EXHIBIT (h)(8)
April 1, 2005
Atlas Advisers, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
Re: Expense Limitation Agreement
This will confirm our agreement with respect to the reduction by you in the
operating expenses for the various series (each a "Fund") of Atlas Funds (the
"Company").
You have agreed that, during the period April 30, 2005 to April 29, 2006, you
will waive investment management fees and reimburse other operating expenses
of certain Funds to the extent necessary to ensure that the total operating
expenses of each Fund do not exceed the percentage set forth in Exhibit A of
the average daily net assets of the Fund (the "Expense Cap").
This letter supersedes all prior agreements between us with respect to such
Expense Caps.
Please sign this letter below to confirm our agreement regarding this matter.
ATLAS FUNDS ATLAS INSURANCE TRUST
With Reference to Atlas Balanced
Growth Portfolio
By: /s/ Xxxxx Xxx By: /s/ Xxxxx Xxx
--------------------------- ---------------------------
Xxxxx Xxx Xxxxx Xxx
President and President and
Chief Operating Officer Chief Operating Officer
Agreed to this 1st day of April 2005:
ATLAS ADVISERS, INC.
By: /s/ Xxxxxx Xxxxxxx
---------------------------
Xxxxxx Xxxxxxx
Senior Vice President
APRIL 1, 2005
EXHIBIT A TO
EXPENSE LIMITATION AGREEMENT
EXPENSE
FUND CAP SCHEDULE
---------------------------------------------- ------------
Atlas U.S. Treasury Money Fund 0.71%
Atlas California Municipal Money Fund 0.58%
Atlas Money Market Fund 0.80%
Atlas Value Fund 1.41%
Atlas Balanced Fund 1.27%
Atlas S&P 500 Index Fund 0.61%
Atlas American Enterprise Bond Fund 1.01%
Atlas Balanced Growth Portfolio 0.50%
ATLAS FUNDS
ATLAS INSURANCE TRUST
With Reference to Atlas Balanced
Growth Portfolio
By: /s/ Xxxxx Xxx By: /s/ Xxxxx Xxx
--------------------------- ---------------------------
Xxxxx Xxx Xxxxx Xxx
President and President and
Chief Operating Officer Chief Operating Officer
Agreed to this 1st day of April 2005:
ATLAS ADVISERS, INC.
By: /s/ Xxxxxx Xxxxxxx
---------------------------
Xxxxxx Xxxxxxx
Senior Vice President
