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THE XXXXXX & RYGEL INVESTMENT GROUP
AMENDMENT NO. 18 TO
MASTER TRUST AGREEMENT
This Amendment No. 18 to the Master Trust Agreement of The Xxxxxx &
Rygel Investment Group dated January 22, 1992, as amended (the "Agreement"), is
made as of November 30, 1998.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated nineteen sub-trusts known as the Xxxxxx & Rygel
Global Fixed Income 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, the Xxxxxx & Rygel Limited Maturity Fund,
the Xxxxxx & Rygel Short Duration Tax Exempt Fund, the Xxxxxx & Rygel U.S.
Government 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, the Xxxxxx & Rygel High Income Fund, the Xxxxxx & Rygel Value Stock Fund,
the Xxxxxx & Rygel Growth Stock Fund, and the Bunker Hill 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 liquidate, and have authorized
the liquidation of, the Xxxxxx & Rygel Intermediate Bond Fund, effective the day
and year first above written;
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
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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 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 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 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
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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 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.
