Exhibit (a.40)
THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 39 TO
MASTER TRUST AGREEMENT
This Amendment No. 39 to the Master Trust Agreement of The Xxxxxx &
Rygel Investment Group, dated January 22, 1992, as amended (the "Agreement"), is
made as of February __, 2009.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated twenty-two 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, Payden Cash Reserves 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 Global Short Bond
Fund, Xxxxxx Global Fixed Income Fund, Xxxxxx Emerging Markets Bond Fund, Xxxxxx
Global Equity Fund, Xxxxxx/Wilshire Longevity Fund 2010+, Xxxxxx/Wilshire
Longevity Fund 2020+, Xxxxxx/Wilshire Longevity Fund 2030+, Xxxxxx/Wilshire
Longevity Fund 2040+ and Xxxxxx/Kravitz Cash Balance Plan 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, the Trustees hereby desire to establish and designate an
additional sub-trust, to be known as the Xxxxxx Investment Grade Corporate Bond
Fund, and to fix the rights and preferences of the shares of such additional
sub-trust, effective February __, 2009;
NOW THEREFORE:
1. Effective February __, 2009, 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 twenty-two 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" shares and "Class D" shares, respectively; 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;
Xxxxxx Emerging Markets Bond Fund, which shall consist of one class of shares
designated as "Investor Class" shares; Xxxxxx Global Equity Fund, which shall
consist of one class of shares designated as "Investor Class" shares; Xxxxxx
Investment Grade Corporate Bond Fund, which shall consist of one class of shares
designated as "Investor Class" shares; Xxxxxx/Wilshire Longevity Fund 2010+,
which shall consist of one class of shares designated as "Investor Class"
shares; Xxxxxx/Wilshire Longevity Fund 2020+, which shall consist of one class
of shares designated as "Investor Class" shares; Xxxxxx/Wilshire Longevity Fund
2030+, which shall consist of one class of shares designated as "Investor Class"
shares; Xxxxxx/Wilshire Longevity Fund 2040+, which shall consist of one class
of shares designated as "Investor Class" shares, and Xxxxxx/Xxxxxxx Cash Balance
Plan Fund, which shall consist of two classes of shares designated as
"Institutional Class"
shares and "Adviser Class" shares, respectively. 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 at 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.
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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. Xxxxxxxx
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Xxxxxx X. Xxxxx, M.D. Xxxxxx X. Xxxxxxx
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Xxxxxx X. XxXxxxxx Xxxxxxx X. Xxxxxxx
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Xxxxxxxxx X. Xxxxxx Xxxx Xxxx Xxxx
