THE MAINSTAY FUNDS MAINSTAY FUNDS TRUST MAINSTAY VP FUNDS TRUST AMENDMENT TO AMENDED AND RESTATED SUBADVISORY AGREEMENT
Exhibit d 2 a v
THE MAINSTAY FUNDS
MAINSTAY FUNDS TRUST
MAINSTAY VP FUNDS TRUST
AMENDMENT TO AMENDED AND RESTATED SUBADVISORY AGREEMENT
This Amendment to the Amended and Restated Subadvisory Agreement, is made as of the 28th day of February, 2019, between New York Life Investment Management LLC, a Delaware limited liability company (the “Manager”) and MacKay Xxxxxxx LLC, a Delaware limited liability company (the “Subadvisor”).
WHEREAS, the Manager and the Subadvisor are parties to the Amended and Restated Subadvisory Agreement, dated January 1, 2018, as amended (“Agreement”); and
WHEREAS, the Manager and the Subadvisor hereby wish to amend Schedule A of the Agreement to reflect revised subadvisory fees with respect to MainStay MacKay Convertible Fund and a fund name change for MainStay MacKay Government Fund to MainStay MacKay Infrastructure Bond Fund.
NOW, THEREFORE, the parties agree as follows:
| (i) | Effective February 28, 2019, Schedule A is hereby amended by deleting it in its entirety and replacing it with the Schedule attached hereto. |
[The remainder of this page has been left blank intentionally.]
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized officers and attested effective as of the date first written above.
| NEW YORK LIFE INVESTMENT MANAGEMENT LLC | ||||
| Attest: | /s/ Y. Xxxxxx Xxx | By: | /s/Yie-Xxxx Xxxx | |
| Name: | Y. Xxxxxx Xxx | Name: | Yie-Xxxx Xxxx | |
| Title: | Director and Associate General Counsel | Title: | Chief Executive Officer | |
| MACKAY XXXXXXX LLC | ||||
| Attest: | /s/ Xxxxxxx Xxxxxx | By: | /s/ Xxxxx Xxx | |
| Name: | Xxxxxxx Xxxxxx | Name: | Xxxxx Xxx | |
| Title: | Executive Managing Director | Title: | Senior Managing Director | |
| 2 |
SCHEDULE A
(As of February 28, 2019)
As compensation for services provided by Subadvisor, the Manager will pay the Subadvisor and Subadvisor agrees to accept as full compensation for all services rendered hereunder, at an annual subadvisory fee equal to the following:
| Fund / Portfolio | Annual Rate on allocated assets | |
| The MainStay Funds | ||
|
MainStay Income Builder Fund (investment sleeve)*
|
0.32% on assets up to $500 million; 0.2875% on assets from $1 billion to $5 billion; and
| |
| MainStay MacKay Common Stock Fund* | 0.275% on assets up to $500 million; 0.2625% on assets from $500 million to $1 billion; and 0.25% on assets over $1 billion | |
| MainStay MacKay Convertible Fund* | 0.30% on assets up to $500 million; 0.275% on assets from $500 million to $1 billion; 0.25% on assets over $1 billion to $2 billion; and 0.245% over $2 billion | |
| MainStay MacKay Emerging Markets Debt Fund |
0.35% on assets up to $500 million; and 0.325% on assets over $500 million
| |
| MainStay MacKay High Yield Corporate Bond Fund |
0.30% on assets up to $500 million; 0.25% on assets from $7 billion to $10 billion; and
| |
| MainStay MacKay Infrastructure Bond Fund* |
0.25% on assets up to $500 million; 0.2375% on assets from $500 million to $1 billion; and
| |
| MainStay MacKay International Equity Fund* |
0.445% on assets up to $500 million; and 0.425% on assets over $500 million | |
| MainStay MacKay Tax Free Bond Fund* | 0.225% on assets up to $500 million; 0.2125% on assets from $500 million to $1 billion; 0.20% on assets from $1 billion to $5 billion; and 0.195% on assets over $5 billion | |
| MainStay MacKay Unconstrained Bond Fund |
0.30% on assets up to $500 million; 0.275% on assets from $500 million to $1 billion; |
| Fund / Portfolio | Annual Rate on allocated assets | |
| MainStay Funds Trust | ||
| MainStay Balanced Fund (investment sleeve) |
0.35% on assets up to $1 billion; 0.325% on assets from $1 billion to $2 billion; and 0.30% on assets over $2 billion | |
| MainStay MacKay California Tax Free Opportunities Fund* |
0.25% on all assets
| |
