Exhibit (h)(viii)
FUND ACCOUNTING AGREEMENT
-------------------------
THIS AGREEMENT made and effective as of the 3rd day of June, 2002, by
and between INVESTMENT COMPANY CAPITAL CORPORATION, a Maryland Corporation
("ICCC"), on behalf of the mutual funds listed on Exhibit A, as may be amended
from time to time (each a "Fund," collectively, the "Funds"), and XXXXXXX FUND
ACCOUNTING CORPORATION, a corporation organized under the laws of the
Commonwealth of Massachusetts ("Xxxxxxx").
WHEREAS, ICCC is the administrative service provider or fund
accounting agent for the Funds; and
WHEREAS, the Funds are registered as "investment companies" under the
Investment Company Act of 1940 (the "1940 Act"); and
WHEREAS, Xxxxxxx is an accounting service provider affiliated with
ICCC and the Funds; and
WHEREAS, ICCC performs certain administrative and/or accounting
services for each of the Funds, pursuant to certain agreements listed on
Appendix B; and
WHEREAS, ICCC wishes to sub-contract certain fund accounting services
to Xxxxxxx, on behalf of each Fund, and Xxxxxxx is willing to accept such
sub-contract and appointment to perform certain fund accounting services in
connection with maintaining certain accounting records of each Fund on a
computerized accounting system (the "Portfolio Accounting System");
NOW, THEREFORE, in consideration of the mutual promises herein
contained, the parties hereto, intending to be legally bound, mutually covenant
and agree as follows:
1. Appointment of Recordkeeping Agent. Subject to the terms and
conditions set forth in this Agreement, ICCC hereby delegates and
appoints Xxxxxxx as fund accounting agent for each Fund to perform
accounting functions related to portfolio transactions required of
each Fund under Rule 31a-1 of the 1940 Act and to calculate the net
asset value of the each Fund.
2. Representations and Warranties of ICCC. ICCC hereby represents,
warrants and acknowledges to Xxxxxxx:
A. ICCC is a corporation duly organized and existing and in good
standing under the laws of the State of Maryland;
B. ICCC has the requisite power and authority under applicable
law, its charter or articles of incorporation and its bylaws
to enter into and perform this Agreement; this Agreement has
been duly executed and delivered by ICCC; and this Agreement
constitutes a legal, valid and binding obligation of ICCC,
enforceable in accordance with its terms; and
C. ICCC has determined to its satisfaction that the Portfolio
Accounting System is appropriate and suitable for the needs of
each Fund.
3. Representations and Warranties of Xxxxxxx. Xxxxxxx hereby represents,
warrants and acknowledges to ICCC for the benefit of each of the Funds:
X. Xxxxxxx is a corporation duly organized and existing and in
good standing under the laws of the Commonwealth of
Massachusetts;
X. Xxxxxxx has the requisite power and authority under applicable
law, its charter or articles of incorporation and its bylaws
to enter into and perform this Agreement; this Agreement has
been duly executed and delivered by Xxxxxxx; and this
Agreement constitutes a legal, valid and binding obligation of
Xxxxxxx, enforceable in accordance with its terms; and
C. The accounts maintained and preserved by Xxxxxxx shall be the
property of ICCC for the benefit of each of the Funds and
Xxxxxxx will not use any information made available to Xxxxxxx
under the terms hereof for any purpose other than complying
with its duties and responsibilities hereunder or as
specifically authorized by ICCC on behalf of each of the Funds
in writing.
4. Duties and Responsibilities of ICCC.
-----------------------------------
A. ICCC, on behalf of each Fund, shall turn over to Xxxxxxx each
Fund's accounts previously maintained, if any.
B. ICCC, on behalf of each Fund, shall provide to Xxxxxxx the
information necessary to perform Xxxxxxx'x duties and
responsibilities hereunder in writing or its electronic or
digital equivalent prior to the close of the New York Stock
Exchange on each day on which Xxxxxxx prices the Fund's
securities and foreign currency holdings.
C. ICCC, on behalf of each Fund, shall furnish Xxxxxxx the
declaration, record and payment dates and amounts of any
dividends or income and any other special actions required
concerning the securities in the portfolio when such
information is not readily available from generally accepted
securities industry services or publications.
D. ICCC shall pay to Xxxxxxx such compensation at such time as
may from time to time be agreed upon in writing by Xxxxxxx and
ICCC for the performance of services by Xxxxxxx for each Fund
under this Agreement. The initial compensation schedule is
attached as Exhibit C.
