By this letter dated March 1, 2023, we have agreed to waive a portion of the management fee payable to us under the Investment Management Agreement, dated November 18, 2014, as amended and restated on May 1, 2015, between Voya Investments, LLC ("VIL")...
(d)(1)(ii)
March 1, 2023
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, AZ 85258-2034
Ladies and Gentlemen:
By this letter dated March 1, 2023, we have agreed to waive a portion of the management fee payable to us under the Investment Management Agreement, dated November 18, 2014, as amended and restated on May 1, 2015, between Voya Investments, LLC ("VIL") and Voya Mutual Funds ("VMF") (the "Agreement"), with respect to Voya Multi-Manager International Factors Fund (the "Fund"), a series of VMF. By this letter, we agree to waive that fee, as indicated in the table below, for the period from March 1, 2023 through March 1, 2024.
This waiver (the "Waiver") is "outside" the Fund's expense limit arrangements under a separate expense limitation agreement (the "ELA"). This means that the Waiver does not reduce the Fund's net operating expense ratio before the ELA is applied. The Waiver is deducted after the ELA is applied. However, with respect to any share class of the Fund that has a 0.00% expense limit, the Waiver cannot further reduce the 0.00% net expense ratio experienced by shareholders with respect to that share class.
VIL acknowledges that any fees waived during the term of this Agreement shall not be eligible for recoupment at any time in the future.
Series |
Waiver |
|
(as a percentage of |
|
average daily net assets) |
Voya Multi-Manager International |
0.01% |
Factors Fund |
|
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Trustees of VMF.
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Please indicate your agreement to this reduction in fee for the aforementioned Fund by signing below where indicated.
Very sincerely,
By: /s/ Xxxx Xxxxx____________
Name: Xxxx Xxxxx
Title: Senior Vice President
Voya Investments, LLC
ACCEPTED AND AGREED TO:
By: /s/ Xxxxxxxx X. Xxxxxxxx
Name: Xxxxxxxx X. Xxxxxxxx
Title: Senior Vice President, Xxxx Authorized
