Exhibit 99.B.23(d)(2) SUB-ADVISORY AGREEMENT Sub-Advisory Agreement made as of [month] [day], 2003 (the "Agreement") between McMorgan & Company LLC, a Delaware limited liability company (the "Manager"), on behalf of McMorgan Funds (the "Trust") and...Sub-Advisory Agreement • October 15th, 2003 • McMorgan Funds • California
Exhibit 99.B.23(d)(1) INVESTMENT ADVISORY AGREEMENT FOR HIGH YIELD FUND THIS AGREEMENT is made and entered into as of October 15, 2003, by and between the McMorgan Funds (the "Trust"), a Delaware Statutory Trust, on behalf of the High Yield Fund (the...Investment Advisory Agreement • October 15th, 2003 • McMorgan Funds • Delaware
