INVESTMENT ADVISORY CONTRACT
PIMCO FUNDS
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
May 5, 2000
Pacific Investment Management Company LLC
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
Dear Sirs:
This will confirm the agreement between the undersigned
(the "Trust") and Pacific Investment Management Company LLC (the "Adviser")
as follows:
1. The Trust is an open-end investment company which has separate
investment portfolios, listed on Exhibit A attached hereto and made a
part hereof, as such Exhibit A may be amended from time to time
(the publicly registered funds are collectively defined as the Funds
and each, a Fund; the privately registered portfolios are collectively
defined as the Portfolios and each, a Portfolio), all of which are
subject to this agreement, as supplemented. Additional investment
portfolios may be established in the future. This Contract shall pertain
to the Funds and Portfolios and to such additional investment portfolios
as shall be designated in amendments or Supplements to this Contract,
as further agreed between the Trust and the Adviser. Ten separate classes
of shares of beneficial interest in the Trust may be offered to investors
in each Fund. The Trust engages in the business of investing and
reinvesting the assets of each Fund and Portfolio in the manner and in
accordance with the investment objective and restrictions applicable to
that Fund and Portfolio as specifiedin the currently effective Prospectus
(the "Prospectus") for the Trust included in the registration statements,
as amended from time to time (the "Registration Statement"), filed by the
Trust under the Investment Company Act of 1940 (the "1940 Act") and the
Securities Act of 1933 (the "1933 Act"). Copies of the documents referred
to in the preceding sentence have been furnished to the Adviser. Any
amendments to those documents shall be furnished to the Adviser promptly.
Pursuant to a Distribution Contract, as amended (the "Distribution
Contract"), between the Trust and PIMCO Advisors Distributors LLC (the
"Distributor"), the Funds and Portfolios have employed the Distributor
to serve as principal underwriter for the shares of beneficial interest
of the Trust. Pursuant to an Administration Agreement ("Administration
Agreement") between the Trust and the Adviser, the Trust has also
retained the Adviser to provide the Funds and Portfolios with
administrative and other services.
2. The Trust hereby appoints the Adviser to provide the investment
advisory services specified in this Contract and the Adviser hereby
accepts such appointment.
3. (a) The Adviser shall, at its expense, (i) employ or
associate withitself such persons as it believes appropriate to assist it
in performing its obligations under this Contract and (ii) provide all
services, equipment and facilities necessary to perform its obligations
under this Contract. The Adviser may from time to time seek research
assistance and rely on investment management resources available to it
through its affiliated companies, but in no case shall such reliance
relieve the Adviser of any of its obligations hereunder, nor shall the
Trust be responsible for any additional fees or expenses hereunder
as a result.
(b) The Trust shall be responsible for all of its
expenses and liabilities, including compensation of its Trustees who
are not affiliated with the Adviser, the Distributor or any of their
affiliates; taxes and governmental fees; interest charges; fees and
expenses of the Trusts independent accountants and legal counsel;
trade association membership dues; fees and expenses of any custodian
(including maintenance of books and accounts and calculation of the
net asset value of shares of the Trust), transfer agent, registrar
and dividend disbursing agent of the Trust; expenses of issuing, selling,
redeeming, registering and qualifying for sale shares of beneficial
interest in the Trust; expenses of preparing and printing share
certificates, prospectuses and reports to shareholders, notices, proxy
statements and reports to regulatory agencies; the cost of office
supplies, including stationery; travel expenses of all officers, Trustees
and employees; insurance premiums; brokerage and other expenses of
executing portfolio transactions; expenses of shareholders meetings;
organizational expenses; and extraordinary expenses. Notwithstanding
the foregoing,the Trust may enter into a separate agreement, which shall
be controlling over this contract, as amended, pursuant to which some or
all of the foregoing expenses of this Section 3(b) shall be the
responsibility of the other party or parties to that agreement.
4. (a) The Adviser shall provide to the Trust investment
guidance and policy direction in connection with the management of the
Funds and Portfolios, including oral and written research, analysis,
advice, and statistical and economic data and information.
