NORTHWESTERN MUTUAL SERIES FUND, INC.
NORTHWESTERN MUTUAL SERIES FUND, INC.
000 Xxxx Xxxxxxxxx Xxxxxx
Milwaukee, Wisconsin 53202
March 3, 2020
Xxxx X. Xxxxxxx, President
Xxxxx Street Advisors, LLC
000 Xxxx Xxxxxxxxx Xxxxxx
Milwaukee, WI 53202
|
Re: |
Agreement to Waive Xxxxx Street Advisors, LLC Investment Advisory Fees Relating to |
|
|
Certain Portfolios of Northwestern Mutual Series Fund, Inc. |
Dear Xx. Xxxxxxx:
This letter constitutes an agreement between Xxxxx Street Advisors, LLC ("MSA") and Northwestern Mutual Series Fund, Inc. ("Series Fund") regarding the investment advisory fee for each of the Series Fund portfolios set forth below (each, a "Portfolio"). MSA agrees to waive, from May 1, 2020 through April 30, 2021 (unless renewed by the parties hereto), its investment advisory fee applicable to each Portfolio such that the investment advisory fee is as follows:
|
Growth Stock Portfolio |
|
|
Assets |
Fee |
|
Up to $50 million |
0.60% |
|
$50 million - $100 million |
0.50% |
|
$100 million - $1 billion |
0.40% |
|
Excess over $1 billion |
0.38% |
|
Focused Appreciation Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.66% |
|
$100 million - $500 million |
0.61% |
|
$500 million - $1 billion |
0.60% |
|
Excess over $1 billion |
0.57% |
Page 1 of 6
|
Large Cap Core Stock Portfolio |
|
|
Assets |
Fee |
|
Up to $50 million |
0.60% |
|
$50 million - $100 million |
0.50% |
|
$100 million - $500 million |
0.40% |
|
Excess over $500 million |
0.37% |
|
Large Cap Blend Portfolio |
|
|
Assets |
Fee |
|
Up to $150 million |
0.74% |
|
$150 million - $300 million |
0.67% |
|
$300 million - $500 million |
0.62% |
|
Excess over $500 million |
0.56% |
|
Index 500 Stock Portfolio |
|
|
Assets |
Fee |
|
Up to $2 billion |
0.20% |
|
Excess over $2 billion |
0.18% |
|
Large Company Value Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.70% |
|
$100 million - $250 million |
0.65% |
|
$250 million- $500 million |
0.59% |
|
Excess over $500 million |
0.57% |
|
Domestic Equity Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.65% |
|
$100 million - $250 million |
0.55% |
|
$250 million - $500 million |
0.50% |
|
$500 million - $1 billion |
0.45% |
|
Excess over $1 billion |
0.43% |
|
Equity Income Portfolio |
|
|
Assets |
Fee |
|
Up to $500 million |
0.58% |
|
$500 million - $1.5 billion |
0.53% |
|
Excess over $1.5 billion |
0.52% |
Page 2 of 6
|
Mid Cap Growth Stock Portfolio |
|
|
Assets |
Fee |
|
Up to $50 million |
0.80% |
|
$50 million- $100 million |
0.65% |
|
$100 million- $1 billion |
0.50% |
|
Excess over $1 billion |
0.49% |
|
Index 400 Stock Portfolio |
|
|
Assets |
Fee |
|
Up to $500 million |
0.25% |
|
Excess over $500 million |
0.20% |
|
Mid Cap Value Portfolio |
|
|
Assets |
Fee |
|
Up to $150 million |
0.79% |
|
$150 million - $500 million |
0.67% |
|
Excess over $500 million |
0.64% |
|
Small Cap Value Portfolio |
|
|
Assets |
Fee |
|
Up to $500 million |
0.85% |
|
Excess over $500 million |
0.80% |
|
International Growth |
|
|
Assets |
Fee |
|
Up to $100 million |
0.75% |
|
$100 million - $250 million |
0.65% |
|
$250 million - $1 billion |
0.55% |
|
Excess over $1 billion |
0.54% |
|
Research International Core |
|
|
Assets |
Fee |
|
Up to $150 million |
0.83% |
|
$150 million - $300 million |
0.77% |
|
$300 million - $500 million |
0.70% |
|
Excess over $500 million |
0.63% |
Page 3 of 6
|
International Equity Portfolio |
|
|
Assets |
Fee |
|
Up to $50 million |
0.69% |
|
$50 million - $500 million |
0.54% |
|
$500 million - $1 billion |
0.52% |
|
$1 billion - $1.5 billion |
0.46% |
|
Excess over $1.5 billion |
0.40% |
|
Emerging Markets Equity Portfolio |
|
|
Assets |
Fee |
|
Up to $250 million |
0.98% |
|
$250 million- $500 million |
0.90% |
|
$500 million- $1 billion |
0.87% |
|
Excess over $1 billion |
0.78% |
|
Money Market Portfolio |
|
|
Assets |
Fee |
|
Up to $500 million |
0.30% |
|
$500 million - $1 billion |
0.29% |
|
Excess over $1 billion |
0.28% |
|
Short-Term Bond Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.35% |
|
$100 million- $250 million |
0.33% |
|
$250 million- $500 million |
0.30% |
|
Excess over $500 million |
0.28% |
|
Select Bond Portfolio |
|
|
Assets |
Fee |
|
Up to $2 billion |
0.30% |
|
Excess over $2 billion |
0.28% |
|
Long-Term U.S. Government Bond Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.555% |
|
$100 million - $250 million |
0.515% |
|
$250 million - $500 million |
0.495% |
|
Excess over $500 million |
0.445% |
Page 4 of 6
|
Inflation Protection Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.55% |
|
$100 million - $250 million |
0.50% |
|
Excess over $250 million |
0.46% |
|
High Yield Bond Portfolio |
|
|
Assets |
Fee |
|
Up to $50 million |
0.60% |
|
$50 million - $100 million |
0.50% |
|
$100 million - $1.0 billion |
0.40% |
|
Excess over $1.0 billion |
0.30% |
|
Multi-Sector Bond Portfolio |
|
|
Assets |
Fee |
|
Up to $100 million |
0.74% |
|
$100 million - $250 million |
0.73% |
|
$250 million - $500 million |
0.70% |
|
Excess over $500 million |
0.65% |
|
Balanced Portfolio |
|
|
All assets |
0.05% |
|
Asset Allocation Portfolio |
|
|
All assets |
0.05% |
This letter supersedes all prior agreements between the parties relating to the same matters.
Very truly yours,
NORTHWESTERN MUTUAL SERIES
FUND, INC.
By: /s/Xxxx X. Xxxxxxx
Name: Xxxx X. Xxxxxxx
Title: President
Page 5 of 6
Agreed to and accepted:
XXXXX STREET ADVISORS, LLC
By: /s/Xxxx X. Xxxxxxx Name:Xxxx X. Xxxxxxx Title: President
Page 6 of 6
