Exhibit (g)
FBR NATIONAL BANK & TRUST
CUSTODIAN AGREEMENT
This Agreement made this 26TH day of AUGUST, 2003 by and between NAVELLIER
MILLENNIUM FUNDS hereinafter referred to as the "Principal", and FBR National
Bank & Trust, hereinafter referred to as the "Custodian", a Nationally chartered
institution that has been granted certain Trust powers under the Office of the
Comptroller of Currency, whose place of business is located in Bethesda,
Maryland.
Whereas, the Principal desires that certain securities and other property and/or
cash as may be transferred to the Custodian from time to time shall be held and
administered by the Custodian pursuant to the terms of this Agreement,
Whereas, the Principal is desirous of appointing the FBR National Bank & Trust
as Custodian for the purposes hereinafter set forth,
NOW THEREFORE, THIS AGREEMENT WITNESSETH:
That in consideration of the premises and in the further consideration of the
performance by the Custodian of the obligations set forth, in regard to the
assets of the above referenced funds shall hold said securities and property,
together with any additions thereto in safe-keeping as hereinafter set forth:
1. COLLECTION/DISTRIBUTION OF FUNDS. The Custodian shall collect all interest,
dividends, proceeds of sales, and other moneys due and collectable which derive
from the securities held under this Agreement and pay all proper expenses
incident to the custody of said securities.
2. COMPENSATION. The Custodian shall be entitled to receive compensation for its
services hereunder in accordance with its schedule in effect when the services
are performed which compensation will be invoiced directly to the Principal. The
Custodian's current fee schedule is attached hereto on Schedule "B".
3. INVESTMENTS. The Custodian shall invest, sell and reinvest only upon written
directions from the Principal. Notwithstanding the foregoing, the Custodian may
invest any cash awaiting permanent investment or distribution in any short term
money market investment utilized by the Custodian including shares of any
investment company affiliated with the Custodian or to whom the Custodian
provides services. The Principal may select from the short term money market
investment and other investments as set forth in the "Disclosure" form. All
investment instructions shall be in writing in accordance with Section 16 of
this agreement.
a. As the Principal, or a representative designated in writing by the
Principal, specifically directs in writing and/or orally; or
b. As are in accordance with a broker's xxxx or confirmation addressed
to the account of the Principal at the offices of the Custodian and
presented to the Custodian.
c. As the Principal authorizes designated investment manager per
Schedule D to execute transactions in writing and (or) orally; or
d. The Custodian will hold, earmark and physically segregate for the
account all non-cash property, including all securities owned by the
Principal, other than securities maintained in a clearing agency
which acts as a securities depository or in an authorized book-entry
system authorized by the U.S. Department of the Treasury,
collectively referred to herein as a "Securities System."
e. The Custodian will deliver securities held by the Custodian or in a
Securities System account only upon receipt of proper instructions,
which may be continuing instructions, and only in the following
cases:
1.) Upon sale of such securities for the account of the
Principal and receipt of payment therefore;
2.) Upon receipt of payment in connection with any repurchase
agreement related to such securities entered into by the
Principal;
3.) In the case of a sale effected through a Securities
System;
4.) To the depository agent in connection with tenders or
other similar offers for securities of the Principal;
5.) To the issuer thereof, or its agent, when such securities
are called, redeemed, retired or otherwise become payable;
provided that, in any such case, the cash or other
consideration is to be delivered to the Custodian;
6.) To the issuer thereof, or its agent, for registration or
re-registration pursuant to the provisions of Section 5
hereof; or for exchange for a different number of certificates
or other evidence representing the same aggregate face amount
or number of units; provided that, in any such case, the new
securities are to be delivered to the Custodian;
7.) For exchange or conversion pursuant to any plan of merger,
consolidation, recapitalization, reorganization or
readjustment of the securities of the issuer or pursuant to
provisions for conversion contained in such securities, or
pursuant to any deposit agreement; provided that, in any such
case, the new securities and cash, if any, are to be delivered
to the Custodian;
8.) In the case of warrants, rights or similar securities, the
surrender thereof in the exercise of such warrants, rights or
similar securities or the surrender of interim receipts or
temporary securities for definitive securities; provided that,
in any case, the new securities and cash, if any, are to be
delivered to the Custodian;
9.) For delivery in connection with any loans of securities
made by the Principal, but only against receipt of adequate
collateral as agreed upon from time to time by the Custodian
and the Principal, which may be in the form of cash or
obligations issued by the United States government, its
agencies or instrumentalities;
10.) For delivery as security in connection with any borrowing
by the Principal requiring a pledge of assets by the Principal
against receipt of amounts borrowed;
11.) For any other proper corporate purposes, but only upon
receipt of, in addition to Proper Instructions, a certified
copy of a resolution of the Board signed by an officer of the
Corporation and certified by the Secretary or an Assistant
Secretary, or the Principal or a designated representative of
the Principal, specifying the delivery instructions and
declaring such purposes.
