April 24, 2014 AdvisorOne Funds Board of Trustees c/o Ryan Beach, President of the Board 17605 Wright Street Omaha, NE 68130 Re: Advisory Fee Waivers Dear Mr. Beach:
April 24, 2014
AdvisorOne Funds Board of Trustees
c/x Xxxx Xxxxx, President of the Board
00000 Xxxxxx Xxxxxx
Omaha, NE 68130
Re: Advisory Fee Waivers
Dear Mr. Xxxxx:
In connection with that certain Investment Advisory Agreement dated December 11, 2011, as amended April 24, 2014 (the “Agreement”)by and between Horizon Investments, LLC (the “Adviser”) and the AdvisorOne Funds (the “Funds”), Horizon has contractually agreed to waive a portion of its advisory fees for the benefit of the Funds, and to contractually bind itself, to waive or limit its management fees and to reimburse expenses, other than expenses relating to dividends on short sales, interest expense, indirect fees and expenses of underlying funds, and extraordinary or non-recurring expenses so that the annual operating expenses of the Funds do not exceed the percentage of average daily net assets indicated below:
Fund Name | Class A | Class N | Class I | Expiration Date |
Horizon Active Asset Allocation Fund | 1.67% | 1.42% | 1.17% | March 31, 2015 |
|
|
|
|
|
Horizon Active Income Fund |
| 1.24% | 0.99% | March 31, 2015 |
|
|
|
|
|
Horizon Active Risk Assist | 1.67% | 1.42% | 1.17% | December 31, 2015 |
These limitations are subject to possible reimbursement by each Fund, in future years on a rolling three year basis, if such reimbursement can be achieved within the foregoing expense limits.
We look forward to providing continuing service to the AdvisorOne Funds.
Sincerely,
/s/ Xxxxxx Xxxxxx
Xxxxxx Xxxxxx
CEO
Horizon Investments, LLC
Approved and accepted on behalf of each Fund
/s/ Xxxx Xxxxx
Xxxx Beach
President
