Exhibit 9d
SUB-ADMINISTRATION AGREEMENT
(XXXXXX XXXXXXX FUND, INC.)
AGREEMENT made as of December __, 1996 by and between Xxxxxx Xxxxxxxx &
Xxxxxxxx, LLP, a Pennsylvania limited liability partnership ("MAS"), and The
Chase Manhattan Bank, a bank chartered under the laws of the State of New York
(the "Administrator").
W I T N E S S E T H:
WHEREAS, the Xxxxxx Xxxxxxx Funds, Inc. (the "Company") is registered as an
open-end, management investment company under the Investment Company Act of
1940, as amended (the "1940 Act"); and
WHEREAS, MAS is responsible for the provision of administration and fund
accounting services to the series of the Company identified on Schedule A (each,
a "Fund" and, collectively, the "Funds") pursuant to an Agreement between MAS
and the Company dated as of _____________, 1996 (the "MAS Administration
Agreement"); and
WHEREAS, MAS wishes to retain the Administrator to provide certain
administration and fund accounting services with respect to the Funds, and the
Administrator is willing to furnish such services;
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, it is agreed between the parties hereto as follows:
1. APPOINTMENT AND DELEGATION.
(a) MAS hereby appoints the Administrator to provide administration
and fund accounting services for MAS for the benefit of the Funds, subject to
the supervision of MAS and the Board of Directors of the Company (the "Board"),
for the period and on the terms set forth in this Agreement. The Administrator
accepts such appointment and agrees to furnish the services herein set forth in
return for the compensation as provided in Paragraph 5 of this Agreement. In
the event that the Company establishes one or more additional Funds to be
administered under the MAS Administration Agreement and with respect to which
MAS decides to retain the Administrator to act as administrator hereunder, MAS
shall notify the Administrator in writing. If the Administrator is willing to
render such services to a new Fund, the Administrator shall so notify MAS in
writing whereupon such Fund shall be added to Schedule A hereto and shall become
subject to the provisions of this Agreement to the same extent as the existing
Funds, except to the extent that said provisions (including those relating to
the compensation payable by MAS) may be modified with respect to such Fund in
writing by MAS and the Administrator at the time of the addition of such new
Fund.
(b) The Administrator is hereby authorized to use the services of its
wholly-owned subsidiary, Chase Global Funds Services Company ("CGFSC"), to
perform any of the
functions provided for hereunder; provided, that such use shall in no way limit
the Administrator's contractual rights and obligations hereunder. Reference
(except under Paragraph 2 hereof) to the Administrator herein shall be deemed to
include CGFSC.
2. REPRESENTATIONS AND WARRANTIES:
(a) The Administrator represents and warrants that:
(i) it is a bank duly chartered, organized and existing and in
good standing under the laws of the State of New York;
(ii) it is duly qualified to carry on its business in the State
of New York;
(iii) it is empowered under applicable laws and by its Charter
and By-Laws to enter into and perform this Agreement;
(iv) all requisite corporate proceedings have been taken to
authorize the Administrator to enter into and perform this Agreement;
(v) it has, and will continue to have, access to the
facilities, personnel and equipment required to fully perform its duties and
obligations hereunder;
(vi) no legal or administrative proceedings have been
instituted or threatened which would impair the Administrator's ability to
perform its duties and obligations under this Agreement; and
(vii) its entrance into this Agreement shall not cause a
material breach or be in material conflict with any other agreement or
obligation of the Administrator or any law or regulation applicable to it;
(b) MAS represents and warrants that:
(i) it is a Pennsylvania limited liability partnership, duly
organized and existing and in good standing under the laws of the Commonwealth
of Pennsylvania;
(ii) it is empowered under applicable laws and by its Agreement
of Limited Liability Partnership to enter into and perform this Agreement;
(iii) all requisite proceedings have been taken to authorize MAS
to enter into and perform this Agreement;
(iv) the Company is a Maryland corporation, duly organized and
existing and in good standing under the laws of the State of Maryland;
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(v) the Company is an investment company registered under the
1940 Act;
(vi) a registration statement under the Securities Act of 1933,
as amended ("1933 Act") and the 1940 Act on Form N-1A has been filed for the
Company and is currently effective, and will remain effective during the term of
this Agreement, and all necessary filings under the laws of the states will be
made and will be current during the term of this Agreement;
(vii) no legal or administrative proceedings have been
instituted or threatened which would impair MAS's ability to perform its duties
and obligations under this Agreement; and
(viii) MAS's entrance into this Agreement shall not cause a
material breach or be in material conflict with any other agreement or
obligation of MAS or the Company, or any law or regulation applicable to either.