f. The Bank will notify Principal in a timely fashion of any call for
redemption, tender offer, subscription rights, merger,
reorganization, consolidation, recapitalization or other similar
proceedings affecting such securities that are received by the Bank
or published in a financial service described in the following
sentence. Financial services to which the Bank subscribes may change
from time to time, but the Bank will maintain subscriptions to those
financial services which are reasonably necessary to satisfy its
obligation hereunder, which are of general applicability to the type
of securities held by the Bank for Principal, and which are
generally used for that purpose in the securities custody industry.
Except with respect to any notices actually received by the Bank,
the Bank shall have no responsibility for any failure to give
notices if the relevant information is not published in a financial
service described in the preceding sentence. Subject to the
foregoing, the Bank is under no obligation to ascertain which
financial services publish relevant information on a particular
security.
Unless notified by Principal at the time that a particular security
is delivered to the Bank that the security is subject to call or
delivery outside the United States, or that any notice concerning
the security is to be published outside the United States, the Bank
will not be responsible for any loss realized by a failure or delay
in giving notice of any corporate action affecting such security.
g. The Custodian may deposit and/or maintain securities owned by the
Principal in a clearing agency registered with the Securities and
Exchange Commission (the "SEC") under Section 17A of the Securities
Exchange Act of 1934, which acts as a securities depository, or in
the book-entry system authorized by the U.S. Department of the
Treasury and certain federal agencies (collectively referred to
herein as a "Securities System") in accordance with applicable
Federal Reserve Board and SEC rules and regulations, if any, and
subject to the following provisions:
1.) The Custodian may keep securities of the Principal in a
Securities System provided that such securities are
represented in an account ("Account") of the Custodian in the
Securities System which will not include any assets of the
Custodian other than assets held as a fiduciary, custodian, or
otherwise for customers;
2.) The records of the Custodian with respect to securities of
the Principal which are maintained in a Securities System will
identify by book-entry those securities belonging to the
Principal;
3.) The Custodian will pay for securities purchased for the
Principal upon receipt of advice from the Securities System
that such securities have been transferred to the Account, and
the making of an entry on the records of the Custodian to
reflect such payment and transfer for the Principal. The
Custodian will transfer securities sold for the account of the
Principal upon receipt of advice from the Securities System
that payment for such securities has been transferred to the
Account, and the making of an entry on the records of the
Custodian to reflect such transfer and payment for the account
of the Principal. The Custodian will periodically furnish the
Principal an account statement showing confirmation of each
transfer to or from the account of the Principal and each
day's transactions in the Securities System for the account of
the Principal.;
4.) The book-entry system of the Federal Reserve System
authorized by the U.S. Department of the Treasury and the
Depository Trust Company, a clearing agency registered with
the SEC, each are hereby specifically approved as a Securities
System, provided that any changes in these arrangements shall
be subject to the approval of the Board; and
5.) The Custodian will be liable to the Principal for any
direct loss or damage to the Principal resulting from use of
the Securities System to the extent caused by the gross
negligence, misfeasance, or misconduct of the Custodian or any
of its agents or of any of its or their employees. In no event
will the Custodian be liable for any indirect, special,
consequential or punitive damages.