E. ICCC, on behalf of each Fund, shall provide to Xxxxxxx, as
conclusive proof of any fact or matter required to be
ascertained from any Fund as reasonably determined by Xxxxxxx,
a certificate signed by the Fund's president or other officer
of the Fund, or other authorized individual, as reasonably
requested by Xxxxxxx. ICCC, on behalf of each Fund, shall also
provide to Xxxxxxx instructions with respect to any matter
concerning this Agreement requested by Xxxxxxx. Xxxxxxx may
rely upon any instruction or information furnished by any
person reasonably believed by it to be an officer or agent of
ICCC, acting on behalf of each Fund, and shall not be held to
have notice of any change of authority of any such person
until receipt of written notice thereof from ICCC.
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5. Duties and Responsibilities of Xxxxxxx.
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X. Xxxxxxx shall perform each of the services, all as
specifically set forth in Exhibit X.
X. Xxxxxxx shall calculate each Fund's net asset value in
accordance with each Fund's prospectus. Xxxxxxx will price the
securities of each Fund for which market quotations are
available by the use of outside services designated by the
Fund which are normally used and contracted with for this
purpose; all other securities will be priced in accordance
with the Fund's Board approved valuation procedures.
X. Xxxxxxx shall prepare and maintain, with the direction and as
interpreted by ICCC or each Fund's accountants and/or other
advisors, in complete, accurate, and current form, all
accounts and records needed to be maintained as a basis for
calculation of each Fund's net asset value, and as further
agreed upon by the parties in writing, and shall preserve such
records in the manner and for the periods required by law or
for such longer period as the parties may agree upon in
writing.
X. Xxxxxxx shall make available to ICCC, each Fund for inspection
or reproduction within a reasonable time, upon demand, all
accounts and records of the Funds maintained and preserved by
Xxxxxxx.
X. Xxxxxxx shall be entitled to rely conclusively on the
completeness and correctness of any and all accounts and
records turned over to it by ICCC on behalf of each Fund.
X. Xxxxxxx shall assist each Fund's independent accountants, or
upon approval of ICCC, or any Fund or upon demand, any
regulatory body, in any requested review of any Fund's
accounts and records maintained by Xxxxxxx but shall be
reimbursed by ICCC for all expenses and employee time invested
in any such review outside of routine and normal periodic
reviews. Inspections conducted by the Securities and Exchange
Commission shall be considered routine.
G. Upon receipt from ICCC on behalf of each Fund of any necessary
information or instructions, Xxxxxxx shall provide information
from the books and records it maintains for the Funds that any
of the Funds needs for tax returns, questionnaires, or
periodic reports to shareholders and such other reports and
information requests as ICCC, on behalf of any Fund, and
Xxxxxxx shall agree upon from time to time.
X. Xxxxxxx shall not have any responsibility hereunder to ICCC,
any Fund, any Fund's shareowners or any other person or entity
for moneys or securities of any Fund, whether held by any Fund
or custodians of any Fund.
6. Delegation. Xxxxxxx may employ, at its own expense, one or more
agents from time to time to perform such of the acts and services of
Xxxxxxx and upon such terms and conditions as may be agreed upon
between Xxxxxxx and such agents and approved by the Board of Trustees
of the Trust.
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7. Indemnification.
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A. ICCC shall indemnify and hold Xxxxxxx harmless from and
against any and all costs, expenses, losses, damages, charges,
reasonable counsel fees, payments and liabilities which may be
asserted against or incurred by Xxxxxxx, or for which it may
be liable, arising out of or attributable to:
x. Xxxxxxx'x action or omission to act pursuant hereto
except for any loss or damage arising form any
negligent act or willful misconduct of Xxxxxxx or its
designated sub-contractor.
ii. Xxxxxxx'x payment of money as requested by ICCC, on
behalf of each Fund, or the taking of any action
which might make Xxxxxxx liable for payment of money;
provided, however, that Xxxxxxx shall not be
obligated to expend its own moneys or to take any
such action except in Xxxxxxx'x sole discretion.
iii. Xxxxxxx'x action or omission to act hereunder in good
faith reliance on any instructions, advice, notice,
request, consent, certificate or other instrument or
paper appearing to it to be genuine and to have been
properly executed.
iv. Xxxxxxx'x action or omission to act in good faith
reliance on the opinion of outside counsel acceptable
to both ICCC and Xxxxxxx.
