Ex -99a
Trust Agreement
Amendmend 20
▇▇▇ ▇▇▇ FUNDS
AMENDMENT NO. 20
TO
THE AMENDED AND RESTATED MASTER TRUST AGREEMENT
AMENDMENT NO. 20 to the Amended and Restated Master Trust Agreement dated
as of February 6, 1992 (the "Agreement") of ▇▇▇ ▇▇▇ Funds (the "Trust"), made as
of the 5th day of April 2006.
W I T N E S S E T H:
WHEREAS, Article VII, Section 7.3 of the Agreement provides that Section
3.6 of the Agreement may be amended at any time by an instrument in writing
signed by an officer of the Trust pursuant to a vote of a majority of the
Trustees and when authorized to do so by the vote of a majority of the
outstanding voting securities as such term is defined in the Investment Company
Act of 1940, as amended (the "1940 Act"); and
WHEREAS, on April 5, 2006, a majority of the Trustees voted to add
additional Classes to three Series of the Trust which will be named Emerging
Markets Fund Class I, International Investors Gold Fund Class I and Global Hard
Assets Fund Class I (together the "Fund"); and
WHEREAS Article IV, Section 4.1 of the Agreement provides that the Trustees
of the Trust may establish and designate series of shares ("Sub-Trusts"") of the
Trust and classes thereof subject to the approval of the majority of the
outstanding voting shares of that Sub-Trust; and
WHEREAS, the undersigned has been duly authorized by the Trustees to
execute and file this Amendment No. 20 to the Agreement; and
NOW, THEREFORE, the Agreement is hereby amended as follows:
Section 4.2 ESTABLISHMENT AND DESIGNATION OF SUB-TRUSTS. Without
limiting the authority of the Trustees set forth in Section 4.1 to
establish and designate any further Sub-Trusts, the Trustees hereby
establish and designate the following three Sub-Trusts: Emerging
Markets Fund (Class A, Class C and Class I), Global Hard Assets Fund
(Class A, Class C and Class I), and International Investors Gold Fund
(Class A, Class C and Class I). Shares of such Sub-Trusts and any
Shares of any further Sub-Trusts that may from time to time be
established and designated by the Trustees shall, unless the Trustees
otherwise determine with respect to some further Sub-Trust at the time
of establishing and designating the same, have the same relative
rights and preferences.
The undersigned hereby certifies that the Amendment set forth above has
been duly adopted in accordance with the provisions of the Agreement.
IN WITNESS WHEREOF, the undersigned has hereto set his hands as of the day
and year first above written.
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By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Secretary
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Notary Public, State of New York
No. 01EM5077310
Qualified in Queens County
Commission Expires May 5, 2007