4. STATEMENTS. The Custodian shall provide the Principal with a statement of
assets and transactions monthly.
The Custodian will make a good faith effort to obtain and maintain accurate
market prices on securities it holds for the Principal. The Custodian will
reprice securities at such frequency as it, in its sole discretion deems
appropriate. Such repricing will be performed at least monthly, Limited
Partnerships, that are not publicly traded will be repriced at least annually.
The Custodian, however, makes no warranties or guarantees as to the accuracy of
such pricing or repricing, and will not be liable to the Principal in any way as
a result of the Principal's actions which are taken as a result of relying on
market price information provided by the Custodian.
5. APPOINTMENT OF AGENTS. The Custodian may at any time in its discretion
appoint, but only in accordance with an applicable vote by the Board, any bank
or trust company, which is qualified under the 1940 Act to act as a custodian,
as its agent or sub-custodian to carry out such of the provisions as the
Custodian may from time to time direct; provided that the appointment of any
such agent of sub-custodian will not relieve the Custodian of any of its
responsibilities or liabilities hereunder. The Custodian is hereby authorized to
deposit, arrange for deposit and/or maintain foreign securities owned by the
Principal with the Custodian or with the sub-custodians or agents of the
Custodian's agent.
6. LIABILITY FOR INVESTMENTS. The Custodian shall not be liable or held
responsible for any loss or depreciation in the value of the account resulting
from any investments or changes in investments made as aforesaid. The Custodian
is not at any time under any duty to supervise the investment of, or to advise
or make any recommendation for the purchase, sale, retention or disposition of
securities. The Custodian shall not be responsible for delays or failures in
performance resulting from acts beyond its control. Such acts shall include, but
not be limited to acts of God, strikes, riots, acts of war, epidemics,
governmental regulations superimposed after the fact, fire, communication line
failures, power failures, earthquakes or other disasters.
7. REGISTRATION. The Custodian may hold assets in its sole discretion, in the
name of a nominee, in bearer form, in book-entry form or in a clearing
corporation or depository, so long as its records clearly indicate that the
assets are held in this account. As long as the rights of the Principal to
receive income and other rights normally given a registered holder of securities
are not affected in any way.
8. TRADE ORDERS. All trades shall be made through broker/dealers selected by the
Custodian, except to the extent that the Principal provides otherwise as set
forth in Schedule "D". The compensation for providing this service is, the
commission charged by the broker and any transaction fees set forth in Schedule
"B".
9. TRANSACTION ADVICE/AUTHORIZATIONS. The Principal (please initial indicating
selection, acknowledgment and acceptance)
Shall receive
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Shall not receive
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transaction advices for all security purchases and sales (other than daily cash
investments). An election not to receive such transaction advices may be revoked
by the Principal in writing.
10. DISBURSEMENTS/OVERDRAFTS. All disbursements and purchases are made from the
account's collected, available funds and it is the policy of the Custodian to
not have overdrafts. However, from time to time due to any number of reasons,
such as, a miscalculation of activity, an overdraft will occur. The overdraft
must be cleared in a timely manner and the Custodian reserves the right to claim
compensation at the prevailing prime interest rate.
Principal has signed agreements to use a third party, CTC ("Bank") for loans of
overdrafts. Subject to the terms and conditions of the loan agreement, Bank may,
in its sole and absolute discretion, make loans to Borrower acting for a
Portfolio (each, a "Loan", and, collectively the "Loans") at such times and in
such amounts as
Borrower may request, which amounts may be borrowed, repaid and reborrowed,
provided that the Loans shall not exceed in aggregate principal amount at any
one time outstanding, the maximum amount Borrower is then permitted under the
1940 Act to borrow for such Portfolio.
Borrower shall pay Bank interest, in arrears, on the principal amount of each
Loan from the date on which such Loan is made pursuant to the statement above
until such Loan is due under the Agreement, at a rate per annum during each
Interest Period equal to 30-day LIBOR on the Interest Commencement Date of such
Interest Period plus one percent (100 basis points).
