In connection with that certain Investment Advisory Agreement dated April 17, 2019 (“Agreement”) by and between CLS Investments, LLC (the “Adviser”) and the CLS Strategic Global Equity Fund (the “Fund”), CLS has contractually agreed to waive a portion...
April 17, 2019
AdvisorOne Funds Board of Trustees
c/o Xxxx Xxxxxx, Secretary of the Board
00000 Xxxxxx Xxxxxx
Omaha, NE 68130
Re: Advisory Fee Waivers
Dear Xx. Xxxxxx:
In connection with that certain Investment Advisory Agreement dated April 17, 2019 (“Agreement”) by and between CLS Investments, LLC (the “Adviser”) and the CLS Strategic Global Equity Fund (the “Fund”), CLS has contractually agreed to waive a portion of its advisory fees for the benefit of the Fund, and to contractually bind itself, to waive or limit its management fees and to reimburse expenses, other than expenses relating to dividends on short sales, interest expense, indirect fees and expenses of underlying funds, and extraordinary or non-recurring expenses, through April 30, 2020 so that the annual operating expenses of the Fund do not exceed 1.50% of average daily net assets of the Fund.
This limitation is subject to possible reimbursement by the Fund for a period of three years on a rolling three year basis, if such reimbursement can be achieved within the foregoing expense limits.
We look forward to providing continuing service to the AdvisorOne Funds.
Sincerely,
/s/ Xxxx Xxxxx
Xxxx Beach
Secretary
CLS Investments, LLC
Approved and accepted on behalf of the Fund
/s/ Xxxx Xxxxxx
Xxxx Xxxxxx
Secretary
