Exhibit g(vi)
State Street Bank and Trust Company
0000 Xxxxxxxx Xxxxx
Xxxxx Xxxxxx, XX 00000
Gentlemen:
Pursuant to Section 18 of the Amended and Restated Custodian Agreement
dated as of July 31, 2006, between USAA Mutual Funds Trust (the Trust) and State
Street Bank and Trust Company (the Custodian), please be advised that the Trust
has established one new series of its shares, namely, the Global Opportunities
Fund (the Fund), and please be further advised that the Trust desires to retain
the Custodian to render custody services under the Custodian Agreement to the
Fund in accordance with the fee schedule attached hereto as Exhibit A.
Please state below whether you are willing to render such services in
accordance with the fee schedule attached hereto as Exhibit A.
USAA MUTUAL FUNDS TRUST
Attest: By:
--------------------------- ---------------------------
Secretary President
Dated: July ___, 2008
We are willing to render custody services to the Global Opportunities Fund
in accordance with the fee schedules attached hereto as Exhibit A.
STATE STREET BANK AND TRUST
COMPANY
Attest: By:
--------------------------- ---------------------------
Dated:
Exhibit A
STATE STREET BANK & TRUST COMPANY
CUSTODY AND ACCOUNTING FEE SCHEDULE
USAA MUTUAL FUNDS TRUST
EFFECTIVE JULY 1, 2007
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I. DOMESTIC CUSTODY
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Maintain custody of fund assets. Settle portfolio purchases and sales.
Report trade fails. Determine and collect portfolio income. Make cash
disbursements and report cash transactions. Monitor corporate actions.
Report portfolio positions.
The fee shown below is annualized, billed and payable monthly and based on
the aggregate assets of all USAA accounts serviced by State Street
First $20 billion 0.25 basis points
Next $20 billion 0.20 basis points
Excess 0.15 basis points
TRANSACTIONS
DTC (non-ETD) $12.00
DTC (ETD) $5.00
Fed Book Entry (non-ETD) $12.00
Fed Book Entry (ETD) $5.00
PTC (non-ETD) $20.00
PTC (ETD) $15.00
Physical Settlements $25.00
Maturity collections $8.00
In Kind Transfers (DTC) $7.00
Paydowns $2.00
Third party foreign exchange trades $30.00
Call Monitoring $5.00
Fund of Fund Trades $5.00
All other trades $16.00
Written options $25.00
Closed options $15.00
Futures transactions - no security movement $8.00
Margin payments $6.00
Fund trades $30.00
Affirmations $1.00
CWP (per check) .00
Xxxxx Xxxxxx Repo No charge
State Street FX No charge
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II. GLOBAL CUSTODY
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SUB-CUSTODIAN ASSET BASED FEES**
A fee payable monthly on a pro rata basis, based on the following percentages of
month end net assets.
BASIS POINT
COUNTRY CHARGES TRANSACTION FEES
Argentina 12.0 $ 50
Australia 1.0 $ 20
Austria 5.0 $ 40
Bahrain 40.0 $100
Bangladesh 40.0 $100
Belgium 1.0 $ 20
Bermuda 12.0 $ 75
Bolivia 40.0 $100
Botswana 40.0 $ 75
Brazil 8.0 $ 40
Bulgaria 20.0 $ 75
Canada 2.5 $ 20
Chile 20.0 $ 75
China 20.0 $100
Colombia 40.0 $100
Croatia 40.0 $ 75
Cyprus 40.0 $100
Czech Rep 8.0 $ 75
Denmark 1.0 $ 20
Ecuador 40.0 $ 75
Egypt 10.0 $ 50
Estonia 40.0 $ 40
Euroclear 2.5 $ 20
Finland 1.0 $ 20
France 2.5 $ 20
Germany 2.5 $ 20
Ghana 40.0 $ 75
Greece 8.0 $ 30
Hong Kong 6.0 $ 25
Hungary 12.0 $ 75
Iceland 12.0 $ 25
India 15.0 $100
Indonesia 8.0 $ 50
Ireland 8.0 $ 50
Israel 12.0 $ 50
Italy 2.5 $ 20
Ivory Coast 40.0 $ 75
Jamaica 40.0 $ 75
Japan 2.5 $ 20
Jordan 12.0 $100
Kenya 20.0 $ 75
Latvia 40.0 $ 50
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BASIS POINT
COUNTRY CHARGES TRANSACTION FEES
Lebanon 40.0 $100
Lithuania 12.0 $ 50
Malaysia 6.0 $ 50
Mauritius 20.0 $ 75
Mexico 6.0 $ 25
Morocco 20.0 $ 75
Namibia 20.0 $ 50
Netherlands 1.0 $ 20
New Zealand 1.0 $ 20
Norway 1.0 $ 20
