EQ ADVISORS TRUST AMENDMENT NO. 1 TO THE INVESTMENT SUB-ADVISORY AGREEMENT
Exhibit (d)(18)(ii)
AMENDMENT NO. 1 TO THE
INVESTMENT SUB-ADVISORY AGREEMENT
AMENDMENT NO. 1 to the Investment Sub-Advisory Agreement effective as of May 1, 2021 (“Amendment No. 1”) between Equitable Management Group, LLC, a Delaware limited liability company (“EIM” or “Adviser”) and Invesco Advisers, Inc., a Delaware corporation (“Invesco” or “Sub-Adviser”).
EIM and Invesco agree to modify the Investment Sub-Advisory Agreement dated as of July 16, 2020 (“Agreement”) as follows:
1. | Name Change. The name of EQ/Invesco Global Real Estate Portfolio is changed to EQ/Invesco Global Real Assets Portfolio. |
2. | Appendix A. Appendix A to the Agreement setting forth the Portfolios of the Trust for which Invesco is appointed as the Sub-Adviser and the fee payable to the Sub-Adviser with respect to the Portfolios is hereby replaced in its entirety by Appendix A attached hereto. |
3. | Ratification. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms. |
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first set forth above.
EQUITABLE INVESTMENT MANAGEMENT GROUP, LLC |
INVESCO ADVISERS, INC. | |||||
By: | /s/ Xxxxxxx Xxxxxxxxx |
By: | /s/ Xxxxxx Xxxxxxxxx | |||
Xxxxxxx Xxxxxxxxx Director, Executive Vice President and Chief Investment Officer |
Name: Xxxxxx Xxxxxxxxx Title: Vice President |
APPENDIX A
TO
AMENDMENT NO. 1 TO THE
INVESTMENT SUB-ADVISORY AGREEMENT WITH
INVESCO ADVISERS, INC.
The Adviser shall pay the Sub-Adviser monthly compensation computed daily at an annual rate equal to the following:
Related Portfolio(s) |
Annual Sub-Advisory Fee Rate*** | |
Allocation Portfolios, which shall consist of the EQ/Invesco Moderate Allocation Portfolio and Other Portfolios identified directly below (collectively referred to as “Allocation Portfolios”):
EQ/Invesco Moderate Growth Allocation**
|
0.25% of the Allocation Portion Portfolios’ average daily net assets up to and including $1 billion; and 0.23% of the Allocation Portfolios’ average daily net assets in excess of $1 billion. | |
Global Portfolios, which shall consist of the EQ/Invesco Global Portfolio and Other Portfolios identified directly below (collectively referred to as “Global Portfolios”):
EQ/Global Equity Managed Volatility Portfolio*,** |
0.45% of Global Portfolios’ average daily net assets up to and including $50 million; and 0.40% of the Global Portfolios’ average daily net assets over $50 million. |
Portfolio |
Annual Sub-Advisory Fee Rate*** | |
EQ/Invesco Xxxxxxxx Portfolio | 0.40% of the Portfolio’s average daily net assets up to and including $250 million; 0.375% of the Portfolio’s average daily net assets over $250 million and up to and including $500 million; 0.35% of the Portfolio’s average daily net assets over $500 million and up to and including $1 billion; and 0.275% of the Portfolio’s average daily net assets in excess of $1 billion. | |
EQ/Invesco Global Real Assets Portfolio (formerly, EQ/Invesco Global Real Estate Portfolio) |
0.45% of the Portfolio’s average daily net assets. | |
EQ/Invesco International Growth Portfolio | 0.45% of the Portfolio’s average daily net assets up to and including $150 million; 0.40% of the Portfolio’s average daily net assets over $150 million and up to and including $300 million; 0.375% of the Portfolio’s average daily net assets over $300 million and up to and including $600 million; and 0.35% of the Portfolio’s average daily net assets in excess of $600 million. |
* | Fee to be paid with respect to this Portfolio shall be based only on the portion of the Portfolio’s average daily net assets advised by the Sub-Adviser, which may be referred to as the “Sub-Adviser Allocation Portion.” |
** | Other Portfolios are other investment companies (or series or portions thereof) that are managed by the Adviser and advised by the Sub-Adviser, which are classified as “Allocation Portfolios” or “Global Portfolios”. |
*** | The daily sub-advisory fee for the Portfolio/Sub-Adviser Allocation Portion is calculated by multiplying the aggregate net assets of the Portfolio/Sub-Adviser Allocation Portion at the close of the immediately preceding business day by the Annual Sub-Advisory Fee Rate calculated as set forth above and then dividing the result by the number of days in the year. The daily sub-advisory fee applicable to each Sub-Adviser Allocation Portion is the portion of the daily sub-advisory fee for the Sub-Adviser Allocation Portion that is equal to the /Sub-Adviser Allocation Portion’s net assets relative to the aggregate net assets of the Portfolio, including the Sub-Adviser Allocation Portion, used in the fee calculation for that day. |