EXPENSE LIMITATION AGREEMENT
EXPENSE LIMITATION AGREEMENT made as of the 1st day of August 2015 by and between RidgeWorth Funds (the “Trust”), a Massachusetts business trust, RidgeWorth Capital Management LLC (the “Adviser”) and each investment subadviser listed on Schedule B (“Sub-Adviser”) with respect to the series of the Trust (the “Funds”) set forth on Schedule A.
The Adviser and each Sub-Adviser hereby agree to waive their fees, in the proportion set forth in the applicable subadvisory agreement relating to each Fund, and reimburse expenses to the extent necessary to limit total operating expenses, based on a percentage of the average daily net assets of each Fund (excluding interest, taxes, brokerage commissions, substitute dividend expenses on securities sold short, extraordinary expenses, estimated indirect expenses attributable to investments in other investment companies, and other expenses not incurred in the ordinary course of business) for each share class of the Funds as set forth on Schedule A until August 1, 2016.
If at any point before August 1, 2018, it becomes unnecessary for the Adviser or Sub-Adviser to waive fees and make reimbursements for a particular Fund, the Adviser and the Sub-Adviser may retain the difference between the Total Annual Fund Operating Expenses of that Fund and the applicable expense cap set forth on Schedule A to recapture any of its prior waivers or reimbursements.
This Agreement shall terminate with respect to a Fund, without payment of any penalty, upon: (1) termination of the applicable Investment Advisory Agreement with the Adviser or (2) written notice to the Adviser by the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Expense Limitation Agreement to be executed as of the day and year first written above.
RIDGEWORTH FUNDS | RIDGEWORTH CAPITAL MANAGEMENT LLC | |||||||
By: | /s/ Xxxxx X. Short |
By: | /s/ Xxxx Xxxxxxxx | |||||
Name: | Xxxxx X. Short | Name: | Xxxx Xxxxxxxx | |||||
Title: | President and CEO | Title: | Managing Director and CFO |
Pursuant to each of the Funds listed in Schedule B for which they are the respective Subadviser:
CERTIUM ASSET MANAGEMENT LLC
By: | /s/ Ashi Xxxxxx | |
Name: | Ashi Xxxxxx | |
Title: | CEO | |
CEREDEX VALUE ADVISORS LLC | ||
By: | /s/ Ashi Xxxxxx | |
Name: | Ashi Xxxxxx | |
Title: | CEO |
SEIX INVESTMENT ADVISORS LLC
By: | /s/ Xxx Xxxxxx | |
Name: | Xxx Xxxxxx | |
Title: | CIO | |
SILVANT CAPITAL MANAGEMENT LLC | ||
By: | /s/ Ashi Xxxxxx | |
Name: | Ashi Xxxxxx | |
Title: | CEO |
XXXXXXXXXXX CAPITAL INVESTMENTS LLC
By: | /s/ Xxxxxx Xxxxx | |
Name: | Xxxxxx Xxxxx | |
Title: | Managing Director |
SCHEDULE A
FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||||
Allocation Strategies |
||||||
Aggressive Growth Allocation Strategy | I | 0.50 | % | |||
Aggressive Growth Allocation Strategy | A | 0.70 | % | |||
Aggressive Growth Allocation Strategy | C | 1.30 | % | |||
Conservative Allocation Strategy | I | 0.30 | % | |||
Conservative Allocation Strategy | A | 0.60 | % | |||
Conservative Allocation Strategy | C | 1.30 | % | |||
Growth Allocation Strategy | I | 0.50 | % | |||
Growth Allocation Strategy | A | 0.70 | % | |||
Growth Allocation Strategy | C | 1.30 | % | |||
Moderate Allocation Strategy | I | 0.50 | % | |||
Moderate Allocation Strategy | A | 0.70 | % | |||
Moderate Allocation Strategy | C | 1.30 | % | |||
Equity Funds |
||||||
Large Cap Value Equity Fund | IS | 0.85 | % | |||
Large Cap Value Equity Fund | I | 0.97 | % | |||
Large Cap Value Equity Fund | A | 1.27 | % | |||
Large Cap Value Equity Fund | C | 1.97 | % | |||
Mid-Cap Value Equity Fund | IS | 0.95 | % | |||
Mid-Cap Value Equity Fund | I | 1.15 | % | |||
Mid-Cap Value Equity Fund | A | 1.40 | % | |||
Mid-Cap Value Equity Fund | C | 1.95 | % | |||
Small Cap Value Equity Fund | I | 1.30 | % | |||
Small Cap Value Equity Fund | A | 1.55 | % | |||
Small Cap Value Equity Fund | C | 2.15 | % | |||
International Equity Fund | I | 1.37 | % | |||
International Equity Fund | A | 1.57 | % |
FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||||
Large Cap Growth Stock Fund | IS | 0.90 | % | |||
