AMENDMENT #5 TO THE INVESTMENT MANAGEMENT AGREEEMENT BETWEEN MIRAE ASSET DISCOVERY FUNDS AND MIRAE ASSET GLOBAL INVESTMENTS (USA) LLC
Exhibit (d)(5)
AMENDMENT #5 TO THE
INVESTMENT MANAGEMENT AGREEEMENT
BETWEEN
AND
MIRAE ASSET GLOBAL INVESTMENTS (USA) LLC
THIS AMENDMENT #5 is entered into as of June 20, 2016, by and among MIRAE ASSET DISCOVERY FUNDS (the “Funds”), a Delaware statutory trust and MIRAE ASSET GLOBAL INVESTMENTS (USA) LLC (the “Investment Manager”), a Delaware limited liability company having its main office at 0000 Xxxxxx xx xxx Xxxxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000.
RECITALS
WHEREAS, the parties previously entered into an Investment Management Agreement dated July 9, 2010 (the “Agreement”), which generally provides that Investment Manager shall furnish investment advisory services to each separate series of the Trust set forth in Exhibit A of the Agreement (each a “Fund” and collectively the “Funds”); and
WHEREAS, the parties amended the Agreement as of April 5, 2011, December 19, 2011, June 18, 2012 and September 22, 2015; and
WHEREAS, Investment Manager now desires to amend Exhibit A to the Agreement to delete the monthly fee that the Investment Manager receives for all services rendered with respect to Global Great Consumer Fund (the “Fund”) and replace it with a new monthly fee and in accordance with Section 8 of the Agreement; and
WHEREAS, this Amendment has been approved in accordance with the provisions of the Investment Company Act of 1940, and the Investment Manager is willing to furnish such services upon the terms and conditions of the Agreement and herein set forth; and
WHEREAS, Funds and Investment Manager otherwise wish to retain all terms and provisions in the Agreement and to continue to exercise their rights and fulfill their duties thereunder.
NOW THEREFORE, in consideration of the mutual covenants contained herein and other valuable consideration, and intending to be legally bound, the parties agree as follows:
1.
Exhibit A will be amended to reflect the new sub-management fee for the Fund by deleting the sub-management fee for the Fund from the existing Exhibit A and replacing it with:
Name of Fund | Investment Management Fee |
Global Great Consumer Fund | 0.90% |
IN WITNESS WHEREOF, the Parties hereto cause this instrument to be executed as of the date above first written.
| MIRAE ASSET GLOBAL INVESTMENTS (USA) LLC | |||
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By: | /s/ Xxxxxx Xxxx |
| By: | /s/ Xxxxx Xxxxxx |
Print Name: | Xxxxxx Xxxx |
| Print Name: | Xxxxx Xxxxxx |
Title: | Secretary |
| Title: | Chief Executive Officer |