AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
This Amendment dated as of June 1, 2004, is to the Investment Management
Agreement made as of the 3rd day of December, 2002 (the "Agreement") by and
between Xxxxxxxxx Asset Management Ltd., a U.S. registered investment adviser
and a corporation organized under the laws of Singapore (the "Manager"), and
Xxxxxxxxx China World Fund (the "Fund").
WITNESSETH:
WHEREAS, both the Manager and the Fund wish to amend Paragraph 4 of the
Agreement; and
WHEREAS, the Board of Trustees of the Fund, including a majority of the
Independent Trustees of the Fund present in person, approved the following
amendment at a meeting called for such purpose on May 13, 2004.
NOW, THEREFORE, in consideration of the
foregoing premises, the parties hereto agree as follows:
The Fund agrees to pay to the Manager a monthly fee in dollars, at the
annual rate of the Fund's average weekly net assets, as listed below, payable at
the end of each calendar month:
1.25%, up to and including $1 billion
1.20% over $1 billion, up to and including $5 billion
1.15% over $5 billion, up to and including $10 billion
1.10% over $10 billion, up to and including $15 billion
1.05% over $15 billion, up to and including $20 billion
1.00% over $20 billion
IN WITNESS WHEREOF, this Amendment has been executed on behalf of each
party as of the date set forth above.
XXXXXXXXX ASSET MANAGEMENT LTD.
By:/s/XXXXXXX X. XXXXXXX
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Xxxxxxx X. XxXxxxx
Director
XXXXXXXXX CHINA WORLD FUND
By:/s/XXXXXX X. XXXXXXX
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Xxxxxx X. Xxxxxxx
Vice President and Assistant Secretary