Consistent with the investment objectives, policies and
restrictions applicable to the Trust and its Funds and Portfolios, the
Adviser will determine the securities and other assets to be purchased or
sold by each Fund or Portfolio of the Trust and will determine what portion
of each Fund or Portfolio shall be invested in securities or other assets,
and what portion, if any, should be held uninvested.
The Trust will have the benefit of the investment analysis
and research, the review of current economic conditions and trends and the
consideration of long-range investment policy generally available to
investment advisory clients of the Adviser. It is understood that the
Adviser will not use any inside information pertinent to investment
decisions undertaken in connection with this Contract that may be in its
possession or in the possession of any of its affiliates, nor will the
Adviser seek to obtain any such information.
(b) The Adviser also shall provide to the officers of
the Trust administrative assistance in connection with the operation of the
Trust, the Funds and Portfolios, which shall include (i) compliance with
all reasonable requests of the Trust for information, including information
required in connection with the Trusts filings with the Securities and
Exchange Commission and state securities commissions, and (ii) such other
services as the Adviser shall from time to time determine to be necessary
or useful to the administration of the Trust, Funds and Portfolios.
(c) As manager of the assets of the Funds and
Portfolios, the Adviser shall make investments for the account of the Funds
and Portfolios in accordance with the Advisers best judgment and within
the investment objectives, policies, and restrictions set forth in the
Prospectus, the 1940 Act and the provisions of the Internal Revenue Code
relating to regulated investment companies, subject to policy decisions
adopted by the Trusts Board of Trustees.
(d) The Adviser shall furnish to the Trusts Board of
Trustees periodic reports on the investment performance of the Trust and
its Funds and Portfolios and on the performance of its obligations under
this Contract and shall supply such additional reports and information as
the Trusts officers or Board of Trustees shall reasonably request.
(e) On occasions when the Adviser deems the purchase
or sale of a security to be in the best interest of a Fund or Portfolio as
well as other of its clients, the Adviser, to the extent permitted by
applicable law, may aggregate the securities to be so sold or purchased
in order to obtain the best execution of the order or lower brokerage
commissions, if any. The Adviser may also on occasion purchase or sell
a particular security for one or more clients in different amounts. On
either occasion, and to the extent permitted by applicable law and
regulations, allocation of the securities so purchased or sold, as well
as the expenses incurred in the transaction, will be made by the Adviser
in the manner it considers to be the most equitable and consistent with
its fiduciary obligations to the Trust and to such other customers.
(f) The Adviser may cause a Fund and/or Portfolio
to pay a broker which provides brokerage and research services to the
Adviser a commission for effecting a securities transaction in excess
of the amount another broker might have charged. Such higher commissions
may not be paid unless the Adviser determines in good faith that the
amount paid is reasonable in relation to the services received in terms
of the particular transaction or the Advisers overall responsibilities
to the Trust and any other of the Advisers clients.
5. The Adviser shall give the Trust the benefit of the Advisers
best judgment and efforts in rendering services under this Contract. As
an inducement to the Advisers undertaking to render these services,
the Trust agrees that the Advisershall not be liable under this Contract
for any mistake in judgment or in any other event whatsoever, provided
that nothing in this Contract shall be deemed to protect or purport to
protect the Adviser against any liability to the Trust or its shareholders
to which the Adviser would otherwise be subject by reason of
willful misfeasance, bad faith or gross negligence in the performance
of the Advisers duties under this Contract or by reason of the Advisers
reckless disregard of its obligations and duties hereunder.
6. In consideration of the services to be rendered by the Adviser
under this Contract, each Fund and each Portfolio of the Trust shall pay
the Adviser a monthly fee on the first business day of each month, based
upon the average daily value (as determined on each business day at the
time set forth in the Prospectus for determining net asset value per share)
of the net assets of the Fund or Portfolio, as applicable, during the
preceding month, at the annual rates provided for in Exhibit A, as such
Exhibit A may be amended from time to time.
