FIRST AMENDMENT TO ADMINISTRATIVE SERVICES AGREEMENT

Exhibit 13(e)

FIRST AMENDMENT TO

ADMINISTRATIVE SERVICES AGREEMENT

This Amendment made as of November 1, 2005, by and between IXIS Asset Management Advisors, L.P. (“IXIS Advisors”), IXIS Advisor Funds Trust I, IXIS Advisor Funds Trust II, IXIS Advisor Funds Trust III, IXIS Advisor Funds Trust IV, IXIS Advisor Cash Management Trust, Xxxxxx Xxxxxx Funds I and Xxxxxx Xxxxxx Funds II (collectively, the “Trusts”).

WHEREAS, IXIS Advisors and the Trusts are parties to an Administrative Services Agreement dated January 3, 2005, (the “Agreement”), governing the terms and conditions under which IXIS Advisors provides certain administrative services to the series of the Trusts; and

WHEREAS, IXIS Advisors and the Trusts desire to amend Schedule A of the Agreement to reflect changes in Trust Portfolios;

NOW THEREFORE, in consideration of the premises and covenants contained herein, IXIS Advisors and the Trusts hereby agree as follows:

1. Schedule A of the Agreement is deleted in its entirety and replaced with Schedule A attached hereto.

2. Except as specifically superseded or modified herein, the terms and provisions of the Agreement shall continue to apply with full force and effect.

3. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.

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IN WITNESS WHEREOF, each of the parties has caused this instrument to be executed as a sealed instrument in its name and behalf by its duly authorized representative as of the date first above written.

IXIS ASSET MANAGEMENT ADVISORS, L.P.
By		IXIS Asset Management Distribution Corporation, its general partner
By:		/s/ Xxxx X. Xxxxxx
		Xxxx X. Xxxxxx, Executive Vice President
IXIS ADVISOR FUNDS TRUST I
IXIS ADVISOR FUNDS TRUST II
IXIS ADVISOR FUNDS TRUST III
IXIS ADVISOR FUNDS TRUST IV
IXIS ADVISOR CASH MANAGEMENT TRUST
XXXXXX XXXXXX FUNDS II
By:		/s/ Xxxx X. Xxxxxx
		Xxxx X. Xxxxxx, President
XXXXXX XXXXXX FUNDS I
By:		/s/ Xxxx X. Xxxxxx
		Xxxx X. Xxxxxx, Executive Vice President

Schedule A

Trust Portfolios

As of: November 1, 2005

IXIS Advisor Funds Trust I

CGM Advisor Targeted Equity Fund

Xxxxxxxxxx International Fund

IXIS Income Diversified Portfolio

IXIS U.S. Diversified Portfolio

IXIS Value Fund

Xxxxxx Xxxxxx Core Plus Bond Fund

Xxxxxxx Xxxxxx Small Cap Value Fund

Westpeak Capital Growth Fund

IXIS Advisor Funds Trust II

Xxxxxx Associates Large Cap Value Fund

Xxxxxx Xxxxxx Massachusetts Tax Free Income Fund

IXIS Advisor Funds Trust III

Xxxxxx Associates Focused Value Fund

IXIS Equity Diversified Portfolio

IXIS Moderate Diversified Portfolio

IXIS Advisor Funds Trust IV

AEW Real Estate Fund

IXIS Advisor Cash Management Trust

IXIS Cash Management Trust – Money Market Series

Xxxxxx Xxxxxx Funds I

Xxxxxx Xxxxxx Bond Fund

Xxxxxx Xxxxxx Fixed Income Fund

Xxxxxx Xxxxxx Global Bond Fund

Xxxxxx Xxxxxx High Income Opportunities Fund*

Xxxxxx Xxxxxx Inflation Protected Securities Fund

Xxxxxx Xxxxxx Institutional High Income Fund

Xxxxxx Xxxxxx Intermediate Duration Fixed Income Fund

Xxxxxx Xxxxxx Investment Grade Fixed Income Fund

Xxxxxx Xxxxxx Securitized Asset Fund*

Xxxxxx Xxxxxx Small Cap Value Fund

* With respect to these Funds only, paragraph 3 of the Agreement is revised to provide that IXIS Advisors shall be entitled to reasonable compensation for its services and expenses as Administrator, but Xxxxxx, Xxxxxx & Company, L.P. (“Xxxxxx Xxxxxx), the adviser to the Funds, and not Xxxxxx Xxxxxx Funds I, shall be responsible for payment of such compensation and expenses relating to the Funds, as agreed upon by Xxxxxx Xxxxxx in separate Letter Agreements dated January 3, 2005 and July 1, 2005, respectively.

Xxxxxx Xxxxxx Funds II

Xxxxxx Xxxxxx Aggressive Growth Fund

Xxxxxx Xxxxxx Growth Fund

Xxxxxx Xxxxxx High Income Fund

Xxxxxx Xxxxxx Investment Grade Bond Fund

Xxxxxx Xxxxxx Limited Term Government and Agency Fund

Xxxxxx Xxxxxx Municipal Income Fund

Xxxxxx Xxxxxx Research Fund

Xxxxxx Xxxxxx Small Cap Growth Fund

Xxxxxx Xxxxxx Strategic Income Fund

Xxxxxx Xxxxxx Tax-Managed Equity Fund

Xxxxxx Xxxxxx Value Fund

Xxxxxx Xxxxxx Worldwide Fund