December __, 2022 Payden & Rygel
December __, 2022
Xxxxxx & Rygel
000 Xxxxx Xxxxx Xxxxxx, 00xx Floor
Los Angeles, California 90071
Ladies and Gentlemen:
We wish to retain Xxxxxx & Rygel to act as investment adviser to our Payden Managed Income Fund series. Accordingly, this will confirm our agreement to amend Exhibit A to the Investment Management Agreement between us, dated January 22, 1992, as heretofore amended, by adding the following paragraph with respect to the above-referenced series:
Xxxxxx Managed Income Fund
Annual Advisory Fee (as a percentage of average daily net assets) – 1.10%.
Annual Operating Expense Limitation (as a percentage of average daily net assets), excluding 12b-1 Distribution Fees, Acquired Fund Fees and Expenses, interest, taxes and extraordinary expenses –
SI Class Shares – 1.25%
Institutional Class Shares – 1.25%
Retirement Class Shares – 1.25%
Adviser Class Shares – 1.25%
In all other respects, the Investment Management Agreement between us, as heretofore amended, will remain unchanged. Please sign this letter below to confirm your agreement to this amendment.
Very truly yours, | ||||||||
THE XXXXXX AND RYGEL INVESTMENT GROUP |
XXXXXX & RYGEL | |||||||
By: |
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By: |
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Name: Xxxxxx X. Xxxxxxx | Name: Xxxxxxx X. Xxxxx | |||||||
Title: Secretary | Title: Director |