ADMINISTRATION AGREEMENT
AGREEMENT made as of the November 1, 2004 and supplemented as of April 24,
2008, by and between the registered investment companies, including any
portfolio/series thereof, as set forth on Schedule A (each, a "Fund" and
collectively, the "Funds") as may be amended from time to time, and ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Services Company Inc., a Delaware corporation (hereinafter called the
"MS Services"):
WHEREAS, on the date hereof, the Funds and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Investment
Advisors Inc. (the "Investment Adviser") are entering into an Amended and
Restated Investment Advisory Agreement (the "Investment Advisory Agreement")
which further amends an Amended and Restated Investment Management Agreement,
dated as of May 1, 2004 between the Funds and the Investment Adviser (the
"Amended and Restated Investment Management Agreement") to remove from the
Amended and Restated Investment Management Agreement administrative and other
management services, with those services to be provided for in a separate
agreement;
WHEREAS, the Funds desire to retain MS Services to perform the
administrative services as described below; and
WHEREAS, MS Services desires to be retained by the Funds to perform such
administrative services;
NOW, THEREFORE, in consideration of the mutual covenants and agreements of
the parties hereto as herein set forth, the parties covenant and agree as
follows:
1. MS Services agrees to provide administrative services to each Fund as
hereinafter set forth. Without limiting the generality of the foregoing, MS
Services shall (i) administer the Fund's business affairs and supervise the
overall day-to-day operations of the Fund (other than rendering investment
advice); (ii) provide the Fund with full administrative services, including the
maintenance of certain books and records, such as journals, ledger accounts and
other records required under the Investment Company Act of 1940, as amended (the
"Act"), the notification to the Fund of available funds for investment, the
reconciliation of account information and balances among the Fund's custodian,
transfer agent and dividend disbursing agent and the Fund, and the calculation
of the net asset value of the Fund's shares; (iii) provide the Fund with the
services of persons competent to perform such supervisory, administrative and
clerical functions as are necessary to provide effective operation of the Fund;
(iv) oversee the performance of administrative and professional services
rendered to the Fund by others, including its custodian, transfer agent and
dividend disbursing agent, as well as accounting, auditing and other services,
including: (1) maintenance of the books and records and accounting controls for
the Fund's assets, including records of all securities transactions; (2) daily
calculation of the net asset value for each of the Fund's Portfolios; (3)
accounting for dividends and interest received and distributions made by each of
the Fund's Portfolios; (4) preparation and filing of the Fund's U.S. tax returns
and annual and semi-annual reports; (5) the production of transaction data,
financial reports and such other periodic and special reports as the Board of
Directors of the Fund may reasonably request; (6) the preparation of financial
statements for the annual and semi-annual reports and other shareholder
communications; (7) liaison with the Fund's independent registered public
accounting firms; (8) monitoring and administration of arrangements with the
Fund's custodian and depository banks; and (9) maintenance of (but not the
payment for) the Fidelity Bond required to be maintained under Investment
Company Act of 1940 (the "1940 Act") and preparation of the filings required in
connection therewith; (v) provide the Fund with adequate general office space
and facilities; (vi) assist in the preparation and the printing of the periodic
updating of the Fund's registration statement and prospectus (and, in the case
of an open-end Fund, the statement of additional information), tax returns,
proxy
statements, and reports to its shareholders and the Securities and Exchange
Commission; and (vii) monitor the compliance of the Fund's investment policies
and restrictions.
2. MS Services shall, at its own expense, maintain such staff and employ or
retain such personnel and consult with such other persons as it shall from time
to time determine to be necessary or useful to the performance of its
obligations under this Agreement. Without limiting the generality of the
foregoing, the staff and personnel of MS Services shall be deemed to include
officers of MS Services and persons employed or otherwise retained by MS
Services (including officers and employees of the Funds, with the consent of the
Funds) to furnish services, statistical and other factual data, information with
respect to technical and scientific developments, and such other information,
advice and assistance as MS Services may desire. MS Services shall maintain each
Fund's records and books of account (other than those maintained by the Fund's
transfer agent, registrar, custodian and other agencies). All such books and
records so maintained shall be the property of the Fund and, upon request
therefor, MS Services shall surrender to the Fund such of the books and records
so requested.
