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EXHIBIT 5(a)-5.1
AMENDMENT OF INVESTMENT ADVISORY AGREEMENT
June 30, 1994
Sierra Investment Advisors Corporation
0000 Xxxxxx Xxxxxx, Xxxxx 000
P.O. Box 1160
Xxxxxxxxxx, Xxxxxxxxxx 00000-0000
Dear Sirs:
Sierra Trust Funds (the "Company," formerly known as XX Xxxxxx Trust
Funds), an unincorporated business trust organized under the laws of the
Commonwealth of Massachusetts, hereby agrees with Sierra Investment Advisors
Corporation ("Sierra Advisors," formerly known as Great Western Financial
Advisors Corporation), a corporation organized under the laws of the State of
California, to amend as follows the Investment Advisory Agreement (the
"Agreement") by and between the Company and Sierra Advisors dated July 7, 1989
with respect to employing the capital of the California Municipal Fund (the
"Fund," a series investment fund of the Company, formerly known as the GW
California Municipal Income Fund):
1. Amendment of Investment Advisory Agreement
Section 5 of the Agreement is amended by adding the following at the
end of the section: "Notwithstanding the compensation payable to Sierra Advisors
as provided above, the Company shall not pay to Sierra Advisors annually more
than 0.55% of the average daily net assets of the Fund calculated on a trailing
three-month basis."
2. Effective Date
This amendment to the Agreement shall be effective as of July 1, 1994.
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Sierra Investment Advisors Corporation
June 30, 1994
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If the foregoing accurately sets forth our agreement, kindly indicate
your acceptance hereof by signing and returning the enclosed copy hereof.
Very truly yours,
SIERRA TRUST FUNDS
By: /s/ F. Xxxxx Xxxxxx
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Name: F. Xxxxx Xxxxxx
Title: President
Accepted:
SIERRA INVESTMENT ADVISORS CORPORATION
By: /s/ Xxxxxxx X. Goth
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Name: Xxxxxxx X. Goth
Title: Chief Operating Officer
