Third Amended and Restated Schedule C to the Transfer Agency Agreement by and between
Ex. 99.28(h)(2)(vi)
Third Amended and Restated
Schedule C
to the
by and between
and
UMB Fund Services, Inc.
FEES
| Base Fee | |
| Annual net asset-based fee per CUSIP* | .5 bps |
| *subject to an aggregate annual minimum of $90,000 for the Funds referenced on Schedule A” | |
| Account Fees | |
|
■ Open account fee: □ Non Matrix level 3 accounts |
$10.00 |
|
□ Matrix level 3 accounts |
$7.00 |
|
■ Closed account fee (per year) |
$2.50 |
| USA PATRIOT Act & Escheatment Fees | |
|
■ Per fund (per year) |
$2,000 |
|
■ Suspicious Activity Report filing (per occurrence) |
$25.00 |
|
■ Escheatment filing (per state) |
$50.00 |
| Retirement Accounts (IRA / Xxxx / Others) | |
|
■ Annual maintenance fee per account (may be charged to shareholders) |
$15.00 |
|
■ IRA transfer/rollover/recharacterization/RMD fee (per occurrence) |
$15.00 |
| Advanced Reporting Solutions | |
| Annual maintenance fee | $2,500 |
| Shareholder Services | |
|
■ Telephone calls (per minute) |
$1.00 |
|
■ Letters/e-mails, research/lost shareholder (per occurrence) |
$2.75 |
| Document Services | |
|
■ Standard applications and forms in electronic format |
no charge |
|
■ Customized forms |
as quoted |
|
■ Pre-printed, machine-ready statement inserts (per item) |
$.03 |
|
■ Standard single-sided statement/confirm/tax form/check (per item including .pdf) □ First page |
$.30 |
|
□ Each additional page |
$.15 |
| 1 |
Reprocessing Charges
| Base fee – per occurrence, per day, per fund | $500 |
Applies when shareholder transactions are required to be reprocessed as a result of incorrect or not timely NAV or dividend information caused by the Advisor or other entity unaffiliated with UMBFS
Rule 22c-2 Service Fees
One-time Set-up Fee
| Per fund family | $2,000 |
Annual Management Fee for STN 22c-2 Services
| Per CUSIP (billed monthly) | $3,000/yr.* |
*Subject to a minimum of $5,000 per year, per fund family
The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule.
|
NSCC’s Mutual Fund Profile II Services* ■ Tier 1: Activate Mutual Fund Profile II – Advisor populates data |
No fee |
*Funds using Mutual Fund Profile II services will also pay out-of-pocket fees charged by DTCC of $850/mo. for up to 25 CUSIPs or $2,000/mo. for 26+ CUSIPs
| Internet Services | |
|
■ Broker Browser □ One-time set-up fee (standard) |
$1,500 |
|
□ Inquiry |
no charge |
Out-of-Pocket Expenses
|
■ One-time fee to initiate STN 22c-2, per fund family |
$2,000 |
■
Monthly fee for STN 22c-2 services
The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment:
|
□ 0–15 CUSIPS with up to 900,000 stored records |
$560/mo. |
|
□ 16–30 CUSIPS with up to 1.8 million stored records |
$800/mo. |
|
□ 31+ CUSIPS with up to 2.5 million stored records |
$960/mo. |
A fee of $200 per month will be charged for each additional 1.2 million records stored beyond the number included as part of the monthly fee.
The above out-of-pocket expenses will increase to the extent that FIS increases its pricing under the contract between UMB Fund Services and Delta Data.
In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.
| 2 |
Programming and Special Project Fees
Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports.
Out-of-Pocket Expenses
Out-of-pocket expenses include but are not limited to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, retirement plan documents, proxies and proxy services, DTCC/NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider.
All fees, other than basis point fees, are subject to an annual escalation equal to the increase in the Consumer Price Index–Urban Wage Earners (CPI). Such escalations shall be effective commencing one year from the effective date of each Fund and the corresponding date each year thereafter. No amendment of this fee schedule shall be required with each escalation; however, a formal notice of the fee increase, which may be as included in an invoice, shall be provided defining the exact escalation amount.
CPI will be determined by reference to the Consumer Price Index News Release issued by the Bureau of Labor Statistics, U.S. Department of Labor.
| Optional Services | |
| ■ | |
|
■ Tier 2: Activate Mutual Fund Profile II – UMBFS supports Advisor in populating data □ One-time set-up fee, per fund family |
$1,000 |
|
□ Monthly maintenance fee – up to 25 CUSIPs |
$250 |
|
□ Monthly maintenance fee – more than 25 CUSIPs |
$500 |
| *Funds using Mutual Fund Profile II services will also pay out-of-pocket fees charged by DTCC of $850/mo. for up to 25 CUSIPs or $2,000/mo. for 26+ CUSIPs. | |
| VRU Services | |
|
■ One-time VRU set-up fee |
$1,500 |
|
■ Annual VRU maintenance fee |
$1,500 |
|
■ VRU charge (per call) |
$ .40 |
| Internet Services | |
|
■ Broker Browser □ One-time set-up fee (standard) |
$1,500 |
|
□ Inquiry |
no charge |
| 3 |
| ■ | Online Access and Web-based document mailing – per fund family |
| □ | One-time set-up fee | $10,000 |
| □ | Annual maintenance fee – up to 50,000 accounts | $9,000 |
| □ | Annual maintenance fee – over 50,000 accounts | $16,500 |
| □ | Per shareholder, per mailing* | $ .15 |
*statements, prospectuses, financial reports, etc.
FATCA Services
| Annual FATCA services fee | $2,500 |
| 4 |
IN WITNESS WHEREOF, the parties hereto have caused this Third Amended and Restated Schedule C to the Transfer Agency Agreement between the undersigned and dated as of November 21, 2019 to be executed by a duly authorized officer as of the 14th day of _November, 2019.
| PPM FUNDS | ||
| By: | /s/ Xxxx Xxxxxxx | |
| Xxxx Xxxxxxx | ||
| Title: | Chief Executive Officer and President | |
| UMB FUND SERVICES, INC. | ||
| By: | /s/ Xxxxxxx Xxxxx | |
| Title: | EVP | |
| 5 |