3. DELIVERY OF DOCUMENTS. MAS will promptly furnish to the Administrator
such copies, properly certified or authenticated, of contracts, documents and
other related information that the Administrator may request or require to
properly discharge its duties. Such documents may include but are not limited
to the following:
(a) Resolutions of the Board authorizing the appointment of the
Administrator to provide certain administration and fund accounting services to
MAS and the Company;
(b) The Company's Articles of Incorporation, as amended ("Articles");
(c) The Company's By-Laws ("By-Laws");
(d) The Company's Notification of Registration on Form N-8A under the
1940 Act, as filed with the Securities and Exchange Commission ("SEC");
(e) The Company's registration statement, including exhibits, on Form
N-1A under the 1933 Act and the 1940 Act, and all amendments thereto, as filed
with the SEC (the "Registration Statement");
(f) Copies of the Investment Advisory Agreement between the Company
and MAS dated ____________, 1996 (the "Advisory Agreement") and the MAS
Administration Agreement;
(g) A copy of the custodian agreement dated ______________, 19__
between the Company and ________________ (the "Custodian
Agreement")(____________ is referred to herein as the "Custodian");
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(h) Opinions of counsel and auditors reports;
(i) Each Fund's current Prospectuses and Statement of Additional
Information and all amendments and supplements thereto (such Prospectuses and
Statement of Additional Information and supplements thereto, as presently in
effect and as from time to time hereafter amended and supplemented, are herein
called the "Prospectuses"); and
(j) Such other agreements as the Company may enter into from time to
time, including securities lending agreements, futures and commodities account
agreements, brokerage agreements, and options agreements.
4. SERVICES PROVIDED BY THE ADMINISTRATOR.
The Administrator will provide the following services, subject to the
control, direction and supervision of MAS and the Board and in compliance with
the objectives, policies and limitations set forth in the Company's Registration
Statement, Articles and By-Laws, applicable laws and regulation, and all
resolutions and policies adopted by the Board:
(a) FUND ADMINISTRATION. The Administrator will provide the fund
administration services described in Schedule B, hereto.
(b) FUND ACCOUNTING. The Administrator shall provide the fund
accounting services described in Schedule C, hereto.
(c) The Administrator will also:
(i) provide office facilities with respect to the provision of
the services contemplated herein (which may be in the offices of the
Administrator or a corporate affiliate of the Administrator);
(ii) provide the services of individuals to serve as officers
of the Company who will be designated by the Administrator and elected by the
Company's Board;
(iii) provide or otherwise obtain personnel sufficient, in the
Administrator's sole discretion, for provision of the services contemplated
herein;
(iv) furnish equipment and other materials which the
Administrator, in its sole discretion, believes are necessary or desirable for
provision of the services contemplated herein; and
(v) keep records relating to the services provided hereunder
in such form and manner as set forth in this Agreement and the Schedules hereto
and as the Administrator may otherwise deem appropriate or advisable, all in
accordance with the 1940 Act. To the extent
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required by Section 31 of the 1940 Act and the rules thereunder, the
Administrator agrees that all such records prepared or maintained by it relating
to the services provided hereunder are the property of the Company and will be
preserved for the periods prescribed under Rule 31a-2 under the 1940 Act,
maintained at the Company's expense, and made available in accordance with such
Section and rules. The Administrator further agrees to surrender promptly to
the Company upon its request and cease to retain in its records and files those
records and documents created and maintained by the Administrator pursuant to
this Agreement.
5. FEES; EXPENSES; EXPENSE REIMBURSEMENT
(a) As compensation for the services rendered to MAS and the Company
pursuant to this Agreement, MAS shall pay the Company such compensation as is
agreed to in writing from time to time by the parties hereto.
(b) For the purposes of determining any fees calculated by reference
to the Company's assets, the value of the Company's net assets shall be computed
as required by its Prospectuses, generally accepted accounting principles and
resolutions of the Board.
(c) The Administrator will from time to time employ or associate with
such person or persons as may be appropriate to assist the Administrator in the
performance of this Agreement. Such persons or persons may be officers and
employees who are employed or designated as officers by both the Administrator
and the Company. The compensation of such person or persons for such employment
shall be paid by the Administrator and no obligation will be incurred by or on
behalf of the Company in such respect.
