THE MAINSTAY FUNDS MAINSTAY FUNDS TRUST MAINSTAY VP FUNDS TRUST AMENDMENT TO THE SUBADVISORY AGREEMENT
Exhibit (d)(4)(a)
THE MAINSTAY FUNDS
MAINSTAY VP FUNDS TRUST
AMENDMENT TO THE SUBADVISORY AGREEMENT
This Amendment to the Subadvisory Agreement, is made as of the 28th day of February, 2017, (the “Amendment”) between New York Life Investment Management LLC, a Delaware limited liability company (the “Manager”) and Cornerstone Capital Management Holdings LLC, a Delaware limited liability company (the “Subadvisor”).
WHEREAS, the Manager and the Subadvisor are parties to the Subadvisory Agreement, effective as of October 4, 2016, as amended (“Agreement”); and
WHEREAS, the parties hereby wish to amend the Subadvisory Agreement to reflect revised subadvisory fees for the MainStay Emerging Markets Opportunities Fund and MainStay U.S. Equity Opportunities Fund, and to reflect the revised name of the MainStay Emerging Markets Opportunities Fund.
NOW, THEREFORE, the parties agree as follows:
| (i) | Effective February 28, 2017, Schedule A is hereby amended by deleting it in its entirety and replacing it with the Schedule attached hereto. |
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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized officers and attested effective as of the date first written above.
NEW YORK LIFE INVESTMENT MANAGEMENT LLC
| Attest: | /s/ Xxxxxx Xxxxx | By: | /s/ Xxxxxxx X. Xxxxxx | |
| Name: | Xxxxxx Xxxxx | Name: | Xxxxxxx X. Xxxxxx | |
| Title: | Director and Associate General Counsel | Title: | President |
CORNERSTONE CAPITAL MANAGEMENT HOLDINGS LLC
| Attest: | /s/ Xxxxx Xxxxxxxx | By: | /s/ Xxxxxx Xxxxx | |
| Name: | Xxxxx Xxxxxxxx | Name: | Xxxxxx Xxxxx | |
| Title: | Chief Compliance Officer | Title: | Chief Operating Officer | |
| Chief Financial Officer |
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SCHEDULE A
(As of February 28, 2017)
As compensation for services provided by Subadvisor, the Manager will pay the Subadvisor and Subadvisor agrees to accept as full compensation for all services rendered hereunder, at an annual subadvisory fee equal to the following:
| Fund/PORTFOLIO |
Annual Rate
|
| MainStay Funds |
|
| MainStay Common Stock Fund * |
0.275% on assets up to $500 million;
|
| MainStay International Equity Fund* |
0.445% on assets up to $500 million; and 0.425% on assets in excess of $500 million
|
| MainStay Funds Trust |
|
|
MainStay Absolute Return Multi-Strategy Fund (investment sleeve)*
|
0.625% on all assets |
| MainStay Balanced Fund (investment sleeve)* |
0.35% on assets up to $1 billion; 0.325% on assets from $1 billion to $2 billion; and 0.30% on assets in excess of $2 billion
|
| MainStay Cornerstone Growth Fund* |
0.35% on assets up to $500 million; 0.325% on assets from $500 million to $1 billion; 0.3125% on assets from $1 billion to $2 billion; and 0.30% on assets over $2 billion
|
|
MainStay Emerging Markets Equity Fund* (formerly MainStay Emerging Markets Opportunities Fund)
|
0.525% on assets up to $1 billion; and
|
| MainStay International Opportunities Fund* |
0.55% on all assets
|
| MainStay S&P 500 Index Fund* |
0.125% on assets up to $1 billion;
|
| MainStay U.S. Equity Opportunities Fund* |
0.50% on assets up to $1 billion; and
|
| MainStay VP Funds Trust |
|
|
MainStay VP Absolute Return Multi-Strategy Portfolio (investment sleeve)*
|
0.625%
|
| MainStay VP Balanced Portfolio (investment sleeve) |
0.35% on assets up to $1 billion; 0.30% on assets in excess of $2 billion |
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| Fund/PORTFOLIO |
Annual Rate
|
| MainStay VP Common Stock Portfolio |
0.275% on assets up to $500 million;
|
| MainStay VP Cornerstone Growth Portfolio |
0.35% on assets up to $500 million; 0.325% on assets from $500 million to $1 billion; 0.30% on assets in excess of $2 billion
|
| MainStay VP Emerging Markets Equity Portfolio (investment sleeve) |
0.55% on assets up to $1 billion; and 0.545% on assets in excess of $1 billion
|
| MainStay VP International Equity Portfolio |
0.445% on assets up to $500 million; and
|
| MainStay VP Mid Cap Core Portfolio* |
0.425% on assets up to $1 billion; and
|
| MainStay VP S&P 500 Index Portfolio |
0.125% on assets up to $1 billion;
|
| MainStay VP Small Cap Core Portfolio* | 0.425% on assets up to $1 billion; and 0.40% on assets in excess of $1 billion |
The portion of the fee based upon the average daily net assets of the respective Portfolio shall be accrued daily at the rate of 1/(number of days in calendar year) of the annual rate applied to the daily net assets of the Portfolio.
Payment will be made to the Subadvisor on a monthly basis.
* For certain Series listed above, the Manager has agreed to waive a portion of each Portfolio’s management fee or reimburse the expenses of the appropriate class of the Portfolio so that the class’ total ordinary operating expenses do not exceed certain amounts. These waivers or reimbursements may be changed with Board approval. To the extent the Manager has agreed to waive its management fee or reimburse expenses, Cornerstone Capital Management Holdings LLC, as Subadvisor for these Series, has voluntarily agreed to waive or reimburse its fee proportionately.
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