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EXHIBIT 99(a.22)
THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 21 TO
MASTER TRUST AGREEMENT
This Amendment No. 21 to the Master Trust Agreement of The Xxxxxx &
Rygel Investment Group, dated January 22, 1992, as amended (the "Agreement"), is
made as of September __, 1999.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated twenty-two 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
U.S. Growth Leaders 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 EuroDirect Fund and Xxxxxx & Rygel European Aggressive Growth 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 an
additional sub-trust, to be known as the Xxxxxx & Rygel Low Duration Bond Fund,
and to fix the rights and preferences of the shares of such additional
sub-trust;
NOW THEREFORE:
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
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"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 Low Duration Bond 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 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
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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.
