Exhibit
(h)(5)(f)
AMENDED AND RESTATED
EXPENSE LIMITATION AGREEMENT
THIS
AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT, is hereby made as of August 31, 2020, between The
MainStay Funds and MainStay Funds Trust (each a "Trust" and collectively, the "Trusts"), on behalf of
each series of the Trusts as set forth on Schedule A (each a "Fund" and collectively, "Funds"), and New
York Life Investment Management LLC (the "Manager") ("Agreement").
WHEREAS,
the Manager has been appointed the manager of each of the Funds pursuant to an Agreement between each
Trust, on behalf of the Funds, and the Manager; and
WHEREAS, each Trust and
the Manager desire to enter into the arrangements described herein relating to certain expenses of the
Funds;
NOW, THEREFORE, each Trust and the Manager hereby agree as follows:
1. The Manager hereby
agrees to waive fees and/or reimburse Fund expenses (excluding taxes, interest, litigation, extraordinary
expenses, brokerage and other transaction expenses relating to the purchase or sale of portfolio investments,
and acquired (underlying) fund fees and expenses), to the extent necessary to maintain Total Annual Operating
Expenses specified for the class of shares of each Fund listed on Schedule A through August 31, 2021,
except as provided below.
2. The
waivers and/or reimbursements described in Section 1 above are not subject to recoupment by the Manager.
3. The Manager understand
and intends that the Funds will rely on this Agreement (1) in preparing and filing amendments to the
registration statements for the Trusts on Form N-1A with the Securities and Exchange Commission, (2)
in accruing each Fund's expenses for purposes of calculating its net asset value per share and (3) for
certain other purposes and expressly permits the Funds to do so.
4. This agreement shall renew automatically for one-year terms unless
the Manager provides written notice of termination prior to the start of the next term or upon approval
of the Board of Trustees of the Fund.
IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.
| | | |
MAINSTAY FUNDS TRUST |
| | |
By: | /s/
Xxxx X. Xxxxxxxxxx |
Name: | Xxxx X. Xxxxxxxxxx |
Title: | Treasurer and Principal Financial and |
| | Accounting Officer |
| | |
THE MAINSTAY FUNDS | |
| | |
By: | /s/
Xxxx X. Xxxxxxxxxx |
Name: | Xxxx X. Xxxxxxxxxx |
Title: | Treasurer and Principal Financial |
| | and Accounting Officer |
| | |
NEW YORK LIFE INVESTMENT MANAGEMENT LLC | |
| | |
By: | /s/ Xxxx X. Xxxxxxx |
Name: | Xxxx
X. Xxxxxxx |
Title: | Senior
Managing Director and Chief Operating Officer |
| | |
SCHEDULE A
| | |
FUND | Total Annual Operating Expense
Limit (as a percent of average daily net assets) |
ALL FUNDS (except
MainStay CBRE Global Infrastructure Fund, MainStay CBRE Real Estate Fund, MainStay Epoch Global Equity
Yield Fund, MainStay MacKay Intermediate Tax Free Bond Fund, MainStay MacKay International Equity Fund
and MainStay MacKay U.S. Infrastructure Bond Fund) CLASS R6 SHARES | New York Life Investments
has contractually agreed to waive fees and/or reimburse expenses so that Total Annual Fund Operating
Expenses (excluding taxes, interest, litigation, extraordinary expenses, brokerage and other transaction
expenses relating to the purchase or sale of portfolio investments, and acquired (underlying) fund fees
and expenses) of Class R6 do not exceed those of Class I. |
MainStay Candriam Emerging Markets Equity Fund | Class A: 1.50%
Class C: The Manager will
apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class
I:
1.15%
Investor Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
SIMPLE Class: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares..
|
MainStay Candriam Emerging Markets Debt Fund | Class A:
1.17%
Class
B: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points
waived for Class A Shares.
Class C: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I:
0.85%
Investor
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares.
