AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT TO THE
THIS AMENDMENT dated as of the 18th day of September, 2015, to the Fund Administration Servicing Agreement, dated as of June 8, 2006, as amended (the “Fund Administration Agreement”), is entered into by and between Advisors Series Trust, a Delaware statutory trust (the “Trust”) on behalf of its separate series listed on Exhibit D attached hereto (as amended from time to time) and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS”).
RECITALS
WHEREAS, the parties have entered into a Fund Administration Agreement; and
WHEREAS, the parties desire to amend the fees of the Agreement; and
WHEREAS, Section 10 of the Fund Administration Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree to amend the following:
The previous Exhibits D and D-1 are hereby superseded and replaced with Amended Exhibit D attached hereto.
Except to the extent amended hereby, the Fund Administration Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
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U.S. BANCORP FUND SERVICES, LLC
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By: /s/ Xxxxxxx X. Xxxx
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By: /s/ Xxxxxxx X. XxXxx
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Printed Name: Xxxxxxx X. Xxxx
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Printed Name: Xxxxxxx X. XxXxx
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Title: President
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Title: Executive Vice President
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Amended Exhibit D
Name of Series
Capital Advisors Growth Fund
C Tactical Dynamic Fund
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FUND ACCOUNTING, FUND ADMINISTRATION & PORTFOLIO COMPLIANCE, AND CHIEF COMPLIANCE OFFICER (CCO) SERVICES FEE SCHEDULE at September, 2015
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Annual Fee Based Upon Average Net Assets Per Fund*
[ ] basis points on the first $[ ]
[ ] basis points on the next $[ ]
[ ] basis points on the balance
Base fee: $[ ]
§ Additional fee of $[ ] for each additional class
§ Additional fee of $[ ] per manager/sub-advisor per fund
Services Included in Annual Fee Per Fund
§ Advisor Information Source – On-line access to portfolio management and compliance information.
§ Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting.
§ USBFS Legal Administration (e.g., registration statement update)
Pricing Services
§ $[ ] – Domestic Equities, Options, ADRs
§ $[ ] - Domestic Corporates, Convertibles, Gov’t, Agency Bonds, Foreign Equities, Futures, Forwards, Currency Rates
§ $[ ] - CMOs, Municipal Bonds, Money Market Instruments, Foreign Corporate, Convertible/Gov’t/Agency Bonds, Asset Backed Securities, Mortgage Backed Securities
§ $[ ] - Bank Loans
§ $[ ] - Credit Default Swaps
§ $[ ] – Swaptions, Index Swaps
§ $[ ] – Interest Rate Swaps, Foreign Currency Swaps, Total Return Swaps, Total Return Bullet Swaps
Corporate Action & Manual Pricing Services
§ $[ ] /Foreign Equity Security per Month for Corporate Action Service
§ $[ ] /Domestic Equity Security per Month for Corporate Action Service
§ $[ ] /Month Manual Security Pricing (>10/day)
Fair Value Services (Charged at the Complex Level)**
§ $[ ] on the First 100 Securities
§ $[ ] on the Balance of Securities
NOTE: Prices above are based on using U.S. Bancorp primary pricing service which may vary by security type and are subject to change. Use of alternative and/or additional sources may result in additional fees. Pricing vendors may designate certain securities as hard to value or as a non-unique security type requiring special pricing or accounting arrangements.
Factor Services (security paydown factor data)
· $[ ] per CMOs, Asset Backed, Mortgage Backed Security per Month
Chief Compliance Officer Annual Fees (Per Advisor Relationship/Fund)*
§ $[ ] for the first fund (subject to Board approval)
§ $[ ] for each additional fund (subject to change based on Board review and approval)
§ $[ ] /sub-advisor per fund
Third Party Administrative Data Charges (descriptive data for each security)
· $[ ] per security based on using U.S. Bancorp standard data pricing services and are subject to change.
Out-Of-Pocket Expenses
Including but not limited to SWIFT processing, customized reporting, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar, GICS, MSCI, Lipper, etc), postage, stationery, programming, special reports, proxies, insurance, XXXXX/XBRL filing, retention of records, federal and state regulatory filing fees, expenses related to and including travel to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing, PFIC monitoring, conversion expenses (if necessary), and CCO team travel related costs to perform due diligence reviews at advisor or sub-advisor facilities.
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Amended Exhibit D (continued)
FUND ACCOUNTING, FUND ADMINISTRATION & PORTFOLIO COMPLIANCE, AND CHIEF COMPLIANCE OFFICER (CCO) SERVICES FEE SCHEDULE (continued) at September, 2015
Additional Services
Available but not included above are the following services – additional legal administration (e.g., subsequent new fund launch), daily compliance testing, Section 15(c) reporting, equity & fixed income attribution reporting, electronic Board book portal (BookMark), and additional services mutually agreed upon.
*Subject to annual CPI increase, Milwaukee MSA.
Fees are billed monthly.
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FUND ADMINISTRATION & COMPLIANCE PORTFOLIO SERVICES
SUPPLEMENTAL SERVICES
FEE SCHEDULE at September, 2015
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Additional Legal Administration Services
§ Subsequent new fund launch – $[ ] /project
§ Subsequent new share class launch – $[ ] /project
§ Multi-managed funds – as negotiated based upon specific requirements
§ Proxy – as negotiated based upon specific requirements
Daily Compliance Services (Xxxxxxx River)
§ Base fee – $[ ] /fund per year
§ Setup – $[ ] /fund group
§ Data Feed – $[ ] /security per month
Section 15(c) Reporting
§ $[ ] /fund per report – first class
§ $[ ] /additional class report
Equity Attribution (Morningstar Direct)
§ Fees are dependent upon portfolio makeup
BookMark Electronic Board Book Portal
§ USBFS will establish a central, secure portal for Board materials using a unique client board URL.
§ Your Fund Administrator will load/maintain all fund board book data for the main fund board meetings and meetings.
§ Features password-protected, encrypted servers with automatic failover.
§ Training and ongoing system support.
§ Accessible from your smart phone or iPad.
§ Allows multiple users to access materials concurrently.
§ Searchable archive.
§ Ability to make personal comments.
Annual Fee
§ [ ] – [ ] users - $[ ] (includes [ ] GB of storage)
§ [ ] – [ ] users - $[ ]
§ [ ] - [ ] users - $[ ]
§ [ ] - [ ] users - $[ ]
Additional storage:
§ [ ] GB included in annual charge
§ $[ ] for each additional [ ] GB of storage
Daily Pre- and Post-Tax Fund (INCLUDED IN ANNUAL FEE) and/or Sub-Advisor Performance Reporting
§ Performance Service – $[ ] /CUSIP per month
§ Setup – $[ ] /CUSIP
§ Conversion – quoted separately
§ FTP Delivery – $[ ] setup /FTP site
(signature on the following page)
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Amended Exhibit D (continued)
Advisor’s Signature below acknowledges approval of the Fund Administration fee schedules on this Amended Exhibit D for the Capital Advisors Funds.
Capital Advisors, Inc.
By: /s/ Xxxxxxxx X. Xxxxx
Printed Name: Xxxxxxxx X. Xxxxx
Title: Managing Director Date: 9-25-15
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