x. Xxxxxxx'x action or omission to act in good faith
reliance on statements of counsel to ICCC and any
Fund, any Fund's independent accountants, and any
Fund's officers or other authorized individuals
provided by any Fund's resolution.
vi. The legality of the issue, sale or purchase of any
shares of the Funds, the sufficiency of the purchase
or sale price, or the declaration of any dividend by
any of the Funds, whether paid in cash or stock.
vii. Any error, omission, inaccuracy or other deficiency
in any Fund's accounts and records or other
information provided by or on behalf of ICCC to
Xxxxxxx, or the failure of ICCC to provide, or
provide in a timely manner, the information needed by
Xxxxxxx to perform the Services hereunder.
viii. ICCC's refusal or failure to comply with the terms of
this Agreement, ICCC's negligence or willful
misconduct in connection with the performance of its
duties hereunder, or the failure of any
representation of ICCC hereunder to be and remain
true and correct in all respects at all times.
ix. The use or misuse, whether authorized or
unauthorized, of the Portfolio Accounting System or
other computerized recordkeeping and reporting system
to which Xxxxxxx provides ICCC, on behalf of each
Fund direct access hereunder or of any other
electronic system of communication used hereunder by
ICCC or by any person who acquires access to such
system(s) through a
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terminal device, passwords, access instruction or
other means of access to such system(s) which are
utilized by, assigned to or otherwise made available
to ICCC, except to the extent attributable to any
negligence or willful misconduct by Xxxxxxx.
X. Xxxxxxx shall indemnify and hold ICCC harmless from and
against any and all costs, expenses, losses, damages, charges,
reasonable counsel fees, payments and liabilities which may be
asserted against or incurred by ICCC or for which it may be
liable, arising out of or attributable to:
x. Xxxxxxx'x refusal or failure to comply with the terms
of this Agreement or the failure of any
representation or warranty of Xxxxxxx hereunder to be
and remain true and correct in all respects at all
times.
ii. Any negligent or willful misconduct of Xxxxxxx,
including direct losses occasioned by the negligent
error of Xxxxxxx in calculating any Fund's net asset
value; provided, however, that ICCC shall accept
Xxxxxxx'x offer to minimize or eliminate any
resulting monetary damages by employing such
alternatives as reasonably necessary, which
alternative shall be done at the reasonable expense
of Xxxxxxx.
iii. The failure of Xxxxxxx to materially comply with
applicable law in connection with the performance of
its duties hereunder.
C. For purposes of this indemnification provision, the Indemnitor
shall assume indemnity obligations and the Indemnitee shall be
the beneficiary of the indemnification provision. Indemnitor
shall not be liable under this indemnification provision with
respect to any claim made against Indemnitee unless Indemnitee
shall have notified Indemnitor in writing within a reasonable
time after the summons or other first legal process giving
information as to the nature of the claim shall have been
served upon Indemnitee (or after Indemnitee shall have
received notice of such service on any designated agent), but
failure to notify Indemnitor of any such claim shall not
relieve Indemnitor from any liability which it may have to
Indemnitee against whom such action is brought otherwise than
on account of this indemnification provision. In case any such
action is brought against Indemnitee, Indemnitor shall be
entitled to participate at its own expense in the defense of
such action. Indemnitor also shall be entitled to assume the
defense thereof, with counsel satisfactory to the party named
in the action.
D. In no event shall Xxxxxxx or ICCC be liable for consequential,
special or punitive damages.
8. Notices. All notices and consents required or given hereunder shall
be in writing and shall be deemed to have been duly given when (i)
delivered to the proper party by hand, or (ii) delivered to the proper
party by certified mail, return receipt requested, or by a commercial
courier, or (iii) sent to the proper party by telecopier, facsimile or
similar electronic means if (x) on the same day a copy also is sent by
certified mail, return receipt requested, or is sent for overnight
delivery by commercial courier, addressed to the proper party at its
address below (or a changed address specified by it in a notice to the
other party) and marked to the
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attention of the officer names below and (y) such communication by
telecopier, facsimile or similar electronic means is addressed to the
telecopier or facsimile number provided by the other party. Each party
shall keep the other party advised of the appropriate telecopier or
facsimile number for receiving telecopier or facsimile notices
hereunder and each party shall respond promptly by telecopier facsimile
or similar electronic means to any request of the other party for
confirmation of receipt of a notice sent by any means described above.
