THE PAYDEN & RYGEL INVESTMENT GROUP
THE XXXXXX & RYGEL INVESTMENT GROUP
000 Xxxxx Xxxxx Xxxxxx, 00xx Floor
Los Angeles, California 90071
June , 2014
Xxxxxx & Rygel
000 Xxxxx Xxxxx Xxxxxx, 00xx Floor
Los Angeles, California 90071
Ladies and Gentlemen:
We wish to retain Xxxxxx & Xxxxx to act as investment adviser to our newly created Xxxxxx Absolute Return Bond Fund series. Accordingly, this will confirm our agreement to amend Exhibit A to the Investment Management Agreement between us, dated June 24, 1992, as heretofore amended, by adding the following paragraph with respect to the above-referenced series:
Xxxxxx Absolute Return Bond Fund Series
Annual Advisory Fee (as a percentage of average daily net assets) – 0.50%.
In all other respects, the Investment Management Agreement between us, as heretofore amended, will remain unchanged. Please sign this letter below to confirm your agreement to this amendment.
| Very truly yours, | ||
| By: |
| |
| Xxxxxx X. Xxxxxxx | ||
| Secretary | ||
AGREED:
| XXXXXX & RYGEL | ||
| By: |
| |
| Xxxxxx X. Xxxxxxx | ||
| Secretary | ||