| MainStay MacKay Emerging Markets Equity Fund* |
0.50% on assets up to $1 billion; and
| |
| MainStay MacKay Growth Fund* |
0.35% on assets up to $500 million; 0.325% on assets from $500 million to $1 billion; 0.3125% on assets from $1 billion to $2 billion; and 0.30% on assets over $2 billion | |
| MainStay MacKay High Yield Municipal Bond Fund* |
0.275% on assets up to $1 billion; 0.27% on assets from $1 billion to $3 billion; 0.265% on assets from $3 billion to $5 billion; and
| |
| MainStay MacKay International Opportunities Fund* | 0.55% on all assets | |
| MainStay MacKay New York Tax Free Opportunities Fund* | 0.25% on all assets | |
| MainStay MacKay S&P 500 Index Fund* | 0.08% on assets up to $2.5 billion; and 0.075% on assets over $2.5 billion | |
| MainStay MacKay Short Duration High Yield Fund* | 0.325% on all assets | |
| MainStay MacKay Short Term Municipal Fund* | 0.175% on all assets | |
| MainStay MacKay Total Return Bond Fund* |
0.25% up to $1 billion; 0.2375% from $1 billion to $3 billion; and 0.2325% over $3 billion
| |
| MainStay MacKay U.S. Equity Opportunities Fund* | 0.50% on assets up to $1 billion; and 0.4875% on assets over $1 billion | |
| MainStay VP Funds Trust | ||
| MainStay VP Balanced Portfolio (investment sleeve) |
0.35% on assets up to $1 billion;
| |
| MainStay VP Emerging Markets Equity Portfolio (investment sleeve)* |
0.50% on assets up to $1 billion; 0.4875% on assets over $1 billion
| |
| MainStay VP Income Builder Portfolio (investment sleeve) |
0.285% on assets up to $1 billion; and 0.275% on assets over $1 billion
| |
| MainStay XX XxxXxx Common Stock Portfolio |
0.275% on assets up to $500 million; 0.2625% on assets from $500 million to $1 billion; and 0.25% on assets over $1 billion |
| Fund / Portfolio | Annual Rate on allocated assets | |
| MainStay XX XxxXxx Convertible |
0.30% on assets up to $500 million; 0.275% on assets from $500 million to $1 billion 0.25% on assets over $1 billion
| |
| MainStay XX XxxXxx Government Portfolio |
0.25% on assets up to $500 million;
| |
| MainStay XX XxxXxx Growth Portfolio |
0.35% on assets up to $500 million; 0.325% on assets from $500 million to $1 billion; 0.3125% on assets from $1 billion to $2 billion; 0.30% on assets over $2 billion
| |
| MainStay XX XxxXxx High Yield Corporate Bond Portfolio |
0.285% on assets up to $1 billion; 0.2625% on assets over $5 billion
| |
| MainStay XX XxxXxx International Equity Portfolio |
0.445% on assets up to $500 million; and 0.425% on assets over $500 million
| |
| MainStay XX XxxXxx Mid Cap Core Portfolio* |
0.425% on assets up to $1 billion;
| |
| MainStay XX XxxXxx S&P 500 Index Portfolio* |
0.08% on assets up to $2.5 billion; and
| |
| MainStay XX XxxXxx Small Cap Core Portfolio* |
0.425% on assets up to $1 billion; and 0.40% on assets over $1 billion
| |
| MainStay XX XxxXxx Unconstrained Bond Portfolio |
0.30% on assets up to $500 million; 0.275% on assets from $500 million to $1 billion; 0.25% on assets from $1 billion to $5 billion; and 0.2375% on assets over $5 billion |
The portion of the fee based upon the average daily net assets of the respective Allocated Assets shall be accrued daily at the rate of l/(number of days in calendar year) of the annual rate applied to the daily net assets of the Allocated Assets. Payment will be made to the Subadvisor on a monthly basis.
* The Manager has agreed to waive a portion of the Fund’s/Portfolio’s management fee or reimburse the expenses of the appropriate class of the Fund/Portfolio so that the class total ordinary operating expenses do not exceed certain amounts. These waivers or expense limitations may be changed with Board approval. To the extent the Manager has agreed to waive its management fee or reimburse expenses, the Subadvisor, upon reasonable prior notice from the Manager, has voluntarily agreed to waive or reimburse its fee in proportion to the percentage of the total subadvisory fee that the Subadvisor earns.