Oman 40.0 $100
Pakistan 20.0 $100
Peru 40.0 $100
Philippines 8.0 $ 50
Poland 15.0 $ 50
Portugal 8.0 $ 50
Puerto Rico 8.0 $ 50
Romania 12.0 $ 75
Russia 20.0 $ 75
S Africa 6.0 $ 20
Singapore 6.0 $ 40
Slovak Rep 20.0 $ 75
Slovenia 40.0 $ 75
South Korea 1.0 $ 20
Spain 5.0 $ 20
Sri Lanka 12.0 $ 75
Swaziland 40.0 $ 75
Sweden 3.0 $ 20
Switzerland 1.0 $ 20
Taiwan 10.0 $ 40
Thailand 6.0 $ 40
Trin & Tobago 40.0 $ 75
Tunisia 40.0 $ 40
Turkey 30.0 $ 40
UK 2.5 $ 20
Ukraine 40.0 $100
Uruguay 40.0 $ 75
Venezuela 40.0 $100
Viet Nam 40.0 $100
Zambia 40.0 $100
Zimbabwe 40.0 $100
**Excludes: Agent, depository and local auditing fees, stamp duties and
registration fees
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III. SECURITIES LENDING (PROGRAM RUN BY THIRD PARTY)
Securities Lending Fees have been moved to Attachment A, as third party
lending agent is paying fees directly to State Street
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IV. FUND ACCOUNTING
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RECORDKEEPING
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Maintain investment ledgers, provide selected portfolio transactions,
position and income reports. Maintain general ledger and capital stock
accounts. Prepare daily trial balance. Calculate Net Asset Value daily.
Provide selected general ledger reports. The fee shown below is
annualized, billed and payable monthly and based on the aggregate
assets of the Mutual Funds.
NON-MONEY MARKET FUNDS
----------------------
First $18 billion 0.80 basis points
Excess 0.50 basis points
Minimum monthly charge Waived
MONEY MARKET FUNDS
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First $8 billion 0.40 basis points
Excess 0.20 basis points
Minimum monthly charge Waived
ADVERTISED YIELD
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For each portfolio maintain, monthly charge is based on the number of
holdings as followed:
HOLDINGS PER PORTFOLIO MONTHLY FEE
0 to 50 $250.00
50 to 100 $300.00
Over 100 $350.00
AUTOMATED PRICING VIA NAVIGATOR (EXCLUDES FUND OF FUNDS)
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Quote Charge (based on month end positions
Municipal Bonds via Xxxxxx Data $10.00
Municipal Bonds via Xxxxx Information Systems $16.00
Government, corporate, and conv. bonds via Bridge $11.00
Corporate and government bonds via Bridge $11.00
Government, corporate, and conv. bonds via FT Interactive $16.00
Corporate and government bonds via FT Interactive $16.00
Options, futures and private placements $6.00
Foreign equities and bonds $6.00
Listed equities, OTC equities and bonds $6.00
Corporate, municipal, convertible, and government
Bonds, adjustable rate preferred stocks via IDSI $12.00
MULTI-MANAGED FUNDS
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For each additional portfolio, the fund will be charged $10,000
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V. ENHANCED ACCOUNTING SERVICES - FUND ADMINISTRATION
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The following fees are for limited fund administration services or remote
access to technology platforms. All fees quoted are expressed in annual
terms unless expressly noted.
* Performance calculations on multi-managed portfolios $2,000
(fee applies to each multi-manager portfolio)
* Specialized fund administration reporting $250
(fee is per report per fund)
- NSAR Broker
- Top ten holdings
- Series Broker allocation
- Dividend received deduction
- 45 day dividend reporting
- Government income breakdown/income by state (fee waived
for this report)
- Massachusetts State reporting
* Specialized fund administration system applications
- Fund Administration Workstation
(remote access for all funds) $75,000
Before/After tax return module (waived)
(the waiver relates to returns module only.