(d) The Administrator will bear all of its own expenses in connection
with its performance of services under this Agreement except as otherwise agreed
to by the parties hereto. MAS agrees to promptly reimburse the Administrator
for any equipment and supplies specially ordered by or for the Company through
the Administrator and for any other expenses not contemplated by this Agreement
that the Administrator may incur on the Company's behalf at MAS's or the
Company's request or as consented to by MAS or by the Company. Such other
expenses to be incurred in the operation of the Company and to be borne by the
Company include, but are not limited to: taxes; interest; SEC and state blue sky
registration and qualification fees, levies, fines and other charges; charges
and expenses of custodians; advisory fees; insurance premiums, including
fidelity bond premiums; auditing and legal expenses; expenses of typesetting and
printing of Prospectuses for regulatory purposes and for distribution to current
shareholders of the Company (the Company's distributor to bear the expense of
all other printing, production, and distribution of Prospectuses and marketing
materials); expenses of typesetting, printing and production costs of
shareholders' reports and proxy statements and materials; costs and expenses of
Company stationery and forms; costs associated with shareholder and Board
meetings; and any extraordinary Company expenses. In addition, the
Administrator may utilize one or more independent pricing services, approved
from time to time by the Board, to obtain securities prices and to act as backup
to the primary pricing services, in connection with
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determining the net asset value of the Company, and the Company will reimburse
the Administrator for the Company's share of the cost of such services based
upon the actual usage or a pro rata estimate of the use of the services for the
benefit of the Company.
6. PROPRIETARY AND CONFIDENTIAL INFORMATION. The Administrator agrees on
behalf of itself and its employees to treat confidentially and as proprietary
information of the Company, all records and other information relative to the
Company, and to not use such records and information for any purpose other than
performance of the Administrator's responsibilities and duties hereunder. The
Administrator may seek a waiver of such confidentiality provisions by furnishing
reasonable prior notice to the Company and obtaining approval in writing from
the Company, which approval shall not be unreasonably withheld and may not be
withheld where the Administrator may be exposed to civil or criminal contempt
proceedings for failure to comply, when requested to divulge such information by
duly constituted authorities. Waivers of confidentiality are automatically
effective without further action by the Administrator with respect to Internal
Revenue Service levies, subpoenas and similar actions, or with respect to any
request by the Company.
7. DUTIES, RESPONSIBILITIES AND LIMITATION OF LIABILITY.
(a) In the performance of its duties hereunder, the Administrator
shall be obligated, as applicable, to exercise the due care and diligence of a
mutual fund accounting agent and administrator, and in all events to act in good
faith in performing the services provided for under this Agreement. In
performing its services hereunder, the Administrator shall be entitled to rely
on any oral or written instructions, notices or other communications from the
Company and its Custodian, officers and directors, investors, agents and other
service providers which the Administrator reasonably believes to be genuine,
valid and authorized. The Administrator shall also be entitled to rely on the
advice and opinions of outside legal counsel retained by the Company, as
necessary or appropriate.
(b) Subject to the foregoing, the Administrator shall not be liable
for any error of judgment or mistake of law or for any loss or expense suffered
by the Company, in connection with the matters to which this Agreement relates,
except for a loss or expense resulting from willful misfeasance, bad faith or
gross negligence on the Administrator's part in the performance of its duties or
from reckless disregard by the Administrator of its obligations and duties under
this Agreement. Any officer, director, partner, employee or agent of the
Company who is also an officer, director, partner, employee or agent of the
Administrator shall be deemed to be rendering services to or acting solely for
the Company, except when rendering services or business in connection with the
Administrator's duties hereunder.
(c) Subject to Paragraph 7(b) above, the Administrator shall not be
responsible for, and MAS shall indemnify and hold the Administrator harmless
from and against, any and all losses, damages, costs, reasonable attorneys' fees
and expenses, payments, expenses and liabilities arising out of or attributable
to:
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(i) all actions of the Administrator or its officers or agents
required to be taken pursuant to this Agreement;
(ii) the reliance on or use by the Administrator or its
officers or agents of information, records or documents which are received by
the Administrator or its officers or agents and furnished to it or them by or on
behalf of MAS or the Company, and which have been prepared or maintained by the
Company, MAS or any other third party on behalf of MAS or the Company;
(iii) MAS's refusal or failure to comply with the terms of this
Agreement or MAS's lack of good faith, or its actions, or lack thereof,
involving gross negligence or willful misfeasance;
(iv) the breach of any representation or warranty of MAS
hereunder; or
(v) the offer or sale of shares by the Company and/or its
distributor (a) in violation of any requirement under the federal securities
laws or regulations or the securities laws or regulations of any state, or (b)
in violation of any stop order or other determination or ruling by any Federal
agency or any state agency with respect to the offer or sale of such shares in
such state resulting from activities, actions, or omissions by the Company or
its distributor or existing or arising out of activities, actions or omissions
by or on behalf of the Company prior to the effective date of this Agreement.