If the fees payable to the Adviser pursuant to this paragraph
6 begin to accrue before the end of any month or if this Contract
terminates before the end of any month, the fees for the period from
that date to the end of that month or from the beginning of that month
to the date of termination, as the case may be, shall be pro-rated
according to the proportion which the period bears to the full month
in which the effectiveness or termination occurs. For purposes of
calculating the monthly fees, the value of the net assets of each Fund
and each Portfolio shall be computed in the manner specified in the
Prospectus for the computation of net asset value. For purposes of
this Contract, a business day is any day the New York Stock Exchange is
open for trading.
7. If the aggregate expenses of every character incurred by, or
allocated to, the Trust in any fiscal year, other than interest, taxes,
brokerage commissions and other portfolio transaction expenses, other
expenditures which are capitalized in accordance with generally accepted
accounting principles and any extraordinary expense (including, without
limitation, litigation and indemnification expense), but including the
fees payable under this Contract (includable expenses), exceed any
expense limitations applicable to the Trust imposed by state securities
laws or regulations thereunder, as these limitations may be raised or
lowered from time to time, the Adviser shall pay the Trust an amount
equal to that excess. With respect to portions of a fiscal year in which
this Contract shall be in effect, the foregoing limitations shall be
pro-rated according to the proportion which that portion of the fiscal
year bears to the full fiscal year. At the end of each month of the
Trusts fiscal year, the Adviser will review the includable expenses
accrued during that fiscal year to the end of the period and shall
estimate the contemplated includable expenses for the balance of that
fiscal year. If, as a result of that review and estimation, it
appears likely that the includable expenses will exceed the limitations
referred to in this paragraph 7 for a fiscal year with respect to the
Trust, the monthly fees relating to the Trust payable to the Adviser under
this Contract and under the Administration Agreement for such month
shall be reduced, subject to a later reimbursement to reflect actual
expenses, by an amount equal to a pro rata portion (pro-rated on the
basis of the remaining monthsof the fiscal year, including the month
just ended) of the amount by which the includable expenses for the
fiscal year (less an amount equal to the aggregate of actual
reductions made to this provision with respect to prior months of the
fiscal year) are expected to exceed the limitations provided in this
paragraph 7. For purposes of the foregoing, the value of the net
assets of each Fund and each Portfolio of the Trust shall be
computed in the manner specified in paragraph 6, and any payments
required to be made by the Adviser shall be made once a year promptly
after the end of the Trusts fiscal year.
8. (a) This Contract shall become effective with respect to the
Funds and Portfolios on May 5, 2000 (and, with respect to any amendment,
or with respect to any additional fund or portfolio, the date of the
amendment or Supplement hereto) and shall continue in effect with respect
to a Fund or Portfolio for a period of more than two years from that
date (or, with respect to any additional fund or portfolio, the date
of the Supplement) only so long as the continuance is specifically
approved at least annually (i) by the vote of a majority of the
outstanding voting securities (as defined in the 1940 Act) of the
Fund or Portfolio or by the Trusts Board of Trustees and (ii) by the
vote, cast in person at a meeting called for such purpose, of a
majority of the Trusts trustees who are not parties to this Contract
or interested persons (as defined in the 1940 Act) of any such party.
(b) This Contract may be terminated with respect
to a Fund or Portfolio (or any additional fund or portfolio) at any
time, without the payment of any penalty, by a vote of a majority of
the outstanding voting securities (as defined in the 1940 Act) of the
Fund or Portfolio or by a vote of a majority of the Trusts entire
Board of Trustees on 60 days written notice to the Adviser or by the
Adviser on 60 days written notice to the Trust. This Contract
(or any Supplement hereto) shall terminate automatically in the event
of its assignment (as defined in the 1940 Act).
9. Except to the extent necessary to perform the Advisers
obligations under this Contract, nothing herein shall be deemed to
limit or restrict the right of the Adviser, or any affiliate of the Adviser,
or any employee of the Adviser, to engage in any other business or to
devote time and attention to the management or other aspects of any other
business, whether of a similar or dissimilar nature, or to render services
of any kind to any other corporation, firm, individual or association.