When requesting a disbursement for payment of expenses, the Principal will
furnish the Bank (a) proof of payment to the third party from whom the goods or
services were purchased, and (b) information sufficient to permit the Bank to
determine that the reimbursement is authorized by the Principal.
When requesting a distribution of assets from the capital account, the Principal
will furnish the Bank a request Stating (a) the amount of the distribution to be
made and (b) the manner in which the distribution was calculated.
11. AMENDMENT/TERMINATION. The Principal and the Custodian expressly reserve the
right at any time and from time to time, by mutual agreement in writing, to
alter, amend, modify this Agreement, either in whole or in part. Either party
may terminate this Agreement at any time upon written notice to the other. Such
resignation would be effective 60 days from the notification date, or such date
as may be mutually agreed upon. Fees will be prorated to the date of
termination. No assignment of this Agreement by the Custodian shall be effective
without the prior written consent of the Principal.
12. NOTICE. Any notice, report or other written communication provided for
herein shall be mailed or otherwise delivered to FBR National Bank and Trust,
Trust Custody Department, 0000 Xxxxxxxx Xxx., Xxxxxxxx, XX 00000, or to the
Principal at the address listed in account information schedule, unless either
party has notified the other in writing of a different address. Any written
communication shall be sufficient if received by facsimile transmission.
13. INDEMNIFICATION. The Principal shall indemnify and hold the Custodian, its
officers, agents, employees, representatives, parent, affiliates or subsidiaries
harmless from any and all claims, losses, costs, expenses, fees, legal fee
charges, damages, liabilities, actions, causes of actions, or any other sums
whatsoever, charged to, incurred or paid by the Custodian in connection with,
related to, or arising from, directly or indirectly, this Agreement, or by
reason of any other contracts or agreements entered into by the Custodian in
compliance herewith; save and except this indemnification shall not apply to
claims, losses, costs, expenses, fees, charges, damages, liabilities, actions,
or causes by action or conduct of the Custodian, its officers, agents,
employees, or representatives, which under the particular and given
circumstances involved departs from normal, customary or acceptable practice in
the industry or trade, or which involves gross negligence or willful misconduct
of the Custodian, its officers, agents, employees, or representatives, for all
of which the Custodian shall be liable to the Principal under this agreement.
The Principal shall indemnify and hold the Custodian harmless for following
Principal's instructions.
14. PROXIES. The Custodian shall take all reasonable actions to obtain
information with regard to redemptions, maturities, subscription rights,
conversion privileges and matters of a like nature and transmit such information
to the Principal promptly. If any situation comes to the attention of the
Custodian which will or may require the enforcement or exercise of any of the
rights or privileges pertaining to any fixed obligation or debt security held
hereunder, the Custodian shall give prompt notice thereof to the Principal and
shall take only such action as the Principal directs in writing. The Custodian
shall forward to the Principal, any and all information relative to the voting
of proxies on stock held in the account. The Principal may then forward the
completed proxy information to the respective company involved. Please refer to
Schedule "C" for important information concerning the Shareholder Communications
Act.
15. TAXES. The Principal shall be responsible for the filing of all tax returns
and for the payment of all taxes including income taxes, capital gains taxes,
personal property taxes and any other taxes applicable to this account. The
Custodian shall not pay any taxes of any kind except those which may be
incidental to the transfer of securities.
16. AUTHORIZED PERSONS. The Principal agrees to provide a list of authorized
persons from whom the Custodian may take instruction. The Principal further
agrees to furnish a new list if those persons authorized should change. Until
such new list is received, the Custodian shall be protected in acting on the
instruction of the then current list of authorized persons. The Custodian shall
be entitled to rely upon any written or oral instruction actually received by
the Custodian and reasonably believed by the Custodian to be duly authorized by
the Principal or his designee. In the case of oral instructions the Principal
agrees to forward to the Custodian written instructions confirming the oral
instructions.