(d) The Administrator shall indemnify and hold MAS harmless from and
against any and all losses, damages, costs, charges, reasonable attorneys' fees
and expenses, payments, expenses and liabilities arising out of or attributable
to the Administrator's refusal or failure to comply with the terms of this
Agreement, the Administrator's breach of any representation or warranty made by
it herein, or the Administrator's lack of good faith, or acts involving gross
negligence, willful misfeasance or reckless disregard of its duties.
8. TERM. This Agreement shall become effective on the date that MAS
first assumes responsibility for providing administrative services to the
Company pursuant to the MAS Administration Agreement. This Agreement shall
continue in effect unless terminated by either party on 90 days' prior written
notice. Upon termination of this Agreement, MAS shall pay to the Administrator
such compensation and any reimbursable expenses as may be due under the terms
hereof as of the date of termination or the date that the provision of services
under this Agreement by the Administrator ceases, whichever is later.
9. HIRING OF EMPLOYEES. MAS and the Administrator agree that they will
not enter into discussions of employment or make offers of employment to each
others' employees without written approval from the other.
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10. NOTICES. Any notice required or permitted hereunder shall be in
writing and shall be deemed to have been given when delivered in person or by
certified mail, return receipt requested, to the parties at the following
address (or such other address as a party may specify by notice to the other):
If to MAS:
Xxxxxx, Xxxxxxxx & Xxxxxxxx, LLP
Xxx Xxxxx Xxxxxx
Xxxx Xxxxxxxxxxxx, XX 00000
Attn: Xx. Xxxxxxxx Xxxxxx
FAX: (000) 000-0000
WITH A COPY TO:
Xxxx X. Xxxxx, Xx., Esquire
Xxxxxx, Xxxxx & Bockius LLP
0000 X Xx., X.X.
Xxxxxxxxxx, XX 00000
FAX: (000) 000-0000
If to the Administrator:
-------------------------------
-------------------------------
-------------------------------
Attn:
------------------------
FAX:
------------------------
WITH A COPY TO:
Chase Global Funds Services Company
00 Xxxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Attn:
------------------------
FAX: (617)
-------------------
Notice shall be effective upon receipt, if by mail, on the date of personal
delivery, if by private messenger, courier service or otherwise, or upon
confirmed receipt of telex or facsimile, whichever occurs first.
11. ASSIGNABILITY. This Agreement shall not be assigned by any of the
parties hereto without the prior consent in writing of the other party;
provided, however, that the Administrator may in its own discretion and without
limitation or prior consent of MAS or the Company,
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whenever and on such terms and conditions as the Administrator deems necessary
or appropriate, subcontract, delegate or assign its rights, duties, obligations
and liabilities to its subsidiaries or affiliates; provided further, that any
such subcontract, agreement or understanding shall not discharge the
Administrator or its affiliates or subsidiaries, as the case may be, from the
obligations hereunder. Similarly, the Administrator or its affiliated
subcontractor, designee, or assignee may, at its discretion, without notice to
the Company, enter into such subcontracts, agreements and understandings,
whenever and on such terms and conditions as the Administrator or they deem
necessary or appropriate to perform services hereunder, with non-affiliated
third parties; provided, however, that such subcontract, agreement or
understanding shall not discharge the Administrator, or its subcontractor,
designee, or assignee, as the case may be, from the Administrator's obligations
hereunder.
12. WAIVER. The failure of a party to insist upon strict adherence to any
term of this Agreement on any occasion shall not be considered a waiver nor
shall it deprive such party of the right thereafter to insist upon strict
adherence to that term or any term of this Agreement. Any waiver must be in
writing signed by the waiving party.
