AMENDMENT TO THE MANAGED PORTFOLIO SERIES TRANSFER AGENT SERVICING AGREEMENT
AMENDMENT TO THE
THIS AMENDMENT dated as of the 6th day of September, 2012, to the Transfer Agent Servicing Agreement, dated as of April 6, 2011, as amended August 23, 2011, February 16, 2012, November 8, 2011 and May 23, 2012 (the "Agreement"), is entered into by and between Managed Portfolio Series, a Delaware statutory trust (the "Trust") and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company ("USBFS").
RECITALS
WHEREAS, the parties have entered into the Agreement; and
WHEREAS, the parties desire to amend the series of the Trust to add funds; and
WHEREAS, Section 12 of the Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree to amend the exhibits and add the following series of Managed Portfolio Series:
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Exhibit K, the Advantus Strategic Dividend Income Fund, is hereby added to the Agreement and attached hereto.
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Except to the extent amended hereby, the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
| MANAGED PORTFOLIO SERIES | U.S. BANCORP FUND SERVICES, LLC |
| By: /s/ Xxxxx X. Xxxxxx | By: /s/ Xxxxxxx X. XxXxx |
| Printed Name: Xxxxx X. Xxxxxx | Printed Name: Xxxxxxx X. XxXxx |
| Title: President | Title: Executive Vice President |
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Exhibit K to the Managed Portfolio Series Transfer Agent Servicing Agreement
Name of Series
Advantus Strategic Dividend Income Fund
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Multiple Series Trust
TRANSFER AGENT & SHAREHOLDER SERVICES ACCOUNT SERVICES
FEE SCHEDULE at September, 2012
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Annual Service Charges to the Fund*
§ Base Fee Per CUSIP $[…] /year
§ XXXX Xxxxx 0 Accounts $[…]/open account
§ Direct Accounts $[…]/open account
§ Closed Accounts $[…]/closed account
Activity Charges
§ Manual Shareholder Transaction & Correspondence $[…]/event
§ Omnibus Account Transaction $[…]/transaction
§ Telephone Calls $[…]/minute
§ Voice Response Calls $[…]/call
§ Daily Valuation/Manual 401k Trade $[…]/trade
Out-Of-Pocket Expenses
Including but not limited to telephone toll-free lines, call transfers, mailing, sorting and postage, stationery, envelopes, service/data conversion, AML verification services, special reports, record retention, processing of literature fulfillment kits, lost shareholder search, disaster recovery charges, ACH fees, Fed wire charges, NSCC activity charges, voice response (VRU) maintenance and development, data communication and implementation charges, specialized programming, and travel.
Additional Services
DST NSCC costs are included in the proposal. Other additional services are available as part of the transfer agency service, and are shown beginning on page 7 of this proposal
MARS sales reporting, Informa electronic statements, and eCONNECT services are also available upon request.
*Subject to annual CPI increase, Milwaukee MSA.
Fees are billed monthly.
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Advisor’s Signature below acknowledges approval of the four (4) fee schedules on this Exhibit K.
ADVANTUS CAPITAL MANAGEMENT, INC.
By: /s/ Xxxx X. Xxxxxx
Printed Name: Xxxx X. Xxxxxx
Title: Financial Vice President Date: 8/31/12
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Exhibit K (continued) to the Managed Portfolio Series Transfer Agent Servicing Agreement
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TRANSFER AGENT & SHAREHOLDER SERVICES
SUPPLEMENTAL SERVICES - E-COMMERCE SERVICES
FEE SCHEDULE at September, 2012
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Vision Mutual Fund Gateway
Permits broker/dealers, financial planners, and RIAs to use a web-based system to perform order and account inquiry, execute trades, print applications, review prospectuses, and establish new accounts.
§ Inquiry Only
− Inquiry - $[…]/event
− Per broker ID - $[…]/month per ID
§ Transaction Processing – minimum monthly fee - $[…]
− Implementation - $[…]/management company
− Transaction (Purchase, redeem, exchange, literature order) - $[…]/event
− New Account Setup – $[…]/event
System Access for Fund Investment Advisor
Normal Secure Internet Access - access to fund and investor data through USBFS applications, data delivery & security software.
§ Report Source - $[…]/user per month
− Setup (Includes access to Fund Source) - $[…]
§ BDS – Statement Storage & Retrieval - $[…]/user per month
− Setup - $[…]/user
§ Ad Hoc/ PowerSelect File Development - $[…]/file per month
− Setup - $[…]/request (includes up to 2 hours of programming.)
§ Custom Electronic File Exchange (DDS delivery of standard TIP files) - $[…]/file per month
− One Time Setup Fee - $[…]
§ Mail File (DDS mailbox in which clients can pull information) - $[…]/file setup
§ Setup & Delivery of Standard TIP Files - $[…]/request (Unlimited files per request)
§ Custom TIP File Development - $[…]/request (Includes up to 2 hours of programming.)
