MANAGEMENT AGREEMENT
AGREEMENT dated as of November 15, 2000 between LIBERTY FUNDS TRUST V, a
Massachusetts business trust (Trust), with respect to LIBERTY GLOBAL YOUNG
INVESTOR FUND (Fund), and XXXXX XXX & XXXXXXX INCORPORATED, a Delaware
corporation (Advisor).
In consideration of the promises and covenants herein, the parties agree as
follows:
1. The Advisor will manage the investment of the assets of the Fund in
accordance with its prospectus and statement of additional information
and will perform the other services herein set forth, subject to the
supervision of the Board of Trustees of the Trust. The Advisor may
delegate to an affiliate the responsibility for placing orders to
effect the investment of the Fund's available cash pursuant to written
instructions of the Advisor.
2. In carrying out its investment management obligations, the Advisor
shall:
(a) evaluate such economic, statistical and financial information
and undertake such investment research as it shall believe advisable;
(b) purchase and sell securities and other investments for the Fund
in accordance with the procedures described in its prospectus and
statement of additional information; and (c) report results to the
Board of Trustees of the Trust.
3. The Advisor shall be free to render similar services to others so
long as its services hereunder are not impaired thereby.
4. The Fund shall pay the Advisor monthly a fee at the annual rate of
0.85% of the average daily net assets of the Fund.
5. The Advisor may waive its compensation (and bear expenses of the Fund)
to the extent that expenses of the Fund exceed any expense limitation
the Advisor declares to be effective.
6. This Agreement shall become effective as of the date of its
execution, and
(a) unless otherwise terminated, shall continue until two years from
its date of execution and from year to year thereafter so long as
approved annually in accordance with the 1940 Act; (b) may be
terminated without penalty on sixty days' written notice to the
Advisor either by vote of the Board of Trustees of the Trust or by
vote of a majority of the outstanding shares of the Fund; (c) shall
automatically terminate in the event of its assignment; and (d) may
be terminated without penalty by the Advisor on sixty days' written
notice to the Trust.
7. This Agreement may be amended in accordance with the 1940 Act.
8. For the purpose of the Agreement, the terms "vote of a majority of the
outstanding shares", "affiliated person" and "assignment" shall have
their respective meanings defined in the 1940 Act and exemptions and
interpretations issued by the Securities and Exchange Commission under
the 1940 Act.
9. The Advisor shall maintain, keep current and preserve on behalf of the
Fund, in the manner required by the 1940 Act, records identified by
the Trust from time to time. Advisor agrees to make such records
available upon request to the Trust and its auditors during regular
business hours at the Advisor's offices. Advisor further agrees that
such records are the property of the Trust and will be surrendered to
the Trust promptly upon request.
10. In the absence of willful misfeasance, bad faith or gross negligence
on the part of the Advisor, or reckless disregard of its obligations
and duties hereunder, the Advisor shall not be subject to any
liability to the Trust or the Fund, to any shareholder of the Trust or
the Fund or to any other person, firm or organization, for any act or
omission in the course of, or connected with, rendering services
hereunder.
LIBERTY FUNDS TRUST V on behalf of
LIBERTY GLOBAL YOUNG INVESTOR FUND
By: /s/ Xxxxxxx X. Xxxxxx
__________________________
Xxxxxxx X. Xxxxxx
Secretary
XXXXX XXX & XXXXXXX INCORPORATED
By: /s/ Xxxxx X. Xxxxxx
______________________________
Xxxxx X. Xxxxxx
Executive Vice President
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Fund.
s:/funds/general/contract/lgyifman
