FOURTH AMENDMENT TO ADMINISTRATIVE SERVICES AGREEMENT

Exhibit (h)(5)

FOURTH AMENDMENT TO

ADMINISTRATIVE SERVICES AGREEMENT

This Amendment made as of September 17, 2007, by and between Natixis Asset Management Advisors, L.P. (“Natixis Advisors”) (formerly IXIS Asset Management Advisors, L.P.), Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust III, Natixis Funds Trust IV, Natixis Cash Management Trust, Xxxxxx Xxxxxx Funds I, Xxxxxx Xxxxxx Funds II (collectively, the “Trusts”) and Xxxxxxxxxx International Series (“Xxxxxxxxxx Series Funds”).

WHEREAS, Natixis Advisors and the Trusts are parties to an Administrative Services Agreement dated January 3, 2005 (the “Agreement”), governing the terms and conditions under which Natixis Advisors provides certain administrative services to the series of the Trusts; and

WHEREAS, the Xxxxxxxxxx Series Funds is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”); and

WHEREAS, the Xxxxxxxxxx Series Funds desire to employ Natixis Advisors to provide certain administrative services to the Xxxxxxxxxx Series Funds in the manner and on the terms set forth in the Agreement and Natixis Advisors wishes to perform such services; and

WHEREAS, Natixis Advisors, Xxxxxxxxxx Series Funds and the Trusts desire to amend Schedule A of the Agreement to reflect changes in Trust names and Portfolios and the addition of Xxxxxxxxxx Series Funds;

NOW THEREFORE, in consideration of the premises and covenants contained herein, Natixis Advisors, the Trusts and the Xxxxxxxxxx Series Funds hereby agree as follows:

1. Schedule A of the Agreement is deleted in its entirety and replaced with Schedule A attached hereto.

2. Except as specifically superseded or modified herein, the terms and provisions of the Agreement shall continue to apply with full force and effect.

3. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.

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IN WITNESS WHEREOF, each of the parties has caused this instrument to be executed as a sealed instrument in its name and behalf by its duly authorized representative as of the date first above written.

NATIXIS ASSET MANAGEMENT ADVISORS, L.P.
By Natixis Distribution Corporation, its general partner
By:		/s/ Xxxx X. Xxxxxx
		Xxxx X. Xxxxxx, President and Chief Executive Officer
NATIXIS FUNDS TRUST I
NATIXIS FUNDS TRUST II
NATIXIS FUNDS TRUST III
NATIXIS FUNDS TRUST IV
NATIXIS CASH MANAGEMENT TRUST
XXXXXX XXXXXX FUNDS II
XXXXXXXXXX INTERNATIONAL SERIES
By:		/s/ Xxxx X. Xxxxxx
		Xxxx X. Xxxxxx, President
XXXXXX XXXXXX FUNDS I
By:		/s/ Xxxx X. Xxxxxx
		Xxxx X. Xxxxxx, Executive Vice President

Schedule A

Trust Portfolios

As of: September 17, 2007

Natixis Funds Trust I

CGM Advisor Targeted Equity Fund

Xxxxxxxxxx International Fund

Natixis Income Diversified Portfolio

Natixis U.S. Diversified Portfolio

Natixis Value Fund

Xxxxxx Xxxxxx Core Plus Bond Fund

Xxxxxxx Xxxxxx Small Cap Value Fund

Westpeak 130/30 Growth Fund

Natixis Funds Trust II

Xxxxxx Associates Large Cap Value Fund

Xxxxxx Xxxxxx Massachusetts Tax Free Income Fund

Natixis Funds Trust III

Xxxxxx Associates Focused Value Fund

Natixis Moderate Diversified Portfolio

Natixis Funds Trust IV

AEW Real Estate Fund

Natixis Cash Management Trust

Natixis Cash Management Trust – Money Market Series

Xxxxxx Xxxxxx Funds I

Xxxxxx Xxxxxx Bond Fund

Xxxxxx Xxxxxx Fixed Income Fund

Xxxxxx Xxxxxx Global Bond Fund

Xxxxxx Xxxxxx High Income Opportunities Fund*

Xxxxxx Xxxxxx Inflation Protected Securities Fund

Xxxxxx Xxxxxx Institutional High Income Fund

Xxxxxx Xxxxxx Intermediate Duration Fixed Income Fund

Xxxxxx Xxxxxx Investment Grade Fixed Income Fund

Xxxxxx Xxxxxx Securitized Asset Fund*

Xxxxxx Xxxxxx Small Cap Value Fund

* With respect to these Funds only, paragraph 3 of the Agreement is revised to provide that Natixis Advisors shall be entitled to reasonable compensation for its services and expenses as Administrator, but Xxxxxx, Xxxxxx & Company, L.P. (“Xxxxxx Xxxxxx), the adviser to the Funds, and not Xxxxxx Xxxxxx Funds I, shall be responsible for payment of such compensation and expenses relating to the Funds, as agreed upon by Xxxxxx Xxxxxx in separate Letter Agreements dated January 3, 2005 and July 1, 2005, respectively.

Xxxxxx Xxxxxx Funds II

Xxxxxx Xxxxxx Mid Cap Growth Fund

Xxxxxx Xxxxxx Growth Fund

Xxxxxx Xxxxxx High Income Fund

Xxxxxx Xxxxxx Investment Grade Bond Fund

Xxxxxx Xxxxxx Limited Term Government and Agency Fund

Xxxxxx Xxxxxx Municipal Income Fund

Xxxxxx Xxxxxx Research Fund

Xxxxxx Xxxxxx Small Cap Growth Fund

Xxxxxx Xxxxxx Strategic Income Fund

Xxxxxx Xxxxxx Tax-Managed Equity Fund

Xxxxxx Xxxxxx Value Fund

Xxxxxx Xxxxxx Global Markets Fund

Xxxxxxxxxx International Series

Xxxxxxxxxx Emerging Markets Fund

Xxxxxxxxxx International Value Fund

Xxxxxxxxxx International Growth Fund

Xxxxxxxxxx International Core Fund

Xxxxxxxxxx All Countries Fund (not operational)