Exhibit (h)(ii)
FUND ACCOUNTING AGREEMENT
THIS AGREEMENT made and effective as of the 3/rd/ day of June, 2002, by
and between INVESTMENT COMPANY CAPITAL CORPORATION, a Maryland Corporation
("ICCC"), on behalf of the mutual funds listed on Exhibit A, as may be amended
from time to time (each a "Fund," collectively, the "Funds"), and XXXXXXX FUND
ACCOUNTING CORPORATION, a corporation organized under the laws of the
Commonwealth of Massachusetts ("Xxxxxxx").
WHEREAS, ICCC is the administrative service provider or fund accounting
agent for the Funds; and
WHEREAS, the Funds are registered as "investment companies" under the
Investment Company Act of 1940 (the "1940 Act"); and
WHEREAS, Xxxxxxx is an accounting service provider affiliated with ICCC
and the Funds; and
WHEREAS, ICCC performs certain administrative and/or accounting
services for each of the Funds, pursuant to certain agreements listed on
Appendix B; and
WHEREAS, ICCC wishes to sub-contract certain fund accounting services
to Xxxxxxx, on behalf of each Fund, and Xxxxxxx is willing to accept such
sub-contract and appointment to perform certain fund accounting services in
connection with maintaining certain accounting records of each Fund on a
computerized accounting system (the "Portfolio Accounting System");
NOW, THEREFORE, in consideration of the mutual promises herein
contained, the parties hereto, intending to be legally bound, mutually covenant
and agree as follows:
1. Appointment of Recordkeeping Agent. Subject to the terms and conditions set
forth in this Agreement, ICCC hereby delegates and appoints Xxxxxxx as fund
accounting agent for each Fund to perform accounting functions related to
portfolio transactions required of each Fund under Rule 31a-1 of the 1940
Act and to calculate the net asset value of the each Fund.
2. Representations and Warranties of ICCC. ICCC hereby represents, warrants
and acknowledges to Xxxxxxx:
A. ICCC is a corporation duly organized and existing and in good standing
under the laws of the State of Maryland;
B. ICCC has the requisite power and authority under applicable law, its
charter or articles of incorporation and its bylaws to enter into and
perform this Agreement; this Agreement has been duly executed and
delivered by ICCC; and this Agreement constitutes a legal, valid and
binding obligation of ICCC, enforceable in accordance with its terms;
and
C. ICCC has determined to its satisfaction that the Portfolio Accounting
System is appropriate and suitable for the needs of each Fund.
3. Representations and Warranties of Xxxxxxx. Xxxxxxx hereby represents,
warrants and acknowledges to ICCC for the benefit of each of the Funds:
X. Xxxxxxx is a corporation duly organized and existing and in good
standing under the laws of the Commonwealth of Massachusetts;
X. Xxxxxxx has the requisite power and authority under applicable law,
its charter or articles of incorporation and its bylaws to enter into
and perform this Agreement; this Agreement has been duly executed and
delivered by Xxxxxxx; and this Agreement constitutes a legal, valid
and binding obligation of Xxxxxxx, enforceable in accordance with its
terms; and
C. The accounts maintained and preserved by Xxxxxxx shall be the property
of ICCC for the benefit of each of the Funds and Xxxxxxx will not use
any information made available to Xxxxxxx under the terms hereof for
any purpose other than complying with its duties and responsibilities
hereunder or as specifically authorized by ICCC on behalf of each of
the Funds in writing.
4. Duties and Responsibilities of ICCC.
A. ICCC, on behalf of each Fund, shall turn over to Xxxxxxx each Fund's
accounts previously maintained, if any.
B. ICCC, on behalf of each Fund, shall provide to Xxxxxxx the information
necessary to perform Xxxxxxx'x duties and responsibilities hereunder
in writing or its electronic or digital equivalent prior to the close
of the New York Stock Exchange on each day on which Xxxxxxx prices the
Fund's securities and foreign currency holdings.
C. ICCC, on behalf of each Fund, shall furnish Xxxxxxx the declaration,
record and payment dates and amounts of any dividends or income and
any other special actions required concerning the securities in the
portfolio when such information is not readily available from
generally accepted securities industry services or publications.
D. ICCC shall pay to Xxxxxxx such compensation at such time as may from
time to time be agreed upon in writing by Xxxxxxx and ICCC for the
performance of services by Xxxxxxx for each Fund under this Agreement.
The initial compensation schedule is attached as Exhibit C.