Large Cap Growth Stock Fund | I | 0.97 | % | |||
Large Cap Growth Stock Fund | A | 1.25 | % | |||
Large Cap Growth Stock Fund | C | 1.95 | % | |||
Small Cap Growth Stock Fund | IS | 1.05 | % | |||
Small Cap Growth Stock Fund | I | 1.30 | % | |||
Small Cap Growth Stock Fund | A | 1.50 | % | |||
Small Cap Growth Stock Fund | C | 2.20 | % | |||
Aggressive Growth Stock Fund | I | 1.30 | % | |||
Aggressive Growth Stock Fund | A | 1.50 | % | |||
Fixed Income Funds |
||||||
Seix Core Bond Fund | IS | 0.40 | % | |||
Seix Core Bond Fund | I | 0.50 | % | |||
Seix Core Bond Fund | A | 0.75 | % | |||
Seix Core Bond Fund | R | 1.05 | % | |||
Seix Corporate Bond Fund | I | 0.70 | % | |||
Seix Corporate Bond Fund | A | 0.95 | % | |||
Seix Corporate Bond Fund | C | 1.65 | % | |||
Seix Limited Duration Fund | I | 0.35 | % | |||
Seix U.S. Mortgage Fund | I | 0.70 | % | |||
Seix U.S. Mortgage Fund | A | 0.90 | % | |||
Seix U.S. Mortgage Fund | C | 1.65 | % | |||
Seix Total Return Bond Fund | IS | 0.40 | % | |||
Seix Total Return Bond Fund | I | 0.50 | % | |||
Seix Total Return Bond Fund | A | 0.75 | % | |||
Seix Total Return Bond Fund | R | 1.10 | % |
FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||||
Seix High Income Fund |
IS | 0.70 | % | |||
Seix High Income Fund |
I | 0.80 | % | |||
Seix High Income Fund |
A | 1.05 | % | |||
Seix High Income Fund |
R | 1.50 | % | |||
Seix Floating Rate High Income Fund |
IS | 0.60 | % | |||
Seix Floating Rate High Income Fund |
I | 0.70 | % | |||
Seix Floating Rate High Income Fund |
A | 1.00 | % | |||
Seix Floating Rate High Income Fund |
C | 1.60 | % | |||
Seix High Yield Fund |
I | 0.65 | % | |||
Seix High Yield Fund |
A | 0.90 | % | |||
Seix High Yield Fund |
R | 1.30 | % | |||
Seix Georgia Tax-Exempt Bond Fund |
I | 0.65 | % | |||
Seix Georgia Tax-Exempt Bond Fund |
A | 0.80 | % | |||
Seix High Grade Municipal Bond Fund |
I | 0.65 | % | |||
Seix High Grade Municipal Bond Fund |
A | 0.80 | % | |||
Seix Investment Grade Tax-Exempt Bond Fund |
I | 0.65 | % | |||
Seix Investment Grade Tax-Exempt Bond Fund |
A | 0.80 | % | |||
Seix Short-Term Municipal Bond Fund |
I | 0.48 | % | |||
Seix Short-Term Municipal Bond Fund |
A | 0.68 | % | |||
Seix North Carolina Tax-Exempt Bond Fund |
I | 0.65 | % | |||
Seix North Carolina Tax-Exempt Bond Fund |
A | 0.80 | % | |||
Seix Virginia Intermediate Municipal Bond Fund |
I | 0.65 | % | |||
Seix Virginia Intermediate Municipal Bond Fund |
A | 0.80 | % | |||
Seix Short-Term Bond Fund |
I | 0.60 | % | |||
Seix Short-Term Bond Fund |
A | 0.80 | % | |||
Seix Short-Term Bond Fund |
C | 1.60 | % | |||
Seix Ultra-Short Bond Fund |
I | 0.46 | % | |||
Seix U.S. Government Securities Ultra-Short Bond Fund |
I | 0.46 | % |
SCHEDULE B
FUND NAME ADVISER/SUBADVISER
Allocation Strategies |
ADVISER | |
Aggressive Growth Allocation Strategy Conservative Allocation Strategy Growth Allocation Strategy Moderate Allocation Strategy |
RidgeWorth Capital Management LLC RidgeWorth Capital Management LLC RidgeWorth Capital Management LLC RidgeWorth Capital Management LLC | |
Equity Funds |
SUBADVISER | |
Large Cap Value Equity Fund Mid-Cap Value Equity Fund Small Cap Value Equity Fund Large Cap Growth Stock Fund Small Cap Growth Stock Fund Aggressive Growth Stock Fund International Equity Fund |
Ceredex Value Advisors LLC Ceredex Value Advisors LLC Ceredex Value Advisors LLC Silvant Capital Management LLC Silvant Capital Management LLC Xxxxxxxxxxx Capital Investments LLC Certium Asset Management LLC |
Fixed Income Funds |
SUBADVISER | |
Seix Core Bond Fund Seix Corporate Bond Fund Seix High Income Fund Seix Limited Duration Fund Seix U.S. Mortgage Fund Seix Floating Rate High Income Fund Seix High Yield Fund Seix Total Return Bond Fund Seix Georgia Tax-Exempt Bond Fund Seix High Grade Municipal Bond Fund Seix Investment Grade Tax-Exempt Bond Fund Seix North Carolina Tax-Exempt Bond Fund Seix Short-Term Bond Fund Seix Short-Term Municipal Bond Fund Seix Ultra-Short Bond Fund Seix U.S. Government Securities Ultra-Short Bond Fund Seix Virginia Intermediate Municipal Bond Fund |
Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC |