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EXHIBIT 1.17
THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 16 TO
MASTER TRUST AGREEMENT
This Amendment No. 16 to the Master Trust Agreement of The Xxxxxx &
Rygel Investment Group dated January 22, 1992, as amended (the "Agreement"), is
made as of December 16, 1997.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated seventeen sub-trusts known as the Xxxxxx & Rygel
Global Fixed Income Fund, the Xxxxxx & Rygel International Bond Fund, the
Xxxxxx & Rygel Tax Exempt Bond Fund, the Xxxxxx & Rygel Short Bond Fund, the
Xxxxxx & Rygel Intermediate Bond Fund, the Xxxxxx & Rygel Opportunity Fund, the
Xxxxxx & Rygel Limited Maturity Fund, the Xxxxxx & Rygel Short Duration Tax
Exempt Fund, the Xxxxxx & Rygel U.S. Treasury Fund, the Xxxxxx & Rygel Market
Return Fund, the Xxxxxx & Rygel Growth & Income Fund, the Xxxxxx & Rygel Global
Short Bond Fund, the Xxxxxx & Rygel Total Return Fund, the Xxxxxx & Rygel
International Equity Fund, the Xxxxxx & Rygel Global Balanced Fund, the Xxxxxx
& Rygel European Growth & Income Fund, and the PRAAM Money Market Fund; and
WHEREAS, the Trustees have the authority, without shareholder
approval, under Section 7.3 of the Agreement, to amend the Agreement in any
manner, so long as such amendment does not adversely affect the rights of any
shareholder and is not in contravention of applicable law; and
WHEREAS, the Trustees hereby desire to establish and designate one
additional sub-trust, to be known as the Xxxxxx & Rygel High Income Fund, and
to fix the rights and preferences of the shares of such additional sub-trust;
and
WHEREAS, the Trustees hereby desire to rename the classes of shares
for each of the existing seventeen sub-trusts, such that with respect to (a)
the PRAAM Money Market Fund, the Series A Shares and Series B Shares are
renamed the Series R Shares and Series D Shares, respectively, and (b) each of
the remaining sixteen sub-trusts, the Series A Shares and Series B Shares are
renamed the Series R Shares and Series S, respectively.
WHEREAS, the Trustees hereby desire to add a third class of shares,
the Class I Shares, to each of the Intermediate Bond, Investment Quality Bond
and Total Return Funds;
NOW THEREFORE:
The first paragraph of Section 4.2 of the Agreement is hereby amended
to read in pertinent part as follow:
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"Section 4.2 Establishment and Designation of Sub-Trusts.
Without limiting the authority of the Trustee set forth in Section 4.1
to establish and designate any further Sub-Trusts, the Trustees hereby
establish and designate eighteen Sub-Trusts and classes thereof: the
Xxxxxx & Rygel Global Fixed Income Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
Xxxxxx & Rygel International Bond Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
Xxxxxx & Rygel Tax Exempt Bond Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; the Xxxxxx &
Rygel Short Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Intermediate Bond Fund, which shall consist of three classes of shares
designated as "Class R", "Class S" and "Class I" shares; the Xxxxxx &
Rygel Investment Quality Bond Fund, which shall consist of three
classes of shares designated as "Class R", "Class S" and "Class I"
shares; the Xxxxxx & Rygel Limited Maturity Fund, which shall consist
of two classes of shares designated as "Class R" and "Class S" shares;
the Xxxxxx & Rygel Short Duration Tax Exempt Bond Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; the Xxxxxx & Rygel U.S. Treasury Fund, which shall consist of
two classes of shares designated as "Class R" and "Class S" shares; the
Xxxxxx & Rygel Market Return Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; the Xxxxxx &
Rygel Growth & Income Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Global Short Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel Total
Return Fund, which shall consist of three classes of shares designated
as "Class R", "Class S" and "Class I" shares; the Xxxxxx & Rygel
International Equity Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel Global
Balanced Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; the Xxxxxx & Rygel European Growth &
Income Fund, which shall consist of two classes of shares designated as
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"Class R" and "Class S" shares; the Xxxxxx & Rygel High Income Fund,
which shall consist of two classes of shares designated as "Class R"
and "Class S" shares; and the PRAAM Money Market Fund, which shall
consist of two classes of shares designated as "Class R" and "Class D"
shares. The shares of each Sub-Trust and classes thereof and any
shares of any further Sub-Trusts and classes thereof that may from
time to time be established and designated by the Trustees shall
(unless the Trustees otherwise determine with respect to some further
Sub-Trust or class a the time of establishing and designating the
same) have the following relative rights and preferences:".
The undersigned hereby certify that the Amendment set forth above has
been duly adopted in accordance with the provisions of the Master Trust
Agreement.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands for
themselves and their assigns, as of the day and year first above written. This
instrument may be executed in one or more counterparts, all of which shall
together constitute a single instrument.
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Xxxx X. Xxxxxx Xxxxx X. Xxxxx
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Xxxx Xxxx Xxxxxxxx Xxxxxxxxxxx X. Xxxxxxxx
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X. Xxxxxxxx La Force Xxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx Xxxxxx X. XxXxxxxx, Xx.
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X.X. Xxxxxx, Xx.
