Management Fee Waiver and Expense Limitation Agreement

EX - 99.28(d)(xviii)

Management Fee Waiver and Expense Limitation Agreement

This Management Fee Waiver and Expense Limitation Agreement (the “Agreement”) is made and entered into this 1^st day of April, 2012 between Lord, ▇▇▇▇▇▇ & Co. LLC (“Lord ▇▇▇▇▇▇”) and Lord ▇▇▇▇▇▇ Investment Trust (the “Trust”) with respect to Lord ▇▇▇▇▇▇ High Yield Fund (“High Yield Fund”) and Lord ▇▇▇▇▇▇ Income Fund (“Income Fund”).

In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:

	1.	With respect to High Yield Fund, Lord ▇▇▇▇▇▇ agrees for the time period set forth in paragraph 3 below to waive all or a portion of its management fee and, if necessary, reimburse the Fund’s other expenses to the extent necessary so that the total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 0.78%.
	2.	With respect to Income Fund, Lord ▇▇▇▇▇▇ agrees for the time period set forth in paragraph 3 below to waive all or a portion of its management fee and, if necessary, reimburse the Fund’s other expenses to the extent necessary so that the total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 0.58%.
	3.	This Agreement will be effective from April 1, 2012 through March 31, 2013. This Agreement may be terminated only by the Board of Trustees of the Trust upon written notice to Lord ▇▇▇▇▇▇.

IN WITNESS WHEREOF, Lord ▇▇▇▇▇▇ and the Trust have caused this Agreement to be executed by a duly authorized member and officer, respectively, to become effective as of the day and year first above written.

	Lord ▇▇▇▇▇▇ Investment Trust
	By:	/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
		▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
		Vice President and Assistant Secretary
	LORD, ▇▇▇▇▇▇ & CO. LLC
	By:	/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		Member and General Counsel