13. FORCE MAJEURE. The Administrator shall not be responsible or liable
for any failure or delay in performance of its obligations under this Agreement
arising out of or caused, directly or indirectly, by circumstances beyond its
reasonable control, including without limitation, acts of God, earthquakes,
fires, floods, wars, acts of civil or military authorities, or governmental
actions, nor shall any such failure or delay give MAS the right to terminate
this Agreement.
14. AMENDMENTS. This Agreement may be modified or amended from time to
time by mutual written agreement between the parties. No provision of this
Agreement may be changed, discharged or terminated orally, but only by an
instrument in writing signed by the party against which enforcement of the
change, discharge or termination is sought.
15. SEVERABILITY. If any provision of this Agreement is invalid or
unenforceable, the balance of the Agreement shall remain in effect, and if any
provision is inapplicable to any person or circumstance it shall nevertheless
remain applicable to all other persons and circumstances.
16. GOVERNING LAW. This Agreement shall be governed by the laws of the
Commonwealth of Pennsylvania.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their officers designated below as of the date first written above.
XXXXXX XXXXXXXX & XXXXXXXX, LLP
By:
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Name:
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Title:
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THE CHASE MANHATTAN BANK
By:
--------------------------------
Name:
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Title:
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SCHEDULE A
LISTING OF FUNDS SUBJECT TO THIS AGREEMENT
1. Xxxxxx Xxxxxxx Mid Cap Growth Fund
2. Xxxxxx Xxxxxxx Value Fund
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SCHEDULE B
GENERAL DESCRIPTION OF FUND ADMINISTRATION SERVICES
I. FINANCIAL AND TAX REPORTING
In accordance with specific procedures and guidelines established in
writing by the parties hereto from time to time, the Administrator will provide
the following administrative services:
A. Prepare agreed-upon management reports and Board materials, such as
unaudited financial statements, distribution summaries, and deviations
from xxxx-to-market to amortized cost valuation for money market
portfolios.
B. Report Fund performance to outside services as directed by Company
management.
C. Calculate dividend and capital gain distributions in accordance with
distribution policies detailed in each Fund's Prospectuses. Assist
Company management in making final determinations of distribution
amounts.
D. Estimate and recommend year-end dividend and capital gain
distributions necessary to establish each Fund's status as a regulated
investment company ("RIC") under Section 4982 of the Internal Revenue
Code of 1986, as amended (the "Code") regarding minimum distribution
requirements.
E. Prepare and file the Funds' Federal tax returns on Form 1120-RIC along
with all state and local tax returns, where applicable. Prepare and
file Federal Excise Tax Return (Form 8613).
F. Prepare and file the Funds' semi-annual reports on Form N-SAR with the
SEC.
G. Prepare and coordinate printing of Funds' semi-annual and annual
reports to shareholders.
H. File copies of every financial report to shareholders with the SEC
under Rule 30b2-1 under the 1940 Act.
I. Notify shareholders as to what portion, if any, of the distributions
made by the Funds during the prior fiscal year were exempt-interest
dividends under Section 852(b)(5)(A) of the Code.
J. Provide Form 1099-MISC to persons other than corporations (i.e.,
Trustees) to whom the Funds paid more than $600 during the year.
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K. Prepare and file State Expense Limitation Report(s) (if applicable).
L. Provide financial information for Fund proxies and Prospectuses.
II. FUND COMPLIANCE. In accordance with specific procedures and guidelines
established in writing from time to time by the parties hereto, the
Administrator will:
A. Assist with monitoring each Fund's compliance with investment
restrictions (e.g., issuer or industry diversification) listed in the
Prospectuses.
B. Assist with monitoring each Fund's compliance with the requirements of
the Code Section 851 for qualification as RICs.
C. Assist with monitoring the investment adviser's compliance with Board
directives such as "Approved Issuers Listings for Repurchase
Agreements," Rule 2a-7 procedures for money market funds and Rule 17a-
7, Rule 17e-1 and Rule 12d3-1 procedures.
D. Mail quarterly requests for "Securities Transaction Reports" to the
Company's Board, Officers and other "access persons" under the terms
of the Company's Code of Ethics and SEC regulations.
III. REGISTRATION AND CORPORATE GOVERNANCE
A. Prepare and file post-effective amendments to the Company's
Registration Statement, and prepare and file supplements as needed.
B. Prepare and file proxy materials and administer shareholder meetings.
C. Prepare and file Rule 24f-2 Notices.
D. Prepare and file all state registrations of the Company's securities,
including annual renewals, registering new Portfolios, preparing and
filing sales reports, filing copies of the Registration Statement and
Prospectuses, and increasing registered amounts of securities in
individual states.