The addresses of the parties, the names and titles of the relationship
managers to whose attention notices are to marked, and the facsimile
and telephone numbers for such notices for each party are as follows:
If to ICCC:
Investment Company Capital Corporation
Xxx Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Attn: Xxxxxxx X. Xxxx
Phone (000) 000-0000
Fax (000) 000-0000
If to Xxxxxxx:
Xxxxxxx Fund Accounting Corporation
000 Xxxx Xxxxxx
XXX00-0000
Xxx Xxxx, XX00000-0000
Attn: Xxxxxxx Xxxxxxxx
Phone (000) 000-0000
Fax (000) 000-0000
9. Confidential Information.
------------------------
A. Each party shall preserve the confidentiality of the other
party's information, whether in written, oral, graphic,
electronic or physical form, including client information,
financial and proprietary information, business plans,
techniques, formulae, products, software, and information or
materials relevant to the business of the other party, and in
the case of ICCC, of each Fund ("Confidential Information").
Confidential Information also shall include the tapes, books,
reference manuals, instructions, records, programs,
documentation and information of, and other materials relevant
to, the Portfolio Accounting System.
B. Neither party shall voluntarily disclose such Confidential
Information to any other person other than its own employees
or agents who reasonably have a need to know such information
pursuant to this Agreement, provided a party may disclose
Confidential Information in response to a court order,
governmental action, or as otherwise required by law, but only
if the other party has been given notice and an opportunity to
appear and object to such disclosure. Each party shall return
all such Confidential Information to the other party upon
termination or expiration of this Agreement.
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C. For purposes of this Agreement, Confidential Information shall
not include: (a) information that is made or becomes available
to the public without breach of this Agreement; (b)
information that the other party agrees in writing can be
disclosed by the first party to a third party without
restriction; or (c) information disclosed to a party by a
third party, in which case such party shall owe to the other
party duties of non-disclosure no more stringent than those,
if any, owed to the third party from whom the information was
received.
10. Force Majeure. Neither ICCC nor Xxxxxxx shall be responsible or liable
for its failure or delay in performance of its obligations under this
Agreement arising out of or caused, directly or indirectly, by
circumstances beyond its reasonable control, including, without
limitation: any interruption, loss or malfunction of any utility,
transportation, computer (hardware or software) or communication
service; inability to obtain labor, material, equipment or
transportation, or a delay in mails; government or exchange action,
statute, ordinance, rulings, regulations or direction; war, strike,
riot, emergency, civil disturbance, terrorism, vandalism, explosions,
labor disputes, freezes, floods, fires, tornadoes, acts of God or
public enemy, revolutions, or insurrection.
11. Procedures. Xxxxxxx and ICCC may from time to time adopt procedures
as they agree upon, and Xxxxxxx may conclusively assume that any
procedure approved in writing or directed by ICCC or any of the Funds'
accountants or other advisors does not conflict with or violate any
requirements of any Funds' prospectus, charter or articles of
incorporation, bylaws, any applicable law, rule or regulation, or any
order, decree or agreement by which any Fund may be bound.
12. Term and Termination. The initial term of this Agreement shall be a
period of one year commencing on the effective date hereof. This
Agreement shall continue thereafter until terminated by either party
by notice in writing received by the other party not less than ninety
(90) days prior to the date upon which such termination shall take
effect. Sections 2, 3, 6, 8 and this Section 11 shall survive
termination of this Agreement. Upon termination of this Agreement,
ICCC shall pay to Xxxxxxx its fees and compensation due hereunder.
ICCC shall designate a successor by notice in writing to Xxxxxxx on or
before the termination date. Xxxxxxx shall deliver to the designated
successor, or if none has been designated, to ICCC, at Xxxxxxx'x
office, all records, funds and other properties of all of the Funds
deposited with or held by Xxxxxxx hereunder. In the event that
neither a successor nor ICCC takes delivery of all records, funds and
other properties of the Funds by the termination date, Xxxxxxx'x sole
obligation with respect thereto from the termination date until
delivery to a successor or ICCC shall be to exercise reasonable care
to hold the same in custody in its form and condition as of the
termination date, and Xxxxxxx shall be entitled to reasonable
compensation therefor, including but not limited to all of its
out-of-pocket costs and expenses incurred in connection therewith.
13. Miscellaneous.
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A. This Agreement shall be construed according to, and the rights
and liabilities of the parties hereto shall be governed by,
the laws of the State of New York, without reference to the
choice of law principles.
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B. All terms and provisions of this Agreement shall be binding
upon, inure to the benefit of and be enforceable by the
parties hereto and their respective successors and permitted
assigns.