E. ICCC, on behalf of each Fund, shall provide to Xxxxxxx, as conclusive
proof of any fact or matter required to be ascertained from any Fund
as reasonably determined by Xxxxxxx, a certificate signed by the
Fund's president or other officer of the Fund, or other authorized
individual, as reasonably requested by Xxxxxxx. ICCC, on behalf of
each Fund, shall also provide to Xxxxxxx
instructions with respect to any matter concerning this Agreement
requested by Xxxxxxx. Xxxxxxx may rely upon any instruction or
information furnished by any person reasonably believed by it to be an
officer or agent of ICCC, acting on behalf of each Fund, and shall not
be held to have notice of any change of authority of any such person
until receipt of written notice thereof from ICCC.
5. Duties and Responsibilities of Xxxxxxx.
X. Xxxxxxx shall perform each of the services, all as specifically set
forth in Exhibit X.
X. Xxxxxxx shall calculate each Fund's net asset value in accordance with
each Fund's prospectus. Xxxxxxx will price the securities of each Fund
for which market quotations are available by the use of outside
services designated by the Fund which are normally used and contracted
with for this purpose; all other securities will be priced in
accordance with the Fund's Board approved valuation procedures.
X. Xxxxxxx shall prepare and maintain, with the direction and as
interpreted by ICCC or each Fund's accountants and/or other advisors,
in complete, accurate, and current form, all accounts and records
needed to be maintained as a basis for calculation of each Fund's net
asset value, and as further agreed upon by the parties in writing, and
shall preserve such records in the manner and for the periods required
by law or for such longer period as the parties may agree upon in
writing.
X. Xxxxxxx shall make available to ICCC, each Fund for inspection or
reproduction within a reasonable time, upon demand, all accounts and
records of the Funds maintained and preserved by Xxxxxxx.
X. Xxxxxxx shall be entitled to rely conclusively on the completeness and
correctness of any and all accounts and records turned over to it by
ICCC on behalf of each Fund.
X. Xxxxxxx shall assist each Fund's independent accountants, or upon
approval of ICCC, or any Fund or upon demand, any regulatory body, in
any requested review of any Fund's accounts and records maintained by
Xxxxxxx but shall be reimbursed by ICCC for all expenses and employee
time invested in any such review outside of routine and normal
periodic reviews. Inspections conducted by the Securities and Exchange
Commission shall be considered routine.
G. Upon receipt from ICCC on behalf of each Fund of any necessary
information or instructions, Xxxxxxx shall provide information from
the books and records it maintains for the Funds that any of the Funds
needs for tax returns, questionnaires, or periodic reports to
shareholders and such other reports and information requests as ICCC,
on behalf of any Fund, and Xxxxxxx shall agree upon from time to time.
X. Xxxxxxx shall not have any responsibility hereunder to ICCC, any Fund,
any Fund's shareowners or any other person or entity for moneys or
securities of any Fund, whether held by any Fund or custodians of any
Fund.
6. Delegation. Xxxxxxx may employ, at its own expense, one or more agents from
time to time to perform such of the acts and services of Xxxxxxx and upon
such terms and conditions as may be agreed upon between Xxxxxxx and such
agents and approved by the Board of Trustees of the Trust.
7. Indemnification.
A. ICCC shall indemnify and hold Xxxxxxx harmless from and against any
and all costs, expenses, losses, damages, charges, reasonable counsel
fees, payments and liabilities which may be asserted against or
incurred by Xxxxxxx, or for which it may be liable, arising out of or
attributable to:
x. Xxxxxxx'x action or omission to act pursuant hereto except for
any loss or damage arising form any negligent act or willful
misconduct of Xxxxxxx or its designated sub-contractor.
ii. Xxxxxxx'x payment of money as requested by ICCC, on behalf of
each Fund, or the taking of any action which might make Xxxxxxx
liable for payment of money; provided, however, that Xxxxxxx
shall not be obligated to expend its own moneys or to take any
such action except in Xxxxxxx'x sole discretion.
iii. Xxxxxxx'x action or omission to act hereunder in good faith
reliance on any instructions, advice, notice, request, consent,
certificate or other instrument or paper appearing to it to be
genuine and to have been properly executed.
iv. Xxxxxxx'x action or omission to act in good faith reliance on the
opinion of outside counsel acceptable to both ICCC and Xxxxxxx.
x. Xxxxxxx'x action or omission to act in good faith reliance on
statements of counsel to ICCC and any Fund, any Fund's
independent accountants, and any Fund's officers or other
authorized individuals provided by any Fund's resolution.
