Exhibit a.36
THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 35 TO
MASTER TRUST AGREEMENT
This Amendment No. 35 to the Master Trust Agreement of The Xxxxxx & Rygel
Investment Group, dated January 22, 1992, as amended (the "Agreement"), is made
as of February 28, 2007.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated seventeen sub-trusts known as the Xxxxxx Limited
Maturity Fund, Xxxxxx Short Bond Fund, Xxxxxx U.S. Government Fund, Xxxxxx GNMA
Fund, Xxxxxx Core Bond Fund, Xxxxxx Opportunity Bond Fund, Xxxxxx High Income
Fund, Bunker Hill Money Market Fund, Xxxxxx Tax Exempt Bond Fund, Xxxxxx
California Municipal Income Fund, Xxxxxx Growth & Income Fund, Xxxxxx Market
Return Fund, Xxxxxx U.S. Growth Leaders Fund, Xxxxxx Small Cap Leaders Fund,
Xxxxxx Global Short Bond Fund, Xxxxxx Global Fixed Income Fund and Xxxxxx
Emerging Markets Bond 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, effective February 28, 2007, the Trustees hereby desire to change
the name of the "Bunker Hill Money Market Fund" to the "Payden Cash Reserves
Money Market Fund;" and
WHEREAS, effective March 30, 2007, the Trustees hereby desire to liquidate
the Xxxxxx Small Cap Leaders Fund;
NOW THEREFORE:
1. Effective February 28, 2007, the first paragraph of Section 4.2 of the
Agreement is hereby amended to read in pertinent part as follow:
"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
seventeen Sub-trusts and classes thereof: Xxxxxx Limited Maturity Fund, which
shall consist of one class of shares designated as "Investor Class" shares;
Xxxxxx Short Bond Fund, which shall consist of one class of shares designated as
"Investor Class" shares; Xxxxxx U.S. Government Fund, which shall consist of one
class of shares designated as "Investor
Class" shares; Xxxxxx Core Bond Fund, which shall consist of one class of shares
designated as "Investor Class" shares; Xxxxxx Opportunity Bond Fund, which shall
consist of one class of shares designated as "Investor Class" shares; Xxxxxx
GNMA Fund, which shall consist of one class of shares designated as "Investor
Class" shares; Xxxxxx High Income Fund, which shall consist of one class of
shares designated as "Investor Class" shares; Payden Cash Reserves Money Market
Fund, which shall consist of two classes of shares designated as "Investor
Class" and "Class D" shares; Xxxxxx Tax Exempt Bond Fund, which shall consist of
one class of shares designated as "Investor Class" shares; Xxxxxx California
Municipal Income Fund, which shall consist of one class of shares designated as
"Investor Class" shares; Xxxxxx Value Leaders Fund, which shall consist of one
class of shares designated as "Investor Class" shares; Xxxxxx Market Return
Fund, which shall consist of one class of shares designated as "Investor Class"
shares; Xxxxxx U.S. Growth Leaders Fund, which shall consist of one class of
shares designated as "Investor Class" shares; Xxxxxx Small Cap Leaders Fund,
which shall consist of one class of shares designated as "Investor Class"
shares; Xxxxxx Global Short Bond Fund, which shall consist of one class of
shares designated as "Investor Class" shares; Xxxxxx Global Fixed Income Fund,
which shall consist of one class of shares designated as "Investor Class"
shares; and Xxxxxx Emerging Markets Bond Fund, which shall consist of one class
of shares designated as "Investor Class" 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:".
2. Effective March 31, 2007, the first paragraph of Section 4.2 of the
Agreement is hereby amended to read in pertinent part as follow:
"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
sixteen Sub-trusts and classes thereof: Xxxxxx Limited Maturity Fund, which
shall consist of one class of shares designated as "Investor Class" shares;
Xxxxxx Short Bond Fund, which shall consist of one class of shares designated as
"Investor Class" shares; Xxxxxx U.S. Government Fund, which shall consist of one
class of shares designated as "Investor Class" shares; Xxxxxx Core Bond Fund,
which shall consist of one class of shares designated as "Investor Class"
shares;
Xxxxxx Opportunity Bond Fund, which shall consist of one class of shares
designated as "Investor Class" shares; Xxxxxx GNMA Fund, which shall consist of
one class of shares designated as "Investor Class" shares; Xxxxxx High Income
Fund, which shall consist of one class of shares designated as "Investor Class"
shares; Payden Cash Reserves Money Market Fund, which shall consist of two
classes of shares designated as "Investor Class" and "Class D" shares; Xxxxxx
Tax Exempt Bond Fund, which shall consist of one class of shares designated as
"Investor Class" shares; Xxxxxx California Municipal Income Fund, which shall
consist of one class of shares designated as "Investor Class" shares; Xxxxxx
Value Leaders Fund, which shall consist of one class of shares designated as
"Investor Class" shares; Xxxxxx Market Return Fund, which shall consist of one
class of shares designated as "Investor Class" shares; Xxxxxx U.S. Growth
Leaders Fund, which shall consist of one class of shares designated as "Investor
Class" shares; Xxxxxx Global Short Bond Fund, which shall consist of one class
of shares designated as "Investor Class" shares; Xxxxxx Global Fixed Income
Fund, which shall consist of one class of shares designated as "Investor Class"
shares; and Xxxxxx Emerging Markets Bond Fund, which shall consist of one class
of shares designated as "Investor Class" 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 Xxxxxxxxxxx X. Xxxxxxxx
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X. X. Xxxxxx, Xx. Xxxxxx X. Xxxxxxx
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X. Xxxxxxxx La Force Xxxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxx, M.D. Xxxx Xxxx Xxxx
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Xxxxxx X. XxXxxxxx, Xx.