C. No provisions of the Agreement may be amended or modified in
any manner except by a written agreement properly authorized
and executed by each party hereto.
D. The failure of either party to insist upon the performance of
any terms or conditions of this Agreement or to enforce any
rights resulting from any breach of any of the terms or
conditions of this Agreement, including the payment of
damages, shall not be construed as a continuing or permanent
waiver of any such terms, conditions, rights or privileges,
but the same shall continue and remain in full force and
effect as if no such forbearance or waiver had occurred.
E. The captions in this Agreement are included for convenience of
reference only, and in no way define or limit any of the
provisions hereof or otherwise affect their construction or
effect.
F. This Agreement may be executed in two or more separate
counterparts, each of which shall be deemed an original but
all of which together shall constitute one and the same
instrument.
G. If any provision of this Agreement shall be determined to be
invalid or unenforceable, the remaining provisions of this
Agreement shall not be affected thereby, and every provision
of this Agreement shall remain in full force and effect and
shall remain enforceable to the fullest extent permitted by
applicable law.
H. This Agreement may not be assigned by either party hereto
without the prior written consent of the other.
I. Neither the execution nor performance of this Agreement shall
be deemed to create a partnership or joint venture by and
between ICCC and Xxxxxxx.
J. Except as specifically provided herein, this Agreement does
not in any way affect any other agreements entered into among
the parties hereto and any actions taken or omitted by any
party.
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IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their respective and duly authorized officers, to be effective as
of the day and year first above written.
Investment Company Capital Corporation
/s/Xxxxxxx X. Xxxx
--------------------------------------
By: Xxxxxxx X. Xxxx
Title: President
Xxxxxxx Fund Accounting Corporation
/s/Xxxxxx Xxxxxx
--------------------------------------
By: Xxxxxx Xxxxxx
Title: President
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EXHIBIT A
BT INVESTMENT FUNDS BT INVESTMENT PORTFOLIOS
Cash Management Fund Investment Liquid Assets Portfolio
Tax Free Money Fund Investment Asset Management II Portfolio
NY Tax Free Money Fund Investment Asset Management III Portfolio
Treasury Money Fund Investment Small Cap Portfolio
International Equity Fund--Class A, B and C U.S. Bond Index Portfolio
International Equity Fund--Investment Class EAFE(R)Equity Index Portfolio
Mid Cap Fund--Investment Class PreservationPlus Portfolio
Mid Cap Fund--Institutional Class PreservationPlus Income Portfolio
Lifecycle Long Range--Investment Class Quantitative Equity Portfolio
Lifecycle Mid Range--Investment Class
Lifecycle Short Range--Investment Class XXXXXX XXXXXXXX INVESTMENT TRUST
Small Cap--Investment Class International Select Equity Fund
Quantitative Equity--Investment Class European Equity Fund
Quantitative Equity--Institutional Class Emerging Markets Equity Fund
PreservationPlus Income Emerging Markets Debt Fund
Global Equity Fund--Institutional Class Fixed Income Fund
Global Equity Fund--Class A, B and C Municipal Bond Fund
Short-Term Fixed Income Fund
BT ADVISOR FUNDS Short-Term Municipal Bond Fund
EAFE Equity Index--Premier Class High Yield Bond Fund
U.S. Bond Index--Premier Class Micro Cap Fund
Total Return Bond Fund
BT PYRAMID MUTUAL FUNDS
Money Market Investment Deutsche Bank Alex. Xxxxx Cash Reserve Fund, Inc.
Equity 500 Index Investment Prime Series
Asset Management--Premier Class Treasury Series
PreservationPlus--Investment Class Tax-Free Series
PreservationPlus--Institutional Class
PreservationPlus--Inst. Service Class Flag Investors Communications Fund, Inc.
BT INSTITUTIONAL FUNDS Emerging Growth Fund, Inc.
Cash Management Institutional
Cash Reserves Institutional Short-Intermediate Income Fund, Inc.
Treasury Money Institutional
International Equity Fund Institutional Class I Flag Investors Value Builder Fund, Inc.
International Equity Fund Institutional Class II
Equity 500 Index Premier Real Estate Securities Fund, Inc.
Liquid Assets Fund Institutional
Daily Assets Fund Institutional Flag Investors Equity Partners Fund, Inc.
Treasury Assets Fund Institutional
Deutsche Investors Funds, Inc.
Global Biotechnology Fund
Xxxxxxx RREEF Real Estate Securities Fund Growth Opportunity Fund
Xxxxxxx RREEF Real Estate Fund, Inc.