vi. The legality of the issue, sale or purchase of any shares of the
Funds, the sufficiency of the purchase or sale price, or the
declaration of any dividend by any of the Funds, whether paid in
cash or stock.
vii. Any error, omission, inaccuracy or other deficiency in any Fund's
accounts and records or other information provided by or on
behalf of ICCC to Xxxxxxx, or the failure of ICCC to provide, or
provide in a
timely manner, the information needed by Xxxxxxx to perform the
Services hereunder.
viii. ICCC's refusal or failure to comply with the terms of this
Agreement, ICCC's negligence or willful misconduct in connection
with the performance of its duties hereunder, or the failure of
any representation of ICCC hereunder to be and remain true and
correct in all respects at all times.
ix. The use or misuse, whether authorized or unauthorized, of the
Portfolio Accounting System or other computerized recordkeeping
and reporting system to which Xxxxxxx provides ICCC, on behalf of
each Fund direct access hereunder or of any other electronic
system of communication used hereunder by ICCC or by any person
who acquires access to such system(s) through a terminal device,
passwords, access instruction or other means of access to such
system(s) which are utilized by, assigned to or otherwise made
available to ICCC, except to the extent attributable to any
negligence or willful misconduct by Xxxxxxx.
X. Xxxxxxx shall indemnify and hold ICCC harmless from and against any
and all costs, expenses, losses, damages, charges, reasonable counsel
fees, payments and liabilities which may be asserted against or
incurred by ICCC or for which it may be liable, arising out of or
attributable to:
x. Xxxxxxx'x refusal or failure to comply with the terms of this
Agreement or the failure of any representation or warranty of
Xxxxxxx hereunder to be and remain true and correct in all
respects at all times.
ii. Any negligent or willful misconduct of Xxxxxxx, including direct
losses occasioned by the negligent error of Xxxxxxx in
calculating any Fund's net asset value; provided, however, that
ICCC shall accept Xxxxxxx'x offer to minimize or eliminate any
resulting monetary damages by employing such alternatives as
reasonably necessary, which alternative shall be done at the
reasonable expense of Xxxxxxx.
iii. The failure of Xxxxxxx to materially comply with applicable law
in connection with the performance of its duties hereunder.
C. For purposes of this indemnification provision, the Indemnitor shall
assume indemnity obligations and the Indemnitee shall be the
beneficiary of the indemnification provision. Indemnitor shall not be
liable under this indemnification provision with respect to any claim
made against Indemnitee unless Indemnitee shall have notified
Indemnitor in writing within a reasonable time after the summons or
other first legal process giving information as to the nature of the
claim shall have been served upon Indemnitee (or after Indemnitee
shall have received notice of such service on any designated agent),
but failure to notify Indemnitor of any such claim shall not relieve
Indemnitor from any liability which it may have to Indemnitee
against whom such action is brought otherwise than on account of this
indemnification provision. In case any such action is brought against
Indemnitee, Indemnitor shall be entitled to participate at its own
expense in the defense of such action. Indemnitor also shall be
entitled to assume the defense thereof, with counsel satisfactory to
the party named in the action.
D. In no event shall Xxxxxxx or ICCC be liable for consequential, special
or punitive damages.
8. Notices. All notices and consents required or given hereunder shall be in
writing and shall be deemed to have been duly given when (i) delivered to
the proper party by hand, or (ii) delivered to the proper party by
certified mail, return receipt requested, or by a commercial courier, or
(iii) sent to the proper party by telecopier, facsimile or similar
electronic means if (x) on the same day a copy also is sent by certified
mail, return receipt requested, or is sent for overnight delivery by
commercial courier, addressed to the proper party at its address below (or
a changed address specified by it in a notice to the other party) and
marked to the attention of the officer names below and (y) such
communication by telecopier, facsimile or similar electronic means is
addressed to the telecopier or facsimile number provided by the other
party. Each party shall keep the other party advised of the appropriate
telecopier or facsimile number for receiving telecopier or facsimile
notices hereunder and each party shall respond promptly by telecopier
facsimile or similar electronic means to any request of the other party for
confirmation of receipt of a notice sent by any means described above. The
addresses of the parties, the names and titles of the relationship managers
to whose attention notices are to marked, and the facsimile and telephone
numbers for such notices for each party are as follows:
1) If to ICCC:
2)
3) Investment Company Capital Corporation
4) Xxx Xxxxx Xxxxxx
0) Xxxxxxxxx, XX 00000
6) Attn: Xxxxxxx X. Xxxx
7) Phone (000) 000-0000
8) Fax (000) 000-0000
9) If to Xxxxxxx:
10) Xxxxxxx Fund Accounting Corporation
11) 000 Xxxx Xxxxxx
00) XXX00-0000
00) Xxx Xxxx, XX00000-0000
14) Attn: Xxxxxxx Xxxxxxxx
15) Phone (000) 000-0000
16) Fax (000) 000-0000
17)
