FEE WAIVER LETTER RONDURE GLOBAL ADVISORS, LLC
Exhibit (h)(105)
FEE WAIVER LETTER
RONDURE GLOBAL ADVISORS, LLC
000 Xxxxx Xxxx Xxxxxx, Xxxxx 000
Salt Lake City, UT 84101
March 23, 2017
Xx. Xxxxxx X. Xxxxx
0000 Xxxxxxxx, Xxxxx 0000
Denver, CO 80203
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Rondure New World Fund and Rondure Overseas Fund (the “Funds”), each a Series of Financial Investors Trust (the “Trust”)
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Dear Xx. Xxxxx:
This letter confirms the agreement of Rondure Global Advisors, LLC (the “Adviser”) with the Trust to contractually limit the total amount of the “Management Fees” and “Other Expenses” that it is entitled to receive from the Funds.
With respect to the Funds’ Investor Class, to the extent the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A, exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes and extraordinary expenses) exceed 1.35% and 1.10%, respectively, of each of the Rondure New World Fund’s and Rondure Overseas Fund’s average daily net assets through August 31, 2018, the Adviser will reduce the fee payable with respect to the applicable Fund to the extent of such excess, and/or shall reimburse the applicable Fund (or class as applicable) by the amount of such excess.
With respect to the Funds’ Institutional Class, to the extent the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A, exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes and extraordinary expenses) exceed 1.10% and 0.85%, respectively, of each of the Rondure New World Fund’s and Rondure Overseas Fund’s average daily net assets through August 31, 2018, the Adviser will reduce the fee payable with respect to the applicable Fund to the extent of such excess, and/or shall reimburse the applicable Fund (or class as applicable) by the amount of such excess.
The Adviser further agrees that such fee waivers and reimbursements for the Funds are effective as of the date of this letter and shall continue at least through August 31, 2018.
The Adviser will be permitted to recapture, on a class-by-class basis, expenses it has borne through this letter agreement to the extent that a Fund’s expenses in later periods fall below the annual rates set forth in this letter agreement or in previous letter agreements; provided, however, that such recapture payments do not cause the Fund’s expense ratio (after recapture) to exceed the lesser of (i) the expense cap in effect at the time of the waiver and (ii) the expense cap in effect at the time of the recapture. Notwithstanding the foregoing, the Funds will not be obligated to pay any such deferred fees and expenses more than three years after the date on which the fee and expenses was deferred.
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RONDURE GLOBAL ADVISORS, LLC
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By:
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/s/ Xxxx Xxxxxxx
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Name:
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Xxxx Xxxxxxx
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Title:
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CCO
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Xxxxxxxxxxx and accepted by:
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By:
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/s/ Xxxxxx X. Xxxxx
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Name:
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Xxxxxx X. Xxxxx
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Title:
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President
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