SIMPLE Class: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares. |
MainStay CBRE Global Infrastructure Fund | Expense Limitation from December
18, 2019 until February 28, 2022 Class A: 1.33%
Class C:
2.08%
Investor
Class: 1.45%
Class I: 0.97%
Class R6: 0.95%
SIMPLE Class:
1.70% |
MainStay CBRE Real Estate Fund | Expense Limitation from December 18, 2019 until
February 28, 2022 Class A: 1.18%
Class C:
1.93%
Investor
Class: 1.35%
Class I: 0.83%
Class R3: 1.43%
Class R6:
0.74%
SIMPLE
Class: 1.60% |
| | |
FUND | Total
Annual Operating Expense Limit (as a percent of average daily net assets) |
MainStay Conservative Allocation Fund | Class A: 0.50%
Class B:
1.30%
Class
C: 1.30%
Class I: 0.25%
Investor Class: 0.55%
Class
R1: 0.35%
Class R2: 0.60%
Class R3: 0.85%
SIMPLE Class:
0.80% |
MainStay Conservative ETF Allocation Fund | Expense Limitation from June
30, 2020 until February 28, 2022 Class A: 0.80%
Class C:
1.55%
Class I: 0.55%
Class R3: 1.15%
SIMPLE
Class: 1.05% |
MainStay Defensive ETF Allocation Fund | Expense Limitation from June
30, 2020 until February 28, 2022 Class A: 0.80%
Class C:
1.55%
Class I: 0.55%
Class R3: 1.15%
SIMPLE Class:
1.05% |
MainStay Epoch Capital Growth Fund | Class A: 1.15%
Class
C:
None
Class I: 0.90%
Investor Class: None
|
MainStay Epoch Global Equity Yield Fund | Class A: 1.09%
Class C:
1.84%
Class I: 0.84%
Class R6: 0.74% |
MainStay Epoch International Choice Fund | Class I:
0.95% |
MainStay Epoch U.S. Equity Yield Fund | Class I:
0.73% |
MainStay Equity Allocation Fund | Class A:
0.50%
Class
B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor Class:
0.55%
Class
R1: 0.35%
Class R2: 0.60%
Class R3: 0.85%
SIMPLE Class:
0.80% |
| | |
FUND | Total
Annual Operating Expense Limit (as a percent of average daily net assets) |
MainStay Equity ETF Allocation Fund | Expense Limitation from June 30, 2020 until February 28, 2022 Class A: 0.80%
Class C: 1.55%
Class I:
0.55%
Class
R3: 1.15%
SIMPLE Class: 1.05% |
MainStay Growth Allocation Fund | Class A: 0.50%
Class B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor
Class:
0.55%
Class R1: 0.35%
Class R2: 0.60%
Class R3: 0.85%
SIMPLE Class: 0.80%
|
MainStay Growth ETF Allocation Fund | Expense Limitation from June
30, 2020 until February 28, 2022 Class A: 0.80%
Class C:
1.55%
Class I: 0.55%
Class R3: 1.15%
SIMPLE
Class: 1.05% |
MainStay Xxxxxxx Large Cap Growth Fund | Class I:
0.88% |
MainStay MacKay California Tax Free Opportunities
Fund: | Class
A: 0.75%
Class C: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class C2: The Manager will
apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class
I: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points
waived for Class A Shares.
Investor Class: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
SIMPLE Class:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares. |
MainStay MacKay Convertible Fund | Class I:
0.61% |
MainStay MacKay Growth Fund | Class I: 1.09% |
| | |
FUND | Total
Annual Operating Expense Limit (as a percent of average daily net assets) |
MainStay MacKay High Yield Municipal Bond Fund | Class A: 0.875%
Class C:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class I: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Investor Class: The Manager
will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class
A Shares.
SIMPLE Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares. |
MainStay MacKay Intermediate Tax Free Bond Fund | Expense Limitation until August 31, 2021: Class
A: 0.77%
Class C: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class I: The Manager will apply
an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares.
