August 11, 2015
EX.99.h.1.a
August 11, 2015
Xxxx Xxxxxxx
Aberdeen Asset Management Inc.
0000 Xxxxxx Xx.
32nd Floor
Philadelphia PA, 19103
VIA HAND DELIVERY
Dear Xx. Xxxxxxx,
Reference is made to the Administration Agreement made between Aberdeen Funds and Aberdeen Asset Management Inc. (the “Administrator”) dated as of February 7, 2008, as amended and supplemented (the “Agreement”). This letter is to provide notice that Board of Trustees of Aberdeen Funds took the following actions:
· approved the liquidation of each of Aberdeen Asia-Pacific Smaller Companies Fund, Aberdeen European Equity Fund, Aberdeen Latin American Equity Fund, Aberdeen Ultra-Short Duration Bond Fund (each, a “Liquidating Fund”), to take place on or about August 15, 2015; and
· approved the acquisition by the Aberdeen Emerging Markets Debt Fund of all of the assets of the Aberdeen Emerging Markets Debt Local Currency Fund on or about August 15, 2016; and
· approved changing the name of the Aberdeen Global Fixed Income Fund to “Aberdeen Global Unconstrained Fixed Income Fund”, to be effective on or about August 15, 2016.
The foregoing are reflected in the attached amended and restated Exhibit B to the Agreement, to be effective August 15, 2016.
Each Liquidating Fund will require the services of the Administrator in winding up the affairs of such Fund, including completing final reporting and filing requirements for the Fund and any year-end tax related matters.
Please indicate your acceptance of the foregoing by executing this letter and the attached Exhibit B.
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Sincerely, | |
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By: |
/s/ Xxxxx Xxxxx |
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Name: |
Xxxxx Xxxxx |
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Title: |
Vice President |
Acknowledged by: |
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ABERDEEN ASSET MANAGEMENT INC. |
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By: |
/s/ Xxxx Xxxxxxx |
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Name: |
Xxxx Xxxxxxx |
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Title: |
Vice President |
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EXHIBIT B
Fee Schedule
Effective June 1, 2010
As amended effective August 15, 2015*
Fees
The Trust shall pay fees to the Administrator, as set forth in the schedule directly below, for the provision of services covered by this Agreement. Fees will be computed daily and payable monthly at an annual rate based on the aggregate amount of the Trust’s average daily net assets. The Trust will also be responsible for out-of-pocket expenses (including, but not limited to, the cost of the pricing services that the Administrator utilizes and any networking fees paid as out-of-pocket expenses) reasonably incurred by the Administrator and in providing services to the Trust. All fees and expenses shall be paid by the Trust to the Administrator on behalf of the Administrator.
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Aggregate Fee as a |
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Fund Asset Level |
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Percentage of Fund Net Assets |
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All Assets |
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0.08 |
% |
The asset-based fees are subject to an annual minimum fee equal to the number of Funds multiplied by $25,000. If the asset-based fees do not meet the annual minimum, the amount needed to meet the minimum will be paid by the Funds on a pro rata basis, according to each Fund’s average net assets.
Funds of the Trust
Aberdeen Global Equity Fund
Aberdeen China Opportunities Fund
Aberdeen Emerging Markets Fund
(formerly, Aberdeen Emerging Markets Institutional Fund)
Aberdeen International Equity Fund
Aberdeen Equity Long-Short Fund
Aberdeen Global Natural Resources Fund
Aberdeen Dynamic Allocation Fund
(formerly, Aberdeen Optimal Allocations Fund: Moderate Growth)
Aberdeen Diversified Income Fund
(formerly, Aberdeen Optimal Allocations Fund: Moderate)
Aberdeen Diversified Alternatives Fund
(formerly, Aberdeen Optimal Allocations Fund: Specialty)
Aberdeen U.S. Small Cap Equity Fund
(formerly, Aberdeen Small Cap Fund)
Aberdeen International Small Cap Fund
(formerly, Aberdeen Global Small Cap Fund)
Aberdeen Asia Pacific (ex-Japan) Equity Fund
Aberdeen Global Unconstrained Fixed Income Fund
(formerly, Aberdeen Global Fixed Income Fund)
Aberdeen Asia Bond Fund
Aberdeen Tax-Free Income Fund
Aberdeen Ultra-Short Duration Bond Fund*
Aberdeen Asia-Pacific Smaller Companies Fund*
Aberdeen U.S. Equity Multi-Cap Fund
(formerly, Aberdeen U.S. Equity Fund Fund)
Aberdeen Emerging Markets Debt Fund
Aberdeen European Equity Fund*
Aberdeen Latin American Equity Fund*
Aberdeen Japanese Equities Fund
* On June 15, 2016, the Board of Trustees of the Trust approved the liquidation of the Fund, which liquidation is expected to take place on or about August 15, 2016. The Fund shall be deemed removed from this Exhibit B effective as of the date that the winding-up of the Fund’s affairs is complete and the Administrator is no longer providing services with respect to the Fund.
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By: |
/s/ Xxxxx Xxxxx |
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Name: Xxxxx Xxxxx | |
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Title: Vice President | |
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ABERDEEN ASSET MANAGEMENT INC. | |
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By: |
/s/ Xxxx Xxxxxxx |
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Name: Xxxx Xxxxxxx | |
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Title: Vice President |