Execution Copy
Exhibit (h)(7)
RELIANCE AGREEMENT FOR EXCHANGE PRIVILEGES
(Anti-Money Laundering and Customer Identification Program)
AGREEMENT, entered into this 30/th/ day of September, 2003 by and among
and CDC NVEST COMPANIES TRUST I ("Companies Trust") and CDC NVEST FUNDS TRUST I,
CDC NVEST FUNDS TRUST II, CDC NVEST FUNDS TRUST III, CDC NVEST FUNDS CASH
MANAGEMENT TRUST, CDC NVEST FUNDS TAX EXEMPT MONEY MARKET TRUST (collectively
"CDC Nvest Trusts") and XXXXXX XXXXXX FUNDS I, XXXXXX XXXXXX FUNDS II
(collectively "Xxxxxx Trusts" and together with Companies Trust and CDC Nvest
Trusts, the "Funds", individually, each a "Fund").
WHEREAS, Companies Trust, each of the CDC Nvest Trusts, and each of the
Xxxxxx Trusts are separate legal entities registered under the Investment
Company Act of 1940 ("1940 Act");
WHEREAS, the Funds are authorized to issue shares in separate series,
with each such series representing interests in a separate portfolio of
securities and other assets (each such series, together with all other series
subsequently established by the Funds and, being hereinafter referred to as a
"Portfolio," and collectively as the "Portfolios" as set forth in Schedule A
attached hereto);
WHEREAS, the Funds have adopted and implemented policies and procedures
to comply with applicable rules and regulations of the Securities and Exchange
Commission, the Department of Treasury or any other governmental agency
regarding anti-money laundering ("AML") and establishment of a customer
identification program ("CIP");
WHEREAS, the Funds have implemented exchange privileges among the
Portfolios for the benefit of shareholders as set forth in the Funds'
prospectuses ("Exchange Privileges"); and
WHEREAS, the Funds, on behalf of the Portfolios, desire to memorialize
their understanding in light of the Exchange Privileges among separate legal
entities registered under the 1940 Act for furtherance of compliance with AML
and CIP rules and regulations;
NOW THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements hereinafter contained, the parties hereby agree to
amend the Agreements, pursuant to the terms thereof, as follows:
1. Definitions. As used in this Agreement, the following terms have the
following meanings:
(A) "From Fund" means any existing Fund, or Portfolio thereof, from
which a shareholder transfers or exchanges assets out of any account thereto,
pursuant to the Exchange Privileges;
(B) "To Fund" means any new Fund, or Portfolio thereof, to which a
shareholder transfers or exchanges assets to any account thereto, pursuant to
the Exchange Privileges.
2. Reliance by To Fund on From Fund. On and after October 1, 2003, upon
a shareholder using the Exchange Privileges, the To Fund shall be entitled to
rely upon the From Fund's performance of requirements and obligations under AML
and CIP in order to satisfy To Fund's own requirements and obligations of AML
and CIP.
3. Miscellaneous. This Agreement may be executed in any number of
counterparts, each of which shall be considered an original, but all of which
shall together constitute one and the same instrument. All section headings in
this Agreement are solely for convenience of reference, and do not affect the
meaning or interpretation of this Agreement. A copy of each Fund's Declaration
of Trust is on file with the Secretary of The Commonwealth of Massachusetts, and
notice is hereby given that this instrument is executed on behalf of the
Trustees of each Fund as Trustees and not individually and that the obligations
of this instrument are not binding upon any of the Trustees or Shareholders
individually, but are binding only upon the assets and property of the Fund.
IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed
in its name and on its behalf by its duly authorized representative as of the
date first above written.
CDC NVEST FUNDS TRUST I
CDC NVEST FUNDS TRUST II
CDC NVEST FUNDS TRUST III
CDC NVEST COMPANIES TRUST I
CDC NVEST FUNDS TAX EXEMPT MONEY
MARKET TRUST
CDC NVEST CASH MANAGEMENT TRUST
XXXXXX XXXXXX FUNDS II
By: /s/ Xxxx X. Xxxxxx
------------------
Name: Xxxx X. Xxxxxx
------------------------
Title: President
-----------------------
XXXXXX XXXXXX FUNDS I
2
By: /s/ Xxxx X. Xxxxxx
------------------
Name: Xxxx X. Xxxxxx
--------------------------------
Title: Executive Vice President
-------------------------------
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Schedule A*
CDC Nvest Trusts
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CDC Nvest Funds Trust I
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CDC Nvest International Equity Fund
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CDC Nvest Large Cap Growth Fund
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CDC Nvest Star Advisers Fund
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CDC Nvest Star Growth Fund
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CDC Nvest Star Small Cap Fund
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CDC Nvest Star Value Fund
--------------------------------------------------------------------------------
CDC Nvest Star International Fund
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CGM Advisor Targeted Equity Fund
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Xxxxxx Xxxxxx Core Plus Bond Fund
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Xxxxxx Xxxxxx Government Securities Fund
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Westpeak Capital Growth Fund
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CDC Nvest Funds Trust II
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Xxxxxx Associates Growth and Income Fund
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Xxxxxx Xxxxxx Massachusetts Tax Free Income Fund
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CDC Nvest Funds Trust III
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Xxxxxx Associates Focused Value Fund
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CDC Nvest Cash Management Trust
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CDC Nvest Cash Management Trust - Money Market Series
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CDC Nvest Tax Exempt Money Market Trust
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Companies Trust
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CDC Nvest Companies Trust I
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AEW Real Estate Fund
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Xxxxxx Trusts
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Xxxxxx Xxxxxx Funds I
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Xxxxxx Xxxxxx Benchmark Core Fund
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Xxxxxx Xxxxxx Bond Fund
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Xxxxxx Xxxxxx Core Plus Fixed Income Fund
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Xxxxxx Xxxxxx Fixed Income Fund
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Xxxxxx Xxxxxx Global Bond Fund
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Xxxxxx Xxxxxx Institutional High Income Fund
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Xxxxxx Xxxxxx Intermediate Duration Fixed Income Fund
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Xxxxxx Xxxxxx Investment Grade Fixed Income Fund
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Xxxxxx Xxxxxx Mid Cap Growth Fund
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Xxxxxx Xxxxxx Small Cap Value Fund
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Xxxxxx Xxxxxx Small Company Growth Fund
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Xxxxxx Xxxxxx US Government Securities Fund
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--------------------------------------------------------------------------------
Xxxxxx Xxxxxx Funds II
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Xxxxxx Xxxxxx Aggressive Growth Fund
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Xxxxxx Xxxxxx Growth Fund
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Xxxxxx Xxxxxx High Income Fund
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Xxxxxx Xxxxxx International Equity Fund
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Xxxxxx Xxxxxx Investment Grade Bond Fund
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Xxxxxx Xxxxxx Limited Term US Government Fund
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Xxxxxx Xxxxxx Municipal Income Fund
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Xxxxxx Xxxxxx Research Fund
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Xxxxxx Xxxxxx Small Cap Growth Fund
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Xxxxxx Xxxxxx Strategic Income Fund
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Xxxxxx Xxxxxx Tax-Managed Equity Fund
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Xxxxxx Xxxxxx Value Fund
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Xxxxxx Xxxxxx Worldwide Fund
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*This Schedule A will be deemed to automatically include, without any need of
amending, all present and future Funds and Portfolios distributed from time to
time by CDC IXIS Asset Management Distributors, L.P., or any affiliate thereof,
which may adopt Exchange Privileges.
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