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EXHIBIT 99(a.21)
THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 20 TO
MASTER TRUST AGREEMENT
This Amendment No. 20 to the Master Trust Agreement of The Xxxxxx &
Rygel Investment Group, dated January 22, 1992, as amended (the "Agreement"), is
made as of June 17, 1999.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated twenty-one sub-trusts known as the Xxxxxx & Rygel
Limited Maturity Fund, Xxxxxx & Rygel Short Bond Fund, Xxxxxx & Rygel U.S.
Government Fund, Xxxxxx & Rygel Investment Quality Bond Fund, Xxxxxx & Rygel
Total Return Fund, Xxxxxx & Rygel High Income Fund, Bunker Hill Money Market
Fund, Xxxxxx & Rygel Short Duration Tax Exempt Fund, Xxxxxx & Rygel Tax Exempt
Bond Fund, Xxxxxx & Rygel California Municipal Income Fund, Xxxxxx & Rygel
Growth & Income Fund, Xxxxxx & Rygel Market Return Fund, Xxxxxx & Rygel Small
Cap Value Stock Fund, Xxxxxx & Rygel Small Cap Growth Stock Fund, Xxxxxx & Rygel
Global Short Bond Fund, Xxxxxx & Rygel Global Fixed Income Fund, Xxxxxx & Rygel
Emerging Markets Bond Fund, Xxxxxx & Rygel Global Balanced Fund, Xxxxxx & Rygel
European Growth & Income Fund, Xxxxxx & Rygel International Equity Fund and
Xxxxxx & Rygel EuroDirect Fund; and
WHEREAS, the Trustees have the authority, without shareholder
approval, under Section 7.3 of the Agreement, to amend the Agreement in any
manner, so long as such amendment does not adversely affect the rights of any
shareholder and is not in contravention of applicable law; and
WHEREAS, the Trustees hereby desire to establish and designate two
additional sub-trusts, to be known as the Xxxxxx & Rygel U.S. Growth Leaders
Fund and the Xxxxxx & Rygel European Aggressive Growth Fund, and to fix the
rights and preferences of the shares of each such additional sub-trust,
effective June 17, 1999; and
WHEREAS, the Trustees hereby desire to liquidate, and have authorized
the liquidation of, the Xxxxxx & Rygel International Equity Fund, effective June
30, 1999;
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NOW THEREFORE:
Amendment Effective June 17, 1999:
The first paragraph of Section 4.2 of the Agreement is hereby amended
to read in pertinent part as follow:
"Section 4.2 Establishment and Designation of Sub-Trusts.
Without limiting the authority of the Trustee set forth in Section 4.1
to establish and designate any further Sub-Trusts, the Trustees hereby
establish and designate twenty-three Sub-trusts and classes thereof:
Xxxxxx & Rygel Limited Maturity Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; Xxxxxx
& Rygel Short Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel U.S.
Government Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
Investment Quality Bond Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
Total Return Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel High
Income Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; Bunker Hill Money Market Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class D" shares; Xxxxxx & Rygel Short Duration Tax Exempt Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class S" shares; Xxxxxx & Rygel Tax Exempt Bond Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; Xxxxxx & Rygel California Municipal Income Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; Xxxxxx & Rygel Growth & Income Fund, which shall consist of
two classes of shares designated as "Class R" and "Class S" shares;
Xxxxxx & Rygel Market Return Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
Small Cap Value Stock Fund, which shall consist of two classes
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of shares designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
Small Cap Growth Stock Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
U.S. Growth Leaders Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Global
Short Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Global
Fixed Income Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Emerging
Markets Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Global
Balanced Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; Xxxxxx & Rygel European Growth &
Income Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; Xxxxxx & Rygel International Equity
Fund, which shall consist of two classes of shares designated as
"Class R" and "Class S" shares; Xxxxxx & Rygel EuroDirect Fund, which
shall consist of two classes of shares designated as "Class R" and
"Class S" shares; and Xxxxxx & Rygel European Aggressive Growth Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class S" shares. The shares of each Sub-Trust and classes thereof
and any shares of any further Sub-Trusts and classes thereof 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 or class a the time of establishing and designating the
same) have the following relative rights and preferences:".
Amendment Effective June 30, 1999:
The first paragraph of Section 4.2 of the Agreement is hereby amended
to read in pertinent part as follow:
"Section 4.2 Establishment and Designation of Sub-Trusts.
Without limiting the authority of the Trustee set forth in Section 4.1
to establish and designate any further Sub-Trusts, the Trustees hereby
establish and
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designate twenty-two Sub-trusts and classes thereof: Xxxxxx & Rygel
Limited Maturity Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Short
Bond Fund, which shall consist of two classes of shares designated as
"Class R" and "Class S" shares; Xxxxxx & Rygel U.S. Government Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class S" shares; Xxxxxx & Rygel Investment Quality Bond Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class S" shares; Xxxxxx & Rygel Total Return Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; Xxxxxx & Rygel High Income Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; Bunker
Hill Money Market Fund, which shall consist of two classes of shares
designated as "Class R" and "Class D" shares; Xxxxxx & Rygel Short
Duration Tax Exempt Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Tax
Exempt Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
California Municipal Income Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; Xxxxxx & Rygel
Growth & Income Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; Xxxxxx & Rygel Market
Return Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; Xxxxxx & Rygel Small Cap Value
Stock Fund, which shall consist of two classes of shares designated as
"Class R" and "Class S" shares; Xxxxxx & Rygel Small Cap Growth Stock
Fund, which shall consist of two classes of shares designated as
"Class R" and "Class S" shares; Xxxxxx & Rygel U.S. Growth Leaders
Fund, which shall consist of two classes of shares designated as
"Class R" and "Class S" shares; Xxxxxx & Rygel Global Short Bond Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class S" shares; Xxxxxx & Rygel Global Fixed Income Fund, which
shall consist of two classes of shares designated as "Class R" and
"Class S" shares; Xxxxxx & Rygel Emerging Markets Bond Fund, which
shall
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consist of two classes of shares designated as "Class R" and "Class S"
shares; Xxxxxx & Rygel Global Balanced Fund, which shall consist of
two classes of shares designated as "Class R" and "Class S" shares;
Xxxxxx & Rygel European Growth & Income Fund, which shall consist of
two classes of shares designated as "Class R" and "Class S" shares;
Xxxxxx & Rygel EuroDirect Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; and Xxxxxx &
Rygel European Aggressive Growth Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares. The
shares of each Sub-Trust and classes thereof and any shares of any
further Sub-Trusts and classes thereof 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 or class a
the time of establishing and designating the same) have the following
relative rights and preferences:".
The undersigned hereby certify that the Amendment set forth above has
been duly adopted in accordance with the provisions of the Master Trust
Agreement.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands for
themselves and their assigns, as of the day and year first above written. This
instrument may be executed in one or more counterparts, all of which shall
together constitute a single instrument.
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Xxxx X. Xxxxxx X.X. Xxxxxx, Xx.
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Xxxx Xxxx Xxxxxxxx Xxxxxxxxxxx X. Xxxxxxxx
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X. Xxxxxxxx La Force Xxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx Xxxxxx X. XxXxxxxx, Xx.
