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EXHIBIT 1.17
THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 16 TO
MASTER TRUST AGREEMENT
This Amendment No. 16 to the Master Trust Agreement of The Xxxxxx &
Rygel Investment Group dated January 22, 1992, as amended (the "Agreement"), is
made as of December 16, 1997.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated seventeen sub-trusts known as the Xxxxxx & Rygel
Global Fixed Income Fund, the Xxxxxx & Rygel International Bond Fund, the Xxxxxx
& Rygel Tax Exempt Bond Fund, the Xxxxxx & Rygel Short Bond Fund, the Xxxxxx &
Rygel Intermediate Bond Fund, the Xxxxxx & Rygel Investment Quality Bond Fund
(formerly known as the Xxxxxx & Rygel Opportunity Fund), the Xxxxxx & Rygel
Limited Maturity Fund, the Xxxxxx & Rygel Short Duration Tax Exempt Fund, the
Xxxxxx & Rygel U.S. Treasury Fund, the Xxxxxx & Rygel Market Return Fund, the
Xxxxxx & Rygel Growth & Income Fund, the Xxxxxx & Rygel Global Short Bond Fund,
the Xxxxxx & Rygel Total Return Fund, the Xxxxxx & Rygel International Equity
Fund, the Xxxxxx & Rygel Global Balanced Fund, the Xxxxxx & Rygel European
Growth & Income Fund, and the PRAAM Money Market 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 three
additional sub-trusts, to be known as the Xxxxxx & Rygel High Income Fund, the
Xxxxxx & Rygel Value Stock Fund and the Xxxxxx & Rygel Growth Stock Fund, and to
fix the rights and preferences of the shares of each such additional sub-trust;
and
WHEREAS, the Trustees hereby desire to rename the classes of shares for
each of the existing seventeen sub-trusts, such that with respect to (a) the
PRAAM Money Market Fund, the "Series A" shares and "Series B" shares
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are renamed the "Series R" shares and "Series D" shares, respectively, and (b)
each of the remaining sixteen sub-trusts, the "Series A" shares and "Series B"
shares are renamed the "Series R" shares and "Series S" shares, respectively;
and
WHEREAS, the Trustees hereby desire to rename the PRAAM Money Market
Fund as the Bunker Hill Money Market Fund, and to rename the Xxxxxx & Rygel U.S.
Treasury Fund as the Xxxxxx & Rygel U.S. Government Fund;
NOW THEREFORE:
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 eighteen Sub-Trusts and classes thereof: the
Xxxxxx & Rygel Global Fixed Income Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
Xxxxxx & Rygel International Bond Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
Xxxxxx & Rygel Tax Exempt Bond Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; the Xxxxxx &
Rygel Short Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Intermediate Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Investment Quality Bond Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Limited Maturity Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel Short
Duration Tax Exempt Bond Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
U.S. Government Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the
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Xxxxxx & Rygel Market Return Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Growth & Income Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel Global
Short Bond Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; the Xxxxxx & Rygel Total Return Fund,
which shall consist of two classes of shares designated as "Class R" and
"Class S" shares; the Xxxxxx & Rygel International Equity Fund, which
shall consist of two classes of shares designated as "Class R" and
"Class S" shares; the Xxxxxx & Rygel Global Balanced Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; the Xxxxxx & Rygel European Growth & Income Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; the Xxxxxx & Rygel High Income Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
Xxxxxx & Rygel Value Stock Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the Xxxxxx & Rygel
Growth Stock Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; and the Bunker Hill Money
Market Fund, which shall consist of two classes of shares designated as
"Class R" and "Class D" 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
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executed in one or more counterparts, all of which shall together constitute a
single instrument.
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Xxxx X. Xxxxxx Xxxxx X. Xxxxx
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Xxxx Xxxx Xxxxxxxx Xxxxxxxxxxx X. Xxxxxxxx
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X. Xxxxxxxx La Force Xxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx Xxxxxx X. XxXxxxxx, Xx.
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X.X. Xxxxxx, Xx.