10. The investment management services of the Adviser to the Trust
under this contract are not to be deemed exclusive as to the Adviser and
the Adviser will be free to render similar services to others.
11. This Contract shall be construed in accordance with the laws
of the State of California, provided that nothing herein shall be
construed in a manner inconsistent with the 1940 Act.
12. The Declaration of Trust establishing the Trust, as amended
and restated effective March 31, 2000, a copy of which, together with
all amendments thereto (the Declaration), is on file in the Office
of the Secretary of the Commonwealth of Massachusetts, provides that
the name PIMCO Funds refers to the trustees under the Declaration
collectively as trustees and not as individuals or personally, and
that no shareholder, trustee, officer, employee or agent of the Trust
shall be subject to claims against or obligations of the Trust to any
extent whatsoever, but that the Trust estate only shall be liable.
If the foregoing correctly sets forth the agreement between
the Trust and the Adviser, please so indicate by signing and returning
to the Trust the enclosed
copy hereof.
Very truly yours,
PIMCO FUNDS
By: /s/ Xxx Xxxxx
Title: President
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
By: /s/Xxxxx X. Xxxxxx
Title: Managing Director
-------------------------------------------------------------------------------
SUPPLEMENT TO AMENDED AND RESTATED INVESTMENT ADVISORY CONTRACT
PIMCO FUNDS
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
October 01, 2009
Pacific Investment Management Company LLC
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
Dear Sirs:
As provided in the Amended and Restated Investment Advisory Contract
between PIMCO Funds (the "Trust") and Pacific Investment Management Company
LLC (the "Adviser"), dated February 23, 2009 (the "Contract"), the parties may
amend the Contract to reflect fee reductions by the Adviser.
The Trust and the Adviser hereby agree to amend the Contract as of the
date hereof to revise Exhibit A. Accordingly, the current Exhibit A is replaced
with the new Exhibit A attached hereto.
EXHIBIT A
(as of October 01, 2009)
PIMCO Funds
Fund Investment Advisory Fee
All Asset Fund 0.175%
All Asset All Authority Fund 0.20%
California Intermediate Municipal Bond Fund 0.225%
California Short Duration Municipal Income Fund(5) 0.18%
Commercial Mortgage Securities Fund 0.40%
CommodityRealReturn Strategy Fund 0.49%
Convertible Fund 0.40%
Developing Local Markets Fund 0.45%
Diversified Income Fund 0.45%
EM Fundamental IndexPLUS TR Strategy Fund 0.85%
Emerging Local Bond Fund 0.45%
Emerging Markets Bond Fund 0.45%
Emerging Markets and Infrastructure Bond Fund 0.85%
Extended Duration Fund 0.25%
Floating Income Fund 0.30%
Foreign Bond Fund (U.S. Dollar-Hedged) 0.25%
Foreign Bond Fund (Unhedged) 0.25%
Fundamental Advantage Total Return
Strategy Fund 0.64%
Fundamental IndexPLUS Fund 0.45%
Fundamental IndexPLUS TR Fund 0.54%
Global Advantage Strategy Bond Fund 0.40%
Global Bond Fund (Unhedged) 0.25%
Global Bond Fund (U.S. Dollar-Hedged) 0.25%
Global Multi-Asset Fund 0.90%
GNMA Fund 0.25%
Government Money Market Fund 0.12%
High Yield Fund 0.25%
High Yield Municipal Bond Fund 0.30%
Income Fund 0.25%
International StocksPLUS TR Strategy Fund
(U.S. Dollar-Hedged) 0.45%
International StocksPLUS TR Strategy Fund