Dedicated Line – when high speed, continuous access is necessary to mirror USBFS servicing
§ Normal Charges above, plus
§ TA2000 AWD Access - $[…]/year per workstation
§ Data communications setup and monthly charges based upon location and bandwidth
§ Training billed at hourly rates plus out-of-pocket expenses
Programming Charges
§ $[…]/hour
§ Charges incurred for customized services that may include fund setup programming (transfer agent system, statements, options, etc.), conversion programming, customized service development, voice response system setup (Menu selections, shareholder system integration, testing, etc.), or other client specific customization and/or development services
CUSIP Setup
§ Subsequent CUSIP Setup - $[…]/CUSIP
§ Expedited CUSIP Setup - $[…]/CUSIP (Less than 35 days)
Same Day Cash Management
§ Setup - $[…] (Access via Internet VPN)
§ Service - $[…]/user per month
Real Time Cash Flow
§ Implementation (one time charge) for up to 5 Users – $[…]
§ Monthly Fee per feed - $[…]/month
§ Implementation (per feed) - $[…]/hour (8 hour estimate)
§ Training - TBD
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Exhibit K (continued) to the Managed Portfolio Series Transfer Agent Servicing Agreement
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TRANSFER AGENT & SHAREHOLDER SERVICES
SUPPLEMENTAL SERVICES - E-COMMERCE SERVICES (continued)
FEE SCHEDULE at September, 2012
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FAN Web
Shareholder internet access to account information and transaction capabilities through a hyperlink at the fund group web site. Shareholders access account information, portfolio listing fund family, transaction history, purchase additional shares through ACH, etc.
§ FAN Web Select (Fund Groups under 50,000 open accounts) - $[…]Annual Base Fee
− Implementation - $[…]/fund group – includes up to 10 hours of technical/BSA support
§ Activity (Session) Fees
− Inquiry - $[…]/event
− Account Maintenance - $[…]/event
− Transaction (Financial transactions, reorder statements, etc.) - $[…]/event
− New Account Setup - $[…]/event (Not available with FAN Web Select)
− Strong Authentication - $[…]/month per active FAN Web ID (activity within previous 180 days is considered Active)
FAN Mail
Financial planner mailbox provides transaction, account and price information to financial planners and small broker/dealers for import into a variety of financial planning software packages.
§ Base Fee Per Management Company (File generation and delivery) - $[…]/year
§ Per Record Charge
− Rep/Branch/ID - $[…]
− Dealer - $[…]
§ Price Files - $[…]/record or $[…]/user per month, whichever is less
Email Services – Services to capture, queue, monitor, service and archive shareholder email correspondence.
§ Setup - $[…]/fund group
§ Administration - $[…]/month
§ Correspondence - $[…]/received email
Outbound Calling & Marketing Campaigns – Cost based on project requirements.
Creation of “white label” Money Market Fund Service Organizations
§ $[…]/money market share class per year, plus out-of-pocket expenses (see Transfer Agent Fee Schedule)
Special Transfer Agent Training Services
§ On-site at USBFS - $[…]/day
§ At Client Location - $[…]/day plus travel and out-of-pocket expenses if required
Charges Paid by Investors
Shareholder accounts will be charged based upon the type of activity and type of account, including the following:
§ Qualified Plan Fees
− $[…] /qualified plan account or Xxxxxxxxx ESA account (Cap at $[…]/SSN)
− $[…]/transfer to successor trustee
− $[…]/participant distribution (Excluding SWPs)
− $[…]/refund of excess contribution
− $[…]/reconversion/recharacterization
Additional Shareholder Paid Fees
− $[…]/outgoing wire transfer or overnight delivery
− $[…]/telephone exchange
− $[…]/return check or ACH or stop payment
− $[…]/research request per account, capped at $[…]/request, for statement requests older than the prior year)
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Exhibit K (continued) to the Managed Portfolio Series Transfer Agent Servicing Agreement
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TRANSFER AGENT & SHAREHOLDER SERVICES
SUPPLEMENTAL SERVICES
FEE SCHEDULE at September, 2012
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Computer Telephony Integration Reporting – Integrated custom detailed call reporting
§ $[…]/monthly report
Short-Term Trader – Software application used to track and/or assess transaction fees that are determined to be short-term trades. Service can be applied to some or all funds within a fund family. Fees will be applied if the fund(s) have a redemption fee.
§ 90 days or less: $[…]/open account
§ 91-180 days: $[…]/open account
§ 181-270 days: $[…]/open account
§ 271 days – 1 year: $[…]/open account
§ 1 year – 2 years: $[…]/open account
Excessive Trader – Software application that monitors the number of trades (exchanges/redemptions) that meet fund family criteria for excessive trading and automatically prevents trades in excess of the fund family parameters.
§ Setup - $[…]/fund group of 1-5 funds; $[…]/fund group of over 5 funds
§ $[…]/account per year
Cost Basis Reporting – Annual reporting of shareholder cost basis for non-fiduciary direct accounts based upon an average cost single category basis calculation.
§ $[…]/direct open account per year
Shareholder Performance Statements –account or portfolio level performance information on investor statements. Total costs will depend upon specific client requirements.
§ Setup - $[…]/fund group
§ Annual Fee - $[…]/open and closed account
12b-1 Distribution Fee Aging – Aging shareholder account share lots in order to monitor and begin assessing 12b-1 fees after a certain share lot age will be charged at $[…]per open account per year.
Dealer Reclaim Services – Services reclaim fund losses due to the pricing differences for dealer trade adjustments such as between dealer placed trades and cancellations. There will be no correspondence charges related to this service.
§ $[…]/fund group per month
Literature Fulfillment Services
§ Account Management
− $[…]/month (account management, lead reporting and database administration)
§ Inbound Teleservicing Only
− Account Management - $[…]/month
− Call Servicing - $[…]/minute
§ Lead Conversion Reporting (Closed Loop)
− Account Management - $[…]/month
− Database Installation, Setup - $[…]/fund group
§ Out-of-Pocket Expenses
− Included but not limited to specialized programming, kit and order processing expenses, postage, and printing.
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