3. The Funds will, from time to time, furnish or otherwise make available
to MS Services such financial reports, proxy statements and other information
relating to the business and affairs of the Fund as MS Services may reasonably
require in order to discharge its duties and obligations to the Fund under this
Agreement or to comply with any applicable law and regulation or request of the
Board of Directors/Trustees of the Fund.
4. For the services to be rendered, the facilities furnished, and the
expenses assumed by MS Services, the Funds shall pay to MS Services monthly
compensation calculated daily (in the case of an open-end Fund) or weekly (in
the case of a closed-end Fund) by applying the annual rate or rates set forth on
Schedule B to the net assets of each Fund. Except as hereinafter set forth, (i)
in the case of an open-end Fund, compensation under this Agreement shall be
calculated by applying 1/365th of the annual rate or rates to the Fund's or the
Series' daily net assets determined as of the close of business on that day or
the last previous business day and (ii) in the case of a closed-end Fund,
compensation under this Agreement shall be calculated by applying the annual
rate or rates to the Fund's average weekly net assets determined as of the close
of the last business day of each week. If this Agreement becomes effective
subsequent to the first day of a month or shall terminate before the last day of
a month, compensation for that part of the month this Agreement is in effect
shall be prorated in a manner consistent with the calculation of the fees as set
forth on Schedule B. For the purposes of calculating the administrative fee for
the closed-end funds referenced on Annex 2 to the Investment Advisory Agreement,
the liquidation preference of any Preferred Shares issued by each of such Funds
will not be deducted from the Fund's total assets. In addition, for purposes of
this calculation, an amount up to the aggregate amount of any other borrowings
may be included in the Fund's administrative fee calculation. Subject to the
provisions of paragraph 5 hereof, payment of MS Services' compensation for the
preceding month shall be made as promptly as possible after completion of the
computations contemplated by paragraph 5 hereof.
5. In the event the operating expenses of those Funds identified in Annex 3
to the Investment Advisory Agreement, including amounts payable to the
Investment Adviser pursuant to paragraph 7 thereof and the amounts payable
hereunder, for any fiscal year ending on a date on which this Agreement is in
effect, exceed the expense limitations applicable to the Fund and/or any Series
thereof imposed by state securities laws or regulations thereunder, as such
limitations may be raised or lowered from time to time, the fee payable
hereunder shall be reduced on a pro rata basis in the same proportion as the fee
payable by the Fund under the Investment Advisory Agreement is reduced.
6. MS Services shall bear the cost of rendering the administrative services
to be performed by it under this Agreement, and shall, at its own expense, pay
the compensation of the officers and employees, if any, of the Funds who are
also directors, officers or employees of MS Services, and provide
- 2 -
such office space and equipment and such clerical and bookkeeping services as
each Fund shall reasonably require in the conduct of its business. MS Services
shall also bear the cost of heat, light, power and other utilities provided to
each Fund and the cost of out-of-pocket expenses incurred in the ordinary course
of providing services under this Agreement, such as telephone, fax, system
usage, internal controls assurance (such as a Statement on Auditing Standards
(SAS) No. 70 report), envelopes, postage and special delivery mail. Each Fund
shall reimburse MS Services for any extraordinary expenses and the expenses of
one or more independent pricing services, approved from time to time by the
Board of Directors of a Fund, to obtain securities prices in connection with
determining the net asset value of the Fund. The Fund will reimburse MS Services
for its share of the cost of such services based upon its actual use of the
services.
7. MS Services will use its best efforts in the performance of
administrative activities on behalf of each Fund, but in the absence of willful
misfeasance, bad faith, gross negligence or reckless disregard of its
obligations hereunder, MS Services shall not be liable to the Fund or any of its
investors for any error of judgment or mistake of law or for any act or omission
by MS Services or for any losses sustained by the Fund or its investors.