17. MULTIPLE ACCOUNTS. From time to time, the Principal may instruct the
Custodian to open and maintain more than one custody account. Unless the
Principal and Custodian otherwise expressly agree, such accounts will be
governed by the provisions of this Agreement.
18. ON-LINE ACCESS. If the Custodian provides on-line access by means of a
computer terminal to the Principal, or a representative designated by the
Principal, for the retrieval of account information, the following terms and
conditions shall be applicable:
A. Access may be restricted, at the sole option of the Custodian, to such
data, reports and time of day as may, in the opinion of the Custodian, be
necessary to ensure the proper and efficient performance of the
Custodian's computer system; and
B. Users of the on-line access agree to establish appropriate internal
procedures to control access to account information and in no case will
the Custodian be liable to the Principal for any losses which the
Principal may experience as a result of having information available via a
computer terminal.
C. Users understand and agree that they will provide any terminal
equipment (e.g., computers, including communications software, modems or
other hardware devices) at their site necessary to use On-Line Access, and
shall bear any and all costs and expenses with respect thereto as well as
for the use of any third party telecommunications networks or direct-dial
telephone lines used in connection therewith.
19. GOVERNING LAW. Maryland Law shall govern the construction and interpretation
of this Agreement.
20. SEVERABILITY. Any term or provision of this Agreement held to be illegal or
unenforceable shall, if possible be interpreted so as to be construed as valid,
but in any event the validity or enforceability of the remainder hereof shall
not be affected.
21. THIRD PARTIES. This agreement shall be binding upon and the benefits hereof
shall insure to the parties hereto and their respective successors and assigns.
However, nothing in this Agreement shall give or be construed to give or confer
upon any third party any rights hereunder.
22. ENTIRE AGREEMENT. This Agreement sets forth the entire Agreement between the
parties and supersedes any and all prior proposals, agreements, and
representations between them, whether written or oral.
In witness whereof, the parties hereto have caused this Agreement to be executed
in duplicate as of the day and year first above written.
Navellier Millennium Funds
By:
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Date Name
Signature
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FBR National Bank and Trust
Date By:
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Name
Signature
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SCHEDULE A
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SCHEDULE B
FEE SCHEDULE
Accounts held at FBR National Bank & trust, will be charged for
administration and custody services. All fees will be calculated and billed, in
accordance with the following schedule:
SCHEDULE DETAILS:
DOMESTIC FEE SCHEDULE
CATEGORY 1
United States
ASSET BASED FEE:
*First $250,000,000 .000175
Next $100,000,000 .000150
Next $100,000,000 .000125
Next $100,000,000 .0001
Over $550,000,000 .00009
Fees are charged monthly with a minimum of $500 per month per portfolio.
*The market value of money market mutual funds services by FBR National Bank &
Trust is excluded from the market value for fee calculation.
TRANSACTION FEES:
*$7 per DTC Domestic Book Entry Security Transaction
$1 per DTC Dividend and Interest Payment
$7 per Fed Security Transaction
$1 per Fed Principal Payment
$1 per Fed Interest Payment
$7 per Mutual Fund Transaction
$25 per Physical Transaction
$35 per Futures and Options Transaction
$10 per Wire Transfer
$50 per Security Loan Transaction
*Includes domestic and securities of foreign origination that are settled in the
U.S. and in USD, i.e.: ADR's and WEB's
Security transaction includes buy, sell, free receipt, free delivery, maturity,
redemption, stock split (includes sale of fraction), stock dividend (includes
sale of fraction), merger, tender, exchange and capital changes.
Transaction fees charged by the broker/dealer firm executing the transaction are
passed through to the client account with the trade.
Compensation for additional services will be charged according to the nature of
the service and the responsibilities undertaken.
GLOBAL FEE SCHEDULE
ANNUAL ADMINISTRATION FEE
7.0 bps on the first $250 million on non-US assets
5.0 bps on the next $250 million of non-US assets
3.0 bps after $500 million of non-US assets
Assets held in specific countries will incur additional annualized asset-based
charges plus transaction charges associated with each region.
