EXPENSE LIMITATION AGREEMENT
Exhibit (d)(7)
EXPENSE LIMITATION AGREEMENT made as of the 1st day of August 2010 by and between RidgeWorth Funds
(the “Trust”), a Massachusetts business trust, RidgeWorth Capital Management Inc. (the “Adviser”)
and each investment subadviser listed on Schedule B (“Subadviser”) with respect to the series of
the Trust (the “Funds”) set forth on Schedule B.
The Adviser and each Subadviser hereby agree to waive their fees and reimburse expenses to the
extent necessary to limit total operating expenses, based on a percentage of the average daily net
assets of each Fund, (excluding interest, taxes, brokerage commissions, substitute dividend
expenses on securities sold short, extraordinary expenses, estimated indirect expenses attributable
to investments in other investment companies and other expenses not incurred in the ordinary course
of business) for Funds set forth on Schedule A to the levels set forth on Schedule A until August
1, 2011.
For the Institutional Cash Management Money Market Fund, Institutional Municipal Cash Reserve Money
Market Fund, Institutional U.S. Government Securities Money Market Fund, Institutional U.S.
Treasury Securities Money Market Fund, Large Cap Quantitative Equity Fund, Emerging Growth Stock
Fund, High Grade Municipal Bond Fund, and Short-Term U.S. Treasury Securities Fund, the total
advisory fees waived shall be borne 60% by the Adviser and 40% by each Subadviser.
For the Seix Global Strategy Fund, International Equity 130/30 Fund, Real Estate 130/30 Fund, and,
U.S. Equity 130/30 Fund, the total advisory fees waived shall be borne 40% by the Adviser and 60%
by each Subadviser.
If at any point before August 1, 2013, it becomes unnecessary for the Adviser or Subadviser to
waive fees and make reimbursements for a particular Fund, the Adviser and the Subadviser may retain
the difference between the Total Annual Fund Operating Expenses of that Fund and the applicable
expense cap set forth on Schedule A to recapture any of its prior waivers or reimbursements.
The Trust acknowledges that the Adviser may engage in brokerage transactions using Fund assets with
brokers who agree to pay a portion of the Fund’s expenses, and that the Adviser’s guarantee of Fund
expense ratios takes into account these expenses-limiting arrangements.
This Agreement shall terminate, without payment of any penalty, upon: (1) termination of the
Investment Advisory Agreement with the Adviser or (2) written notice to the Adviser by the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Expense Limitation Agreement to be executed
as of the day and year first written above.
| RIDGEWORTH FUNDS | RIDGEWORTH CAPITAL MANAGEMENT, INC. | |||||||||
By:
|
/s/ Xxxxx Xxxxx | By: | /s/ Xxxx Xxxxxxxx | |||||||
Name:
|
Xxxxx Xxxxx | Name: | Xxxx Xxxxxxxx | |||||||
Title:
|
President | Title: | Managing Director and CFO | |||||||
ALPHA EQUITY MANAGEMENT LLC (with respect to the International Equity 130/30 Fund, Real Estate
130/30 Fund and U.S. Equity 130/30 Fund)
By:
|
/s/ Xxxxx Means | |||
Name:
|
Xxxxx Means | |||
Title:
|
Managing Partner |
CERTIUM ASSET MANAGEMENT LLC (with respect to the Large Cap Quantitative Equity Fund)
By:
|
/s/ Ashi Xxxxxx | |||
Name:
|
Ashi Xxxxxx | |||
Title:
|
CEO |
XXXXXXXXXXX CAPITAL INVESTMENTS LLC (with respect to the Emerging Growth Stock Fund)
By:
|
/s/ Xxxxxx Xxxxx | |||
Name:
|
Xxxxxx Xxxxx | |||
Title:
|
Managing Partner |
