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THE XXXXXX & RYGEL INVESTMENT GROUP
000 Xxxxx Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxx, Xxxxxxxxxx 00000
August , 1999
Xxxxxx & Rygel
000 Xxxxx Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxx, XX 00000
Ladies and Gentlemen:
As you know, we wish to retain Xxxxxx & Xxxxx to act as investment adviser
to our newly created GNMA Fund series. Accordingly, this will confirm our
agreement to amend Exhibit A to the Investment Management Agreement between us
dated as of June 24, 1992, as heretofore amended, by adding the following
paragraphs:
GNMA Fund Series
Annual Advisory Fees (as a percentage of average daily net assets) - 0.XX%
on the first $1 billion, and 0.XX% in excess thereof.
Operating Expense Limitation (as a percentage of average daily net assets)
- Class R shares, 0.XX%; Class S shares, 0.XX%.
In all other respects, the Investment Management Agreement between us, as
heretofore amended, will remain unchanged. Please sign this letter below to
confirm your agreement to this amendment.
Very truly yours,
Xxxx X. Xxxxxx
President
AGREED:
XXXXXX & RYGEL
BY:____________________________________
Xxxxxxxxxxx X. Xxxxxxxx
Managing Principal
