June 11, 2024 Lucas Foss, President Financial Investors Trust Denver, CO 80203
June 11, 2024
Xxxxx Xxxx, President
0000 Xxxxxxxx, Xxxxx 0000
Denver, CO 80203
| Re: | Emerald Finance and Banking Innovation Fund, Emerald Growth Fund and Emerald Insights Fund, each a Series of the Financial Investors Trust (the “Trust”) |
Dear Xx. Xxxx:
This letter confirms the agreement of Emerald Mutual Fund Advisers Trust (the “Adviser”) with the Trust to contractually limit the total amount of the “Management Fees” and “Other Expenses” that it is entitled to receive from the Emerald Finance and Banking Innovation Fund, the Emerald Growth Fund and the Emerald Insights Fund (each a “Fund,” and collectively, the “Funds”).
With respect to the Funds’ Class A, Class C, Institutional Class and Investor Class shares, to the extent the Total Annual Fund Operating Expenses of a Fund (as defined in Item 3 of Form N-1A, and exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes and extraordinary expenses) exceed the annual rates (as a percentage of each Fund’s average daily net assets) set forth on Schedule A hereto, the Adviser will reduce the fee payable with respect to such Fund to the extent of such excess, and/or 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 further agrees that such fee waivers and reimbursements for the Funds are effective as of September 1, 2024, and shall continue at least through August 31, 2025, with respect to each Fund.
The Adviser will be permitted to recapture, on a class-by-class basis, expenses it has borne through this letter agreement to the extent that a Fund’s expenses in later periods fall below the annual rates set forth in this letter agreement; provided, however, that such recapture payments do not cause the Fund’s expense ratio (after recapture) to exceed the lesser of (i) the expense cap in effect at the time of the waiver and (ii) the expense cap in effect at the time of the recapture. Notwithstanding the foregoing, a Fund will not pay any such deferred fees and expenses more than three years after the date on which the fee and expenses were deferred.
| 0000 Xxxxxx Xxxx • Leola, PA 17540 | |
| Tel: 000.000.0000 • 000.000.0000 • Fax: 000.000.0000 | |
| xxx.xxxxxxxxxxx.xxx |
EMERALD MUTUAL FUND ADVISERS TRUST
| By: | /s/ Xxxxxx Xxxxx | |
| Name: | Xxxxxx Xxxxx | |
| Title: | Executive Vice President |
Acknowledged and accepted by:
| By: | /s/ Xxxxx Xxxx | |
| Name: | Xxxxx Xxxx | |
| Title: | President |
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Schedule A
Net Annual Fund Operating Expenses after Fee Waiver/Expense Reimbursement
Emerald Finance and Banking Innovation Fund
| Class A | Class C | Institutional Class | Investor Class |
| 1.84% | 2.49% | 1.54% | 1.89% |
Emerald Growth Fund
| Class A | Class C | Institutional Class | Investor Class |
| 1.29% | 1.94% | 0.99% | 1.34% |
Emerald Insights Fund
| Class A | Class C | Institutional Class | Investor Class |
| 1.35% | 2.00% | 1.05% | 1.40% |
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