(Unhedged) 0.39%
Investment Grade Corporate Bond Fund 0.25%
Liquid Assets Fund 0.10%
Loan Obligation Fund 0.25%
Long Duration Fund 0.25%
Long Duration Total Return Fund 0.25%
Long-Term Credit Fund 0.30%
Long-Term U.S. Government Fund 0.225%
Low Duration Fund 0.25%
Low Duration Fund II 0.25%
Low Duration Fund III 0.25%
Moderate Duration Fund 0.25%
Money Market Fund 0.12%
Mortgage-Backed Securities Fund 0.25%
MuniGO Fund 0.20%
Municipal Bond Fund(5) 0.20%
New York Municipal Bond Fund 0.225%
Real Income 2019 Fund 0.19%
Real Income 2029 Fund 0.19%
Real Return Fund 0.25%
Real Return Asset Fund 0.30%
RealEstateRealReturn Strategy Fund 0.49%
RealRetirement 2010 Fund 0.70%
RealRetirement 2020 Fund 0.70%
RealRetirement 2030 Fund(1) 0.75%
RealRetirement 2040 Fund(2) 0.80%
RealRetirement 2050 Fund(3) 0.80%
Short Duration Municipal Income Fund(5) 0.18%
Short-Term Fund 0.25%
Small Cap StocksPLUS TR Fund 0.44%
StocksPLUS Fund 0.25%
StocksPLUS Long Duration Fund 0.35%
StocksPLUS Municipal-Backed Fund 0.34%
StocksPLUS TR Short Strategy Fund 0.44%
StocksPLUS Total Return Fund 0.39%
Tax Managed Real Return Fund 0.25%
Total Return Fund 0.25%
Total Return Fund II 0.25%
Total Return Fund III 0.25%
Treasury Money Market Fund 0.12%
Unconstrained Bond Fund 0.60%
Unconstrained Tax Managed Bond Fund 0.40%
Private Account Portfolio Series
Portfolio Investment Advisory Fee
Asset-Backed Securities Portfolio 0.02%
Asset-Backed Securities Portfolio II 0.02%
Developing Local Markets Portfolio 0.02%
Emerging Markets Portfolio 0.02%
High Yield Portfolio 0.02%
International Portfolio 0.02%
Investment Grade Corporate Portfolio 0.02%
Long Duration Corporate Bond Portfolio 0.02%
Mortgage Portfolio 0.02%
Mortgage Portfolio II 0.02%
Municipal Sector Portfolio 0.02%
Opportunity Portfolio 0.02%
Real Return Portfolio 0.02%
Short-Term Floating NAV Portfolio(4) 0.00%
Short-Term Floating NAV Portfolio II 0.02%
Short-Term Portfolio 0.02%
U.S. Government Sector Portfolio 0.02%
U.S. Government Sector Portfolio II 0.02%
________________________________________
(1) Effective April 1, 2015, the Fund's investment advisory fee will be reduced
to 0.70%.
(2) Effective April 1, 2015, the Fund's investment advisory fee will be reduced
to 0.75%. Effective April 1, 2025, the Fund's investment advisory fee
will be further reduced to 0.70%.
(3) Effective April 1, 2025, the Fund's investment advisory fee will be reduced
to 0.75%. Effective April 1, 2035, the Fund's investment advisory fee
will be further reduced to 0.70%.
(4) Short-Term Floating NAV Portfolio is offered only to other series of the
PIMCO Funds (each an "Investing Fund") or other series of registered
investment companies for which PIMCO serves as investment adviser.
Short-Term Floating NAV Portfolio does not pay an investment advisory
fee to PIMCO. By investing in the Short-Term Floating NAV Portfolio,
each Investing Fund agrees that 0.01% of the fee that each Investing
Fund is currently obligated to pay PIMCO as indicated on this Exhibit
A, will be designated as compensation for the investment advisory
services PIMCO provides to Short-Term Floating NAV Portfolio under
the Contract.
(5) Reflects a fee reduction effective October 1, 2009.
If the foregoing correctly sets forth the Contract between the Trust and the
Adviser, please so indicate by signing and returning to the Trust the enclosed
copy hereof.
