THE MainSTay Funds AMENDMENT TO THE AMENDED AND RESTATED MANAGEMENT AGREEMENT
Exhibit d 1 b
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, 2018, between 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 Income Builder Fund, the MainStay MacKay High Yield Corporate Bond Fund and the MainStay MacKay Tax Free Bond Fund; and (ii) change the names of certain Funds as follows:
| Former Name |
New Name
|
| MainStay Common Stock Fund | MainStay MacKay Common Stock Fund |
| MainStay Convertible Fund | MainStay MacKay Convertible Fund |
| MainStay Emerging Markets Debt Fund | MainStay MacKay Emerging Markets Debt Fund |
| MainStay Government Fund | MainStay MacKay Government Fund |
| MainStay High Yield Corporate Bond Fund | MainStay MacKay High Yield Corporate Bond Fund |
| MainStay International Equity Fund | MainStay MacKay International Equity Fund |
| MainStay Tax Free Bond Fund | MainStay MacKay Tax Free Bond Fund |
| MainStay Unconstrained Bond Fund | MainStay MacKay Unconstrained Bond 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: | /s/ Xxxxxx Xxxxx | By: | /s/ Yie-Xxxx Xxxx | ||
| Name: | Xxxxxx Xxxxx | Name: | Yie-Xxxx Xxxx | ||
| Title: | Director and Associate General Counsel | Title: | Chief Executive Officer |
THE MAINSTAY FUNDS
| Attest: | /s/ Xxxxxx Xxxxx | By: | /s/ Xxxx X. Xxxxxxx | ||
| Name: | Xxxxxx Xxxxx | Name: | Xxxx X. Xxxxxxx | ||
| Title: | Assistant Secretary | Title: | President |
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SCHEDULE A
(As of February 28, 2018)
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 Income Builder Fund | 0.64% on assets up to $500 million; 0.60% on assets from $500 million to $1 billion; 0.575% on assets from $1 billion to $5 billion; and 0.565% on assets over $5 billion |
| MainStay Large Cap Growth Fund |
0.75% on assets up to $500 million; 0.585% on assets from $7 billion to $9 billion; and 0.575% on assets over $9 billion
|
| MainStay MacKay Common Stock Fund | 0.55% on assets up to $500 million; 0.525% on assets from $500 million to $1 billion; and 0.50% on assets over $1 billion |
| MainStay MacKay Convertible Fund | 0.60% on assets up to $500 million; 0.55% on assets from $500 million to $1 billion; and 0.50% on assets over $1 billion |
|
MainStay MacKay Emerging Markets Debt Fund
|
0.70% on assets up to $500 million; and 0.65% on assets over $500 million |
| MainStay MacKay Government Fund | 0.50% on assets up to $500 million; 0.475% on assets from $500 million to $1 billion; and 0.45% on assets over $1 billion |
| MainStay MacKay High Yield Corporate Bond Fund |
0.60% on assets up to $500 million; 0.525% on assets from $5 billion to $7 billion; 0.50% on assets from $7 billion to $10 billion; 0.49% on assets from $10 billion to $15 billion; and
|
| MainStay MacKay International Equity Fund |
0.89% on assets up to $500 million; and 0.85% on assets over $500 million
|
| MainStay MacKay Tax Free Bond Fund |
0.45% on assets up to $500 million; 0.425% on assets from $500 million to $1 billion; 0.40% on assets from $1 billion to $5 billion; and
|
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| FUND | ANNUAL RATE AS A PERCENTAGE OF DAILY NET ASSETS |
| MainStay MacKay Unconstrained Bond Fund |
0.60% on assets up to $500 million; 0.55% on assets from $500 million to $1 billion; 0.50% on assets from $1 billion to $5 billion; and 0.475% on assets over $5 billion
|
|
MainStay MAP Equity Fund
|
0.75% on assets up to $1 billion; and 0.675% on assets over $3 billion
|
| MainStay Money Market Fund | 0.40% on assets up to $500 million; 0.35% on assets from $500 million up to $1 billion; and 0.30% on assets over $1 billion |
In addition, each Fund of the Trust, except MainStay Large Cap Growth Fund, MainStay MacKay Common Stock Fund, MainStay MacKay Government Fund, MainStay MacKay International Equity Fund and MainStay Money Market 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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