CATEGORY II
Australia Germany 1.5 basis points on the market value
Canada Japan $70 per security transaction
Cedel United Kingdom
Euroclear
CATEGORY III
Belgium New Zealand 5.0 basis points on the market value
Denmark Norway $75 per security transaction
France South Africa
Ireland Spain
Italy Sweden
Netherlands Switzerland
CATEGORY IV
Austria Singapore 12.0 basis points on market value
Finland Thailand $100 per security transaction
Malaysia Nimibia
Mexico Ghana
S. Korea Kenya
Hong Kong Zambia
Argentina Sri Lanka
Brazil
INTERMEDIATE
CATEGORY V
Greece Czech Republic 25.0 basis points on market value
Philippines Ecuador $100 per security transaction
Xxxxxx Xxxxxx
Xxxxxxx Xxxxxxxx
Xxxxxxxx
XXXXXXXX XX
Xxxxxxxxx Xxxxxxxxxx 40.0 basis points on market value
Peru Portugal $110 per security transaction
EMERGING
CATEGORY VII
Egypt Chile 60.0 basis points on market value
China-Shanghai China-Shenzhen $140 per security transaction
Columbia Cyprus
Bangladesh Israel
Hungary India
Jordan Mauritius
Pakistan Poland
Uruguay Venezuela
Security transaction includes but, sells, free receipt, free delivery, maturity,
redemption, stock Split (includes sale of fraction), stock dividend (includes
sale of fraction), merger, tender, Exchange, capital change and mortgaged backed
securities principal paydown.
PORTFOLIO TO CHARGE: PRINCIPAL
FREQUENCY OF CHARGE: MONTHLY
DATE OF CHARGE: LAST DAY
Acknowledgement and Acceptance of stated Fee Schedule:
_________________________________Signature
SCHEDULE C
In an effort to permit direct communications between a company which issues
securities and the shareholder that votes those securities, the Securities and
Exchange Commission has adopted Rule 14b-1(c).
The Securities and Exchange Commission Rule directs us to contact each customer
for whom we hold securities and determine whether or not you authorize us to
provide your name, address and share position to requesting companies whose
stock you own. If you tell us "no", we will not provide this information to
requesting companies. If you tell us "yes", we will provide the information.
Under the Rule, your "yes" or "no" will apply to all securities that we hold for
you.
We may provide this information either directly to the requesting companies or
through a third party vendor.
For your protection, the Rule prohibits the requesting company from using your
name and address for any purpose other than corporate communications.
Please complete the authorization below by checking one of the alternatives.
Under the law, unless you indicate your objection in writing, you are deemed to
"not object".
YES ( ) You are authorized to release my name, address, and
share positions to requesting issuers
NO ( ) You are not authorized to release my name, address
or share positions to requesting issuers
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Authorized Signature Date
SCHEDULE D
The Principal hereby acknowledges that the Principal has been informed and fully
understands that trade orders will be processed through broker/dealers selected
by the Custodian, unless other brokers are specified. Please provide the list of
any and all brokers that are to be utilized.
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Principal Authorized Signature
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Principal Authorized Signature
Date:
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SCHEDULE E
INVESTMENT DIRECTION
The custodian shall invest, sell and reinvest in this account only upon
instructions from the Principal. All investment instructions shall be in writing
in accordance with Section 16 of this agreement. Notwithstanding the foregoing,
the Custodian shall invest any cash awaiting permanent investment or
distribution in the manner indicated below:
100% (initials) Fund for Government Investors ("FGI"), except when the total
cash investment of all affiliated Navellier Funds exceeds 3 per centum of the
total outstanding stock of FGI. At such time the Custodian, unless otherwise
instructed and depending upon availability, shall purchase an overnight Federal
Agency Discount Note or an overnight Repurchase Agreement with cash in excess of
the above limitation.
Dividends paid by FGI at month end will be reinvested in FGI unless otherwise
instructed by the investment advisor.