Class R6: 0.50%
SIMPLE Class:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares. |
MainStay MacKay International Equity Fund | Class A:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class R6 Shares.
Class B: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class R6 Shares.
Class C: The Manager will apply
an equivalent waiver or reimbursement, in an equal number of basis points waived for Class R6 Shares.
Class
I: 0.85%.
Investor Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class R6 Shares.
Class R1: The Manager will
apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class R6 Shares.
Class
R2: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class R6 Shares.
Class R3: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class R6 Shares.
Class R6:
0.83%
SIMPLE
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares. |
MainStay MacKay International
Opportunities Fund | Class
A: 1.85%
Class C: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class I: The Manager will apply
an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares.
SIMPLE Class: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares. |
| | |
FUND | Total
Annual Operating Expense Limit (as a percent of average daily net assets) |
MainStay MacKay New York Tax Free Opportunities Fund | Class A: 0.75%
Class C:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
in an equal number of basis points waived for Class A Shares.
Class C2:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class I: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Investor Class: The Manager
will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class
A Shares.
SIMPLE Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares. |
MainStay MacKay S&P 500 Index Fund | Class A: 0.60%
Class I:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Investor Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
SIMPLE Class: The Manager will
apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares. |
MainStay MacKay Short Duration High Yield Fund | Class A:
1.05%
Class
C: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points
waived for Class A Shares.
Class I: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class R2: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class R3: The Manager will
apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
SIMPLE
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares. |
MainStay MacKay Short Term
Municipal Fund | Expense Limitation
until August 31, 2021: Class A: 0.70%
Class I:
0.40%
Investor
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares.
SIMPLE Class: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares. |
MainStay MacKay Tax Free Bond Fund | Class A:
0.82%
Class
B: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points
waived for Class A Shares.
Class C: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class C2:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class I: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Investor Class: The Manager
will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class
A Shares.
SIMPLE Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares. |
| | |
FUND | Total
Annual Operating Expense Limit (as a percent of average daily net assets) |
MainStay MacKay Total Return Bond Fund | Class A: 0.88%
Class B:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class C: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class I: 0.60%
Investor Class:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class R1: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class R2: The Manager will
apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class
R3: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares.
SIMPLE Class: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares. |
MainStay MacKay U.S. Equity Opportunities Fund
| Class A:
1.50%
Class
C: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points
waived for Class A Shares.
Class I: The Manager will apply an equivalent
waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
SIMPLE Class: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares. |
MainStay MacKay U.S. Infrastructure Bond Fund | Class A: 0.85%
Class B:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares.
Class C: The Manager will apply an equivalent waiver or reimbursement,
in an equal number of basis points waived for Class A Shares.
Class I: The Manager will apply
an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor
Class: The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis
points waived for Class A Shares.
Class R6: 0.53%
SIMPLE Class:
The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived
for Class A Shares. |
MainStay Moderate Allocation Fund | Class A:
0.50%
Class
B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor Class:
0.55%
Class
R1: 0.35%
Class R2: 0.60%
Class R3: 0.85%
SIMPLE Class:
0.80% |
MainStay Moderate ETF Allocation Fund | Expense Limitation from June
30, 2020 until February 28, 2022 Class A: 0.80%
Class C:
1.55%
Class I: 0.55%
Class R3: 1.15%
SIMPLE
Class: 1.05% |
| | |
FUND | Total
Annual Operating Expense Limit (as a percent of average daily net assets) |
MainStay Money Market Fund | Class A: 0.70%
Class B:
0.80%
Class
C: 0.80%
Investor Class: 0.80%
SIMPLE Class: 0.80% |
MainStay Short Term Bond Fund | Class A: 0.82%
Class I:
0.40%
Investor
Class: 0.92%
SIMPLE Class: 1.17% |