9. Confidential Information.
A. Each party shall preserve the confidentiality of the other party's
information, whether in written, oral, graphic, electronic or physical
form, including client information, financial and proprietary
information, business plans, techniques, formulae, products, software,
and information or materials relevant to the business of the other
party, and in the case of ICCC, of each Fund ("Confidential
Information"). Confidential Information also shall include the tapes,
books, reference manuals, instructions, records, programs,
documentation and information of, and other materials relevant to, the
Portfolio Accounting System.
B. Neither party shall voluntarily disclose such Confidential Information
to any other person other than its own employees or agents who
reasonably have a need to know such information pursuant to this
Agreement, provided a party may disclose Confidential Information in
response to a court order, governmental action, or as otherwise
required by law, but only if the other party has been given notice and
an opportunity to appear and object to such disclosure. Each party
shall return all such Confidential Information to the other party upon
termination or expiration of this Agreement.
C. For purposes of this Agreement, Confidential Information shall not
include: (a) information that is made or becomes available to the
public without breach of this Agreement; (b) information that the
other party agrees in writing can be disclosed by the first party to a
third party without restriction; or (c) information disclosed to a
party by a third party, in which case such party shall owe to the
other party duties of non-disclosure no more stringent than those, if
any, owed to the third party from whom the information was received.
10. Force Majeure. Neither ICCC nor Xxxxxxx shall be responsible or liable for
its failure or delay in performance of its obligations under this Agreement
arising out of or caused, directly or indirectly, by circumstances beyond
its reasonable control, including, without limitation: any interruption,
loss or malfunction of any utility, transportation, computer (hardware or
software) or communication service; inability to obtain labor, material,
equipment or transportation, or a delay in mails; government or exchange
action, statute, ordinance, rulings, regulations or direction; war, strike,
riot, emergency, civil disturbance, terrorism, vandalism, explosions, labor
disputes, freezes, floods, fires, tornadoes, acts of God or public enemy,
revolutions, or insurrection.
11. Procedures. Xxxxxxx and ICCC may from time to time adopt procedures as they
agree upon, and Xxxxxxx may conclusively assume that any procedure approved
in writing or directed by ICCC or any of the Funds' accountants or other
advisors does not conflict with or violate any requirements of any Funds'
prospectus, charter or articles of incorporation, bylaws, any applicable
law, rule or regulation, or any order, decree or agreement by which any
Fund may be bound.
12. Term and Termination. The initial term of this Agreement shall be a period
of one year commencing on the effective date hereof. This Agreement shall
continue thereafter until terminated by either party by notice in writing
received by the other party not
less than ninety (90) days prior to the date upon which such termination
shall take effect. Sections 2, 3, 6, 8 and this Section 11 shall survive
termination of this Agreement. Upon termination of this Agreement, ICCC
shall pay to Xxxxxxx its fees and compensation due hereunder. ICCC shall
designate a successor by notice in writing to Xxxxxxx on or before the
termination date. Xxxxxxx shall deliver to the designated successor, or if
none has been designated, to ICCC, at Xxxxxxx'x office, all records, funds
and other properties of all of the Funds deposited with or held by Xxxxxxx
hereunder. In the event that neither a successor nor ICCC takes delivery of
all records, funds and other properties of the Funds by the termination
date, Xxxxxxx'x sole obligation with respect thereto from the termination
date until delivery to a successor or ICCC shall be to exercise reasonable
care to hold the same in custody in its form and condition as of the
termination date, and Xxxxxxx shall be entitled to reasonable compensation
therefor, including but not limited to all of its out-of-pocket costs and
expenses incurred in connection therewith.
13. Miscellaneous.
A. This Agreement shall be construed according to, and the rights and
liabilities of the parties hereto shall be governed by, the laws of
the State of New York, without reference to the choice of law
principles.
B. All terms and provisions of this Agreement shall be binding upon,
inure to the benefit of and be enforceable by the parties hereto and
their respective successors and permitted assigns.
C. No provisions of the Agreement may be amended or modified in any
manner except by a written agreement properly authorized and executed
by each party hereto.