DISCLOSURE STATEMENT
FBR FUND FOR GOVERNMENT INVESTORS- FBR Fund for Government Investors, a money
market fund, is Registered with the Securities and Exchange Commission under the
Investment Company Act of 1940 as an Open-end, no-load, diversified management
investment company that invests in short-term marketable debt Securities issued
by the United States Government, its agencies and instrumentality's, and
repurchase Agreements secured by such securities, with the sole objective of
achieving current income with safety of principal.
THE SHARES OFFERED BY FBR FUND FOR GOVERNMENT INVESTORS ORE NOT DEPOSITS OR
OBLIGATIONS OF ANY BANK, ARE NOT ENDORSED OR GUARANTEED BY ANY BANK, AND ARE NOT
INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE FEDERAL
RESERVE BOARD, OR ANY OTHER US GOVERNMENT AGENCY; AND, THEY ARE SUBJECT TO
INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF PRINCIPAL.
There is an affiliate relationship between FBR Fund for Government Investors and
the Custodian. Money Management Advisers, Inc. (MMA) is a wholly owned
subsidiary of FBR National Bank and Trust. Money Management Advisers, Inc.
provides investment advisory and management services to FBR Fund for Government
Investors. The undersigned reserves the right, from time to time, to change the
designation of the above references Money Market investments and will issue
written instructions to the Directed Trustee or Custodian accordingly.
DUE TO SECTION 326 OF THE USA PATRIOT ACT, FBR NATIONAL TRUST COMPANY MAY
CONSULT CHOICEPOINT XXXXXXXXXX.XXX AND (OR) AUTOTRACK XX.XXX TO VERIFY YOUR TAX
ID OR SOCIAL SECURITY NUMBER, NAME AND ADDRESS OR ANY INFORMATION NEEDED TO
COMPLY WITH THE ACT. THESE WEBSITES ARE IN CONNECTION WITH THE FEDERAL CRIMES
ENFORCEMENT NETWORK (FINCEN) AND THE NATIONAL CREDIT UNION ADMINISTRATION.
The Principal, Navellier Funds hereby acknowledges having received a copy of
this disclosure and a Fund for Government Investors prospectus.
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Principal Signature Authorized Signature
PERSONAL PROFILE
Name:
Address:
Address Verification:
Tax ID:
ID Verification:
Relationship:
Date of Birth:
Social Security:
Citizenship:
Telephone Number:
Marital Status:
Contact Person:
Address:
Telephone Number:
METHOD FOR DISPOSING OF ASSETS: FIFO LIFO HIFO AVERAGE
(circle one)
AMENDMENT TO
AGREEMENT FOR FUND ACCOUNTING SERVICES,
TRANSFER AGENT SERVICES AND CUSTODY SERVICES
BETWEEN
THE NAVELLIER MILLENNIUM FUNDS
AND
FBR NATIONAL BANK & TRUST
Effective April 1, 2001, the following amendments are hereby made to the
Agreement for Fund Accounting Services, Transfer Agent Services and Custody
Services dated July 31, 1998 by and between The Navellier Millennium Funds and
Rushmore Trust and Savings, FSB.
1. Whereas on March 31, 2001 Rushmore Trust and Savings, FSB converted from a
federal savings bank to a national bank charter to be known as FBR National Bank
& Trust and was immediately acquired by Friedman, Billings, Xxxxxx Group, Inc.,
the name Rushmore Trust and Savings, FSB shall be replaced throughout the
Agreement with FBR National Bank & Trust (the "Company").
2. The following section shall be added to the Agreement:
ARTICLE 30: PRIVACY
The Company agrees that it will only use and disclose nonpublic personal
information of Investment Company shareholders in the ordinary course of
providing contracted services to the Investment Company and as permitted by law.
FBR National Bank & Trust Investment Companies
(Listed on Exhibit 1)
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Xxxxx X. Xxxxxxx Xxxxx Xxxxxx
President and CEO Treasurer
