Exhibit (a)(14)
CONSULTING GROUP CAPITAL MARKETS FUNDS
AMENDMENT NO. 13
TO
MASTER TRUST AGREEMENT
AMENDMENT NO. 13 (the "Amendment") to the Master Trust Agreement dated
April 12, 1991 (the "Agreement") of Consulting Group Capital Markets Funds (the
"Trust"), made as of the 29th day of August, 2003.
WITNESSETH:
WHEREAS, Article VII, Section 7.3 of the Agreement provides that the
Agreement may be amended at any time, so long as such amendment does not
adversely affect the rights of any shareholder and so long as such amendment is
not in contravention of applicable law, including the Investment Company Act of
1940, as amended, (the "1940 Act") by an instrument in writing signed by an
officer of the Trust pursuant to a vote of a majority of the Trustees; and
WHEREAS, the Trustees have the authority under Article IV, Section 4.2(d)
of the Agreement to authorize the liquidation of any particular Sub-Trust (as
defined in the Agreement) of the Trust, subject to the approval of a majority of
the outstanding voting Shares, as defined in the Agreement, of that Sub-Trust,
as defined in the 1940 Act; and
WHEREAS, on June 4, 2003, at a regular meeting of the Board of Trustees,
the Trustees voted to authorize the liquidation of Balanced Investments (the
"Fund"), a Sub-Trust of the Trust; and effective upon such liquidation, to
abolish the Fund in accordance with Section 4.1 of the Agreement; and
WHEREAS, on August 14, 2003, a majority of shareholders of the Fund voted
to approve the liquidation and abolishment of the Fund; and
WHEREAS, on August 29, 2003, the Fund was liquidated; and
WHEREAS, the undersigned has been duly authorized by the Trustees to
execute and file this Amendment No. 13 to the Agreement; and
NOW, THEREFORE, the Agreement is hereby amended as follows:
1. The first paragraph of Article IV, Section 4.2 of the Agreement is
hereby amended to read in pertinent part as follows:
"Section 4.2 Establishment and Designation of Sub-Trusts. Without limiting
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the authority of the Trustees set forth in Section 4.1 to establish and
designate any further Sub-Trusts, the Trustees hereby establish and designate
the following Sub-Trusts: Emerging Markets Equity Investments, Government Money
Investments, High Yield
Investments, Intermediate Fixed Income Investments, International Equity
Investments, International Fixed Income Investments, Large Capitalization Growth
Investments, Large Capitalization Value Equity Investments, Long-Term Bond
Investments, Mortgage Backed Investments, Municipal Bond Investments, Small
Capitalization Growth Investments, Small Capitalization Value Equity
Investments, Multi-Strategy Market Neutral Investments and Multi-Sector Fixed
Income Investments. The shares of such Sub-Trusts and any shares of any further
Sub-Trusts that may from time to time be established and designated by the
Trustees shall (unless the Trustees otherwise determine with respect to some
further Sub-Trust at the time of establishing and designating the same) have the
following relative rights and preferences."
The undersigned hereby certifies that the Amendment set forth above has
been duly adopted in accordance with the provisions of the Agreement.
IN WITNESS WHEREOF, the undersigned has hereto set her hand as of the day
and year first above written.
CONSULTING GROUP CAPITAL MARKETS FUNDS
By:___________________________________________
Name: Xxxxxxx X. Xxxxx
Title: Assistant Secretary