Use of other FA workstation functions will
require additional fees)
- Wash Sale System
(On demand reporting)
- Equity Fund (per fund) $5,000
- Fixed Income Fund (per fund) $3,000
- iTELS - tax efficient lot selection application $2,500
(service performed by State Street) per fund
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VI. STATE STREET COMPLIANCE 38
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COMPLIANCE REPORTING $600.00 PER YEAR PER FUND
* Copies of procedures and controls
(revisions to be provided periodically)
at a summary and detail level
* Annual certification of procedures and controls by State Street
* CCO Forums/Workshops
3RD PARTY AUDIT REVIEW RECOVERED AS OUT OF POCKET
BOARD REPORTING (TRAVEL EXPENSES) RECOVERED AS OUT OF POCKET
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VII. SPECIAL SERVICES
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Fees for activities of a non-recurring nature such as fund
consolidations or reorganizations, extraordinary security shipments and
the preparation of special reports will be subject to negotiation.
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IX. BALANCE CREDITS
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For the Mutual Funds only, a balance credit will be applied against the
custody fees or other fees as directed by USAA (excluding out-of-pocket
expenses). The credit is based on 90% of the average Fed Funds rate for
the month, times the average collected balance ( collected balance is
positive balance).
Overdrafts due to overspending/client errors or third party agent
errors will be charged at a rate of Fed Funds plus 50 basis points.
Total overdraft charges will be applied to the monthly custody bills.
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X. OUT-OF-POCKET EXPENSES
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A billing for the recovery of applicable out-of-pocket expenses will be
made as of the end of each month. These expenses have been separated
into 2 categories; recurring and variable.
RECURRING OUT-OF-POCKET EXPENSES
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Out-of-pocket expenses related to duplicating, courier service,
postage/insurance, supplies related to fund records,
communication/equipment costs (telephone, lease lines, etc.), and
third-party internal control review will be charged back to the funds
at a fixed monthly fee.
$315.00/month per fund
VARIABLE OUT-OF-POCKET EXPENSES
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Variable out-of-pocket expenses will be billed as they occur. These
out-of-pocket expenses include, but are not limited to the following:
- Proxy Fees
- Transfer fees
- Sub-Custodian out-of-pocket charges, market fees, registration fees,
stamp duties, etc.
- Customized programming/transmissions @ $175 per hour)
(100 hours for free)
- Annual fee for each customized program/transmission ($3,000)--1st
three are free
- Non recurring legal fees - Wires ($5.00)
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All fees above will be charged against the Fund's custodian account five (5)
business days after the invoice is sent to the Fund's offices. Payment does not
preclude any required billing adjustments that will be made to the following
months bill.
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STATE STREET USAA MUTUAL FUNDS TRUST
By X Xxxxxxx By Xxxxxxx Xxxxxxx Xx.
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Title VP Title Assistant Treasurer
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Date 7/31/07 Date 8/8/07
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STATE STREET BANK AND TRUST COMPANY
ATTACHMENT A
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THIRD PARTIES SECURITIES LENDING-FEE SCHEDULE
(PROGRAM RUN BY METROPOLITAN WEST SECURITIES)
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ADMINISTRATION FEE
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For reporting of fails, cash collateral, shares on loan, past due income.
Services related to income collection and corporate action support. The fee
shown below is annualized, billed and payable monthly.
Prime Meridian access* $1,080.00
*for accounts NOT already billed by SSC's Cash Management group
DOMESTIC (DTC, FED)
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Deliver/Receive loaned securities versus cash/
securities collateral (ETD) $7.00
Loan Administration--DTC SPO $5.00
Wire transfer $5.00
NON-US (SLEEVES USED IN SECTION V)
---------------------------------
Deliver/Receive loaned securities versus cash/ securities collateral
Group I $25.00
Group II $40.00
Group III $50.00
Group IV $75.00
Group V $100.00
OTHER CUSTODY CHARGES
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Domestic Collateral Account Holdings* .4 basis point
Collateral transactions:
DTC, Fed Buy/Sell/Maturity $7.00
Wire in/out $5.00
*based on month end market values of collateral accounts
TRANSMISSION OF CUSTODY POSITIONS AND ACTIVITY
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Programming for standard transmission. Transmission set up, integration testing
and maintenance.
$175.00 per hour
1A