SEIX INVESTMENT ADVISORS LLC (with respect to the Seix Global Strategy Fund)
By:
|
/s/ Xxx Xxxxxxx | |||
Name:
|
Xxx Xxxxxxx | |||
Title:
|
CEO |
STABLERIVER CAPITAL MANAGEMENT LLC (with respect to the Short-Term U.S. Treasury Securities Fund,
High Grade Municipal Bond Fund, Institutional Cash Management Money Market Fund, the Institutional
Municipal Cash Reserve Fund, Institutional U.S. Government Securities Money Market Fund, and
Institutional U.S. Treasury Securities Money Market Fund)
By:
|
/s/ Xxxx X. Xxxxxxxxx, III | |||
Name:
|
Xxxx X. Xxxxxxxxx, III | |||
Title:
|
President |
EXPENSE LIMITATION AGREEMENT
SCHEDULE A
SCHEDULE A
| SHARE | EXPENSE | |||||
| FUND | CLASS | LIMITATION | ||||
International Equity 130/30 Fund |
I | 1.55 | % | |||
| A | 1.85 | % | ||||
Real Estate 130/30 Fund |
I | 1.45 | % | |||
| A | 1.75 | % | ||||
U.S. Equity 130/30 Fund |
I | 1.30 | % | |||
| A | 1.60 | % | ||||
Large Cap Quantitative Equity |
I | 0.97 | % | |||
| A | 1.22 | % | ||||
Emerging Growth Stock Fund |
I | 1.24 | % | |||
| A | 1.54 | % | ||||
Aggressive Growth Allocation Strategy |
I | 0.20 | % | |||
| A | 0.50 | % | ||||
| B | 0.95 | % | ||||
| C | 1.20 | % | ||||
Conservative Allocation Strategy |
I | 0.20 | % | |||
| A | 0.50 | % | ||||
| B | 0.95 | % | ||||
| C | 1.20 | % | ||||
Growth Allocation Strategy |
I | 0.20 | % | |||
| A | 0.50 | % | ||||
| B | 0.95 | % | ||||
| C | 1.20 | % | ||||
Moderate Allocation Strategy |
I | 0.20 | % | |||
| A | 0.50 | % | ||||
| B | 0.95 | % | ||||
| C | 1.20 | % | ||||
Seix Global Strategy Fund |
I | 0.83 | % | |||
| A | 1.13 | % | ||||
Short-Term U.S. Treasury Securities Fund |
I | 0.55 | % | |||
| A | 0.73 | % | ||||
| C | 1.55 | % | ||||
High Grade Municipal Bond Fund |
I | 0.65 | % | |||
| A | 0.80 | % | ||||
| SHARE | EXPENSE | |||||
| FUND | CLASS | LIMITATION | ||||
Institutional Cash Management Money Market Fund |
Institutional | 0.17 | % | |||
Institutional Municipal Cash Reserve Money Market Fund |
Institutional | 0.20 | % | |||
Institutional U.S. Government Securities Money Market Fund |
Institutional | 0.20 | % | |||
Institutional U.S. Treasury Securities Money Market Fund |
Institutional | 0.20 | % | |||
| Corporate Trust | 0.45 | % | ||||
SCHEDULE B
| FUND NAME | ADVISER | |
Aggressive Growth Allocation Strategy
|
RidgeWorth Capital Management, Inc. | |
Conservative Allocation Strategy
|
RidgeWorth Capital Management, Inc. | |
Growth Allocation Strategy
|
RidgeWorth Capital Management, Inc. | |
Moderate Allocation Strategy
|
RidgeWorth Capital Management, Inc. |
| FUND NAME | SUBADVISER | |
International Equity 130/30 Fund
|
Alpha Equity Management LLC | |
Real Estate 130/30 Fund
|
Alpha Equity Management LLC | |
U.S. Equity 130/30 Fund
|
Alpha Equity Management LLC | |
Large Cap Quantitative Equity Fund
|
Certium Asset Management LLC | |
Emerging Growth Stock Fund
|
Xxxxxxxxxxx Capital Investments LLC | |
Seix Global Strategy Fund
|
Seix Investment Advisors LLC | |
Short-Term U.S. Treasury Securities Fund
|
StableRiver Capital Management LLC | |
High Grade Municipal Bond Fund
|
StableRiver Capital Management LLC | |
Institutional Cash Management Money Market
|
StableRiver Capital Management LLC | |
Institutional Municipal Cash Reserve
Money Market
|
StableRiver Capital Management LLC | |
Institutional U.S. Government Securities
Money Market
|
StableRiver Capital Management LLC | |
Institutional U.S. Treasury Securities
Money Market
|
StableRiver Capital Management LLC |