D. The failure of either party to insist upon the performance of any
terms or conditions of this Agreement or to enforce any rights
resulting from any breach of any of the terms or conditions of this
Agreement, including the payment of damages, shall not be construed as
a continuing or permanent waiver of any such terms, conditions, rights
or privileges, but the same shall continue and remain in full force
and effect as if no such forbearance or waiver had occurred.
E. The captions in this Agreement are included for convenience of
reference only, and in no way define or limit any of the provisions
hereof or otherwise affect their construction or effect.
F. This Agreement may be executed in two or more separate counterparts,
each of which shall be deemed an original but all of which together
shall constitute one and the same instrument.
G. If any provision of this Agreement shall be determined to be invalid
or unenforceable, the remaining provisions of this Agreement shall not
be affected thereby, and every provision of this Agreement shall
remain in full
force and effect and shall remain enforceable to the fullest extent
permitted by applicable law.
H. This Agreement may not be assigned by either party hereto without the
prior written consent of the other.
I. Neither the execution nor performance of this Agreement shall be
deemed to create a partnership or joint venture by and between ICCC
and Xxxxxxx.
J. Except as specifically provided herein, this Agreement does not in any
way affect any other agreements entered into among the parties hereto
and any actions taken or omitted by any party.
1) IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their respective and duly authorized officers, to be effective as of the
day and year first above written.
2)
3)
4) Investment Company Capital Corporation
5)
6) /s/ Xxxxxxx Xxxx
7) By: Xxxxxxx X. Xxxx
8) Title: President
9)
10)
11) Xxxxxxx Fund Accounting Corporation
12)
13) /s/ Xxxxxx Xxxxxx
14) By: Xxxxxx Xxxxxx
15) Title: President
16)
17) EXHIBIT A
BT INVESTMENT FUNDS
Cash Management Fund Investment
Tax Free Money Fund Investment
NY Tax Free Money Fund Investment
Treasury Money Fund Investment
International Equity Fund--Class A, B and C
International Equity Fund--Investment Class
Mid Cap Fund--Investment Class
Mid Cap Fund--Institutional Class
Lifecycle Long Range--Investment Class
Lifecycle Mid Range--Investment Class
Lifecycle Short Range--Investment Class
Small Cap--Investment Class
Quantitative Equity--Investment Class
Quantitative Equity--Institutional Class
PreservationPlus Income
Global Equity Fund--Institutional Class
Global Equity Fund--Class A, B and C
BT ADVISOR FUNDS
EAFE Equity Index--Premier Class
U.S. Bond Index--Premier Class
BT PYRAMID MUTUAL FUNDS
Money Market Investment
Equity 500 Index Investment
Asset Management--Premier Class
PreservationPlus--Investment Class
PreservationPlus--Institutional Class
PreservationPlus--Inst. Service Class
BT INSTITUTIONAL FUNDS
Cash Management Institutional
Cash Reserves Institutional
Treasury Money Institutional
International Equity Fund Institutional Class I
International Equity Fund Institutional Class II
Equity 500 Index Premier
Liquid Assets Fund Institutional
Daily Assets Fund Institutional
Treasury Assets Fund Institutional
Xxxxxxx RREEF Real Estate Securities Fund
Xxxxxxx RREEF Real Estate Fund, Inc.
BT INVESTMENT PORTFOLIOS
Liquid Assets Portfolio
Asset Management II Portfolio
Asset Management III Portfolio
Small Cap Portfolio
U.S. Bond Index Portfolio
EAFE(R) Equity Index Portfolio
PreservationPlus Portfolio
PreservationPlus Income Portfolio
Quantitative Equity Portfolio
XXXXXX XXXXXXXX INVESTMENT TRUST
International Select Equity Fund
European Equity Fund
Emerging Markets Equity Fund
Emerging Markets Debt Fund
Fixed Income Fund
Municipal Bond Fund
Short-Term Fixed Income Fund
Short-Term Municipal Bond Fund
High Yield Bond Fund
Micro Cap Fund
Total Return Bond Fund
Deutsche Bank Alex. Xxxxx Cash Reserve Fund, Inc.
Prime Series
Treasury Series
Tax-Free Series
Flag Investors Communications Fund, Inc.
Emerging Growth Fund, Inc.
Short-Intermediate Income Fund, Inc.
Flag Investors Value Builder Fund, Inc.
Real Estate Securities Fund, Inc.
Flag Investors Equity Partners Fund, Inc.
Deutsche Investors Funds, Inc.