Very truly yours,
PIMCO FUNDS
By: /s/ Xxxxx X. Xxxxxxx
Title: Vice President
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
By: /s/ Xxxxx X. Xxxxxx
Title: Managing Director
-------------------------------------------------------------------------------
SUPPLEMENT TO AMENDED AND RESTATED INVESTMENT ADVISORY CONTRACT
PIMCO FUNDS
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
February 23, 2010
Pacific Investment Management Company LLC
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: PIMCO CommoditiesPLUS Strategy Fund and PIMCO CommoditiesPLUS Short
Strategy Fund (the "Funds")
Dear Sirs:
As provided in the Amended and Restated Investment Advisory Contract
between PIMCO Funds (the "Trust") and Pacific Investment Management Company
LLC (the "Adviser"), dated February 23, 2009 (the "Contract"), the parties may
amend the Contract to add additional series of the Trust, under the same terms
and conditions as set forth in the Contract, and at a fee rate set forth in
Exhibit A to the Contract, as may be amended from time to time.
The Trust and the Adviser hereby agree to amend the Contract as of the
date hereof to add the Funds to Exhibit A. The current Exhibit A is replaced
with the new Exhibit A attached hereto.
The Declaration of Trust establishing the Trust, as amended and restated
effective March 31, 2000, a copy of which, together with all amendments
thereto (the "Declaration"), is on file in the Office of the Secretary of the
Commonwealth of Massachusetts, provides that the name "PIMCO Funds" refers to
the trustees under the Declaration collectively as trustees and not as
individuals or personally, and that no shareholder, trustee, officer, employee
or agent of the Trust shall be subject to claims against or obligations of the
Trust to any extent whatsoever, but that the Trust estate only shall be
liable.
EXHIBIT A
(as of February 23, 2010)
PIMCO Funds
Fund Investment Advisory Fee
All Asset Fund 0.175%
All Asset All Authority Fund 0.20%
California Intermediate Municipal Bond Fund 0.225%
California Short Duration Municipal Income Fund 0.18%
Commercial Mortgage Securities Fund 0.40%
CommoditiesPLUS Short Strategy Fund 0.54%
CommoditiesPLUS Strategy Fund 0.49%
CommodityRealReturn Strategy Fund 0.49%
Convertible Fund 0.40%
Developing Local Markets Fund 0.45%
Diversified Income Fund 0.45%
EM Fundamental IndexPLUS TR Strategy Fund 0.85%
Emerging Local Bond Fund 0.45%
Emerging Markets Bond Fund 0.45%
Emerging Markets and Infrastructure Bond Fund 0.85%
Extended Duration Fund 0.25%
Floating Income Fund 0.30%
Foreign Bond Fund (U.S. Dollar-Hedged) 0.25%
Foreign Bond Fund (Unhedged) 0.25%
Fundamental Advantage Total Return
Strategy Fund 0.64%
Fundamental IndexPLUS Fund 0.45%
Fundamental IndexPLUS TR Fund 0.54%
Global Advantage Strategy Bond Fund 0.40%
Global Bond Fund (Unhedged) 0.25%
Global Bond Fund (U.S. Dollar-Hedged) 0.25%
Global Multi-Asset Fund 0.90%
GNMA Fund 0.25%
Government Money Market Fund 0.12%
High Yield Fund 0.25%
High Yield Municipal Bond Fund 0.30%
Income Fund 0.25%
International StocksPLUS TR Strategy Fund
(U.S. Dollar-Hedged) 0.45%
International StocksPLUS TR Strategy Fund
(Unhedged) 0.39%
Investment Grade Corporate Bond Fund 0.25%
Liquid Assets Fund 0.10%
Loan Obligation Fund 0.25%
Long Duration Fund 0.25%
Long Duration Total Return Fund 0.25%
Long-Term Credit Fund 0.30%
Long-Term U.S. Government Fund 0.225%