E. Prepare Board materials for all Board meetings.
IV. GENERAL ADMINISTRATION
A. Furnish officers of the Company, subject to Board approval.
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B. In accordance with specific procedures and guidelines established in
writing from time to time by the parties hereto, the Administrator
will prepare Company and Fund expense projections, and establish and
review accruals on a periodic basis, including expenses based on a
percentage of the Funds' average daily net assets and expenses based
on actual charges annualized and accrued daily (i.e., audit fees,
registration fees, Director' fees).
C. For new Funds, obtain Employer Identification Number and CUSIP number.
Estimate organizational costs and expenses, and monitor against actual
disbursements.
D. Coordinate all communications and data collection pertaining to any
regulatory examinations and yearly audits by independent accountants.
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SCHEDULE C
DESCRIPTION OF FUND ACCOUNTING SERVICES
I. GENERAL DESCRIPTION
In accordance with specific procedures and guidelines established in
writing from time to time by the parties hereto, the Administrator shall provide
the following accounting services to the Funds on behalf of MAS:
A. Maintenance of the books and records and accounting controls for the
Funds' assets, including records of all securities transactions;
B. Calculation and transmission of each Fund's net asset value to the
NASD source for publication of prices in accordance with the
prospectus and to such other entities as directed by MAS;
C. Accounting for dividends and interest received and distributions made
by the Funds;
D. Production of transaction data, financial reports and such other
periodic and special reports as the Board may reasonably request;
E. Preparation of financial statements for the semi-annual and annual
reports and other shareholder communications;
F. Liaison with the Company's independent auditors;
G. Monitoring and administration of arrangements with the Company's
custodian and depository banks; and
H. Furnishing the following reports
II. DOMESTIC FUND ACCOUNTING DAILY REPORTS
The Administrator will supply MAS with the following reports on a
daily basis:
A. General Ledger Reports
1. Trial Balance Report
2. General Ledger Activity Report
B. Portfolio Reports
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1. Portfolio Report
2. Cost Lot Report
3. Purchase Journal
4. Sell/Maturity Journal
5. Amortization/Accretion Report
6. Maturity Projection Report
C. Pricing Reports
1. Pricing Report
2. Pricing Report by Market Value
3. Pricing Variance by Percentage Change
4. NAV Report
5. NAV Proof Report
6. Money Market Pricing Report
D. Accounts Receivable/Payable Reports
1. Accounts Receivable for Investments Report
2. Accounts Payable for Investments Report
3. Interest Accrual Report
4. Dividend Accrual Report
E. Other Reports
1. Dividend Computation Report
2. Cash Availability Report
3. Settlement Journal
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III. INTERNATIONAL FUND ACCOUNTING DAILY REPORTS
The Administrator will supply MAS with the following reports on a daily
basis:
A. General Ledger
1. Trial Balance Report
2. General Ledger Activity Report
B. Portfolio Reports
1. Portfolio Report by Xxxxxx
0. Cost Lot Report
3. Purchase Journal
4. Sell/Maturity Journal
C. Currency Reports
1. Currency Purchase/Sales Journal
2. Currency Valuation Report
D. Pricing Reports
1. Pricing Report by Country
2. Pricing Report by Market Value
3. Price Variance by Percentage Change
4. NAV Report
5. NAV Proof Report
E. Accounts Receivable/Payable Reports
1. Accounts Receivable for Investments Sold/Matured
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2. Accounts Payable for Investments Purchased
3. Accounts Receivable for Forward Exchange Contracts
4. Accounts Payable for Forward Exchange Contracts
5. Interest Receivable Valuation
6. Interest Recoverable Withholding Tax
7. Dividends Receivable Valuation
8. Dividends Recoverable Withholding Tax
F. Other Reports
1. Exchange Rate Report
IV. MONTHLY FUND ACCOUNTING REPORTS
The Administrator will provide MAS with the following reports on a monthly
basis.
A. Standard Reports
1. Cost Proof Report
2. Transaction History Report
3. Realized Gain/Loss Report
4. Interest Record Report
5. Dividend Record Report
6. Broker Commission Totals
7. Broker Principal Trades
8. Shareholder Activity Report
9. Fund Performance Report
10. SEC Yield Calculation Work Sheet
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B. International Reports
1. Forward Contract Transaction History Report
2. Currency Gain/Loss Report
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