8. It is understood that any of the shareholders, Directors/Trustees,
officers and employees of the Fund may be a shareholder, director, officer or
employee of, or be otherwise interested in, MS Services, and in any person
controlling, controlled by or under common control with MS Services, and that MS
Services and any person controlling, controlled by or under common control with
MS Services may have an interest in the Fund. It is also understood that MS
Services and any affiliated persons thereof or any persons controlling,
controlled by or under common control with MS Services have and may have
advisory, management, administration service or other contracts with other
organizations and persons, and may have other interests and businesses, and
further may purchase, sell or trade any securities or commodities for their own
accounts or for the account of others for whom they may be acting.
9. This Agreement shall continue unless terminated by either party by
written notice delivered to the other party within 30 days. In the event that
the Amended and Restated Investment Advisory Agreement between any Fund and the
Investment Adviser is terminated, this Agreement will automatically terminate
with respect to such Fund.
10. This Agreement may be amended or modified by the parties in any manner
by written agreement executed by each of the parties hereto.
11. This Agreement may be assigned by either party with the written consent
of the other party.
12. This Agreement shall be construed and interpreted in accordance with
the laws of the State of New York.
- 3 -
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement, as amended, on April 24, 2008 in CityplaceNew York, StateNew York.
ON BEHALF OF EACH FUND AS SET FORTH IN
SCHEDULE A
By: /s/ ▇▇▇ ▇. Doberman
------------------------------------
▇▇▇ ▇. Doberman
Vice President
Attest:
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
-----------------
▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ SERVICES COMPANY INC.
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Yu
-----------------------------------
▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Yu
Managing Director
Attest:
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇
SCHEDULE A
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FUNDS
AT JANUARY 15, 2009
OPEN-END FUNDS
1. Active Assets California Tax-Free Trust
2. Active Assets Government Securities Trust
3. Active Assets Institutional Government Securities Trust
4. Active Assets Institutional Money Trust
5. Active Assets Money Trust
6. Active Assets Tax-Free Trust
7. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Fund
8. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free Daily Income Trust
9. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free Income Fund
10. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital Opportunities Trust
11. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Convertible Securities Trust
12. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Series Funds:
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Alternative Opportunities Fund
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Commodities Alpha Fund
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Commodities Alpha Fund (Cayman) Ltd.
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Multi-Cap Alpha Fund
13. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Dividend Growth Securities Inc.
14. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Equally-Weighted S&P Index Fund
15. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ European Equity Fund Inc.
16. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Flexible Income Trust
17. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Focus Growth Fund
18. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Fundamental Value Fund
Sch.A-1
19. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FX Series Fund:
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FX Alpha Plus Strategy Portfolio
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FX Alpha Strategy Portfolio
20. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Advantage Fund
21. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Dividend Growth Securities
22. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Infrastructure Fund
23. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Health Sciences Trust
24. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Securities Inc.
25. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Trust
26. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Fund
27. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Value Equity Fund
28. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration Fund
29. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration U.S. Government Trust
30. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Term Municipal Trust
31. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Liquid Asset Fund Inc.
32. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mid Cap Growth Fund
33. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mid-Cap Value Fund
34. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mortgage Securities Trust
35. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Natural Resource Development Securities Inc.
36. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Municipal Money Market Trust
37. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Tax-Free Income Fund
38. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Pacific Growth Fund Inc.
39. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Real Estate Fund
40. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions Investment Series
(i) Balanced Portfolio
(ii) Capital Growth Portfolio
Sch.A-2
(iii) Capital Opportunities Portfolio
(iv) Dividend Growth Portfolio
(v) Equally-Weighted S&P 500 Portfolio
(vi) Flexible Income Portfolio
(vii) Focus Growth Portfolio
(viii) Global Equity Portfolio
(ix) Global Infrastructure Portfolio
(x) Mid Cap Growth Portfolio
(xi) Money Market Portfolio
41. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Small-Mid Special Value Fund
42. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Growth Fund
43. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Value Fund
44. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Strategist Fund
45. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ S&P 500 Index Fund
46. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Exempt Securities Trust
47. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Free Daily Income Trust
48. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Technology Fund
49. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government Money Market Trust
50. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government Securities Trust
51. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Value Fund
52. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment Series
(i) Aggressive Equity Portfolio
(ii) Capital Opportunities Portfolio
(iii) Dividend Growth Portfolio
(iv) European Equity Portfolio
(v) Global Advantage Portfolio
Sch.A-3
(vi) Global Dividend Growth Portfolio
(vii) Global Infrastructure Portfolio
(viii) High Yield Portfolio
(ix) Income Builder Portfolio
(x) Income Plus Portfolio
(xi) Limited Duration Portfolio
(xii) Money Market Portfolio
(xiii) S&P 500 Index Portfolio
(xiv) Strategist Portfolio
CLOSED-END FUNDS
53. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Insured Municipal Income Trust
54. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Quality Municipal Securities
55. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Securities Inc.
56. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured California Municipal Securities
57. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Bond Trust
58. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Income Trust
59. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Securities
60. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Trust
61. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Income Opportunities Trust
62. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Income Opportunities Trust II
63. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Income Opportunities Trust III
64. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Premium Income Trust
65. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Quality Municipal Securities
66. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Income Trust
67. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Investment Trust
68. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Securities
Sch.A-4
SCHEDULE B
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ SERVICES COMPANY INC.
SCHEDULE OF ADMINISTRATIVE FEES
Monthly compensation calculated daily by applying the following annual
rates to a fund's daily net assets. The fees set forth herein are subject to the
waivers and/or limitations for certain of the Funds described in Schedule A of
the Investment Advisory Agreement:
FIXED INCOME FUNDS 0.080% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free Income Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Convertible Securities Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Flexible Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Securities Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Term Municipal Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mortgage Securities Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Tax-Free Income Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions Investment Series:
- Flexible Income Portfolio
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Series Fund:
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Commodities Alpha Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Exempt Securities Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government Securities Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment Series--
- High Yield Portfolio
- Income Plus Portfolio
- Limited Duration Portfolio
Sch.B-1
EQUITY FUNDS 0.080% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital Opportunities Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Dividend Growth Securities Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Equally-Weighted S&P 500 Index Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ European Equity Fund Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Focus Growth Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Fundamental Value Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FX Series Funds:
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FX Alpha Plus Strategy Portfolio
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FX Alpha Strategy Portfolio
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Advantage Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Dividend Growth Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Infrastructure Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Health Sciences Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Value Equity Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mid Cap Growth Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mid-Cap Value Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Natural Resource Development Securities Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Pacific Growth Fund Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Real Estate Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ S&P 500 Index Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions Investment Series:
Sch.B-2
- Balanced Portfolio
- Capital Growth Portfolio
- Capital Opportunities Portfolio
- Dividend Growth Portfolio
- Equally-Weighted S&P 500 Index Portfolio
- Focus Growth Portfolio
- Global Equity Portfolio
- Global Infrastructure Portfolio
- Mid Cap Growth Portfolio
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Series Funds:
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Alternative Opportunities Fund
- ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Multi Cap Alpha Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Small-Mid Special Value Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Growth Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Value Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Strategist Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Technology Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Value Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment Series--
- Aggressive Equity Portfolio
- Dividend Growth Portfolio
- European Equity Portfolio
- Global Advantage Portfolio
- Global Dividend Growth Portfolio
- Global Infrastructure Portfolio
- Income Builder Portfolio
Sch.B-3
- S&P 500 Index Portfolio
- Strategist Portfolio
MONEY MARKET FUNDS 0.050% of the daily net assets.
Active Assets Trusts:
(1) Active Assets California Tax-Free Trust
(2) Active Assets Government Securities Trust
(3) Active Assets Institutional Government Securities Trust
(4) Active Assets Institutional Money Trust
(5) Active Assets Money Trust
(6) Active Assets Tax-Free Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free Daily Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Liquid Asset Fund Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Municipal Money Market Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions Investment Series --
- Money Market Portfolio
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Free Daily Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government Money Market Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment Series --
- Money Market Portfolio
Monthly compensation calculated weekly by
applying the following annual rates to a fund's
weekly net assets:
CLOSED-END FUNDS 0.080% of the average weekly
net assets (including an
amount up to the aggregate
amount of any other
borrowings).
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Insured Municipal Income Trust
Sch.B-4
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Quality Municipal Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Securities Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured California Municipal Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Bond Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Income Opportunities Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Income Opportunities Trust II
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Income Opportunities Trust III
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Premium Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Quality Municipal Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Investment Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Securities
Sch.B-5
