TRANSFER AGENCY AND SERVICE AGREEMENT
AMENDMENT TO
AMENDED AND RESTATED
TRANSFER AGENCY AND SERVICE AGREEMENT
This Amendment to the Amended and Restated Transfer Agency and Service Agreement (“Amendment”) is effective as of the 1st day of July, 2024, by and among The MainStay Funds, a Massachusetts business trust, and MainStay VP Funds Trust and MainStay Funds Trust, each a Delaware statutory trust (each, a “Fund” and collectively, the “Funds”), and NYLIM Service Company LLC (“NSC”), a Delaware limited liability company, having its principal office and place of business at 00 Xxxxxx Xxxxxx, Xxxxxx Xxxx, Xxx Xxxxxx 00000.
WHEREAS, the Funds and NSC are parties to an Amended and Restated Transfer Agency and Service Agreement, dated October 1, 2008, as amended (“Agreement”); and
WHEREAS, pursuant to Article 2.01 and Article 11 of the Agreement, the parties hereby wish to amend the Agreement to
a. update certain provisions relating to as of transactions; and
b. update the Transfer Agency Fee Schedule to reflect the cost-of-living adjustment to the transfer agency fees effective July 1, 2024, as approved by the MainStay Group of Funds’ Board of Trustees at meetings held on June 4-5, 2024.
NOW, THEREFORE, in consideration of the mutual covenants contained in the Agreement and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:
1. Paragraphs iii, iv and vi of Section 1.02(c) are deleted in their entirety and replaced with the following:
(iii) Monitor all Funds across all share classes to determine the accumulated gain or loss effect of “as of” trades. At the end of the fiscal year of each Fund, if the Fund/Class has an accumulated loss (adjusted by the amount of all prior payments and credits by NSC and the Fund), NSC shall pay to the Fund/Class the amount of such loss if it exceeds $0.005 per share, calculated on the basis of the total value of all shares owned by the affected Fund/Class.
(iv) At the end of the Funds’ fiscal year, any positive cumulative net effect upon the Fund/Class shall be retained by the Fund/Class.
(vi) In the event that this Agreement is terminated for whatever cause, or this provision 1.02(c) is terminated pursuant to paragraph (vii) below, if the cumulative net effect upon the Funds is negative, NSC shall promptly pay to the Funds pursuant to paragraph (iii) above.
2. Schedule A of the Agreement is hereby deleted in its entirety and replaced with the Schedule A attached hereto.
IN WITNESS HEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers.
THE MAINSTAY FUNDS
By: Name: Xxxx X. Xxxxxxx
Title: President and Principal Executive Officer
By: Name: Xxxx X. Xxxxxxx
Title: President and Principal Executive Officer
MAINSTAY VP FUNDS TRUST
By: Name: Xxxx X. Xxxxxxx
Title: President and Principal Executive Officer
NYLIM SERVICE COMPANY LLC
By: Name: Xxxx X. Xxxxxxxxxx
Title: President
SCHEDULE A
Effective Date: July 1, 2024
(unless
otherwise indicated)
The MainStay Funds MainStay Candriam Emerging Markets Debt Fund MainStay Income Builder Fund MainStay MacKay Convertible Fund MainStay MacKay High Yield Corporate Bond Fund MainStay MacKay Strategic
Bond Fund MainStay MacKay U.S. Infrastructure Bond Fund MainStay
Money Market Fund MainStay VP Funds Trust all currently available VP Portfolios | MainStay Balanced Fund MainStay Candriam Emerging Markets Equity Fund MainStay CBRE Global Infrastructure Fund MainStay CBRE Real Estate Fund MainStay Conservative Allocation Fund MainStay Conservative ETF Allocation Fund MainStay Xxxxxxx MLP Premier Fund MainStay Epoch Capital Growth Fund MainStay Epoch Global Equity Yield Fund MainStay Epoch International Choice Fund MainStay Epoch U.S. Equity Yield Fund MainStay Equity Allocation Fund MainStay Equity ETF Allocation Fund MainStay Floating Rate Fund MainStay Growth Allocation Fund MainStay Growth ETF Allocation Fund MainStay MacKay California Tax Free Opportunities Fund MainStay MacKay High Yield Municipal Bond Fund MainStay MacKay New York Tax Free Opportunities Fund MainStay MacKay Short Duration High Income Fund MainStay MacKay Short Term Municipal Fund MainStay MacKay Total Return Bond Fund MainStay Moderate Allocation Fund MainStay Moderate ETF Allocation Fund MainStay PineStone Global Equity Fund MainStay PineStone International Equity Fund MainStay PineStone U.S. Equity Fund MainStay S&P 500 Index Fund MainStay Short Term Bond Fund MainStay
U.S. Government Liquidity Fund |
TRANSFER AGENCY FEE SCHEDULE
As Amended effective July 1, 2024
(unless otherwise indicated)
1) Maintenance and Transaction Charges – Billable Monthly*
* For each share class other than Class P, Class R6 and SIMPLE Class shares, the Funds listed below will be billed at the greater of A or B.
