THE MainSTay Funds AMENDMENT TO THE AMENDED AND RESTATED MANAGEMENT AGREEMENT
Exhibit d 1 a
THE MainSTay Funds
AMENDMENT TO THE AMENDED AND RESTATED MANAGEMENT AGREEMENT
This Amendment to the Amended and Restated Management Agreement is hereby made as of the 28th day of February, 2017, between the The MainStay Funds, a Massachusetts business trust (the “Trust”), on behalf of its series as set forth on Schedule A (each, a “Fund,” and collectively, the “Funds”) and New York Life Investment Management LLC, a Delaware limited liability company (the “Manager”).
WHEREAS, the Trust and the Manager are parties to the Amended and Restated Management Agreement, dated February 27, 2015, as amended (the “Agreement”); and
WHEREAS, the Trust and the Manager hereby wish to amend Schedule A of the Agreement to: (i) reflect revised management fees with respect to the MainStay High Yield Corporate Bond Fund and MainStay Money Market Fund; (ii) change the name of the MainStay Global High Income Fund to MainStay Emerging Markets Debt Fund; and (iii) change the name of the MainStay MAP Fund to the MainStay MAP Equity Fund.
NOW, THEREFORE, the parties agree as follows:
| (i) | Schedule A is hereby amended by deleting it in its entirety and replacing it with the Schedule attached hereto. |
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers and attested as of the date first written above.
NEW YORK LIFE INVESTMENT MANAGEMENT LLC
| Attest: | By: | |||
| Name: | Xxxxxx Xxxxx | Name: | Yie-Xxxx Xxxx | |
| Title: | Director and Associate General Counsel | Title: | Chief Executive Officer |
THE MAINSTAY FUNDS
| Attest: | By: | |||
| Name: | Xxxxxx Xxxxx | Name: | Xxxxxxx X. Xxxxxx | |
| Title: | Assistant Secretary | Title: | President |
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SCHEDULE A
(As of February 28, 2017)
For all services rendered by the Manager hereunder, each Fund of the Trust shall pay the Manager and the Manager agrees to accept as full compensation for all services rendered hereunder, at annual fee equal to the following:
| FUND | ANNUAL RATE AS A PERCENTAGE OF DAILY NET ASSETS | |
| MainStay Common Stock Fund |
0.55% up to $500 million;
| |
| MainStay Convertible Fund |
0.60% up to $500 million;
| |
|
MainStay Emerging Markets Debt Fund (formerly MainStay Global High Income Fund)
|
0.70% up to $500 million; 0.65% in excess of $500 million | |
| MainStay Government Fund |
0.50% up to $500 million;
| |
| MainStay High Yield Corporate Bond Fund |
0.60% up to $500 million; 0.525% from $5 billion to $7 billion; 0.50% from $7 billion to $10 billion; and 0.49% in excess of $10 billion
| |
| MainStay Income Builder Fund |
0.64% up to $500 million;
| |
| MainStay International Equity Fund |
0.89% up to $500 million; and 0.85% in excess of $500 million
| |
| MainStay Large Cap Growth Fund |
0.75% up to $500 million; 0.585% from $7 billion to $9 billion; and 0.575% in excess of $9 billion |
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|
MainStay MAP Equity Fund (formerly MainStay MAP Fund) |
0.75% up to $1 billion; and 0.675% in excess of $3 billion
| |
| MainStay Money Market Fund |
0.45% up to $500 million;
| |
| MainStay Tax Free Bond Fund |
0.45% up to $500 million; 0.425% from $500 million to $1 billion; and 0.40% in excess of $1 billion
| |
| MainStay Unconstrained Bond Fund |
0.60% up to $500 million; 0.55% from $500 million to $1 billion; 0.50% from $1 billion to $5 billion; and 0.475% in excess of $5 billion |
In addition, each Fund of the Trust, except MainStay Common Stock Fund, MainStay Government Fund, MainStay International Equity Fund, and MainStay Large Cap Growth Fund, shall pay the Manager the fee set forth below. In the event this Agreement is in effect for only a portion of any one year, the fee payable below shall be reduced proportionately on the basis of the number of business days (any day on which the New York Stock Exchange is open for trading) during which the Agreement was in effect for that year.
| FUND NET ASSETS | ACCOUNTING FEE SCHEDULE | |
| First $20 Million | 1/20 of 1% | |
| Next $80 Million | 1/30 of 1% | |
| Excess | 1/100 of 1% | |
| Minimum Monthly Charge | $1,000 |
This fee shown above is an annual charge, billed and payable monthly, based upon average monthly net assets.
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