Exhibit 99.(h)(5)
AMENDMENT NUMBER 1
TO
PRICING, BOOKKEEPING AND FUND ADMINISTRATION AGREEMENT
This Amendment Number 1 to the Pricing, Bookkeeping and Fund Administration
Agreement is entered into this 1st day of November, 2003 between each investment
company listed on Appendix I hereto (as the same may from time to time be
amended to add one or more additional investment companies advised by an
affiliate of Columbia Management Group, Inc. ("CMG") or to delete one or more of
such investment companies acting severally on its own behalf and not jointly
with any such other investment companies (each of such investment companies
being hereinafter referred to as the "Fund" and collectively as the "Funds"),
and Columbia Management Advisors, Inc., successor by merger to Colonial
Management Associates, Inc., an Oregon corporation ("CMA"). Each Fund may have
multiple classes of shares.
BACKGROUND
1. On July 1, 2002, Colonial Management Associates, Inc. ("Colonial") and the
Funds entered into a Pricing, Bookkeeping and Fund Administration Agreement (the
"Agreement").
2. On April 1, 2003 Colonial was merged into Columbia Management Advisors,
Inc. ("CMA") at which time CMA assumed all the rights and obligations of
Colonial pursuant to the Agreement.
3. CMA and the Funds desire to amend the Agreement by revising the
compensation schedule set forth in Appendix II of the Agreement by making
payments under this Agreement equal to the amount that State Street charges CMA
for fund accounting and financial reporting services provided by State Street
relating to the Funds.
In consideration of the mutual promises and covenants set forth herein, the
parties hereto agree as follows:
AGREEMENT
1. Appendix II to the Agreement is deleted and in its place shall be inserted
the Appendix II as attached hereto to the Amendment. Notwithstanding Appendix
II, no fees shall be paid by any of the CMG Funds to CMA for services provided
pursuant to this Agreement.
2. The effective date of this Amendment shall be November 1, 2003.
3. In all other respects, the Agreement shall remain in full force and effect.
In WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed as of the date first above written.
THE FUNDS LISTED ON APPENDIX I
XXXXXX X. XXXXXXX
-----------------------------------
By: Xxxxxx X. Xxxxxxx
Title: President
COLUMBIA MANAGEMENT ADVISORS, INC.
XXXXX X. XXXXX
-----------------------------------
By: Xxxxx X. Xxxxx
Title: Chief Executive Officer
APPENDIX I
COLUMBIA FUNDS:
EQUITY
Columbia Common Stock Fund, Inc.
Columbia Growth Fund, Inc.
Columbia Special Fund, Inc.
Columbia Small Cap Fund, Inc.
Columbia Real Estate Equity Fund, Inc.
Columbia International Fund, Inc.
Columbia Technology Fund, Inc.
Columbia Strategic Value Fund, Inc.
Columbia Balanced Fund, Inc.
CMG Small Cap Fund
CMG Small Cap Growth Fund
CMG Small Cap Value Fund
CMG Small/Mid Cap Fund
CMG Mid Cap Growth Fund
CMG Mid Cap Value Fund
CMG Large Cap Growth Fund
CMG Large Cap Value Fund
CMG Enhanced S&P 500(R) Fund
CMG Emerging Markets Equity Fund
CMG International Stock Fund
CMG Strategic Equity Fund
MONEY MARKET
Columbia Daily Income Company
FIXED INCOME
Columbia Fixed Income Company, Inc.
Columbia Short Term Bond Fund, Inc.
Columbia High Yield Fund, Inc.
Columbia Oregon Municipal Bond Fund, Inc.
Columbia National Municipal Bond Fund, Inc.
CMG High Yield Fund
CMG Fixed Income Securities Fund
CMG Short Term Bond Fund
CMG International Bond Fund
CMG Core Plus Bond Fund
CMG Mortgage and Asset-Backed Securities Fund
CMG Corporate Bond Fund
CMG Government Bond Fund
APPENDIX II
ANNUAL FEE
TYPE OF FEE ANNUAL CHARGE BILLED AND PAYABLE MONTHLY
----------- ----------------------------------------
*Fund Accounting $25,000 per fund plus 2 Basis Points
Financial Reporting $19,565 per fund
Combined Maximum Fee $150,000 per fund
Feeders $27,000 per feeder
Multi Managed $6,000 per additional manager
(for new managers after 8/1/2002)
*Fund of Fund $25,000 per fund (custody and accounting)
VALUATION FEE
For billing purposes, the monthly quote charge will be billed at cost if
contracts are directly with State Street. If contracts are with vendors, CMG
will pay directly.
SOURCE:
Municipal Bonds via Xxxxx/IDC
Corporate, Municipal, Convertible, Government Bonds
and Adjustable Rate Preferred Stocks via IDC/Xxxxx
Government, Corporate Bonds via Xxxxx/IDC
Government, Corporate and Convertible Bonds via
Foreign Bonds via IDC
Options, Futures and Private Placements
Listed Equities including International and OTC Equities via Reuters
SPECIAL SERVICES
Fees for activities of a non-recurring nature such as fund consolidations or
reorganizations, extraordinary security shipments and the preparation of special
reports will be subject to negotiation.
OUT OF POCKET EXPENSES
A billing for the recovery of applicable out-of-pocket expenses will be made as
of the end of each month. Out-of-pocket expenses include, but are not limited to
the following:
- Communications costs (telephone, lease lines, etc.)
- Postage and insurance
- Courier service
- Non-recurring legal fees
- Third-party internal control review letter
- SWIFT charges
- 17f-5 review
- Record Retention
- Printing of shareholder reports and SEC filings