A) Per Account Annual Fee:
The following Funds will be billed at a rate of 1/12 of the annual fee for each Fund account serviced during the month. “Accounts serviced” is defined as all open accounts at month end and accounts that close during the month, including underlying Shareholder accounts which may be held in omnibus positions and serviced by other administrators.
THE MAINSTAY FUNDS
EQUITY FUNDS | ACCOUNT RATES |
MainStay Xxxxxxx Large Cap Growth Fund | $25.76 |
MainStay WMC Enduring Capital Fund | $25.76 |
MainStay WMC Value Fund | $25.76 |
FIXED INCOME & BLENDED FUNDS | ACCOUNT RATES |
MainStay Candriam Emerging Markets Debt Fund | $30.95 |
MainStay Income Builder Fund | $30.95 |
MainStay MacKay Convertible Fund | $30.95 |
MainStay MacKay High Yield Corporate Bond Fund | $30.95 |
MainStay MacKay Strategic Bond Fund | $30.95 |
MainStay MacKay Tax Free Bond Fund | $30.95 |
MainStay MacKay U.S. Infrastructure Bond Fund | $30.95 |
MONEY MARKET FUND | ACCOUNT RATES |
MainStay Money Market Fund | $30.11 |
EQUITY FUNDS | ACCOUNT RATES |
MainStay Candriam Emerging Markets Equity Fund | $25.76 |
MainStay CBRE Global Infrastructure Fund | $25.76 |
MainStay CBRE Real Estate Fund | $25.76 |
MainStay Conservative Allocation Fund | $25.76 |
MainStay Xxxxxxx MLP Premier Fund | $25.76 |
MainStay Epoch Capital Growth Fund | $25.76 |
MainStay Epoch Global Equity Yield Fund | $25.76 |
MainStay Epoch International Choice Fund | $25.76 |
MainStay Epoch U.S. Equity Yield Fund | $25.76 |
MainStay Equity Allocation Fund | $25.76 |
MainStay Fiera XXXX Growth Fund | $25.76 |
MainStay Growth Allocation Fund | $25.76 |
MainStay S&P 500 Index Fund | $25.76 |
MainStay Moderate Allocation Fund | $25.76 |
EQUITY FUNDS | ACCOUNT RATES |
MainStay PineStone Global Equity Fund | $25.76 |
MainStay PineStone International Equity Fund | $25.76 |
MainStay PineStone U.S. Equity Fund | $25.76 |
MainStay WMC Growth Fund | $25.76 |
MainStay WMC International Research Equity Fund | $25.76 |
MainStay WMC Small Companies Fund | $25.76 |
FIXED INCOME & BLENDED FUNDS | ACCOUNT RATES |
MainStay Balanced Fund | $30.95 |
MainStay Floating Rate Fund | $30.95 |
MainStay MacKay California Tax Free Opportunities Fund | $30.95 |
MainStay MacKay High Yield Municipal Bond Fund | $30.95 |
MainStay MacKay New York Tax Free Opportunities Fund | $30.95 |
MainStay MacKay Short Duration High Income Fund | $30.95 |
MainStay MacKay Short Term Municipal Fund | $30.95 |
MainStay MacKay Strategic Municipal Allocation Fund | $30.95 |
MainStay MacKay Total Return Bond Fund | $30.95 |
MainStay Short Term Bond Fund | $30.95 |
B) Fund Minimum (CUSIP/Class/Fund):
The Funds listed above will be billed at $458.84 per month per CUSIP (i.e., 1/12 of the annual Fund Minimum charge of $5,506.08) for each Fund serviced during the month that is not being charged at the per account rate. Those Funds that do not have a minimum account volume are charged at the Fund Minimum level until such account volumes are achieved. Seed accounts are excluded from Fund Minimums.
