SUPPLEMENT TO INVESTMENT MANAGEMENT AGREEMENT PIMCO Equity Series
SUPPLEMENT TO
INVESTMENT MANAGEMENT AGREEMENT
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
November 4, 2019
Pacific Investment Management Company LLC
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: PIMCO RAFI ESG U.S. ETF (the “Fund”)
Dear Sirs and Madams:
As provided in the Investment Management Agreement between PIMCO Equity Series (the “Trust”) and Pacific Investment Management Company LLC (the “Adviser”), dated May 17, 2017 (the “Agreement”), the parties may amend the Agreement to add additional series of the Trust, under the same terms and conditions as set forth in the Agreement, and at the fee rates set forth in Schedule A to the Agreement, as may be amended from time to time.
The Trust and the Adviser hereby agree to amend the Agreement as of the date hereof to add the Fund to Schedule A. The current Schedule A is replaced with the new Schedule A attached hereto.
This Supplement and the Agreement shall become effective with respect to the Fund on November 4, 2019 and shall continue in effect for a period not to exceed two years from the effective date of this Supplement and shall continue thereafter on an annual basis with respect to the Fund only so long as such continuance is specifically approved at least annually by (a) the Trust’s Board of Trustees or by the vote of a majority of the outstanding voting securities (as defined in the Investment Company Act of 1940, as amended (the “1940 Act”)) of the Fund, and (b) the vote, cast in person at a meeting called for such purpose, of a majority of the Trust’s Trustees who are not parties to the Agreement or “interested persons” (as defined in the 0000 Xxx) of any such party. This Supplement and the Agreement shall terminate automatically in the event of its assignment (as defined in the 1940 Act). This Supplement and the Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by a vote of a majority of the outstanding voting securities (as defined in the 0000 Xxx) of the Fund or by a vote of a majority of the Trust’s entire Board of Trustees on 60 days’ written notice to the Adviser or by the Adviser on 60 days’ written notice to the Trust.
Schedule to Investment Management Agreement
As of November 4, 2019
Investment Management Fee Rates (%)
| Fund | Fee# | |||||||
|
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF |
0.49 | % | ||||||
|
PIMCO RAFI Dynamic Multi-Factor International Equity ETF |
0.39 | % | ||||||
|
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF |
0.29 | % | ||||||
|
PIMCO RAFI ESG U.S. ETF |
0.29 | % | ||||||
# Each Fund may invest in shares of PIMCO Funds: Private Account Portfolio Series – PIMCO Short-Term Floating NAV Portfolio III and PIMCO Funds: Private Account Portfolio Series – PIMCO Short Asset Portfolio, each a series of PIMCO Funds (the “PAPS Central Funds”). The PAPS Central Funds are offered only to series of the Trust (each an “Investing Fund”) or other series of registered investment companies for which PIMCO serves as investment adviser. The PAPS Central Funds, and their wholly-owned subsidiaries (if any), do not pay an investment advisory fee to PIMCO. By investing in a PAPS Central Fund, each Investing Fund agrees that 0.005% of the fee that each Investing Fund is currently obligated to pay PIMCO, as indicated on this Schedule A, will be designated as compensation for the investment advisory services PIMCO provides to the applicable PAPS Central Fund, and its wholly-owned subsidiary (if any), under the investment management agreement with PIMCO.
If the foregoing correctly sets forth the Agreement between the Trust and the Adviser, please so indicate by signing, dating and returning to the Trust the enclosed copy hereof.
| Very truly yours, | ||
| By: |
| |
| Title: |
Treasurer | |
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
| By: |
| |
| Title: |
Managing Director and Co-Chief Operating Officer |
| PIMCO FUNDS, on behalf of its series PIMCO Funds: Private Account Portfolio Series – PIMCO Short-Term Floating NAV Portfolio III and PIMCO Funds: Private Account Portfolio Series – PIMCO Short Asset Portfolio | ||
| By: |
| |
| Title: |
Treasurer | |
