Aspen Partners, Ltd. 4200 Northside Parkway Building 11, Suite 200 Atlanta, Georgia 30327 Phone: (404) 879-5126 Fax: (404) 879-5128 www.aspenpartners.com
Exhibit (h)(59)
|
Aspen Partners, Ltd.
0000 Xxxxxxxxx Xxxxxxx Xxxxxxxx 00, Xxxxx 000 Xxxxxxx, Xxxxxxx 00000
Phone: (000) 000-0000 Fax: (000) 000-0000
xxx.xxxxxxxxxxxxx.xxx |
June 12, 2012
Xx. Xxxxxx X. Xxxxx
Chairman
0000 Xxxxxxxx, Xxxxx 0000
Denver, CO 80203
| Re: | Aspen Managed Futures Strategy Fund (the “Fund”), a Series of Financial Investors Trust |
Dear Xx. Xxxxx:
This letter confirms the agreement between Aspen Partners, Ltd. (the “Adviser”) and Financial Investors Trust to contractually limit the total amount of the Management Fees and Other Expenses (as such terms are defined in Item 3 of Form N-1A) that it is entitled to receive from the Fund.
With respect to the Fund’s Class A and Class I shares, to the extent the Total Annual Fund Operating Expenses (as defined in Item 3 to Form N-1A), after such fee waiver and/or expense reimbursement (exclusive of distribution and/or service (12b-1) fees, shareholder service fees, acquired fund fees and expenses, brokerage expenses, interest expenses, taxes and extraordinary expenses) does not exceed 1.55% of the average daily net assets for each of Class A and Class I shares of the Fund for a particular month, annualized, of the Fund, the Adviser will reduce the Management Fees and/or Other Expenses otherwise payable to the Adviser with respect to the Fund for such month, annualized, by an amount equal to such excess, and/or the Adviser shall reimburse the Fund (or class as applicable) by the amount of such excess. The waiver or reimbursement shall be allocated to each class of the Fund in the same manner as the underlying expenses or fees were allocated.
The Adviser agrees that the above fee waiver and reimbursement agreement for the Fund are effective as of September 1, 2012 and shall continue through August 31, 2013.
The Adviser will be permitted to recover, on a class-by-class basis, expenses it has borne through this letter agreement to the extent that the Fund’s expenses in later periods fall below the annual rates set forth in this letter agreement. Notwithstanding the foregoing, the Fund will not be
obligated to pay any such deferred fees and expenses more than three years after the end of the fiscal year in which the fees and expenses were deferred.
| ASPEN PARTNERS, LTD. | ||
| By: |
/s/ Xxxx Xxxxxxx | |
| Name: |
Xxxx Xxxxxxx | |
| Title: |
Chief Compliance Officer | |
Your signature below acknowledges acceptance of this letter agreement:
| By: |
/s/ Xxxxxx X. Xxx | |
| Name: |
Xxxxxx X. Xxx | |
| Title: |
Treasurer | |