Low Duration Fund 0.25%
Low Duration Fund II 0.25%
Low Duration Fund III 0.25%
Moderate Duration Fund 0.25%
Money Market Fund 0.12%
Mortgage-Backed Securities Fund 0.25%
MuniGO Fund 0.20%
Municipal Bond Fund 0.20%
New York Municipal Bond Fund 0.225%
Real Income 2019 Fund 0.19%
Real Income 2029 Fund 0.19%
Real Return Fund 0.25%
Real Return Asset Fund 0.30%
RealEstateRealReturn Strategy Fund 0.49%
RealRetirement 2010 Fund 0.70%
RealRetirement 2020 Fund 0.70%
RealRetirement 2030 Fund(1) 0.75%
RealRetirement 2040 Fund(2) 0.80%
RealRetirement 2050 Fund(3) 0.80%
Short Duration Municipal Income Fund 0.18%
Short-Term Fund 0.25%
Small Cap StocksPLUS TR Fund 0.44%
StocksPLUS Fund 0.25%
StocksPLUS Long Duration Fund 0.35%
StocksPLUS Municipal-Backed Fund 0.34%
StocksPLUS TR Short Strategy Fund 0.44%
StocksPLUS Total Return Fund 0.39%
Tax Managed Real Return Fund 0.25%
Total Return Fund 0.25%
Total Return Fund II 0.25%
Total Return Fund III 0.25%
Treasury Money Market Fund 0.12%
Unconstrained Bond Fund 0.60%
Unconstrained Tax Managed Bond Fund 0.40%
Private Account Portfolio Series
Portfolio Investment Advisory Fee
Asset-Backed Securities Portfolio 0.02%
Asset-Backed Securities Portfolio II 0.02%
Developing Local Markets Portfolio 0.02%
Emerging Markets Portfolio 0.02%
High Yield Portfolio 0.02%
International Portfolio 0.02%
Investment Grade Corporate Portfolio 0.02%
Long Duration Corporate Bond Portfolio 0.02%
Mortgage Portfolio 0.02%
Mortgage Portfolio II 0.02%
Municipal Sector Portfolio 0.02%
Opportunity Portfolio 0.02%
Real Return Portfolio 0.02%
Short-Term Floating NAV Portfolio(4) 0.00%
Short-Term Floating NAV Portfolio II 0.02%
Short-Term Portfolio 0.02%
U.S. Government Sector Portfolio 0.02%
U.S. Government Sector Portfolio II 0.02%
________________________________________
(1) Effective April 1, 2015, the Fund's investment advisory fee will be reduced
to 0.70%.
(2) Effective April 1, 2015, the Fund's investment advisory fee will be reduced
to 0.75%. Effective April 1, 2025, the Fund's investment advisory fee
will be further reduced to 0.70%.
(3) Effective April 1, 2025, the Fund's investment advisory fee will be reduced
to 0.75%. Effective April 1, 2035, the Fund's investment advisory fee
will be further reduced to 0.70%.
(4) Short-Term Floating NAV Portfolio is offered only to other series of the
PIMCO Funds (each an "Investing Fund") or other series of registered
investment companies for which PIMCO serves as investment adviser.
Short-Term Floating NAV Portfolio does not pay an investment advisory
fee to PIMCO. By investing in the Short-Term Floating NAV Portfolio,
each Investing Fund agrees that 0.01% of the fee that each Investing
Fund is currently obligated to pay PIMCO as indicated on this Exhibit
A, will be designated as compensation for the investment advisory
services PIMCO provides to Short-Term Floating NAV Portfolio under
the Contract.
If the foregoing correctly sets forth the Contract between the Trust and the
Adviser, please so indicate by signing, dating and returning to the Trust the
enclosed copy hereof.
Very truly yours,
PIMCO FUNDS
By: /s/ Xxxxx X. Xxxxxxx
Title: Vice President
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
By: /s/ Xxxxx X. Xxxxxx
Title: Managing Director
PIMCO FUNDS, on behalf of its series Private
Account Portfolio Series: Short-Term Floating NAV
Portfolio
By: /s/ Xxxxx X. Xxxxxxx
Title: Vice President
