AMENDMENT TO AGREEMENT TO WAIVE FEES AND REIMBURSE EXPENSES OF CERTAIN FUNDS OF THORNBURG INVESTMENT TRUST
Xxxxxxxxx Investment Trust 485BPOS
Exhibit 99.(h)(8)
AMENDMENT TO AGREEMENT TO WAIVE FEES AND REIMBURSE EXPENSES
OF CERTAIN FUNDS OF XXXXXXXXX INVESTMENT TRUST
This Amendment, dated effective as of September 30, 2020, (the “Amendment”), amends the Agreement to Waive Fees and Reimburse Expenses of Certain Funds of Xxxxxxxxx Investment Trust, which was effective February 1, 2020, as previously amended (the “Agreement”), between Xxxxxxxxx Investment Trust (the “Trust”) and Xxxxxxxxx Investment Management, Inc. (the “Advisor”).
WHEREAS, pursuant to the Agreement, the Advisor has agreed to waive certain fees or reimburse certain expenses of specific series of the Trust and classes of shares thereof, to the extent necessary to reduce the annualized operating expenses of those series and classes of shares (excluding certain categories of expenses described in the first sentence of paragraph 3 of the Agreement) to the percentage rates reflected in Schedule A of the Agreement; and
WHEREAS, the Advisor has agreed to additional reductions in the annualized operating expenses of certain series and classes of shares, extensions of the period of time for which the fee waivers and expense reimbursements will remain in place for certain series and classes of shares, and new fee waivers and expense reimbursements relating to the Class C2 shares of the Xxxxxxxxx Intermediate Municipal Fund and the Xxxxxxxxx California Limited Term Municipal Fund, all as described herein;
NOW THEREFORE, in consideration of the mutual agreements herein contained, the Trust and the Advisor hereby agree to amend the Agreement as follows:
1. Commencing on September 30, 2020, Schedule A of the Agreement is revised to reflect the following new annualized operating expense levels:
Fund and Share Class | Total Operating Expense |
Xxxxxxxxx Intermediate Municipal Fund – Class C2 | 1.14% |
Xxxxxxxxx California Limited Term Municipal Fund – Class C2 | 1.02% |
Xxxxxxxxx Ultra Short Income Fund – Class A | 0.50% |
Xxxxxxxxx Ultra Short Income Fund – Class C | 0.30% |
Xxxxxxxxx Value Fund – Class A | 1.18% |
Xxxxxxxxx Value Fund – Class C | 2.04% |
Xxxxxxxxx Value Fund – Class I | 0.84% |
Xxxxxxxxx Value Fund – Class R3 | 1.20% |
Xxxxxxxxx Value Fund – Class R4 | 1.10% |
Xxxxxxxxx Value Fund – Class R5 | 0.84% |
Xxxxxxxxx Core Growth Fund – Class A | 1.20% |
Xxxxxxxxx Core Growth Fund – Class C | 2.03% |
Xxxxxxxxx Core Growth Fund – Class I | 0.84% |
Xxxxxxxxx Core Growth Fund – Class R3 | 1.35% |
Xxxxxxxxx Core Growth Fund – Class R4 | 1.25% |
Xxxxxxxxx Core Growth Fund – Class R5 | 0.84% |
2. The Advisor’s obligation to waive fees and reimburse expenses to the extent necessary to reduce the annualized operating expenses of the following Funds and share classes to the levels set forth in Schedule A, as revised by Section 1 above, shall continue through September 30, 2021, the date on which the Advisor ceases to offer such Fund or share class, or the date upon which the Advisor ceases to be the investment advisor for such Fund, whichever occurs sooner: (a) Xxxxxxxxx Short Duration Municipal Fund Classes A and I; (b) Xxxxxxxxx Intermediate Municipal Fund Classes A, C, C2, and I; (c) Xxxxxxxxx California Limited Term Municipal Fund Classes A, C, C2, and I; (d) Xxxxxxxxx Ultra Short Income Fund Classes A and I; and (f) Xxxxxxxxx Limited Term Income Fund Class I.
3. The Advisor’s obligation to waive fees and reimburse expenses to the extent necessary to reduce the annualized operating expenses of the Class A, C, I, R3, R4, and R5 shares of the Xxxxxxxxx Value Fund and Xxxxxxxxx Core Growth Fund to the levels set forth in Section 1 above shall continue through January 31, 2022.
4. Except as specifically amended hereby, all other terms and conditions of the Agreement shall remain in full force and effect.
XXXXXXXXX INVESTMENT MANAGEMENT, INC. |
XXXXXXXXX INVESTMENT TRUST | |||
By: | /s/ Xxxxxx X. Xxxxx | By: | /s/ Xxxxxx Xxxxxxxx | |
Print Name: | Xxxxxx X. Xxxxx | Print Name: | Xxxxxx Xxxxxxxx | |
Title: | Chief Financial Officer | Title: | Treasurer |