The fees and charges set forth above shall increase annually over the fees and charges during the prior 12 months in an amount equal to the annual percentage of change in the Northeastern Consumer Price Index as last reported by the U.S. Bureau of Labor Statistics.
C) Expense Allocation Methodology
All Funds (except MainStay ETF Asset Allocation Funds1)
For purposes of allocating the transfer agency expenses for each Fund under this Agreement: (i) Class A, Class A2, Class I, Class R1, Class R2, and Class R3 shares will be grouped together as one group; (ii) Investor Class, Class B, Class C and Class C2 shares will be grouped together as a separate group; and (iii) SIMPLE Class, Class P and Class R6 shares will not be grouped together with any other share class.
For each Fund, the transfer agency expenses will be calculated and allocated between the share classes in each group in the following manner:
1. multiplying the total number of accounts in each group of share classes by the per account fee to determine the total transfer agency fees allocable to each group, and
2. allocating the total fees per group among the share classes in the group based on the relative assets of the share classes.
1. The MainStay ETF Asset Allocation Funds consist of MainStay Conservative ETF Allocation Fund, MainStay Equity ETF Allocation Fund, MainStay Growth ETF Allocation Fund, and MainStay Moderate ETF Allocation Fund.
Class P and Class R6 Shares
For Class P and Class R6 shares, a Fund will be charged a transfer agency fee of 0.004% of the average daily net assets attributable to Class P and Class R6 shares of the Fund.
MainStay ETF Asset Allocation Funds
Each share class of the MainStay ETF Asset Allocation Funds will be charged a transfer agency fee as follows:
MAINSTAY ETF ASSET ALLOCATION FUNDS | ACCOUNT RATES |
Shareholder accounts with total value of less than $12,000 | 0.20% on assets |
Shareholder accounts with total value of $12,000 or more to the extent the size of a shareholder account is available | $25.76 |
SIMPLE Class Shares
SIMPLE Class shares of a Fund will be charged a transfer agency fee as follows:
SIMPLE CLASS SHARES | ACCOUNT RATES |
Shareholder accounts with total value of less than $12,000 | 0.20% on assets |
Shareholder accounts with total value of $12,000 or more to the extent the size of a shareholder account is available | Each Fund’s respective Account Rate as set forth in Section 1). A above |
2) Other Items
A) New MainStay Funds
New MainStay Funds that contain “seed money” only will not be charged the Fund Minimum.
B) Fund Billing Restrictions/Caps
In order to facilitate the introduction of New Fund and Products and keep transfer agency expenses at a minimum, certain billing restrictions and/or Caps apply to New Funds (except the MainStay ETF Asset Allocation Funds). New Funds (Class A, A2, C, C2, I, R1, R2, and R3) are charged a maximum transfer agency expense of 25 basis points for one year. After one year, the Fund expenses are reviewed and, at Management discretion, will either continue to be charged the 25 basis points maximum or commencement of the per account rate or Fund Minimum charge will begin.
IN WITNESS WHEREOF, each of the Funds listed below and NYLIM Service Company LLC have agreed upon this Transfer Agency Fee Schedule and have caused this Transfer Agency Fee Schedule to be executed in their names and on their behalf by and through their duly authorized officers as of the day and year first written above.
THE MAINSTAY FUNDS
By: Name: Xxxx X. Xxxxxxx
Title: President and Principal Executive Officer
By: Name: Xxxx X. Xxxxxxx
Title: President and Principal Executive Officer
MAINSTAY VP FUNDS TRUST
By: Name: Xxxx X. Xxxxxxx
Title: President and Principal Executive Officer
NYLIM SERVICE COMPANY LLC
By: Name: Xxxx X. Xxxxxxxxxx
Title: President