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EXHIBIT B
Administrative Agreement between BT Investment Funds and Investment Company
Capital Corporation dated July 1, 2001.
Administrative Agreement between BT Investment Portfolios and Investment Company
Capital Corporation dated July 1, 2001.
Administrative Agreement between BT Advisor Funds and Investment Company Capital
Corporation dated July 1, 2001.
Administrative Agreement between Asset Management Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
Administrative Agreement between International Equity Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
Administrative Agreement between Cash Management Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
Administrative Agreement between Treasury Money Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
Administrative Agreement between BT Pyramid Mutual Funds and Investment Company
Capital Corporation dated July 1, 2001.
Administrative Agreement between BT Institutional Funds and Investment Company
Capital Corporation dated July 1, 2001.
Administrative Agreement between Equity 500 Index Portfolio and Investment
Company Capital Corporation dated July 1, 2001.
Accounting Services Agreement among Investment Company Capital Corporation,
Xxxxxx Xxxxxxxx Investment Trust, and Deutsche Asset Management, Inc., dated as
of September 1, 2000.
Accounting Services Agreement among Investment Company Capital Corporation and
Deutsche Asset Management, Inc., dated as of July 17, 2001, on behalf of The
SMALLCap Fund, Inc.(TM)
Accounting Service Appendix to the Master Services Agreement between the Flag
Investors, on behalf of each of the Funds and Investment Company Capital
Corporation, dated as of September 1, 2000.
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EXHIBIT C
To be agreed upon by the parties.
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EXHIBIT D
On a daily basis, Xxxxxxx shall provide the following accounting functions with
respect to the Fund:
1. Journalize each Fund's investment, capital share and income and expense
activities;
2. Validate investment buy/sell trade tickets when received from each Fund's
investment advisor;
3. Maintain individual ledgers for investment securities;
4. Maintain historical tax lots in accordance with the specific identification
method for each security;
5. Reconcile cash and investment balances with the custodian for required
Funds as applicable, and provide each Fund's investment advisor with the
beginning cash balance available for investment purposes;
6. Update the cash availability throughout the day for required Funds as
applicable and as required by each Fund's investment advisor;
7. Post to and prepare each Fund's Statement of Net Assets and Liabilities and
the Statement of Operations on a monthly basis;
8. Calculate various contractual expenses (e.g., advisor and custody fees);
9. Monitor the expense accruals and notify ICCC and each Fund's management of
any proposed adjustments;
10. Calculate book capital gains and losses allocated to each Fund;
11. Determine each Fund's net income and calculate and distribute daily
dividend rates for daily distributed funds income;
12. Obtain security market quotes from independent pricing services approved by
the Fund's investment advisor or if such quotes are unavailable, or if such
prices are unavailable, then follow Board approved valuation procedures in
order to calculate the market value of the Fund's investment, and in either
case calculate the market value of portfolio investments;
13. Transmit or mail a copy of the portfolio valuations to each Fund's
investment advisor/sub-advisor when requested;
14. Compute the net asset of each Fund;
15. Compute the yields;
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16. Assist in preparation of Annual and Semi-Annual Reports on Form N-SAR;
17. Provide data needed for monitoring compliance with Sub-Chapter M of the
Internal Revenue Code;
18. Keep the following records: (a) all books and records with respect to each
Fund's books of account; and (b) records of each Fund's securities
transactions;
19. Act as liaison with each Fund's independent accounts and provide account
analyses, fiscal year summaries and other audit related schedules;
20. Post to and prepare each Fund's general ledger;
21. Supply readily available Fund statistical data to the Fund as requested on
an ongoing basis;
22. Provide Fund information necessary for the Fund tax group to determine the
amount of dividends and other distributions payable to shareholders as
necessary to, among other things, maintain the qualification as a regulated
investment company of the Fund under the Code;
23. Assist as needed in the preparation of the quarterly compliance memorandum;
24. Assist as needed in Fund events such as liquidations, redemptions, in-kind,
mergers, etc. Provide necessary operational support to effect the
transactions;
25. Provide accounting services as defined in our contractual agreements with
our private label clients;
26. Reconcile general ledger accounts with Invest One system records and
external parties such as Transfer Agent and Advisor (management fees,
administration fees and waivers); and
27. Provide assistance for required Funds in the monitoring of overdrafts in DB
custody accounts in compliance with Federal Reserve (23A) policies and
procedures.
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