Exhibit 1m
CONSULTING GROUP CAPITAL MARKETS FUNDS
AMENDMENT NO. 12
TO
MASTER TRUST AGREEMENT
AMENDMENT NO. 12 (the "Amendment") to the Master Trust Agreement dated
April 12, 1991 (the "Agreement") of Consulting Group Capital Markets Funds (the
"Trust"), made as of the 17th day of April, 2003.
WITNESSETH:
WHEREAS, Article VII, Section 7.3 of the Agreement provides that the
Agreement may be amended at any time, so long as such amendment does not
adversely affect the rights of any shareholder and so long as such amendment is
not in contravention of applicable law, including the Investment Company Act of
1940, as amended, (the "1940 Act") by an instrument in writing signed by an
officer of the Trust pursuant to a vote of a majority of the Trustees; and
WHEREAS, the Trustees have the authority under Article IV, Section 4.2(d)
of the Agreement to authorize the liquidation of any particular Sub-Trust (as
defined in the Agreement) of the Trust, subject to the approval of a majority of
the outstanding voting Shares, as defined in the Agreement, of that Sub-Trust,
as defined in the 1940 Act; and
WHEREAS, on November 8, 2002, at a special telephone meeting of the Board
of Trustees, the Trustees voted to authorize the liquidation of S & P 500 Index
Investments (the "Fund"), a Sub-Trust of the Trust; and effective upon such
liquidation, to abolish the Fund in accordance with Section 4.1 of the
Agreement; and
WHEREAS, on January 10, 2003, a majority of shareholders of the Fund voted
to approve the liquidation and abolishment of the Fund; and
WHEREAS, on April 17, 2003, S & P 500 Index Investments was liquidated; and
WHEREAS, the undersigned has been duly authorized by the Trustees to
execute and file this Amendment No. 12 to the Agreement; and
NOW, THEREFORE, the Agreement is hereby amended as follows:
1. The first paragraph of Article IV, Section 4.2 of the Agreement is
hereby amended to read in pertinent part as follows:
"Section 4.2 Establishment and Designation of Sub-Trusts. Without limiting
the authority of the Trustees set forth in Section 4.1 to establish and
designate any further Sub-Trusts, the Trustees hereby establish and designate
the following Sub-Trusts: Balanced Investments, Emerging Markets Equity
Investments, Government Money
Investments, High Yield Investments, Intermediate Fixed Income Investments,
International Equity Investments, International Fixed Income Investments, Large
Capitalization Growth Investments, Large Capitalization Value Equity
Investments, Long-Term Bond Investments, Mortgage Backed Investments, Municipal
Bond Investments, Small Capitalization Growth Investments, Small Capitalization
Value Equity Investments, Multi-Strategy Market Neutral Investments and
Multi-Sector Fixed Income Investments. The shares of such Sub-Trusts and any
shares of any further Sub-Trusts that may from time to time be established and
designated by the Trustees shall (unless the Trustees otherwise determine with
respect to some further Sub-Trust at the time of establishing and designating
the same) have the following relative rights and preferences."
The undersigned hereby certifies that the Amendment set forth above has
been duly adopted in accordance with the provisions of the Agreement.
IN WITNESS WHEREOF, the undersigned has hereto set her hands as of the day
and year first above written.
CONSULTING GROUP CAPITAL MARKETS FUNDS
By:_________________________________________
Name: Xxxxxxx X. Xxxxx
Title: Assistant Secretary