Global Biotechnology Fund
Growth Opportunity Fund
1) EXHIBIT B
2)
3) Administrative Agreement between BT Investment Funds and Investment Company
Capital Corporation dated July 1, 2001.
4) Administrative Agreement between BT Investment Portfolios and Investment
Company Capital Corporation dated July 1, 2001.
5) Administrative Agreement between BT Advisor Funds and Investment Company
Capital Corporation dated July 1, 2001.
6) Administrative Agreement between Asset Management Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
7) Administrative Agreement between International Equity Portfolio and
Investment Company Capital Corporation dated July 1, 2001.
8) Administrative Agreement between Cash Management Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
9) Administrative Agreement between Treasury Money Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
10) Administrative Agreement between BT Pyramid Mutual Funds and Investment
Company Capital Corporation dated July 1, 2001.
11) Administrative Agreement between BT Institutional Funds and Investment
Company Capital Corporation dated July 1, 2001.
12) Administrative Agreement between Equity 500 Index Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
13) Accounting Services Agreement among Investment Company Capital Corporation,
Xxxxxx Xxxxxxxx Investment Trust, and Deutsche Asset Management, Inc.,
dated as of September 1, 2000.
14) Accounting Services Agreement among Investment Company Capital Corporation
and Deutsche Asset Management, Inc., dated as of July 17, 2001, on behalf
of The SMALLCap Fund, Inc.(TM)
15) Accounting Service Appendix to the Master Services Agreement between the
Flag Investors, on behalf of each of the Funds and Investment Company
Capital Corporation, dated as of September 1, 2000.
16)
17) EXHIBIT C
18) To be agreed upon by the parties.
19)
20)
21) EXHIBIT D
22)
On a daily basis, Xxxxxxx shall provide the following accounting functions with
respect to the Fund:
1. Journalize each Fund's investment, capital share and income and expense
activities;
2. Validate investment buy/sell trade tickets when received from each Fund's
investment advisor;
3. Maintain individual ledgers for investment securities;
4. Maintain historical tax lots in accordance with the specific
identification method for each security;
5. Reconcile cash and investment balances with the custodian for required
Funds as applicable, and provide each Fund's investment advisor with the
beginning cash balance available for investment purposes;
6. Update the cash availability throughout the day for required Funds as
applicable and as required by each Fund's investment advisor;
7. Post to and prepare each Fund's Statement of Net Assets and Liabilities
and the Statement of Operations on a monthly basis;
8. Calculate various contractual expenses (e.g., advisor and custody fees);
9. Monitor the expense accruals and notify ICCC and each Fund's management of
any proposed adjustments;
10. Calculate book capital gains and losses allocated to each Fund;
11. Determine each Fund's net income and calculate and distribute daily
dividend rates for daily distributed funds income;
12. Obtain security market quotes from independent pricing services approved
by the Fund's investment advisor or if such quotes are unavailable, or if
such prices are unavailable, then follow Board approved valuation
procedures in order to calculate the market value of the Fund's
investment, and in either case calculate the market value of portfolio
investments;
13. Transmit or mail a copy of the portfolio valuations to each Fund's
investment advisor/sub-advisor when requested;
14. Compute the net asset of each Fund;
15. Compute the yields;
1)
2)
16. Assist in preparation of Annual and Semi-Annual Reports on Form N-SAR;
17. Provide data needed for monitoring compliance with Sub-Chapter M of the
Internal Revenue Code;
18. Keep the following records: (a) all books and records with respect to each
Fund's books of account; and (b) records of each Fund's securities
transactions;
19. Act as liaison with each Fund's independent accounts and provide account
analyses, fiscal year summaries and other audit related schedules;
20. Post to and prepare each Fund's general ledger;
21. Supply readily available Fund statistical data to the Fund as requested on
an ongoing basis;
22. Provide Fund information necessary for the Fund tax group to determine the
amount of dividends and other distributions payable to shareholders as
necessary to, among other things, maintain the qualification as a
regulated investment company of the Fund under the Code;
23. Assist as needed in the preparation of the quarterly compliance
memorandum;
24. Assist as needed in Fund events such as liquidations, redemptions,
in-kind, mergers, etc. Provide necessary operational support to effect the
transactions;
25. Provide accounting services as defined in our contractual agreements with
our private label clients;
26. Reconcile general ledger accounts with Invest One system records and
external parties such as Transfer Agent and Advisor (management fees,
administration fees and waivers); and
27. Provide assistance for required Funds in the monitoring of overdrafts in
DB custody accounts in compliance with Federal Reserve (23A) policies and
procedures.
