Exhibit 13
SERVICES AGREEMENT
AGREEMENT made as of the 17th day of April, 1995, and amended as of June
22, 1998, by and between ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Advisors Inc., a Delaware
corporation (herein referred to as "MSDW Advisors"), and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇ Services Company Inc., a Delaware corporation (herein referred to as
"MSDW Services").
WHEREAS, MSDW Advisors has entered into separate agreements (each such
agreement being herein referred to as an "Investment Management Agreement")
with certain investment companies as set forth on Schedule A (each such
investment company being herein referred to as a "Fund" and, collectively, as
the "Funds") pursuant to which MSDW Advisors is to perform, or supervise the
performance of, among other services, administrative services for the Funds
(and, in the case of Funds with multiple portfolios, the Series or Portfolios
of the Funds (such Series and Portfolio being herein individually referred to
as "a Series" and, collectively, as "the Series"));
WHEREAS, MSDW Advisors desires to retain MSDW Services to perform the
administrative services as described below; and
WHEREAS, MSDW Services desires to be retained by MSDW Advisors to perform
such administrative services:
Now, therefore, in consideration of the mutual covenants and agreements of
the parties hereto as herein set forth, the parties covenant and agree as
follows:
1. MSDW Services agrees to provide administrative services to each Fund as
hereinafter set forth. Without limiting the generality of the foregoing, MSDW
Services shall (i) administer the Fund's business affairs and supervise the
overall day-to-day operations of the Fund (other than rendering investment
advice); (ii) provide the Fund with full administrative services, including the
maintenance of certain books and records, such as journals, ledger accounts and
other records required under the Investment Company Act of 1940, as amended
(the "Act"), the notification to the Fund and MSDW Advisors of available funds
for investment, the reconciliation of account information and balances among
the Fund's custodian, transfer agent and dividend disbursing agent and MSDW
Advisors, and the calculation of the net asset value of the Fund's shares;
(iii) provide the Fund with the services of persons competent to perform such
supervisory, administrative and clerical functions as are necessary to provide
effective operation of the Fund; (iv) oversee the performance of administrative
and professional services rendered to the Fund by others, including its
custodian, transfer agent and dividend disbursing agent, as well as accounting,
auditing and other services; (v) provide the Fund with adequate general office
space and facilities; (vi) assist in the preparation and the printing of the
periodic updating of the Fund's registration statement and prospectus (and, in
the case of an open-end Fund, the statement of additional information), tax
returns, proxy statements, and reports to its shareholders and the Securities
and Exchange Commission; and (vii) monitor the compliance of the Fund's
investment policies and restrictions.
In the event that MSDW Advisors enters into an Investment Management
Agreement with another investment company, and wishes to retain MSDW Services
to perform administrative services hereunder, it shall notify MSDW Services in
writing. If MSDW Services is willing to render such services, it shall notify
MSDW Advisors in writing, whereupon such other Fund shall become a Fund as
defined herein.
2. MSDW Services shall, at its own expense, maintain such staff and employ
or retain such personnel and consult with such other persons as it shall from
time to time determine to be necessary or useful to the performance of its
obligations under this Agreement. Without limiting the generality of the
foregoing, the staff and personnel of MSDW Services shall be deemed to include
officers of MSDW Services and persons employed or otherwise retained by MSDW
Services (including officers and employees of MSDW Advisors, with the consent
of MSDW Advisors) to furnish services, statistical and other factual data,
information with respect to technical and scientific developments, and such
other information, advice and assistance as MSDW Services may desire. MSDW
Services shall maintain each Fund's records and books of account (other than
those maintained by the Fund's transfer agent, registrar, custodian and other
agencies). All such books and records so maintained shall be the property of
the Fund and, upon request therefor, MSDW Services shall surrender to MSDW
Advisors or to the Fund such of the books and records so requested.
1
C60882
3. MSDW Advisors will, from time to time, furnish or otherwise make
available to MSDW Services such financial reports, proxy statements and other
information relating to the business and affairs of the Fund as MSDW Services
may reasonably require in order to discharge its duties and obligations to the
Fund under this Agreement or to comply with any applicable law and regulation
or request of the Board of Directors/Trustees of the Fund.
4. For the services to be rendered, the facilities furnished, and the
expenses assumed by MSDW Services, MSDW Advisors shall pay to MSDW Services
monthly compensation calculated daily (in the case of an open-end Fund) or
weekly (in the case of a closed-end Fund) by applying the annual rate or rates
set forth on Schedule B to the net assets of each Fund. Except as hereinafter
set forth, (i) in the case of an open-end Fund, compensation under this
Agreement shall be calculated by applying 1/365th of the annual rate or rates
to the Fund's or the Series' daily net assets determined as of the close of
business on that day or the last previous business day and (ii) in the case of
a closed-end Fund, compensation under this Agreement shall be calculated by
applying the annual rate or rates to the Fund's average weekly net assets
determined as of the close of the last business day of each week. If this
Agreement becomes effective subsequent to the first day of a month or shall
terminate before the last day of a month, compensation for that part of the
month this Agreement is in effect shall be prorated in a manner consistent with
the calculation of the fees as set forth on Schedule B. Subject to the
provisions of paragraph 5 hereof, payment of MSDW Services' compensation for
the preceding month shall be made as promptly as possible after completion of
the computations contemplated by paragraph 5 hereof.
5. In the event the operating expenses of any open-end Fund and/or any
Series thereof, or of InterCapital Income Securities Inc., including amounts
payable to MSDW Advisors pursuant to the Investment Management Agreement, for
any fiscal year ending on a date on which this Agreement is in effect, exceed
the expense limitations applicable to the Fund and/or any Series thereof
imposed by state securities laws or regulations thereunder, as such limitations
may be raised or lowered from time to time, or, in the case of InterCapital
Income Securities Inc. or ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Variable Investment Series
or any Series thereof, the expense limitation specified in the Fund's
Investment Management Agreement, the fee payable hereunder shall be reduced on
a pro rata basis in the same proportion as the fee payable by the Fund under
the Investment Management Agreement is reduced.
6. MSDW Services shall bear the cost of rendering the administrative
services to be performed by it under this Agreement, and shall, at its own
expense, pay the compensation of the officers and employees, if any, of the
Fund employed by MSDW Services, and such clerical help and bookkeeping services
as MSDW Services shall reasonably require in performing its duties hereunder.
7. MSDW Services will use its best efforts in the performance of
administrative activitives on behalf of each Fund, but in the absence of
willful misfeasance, bad faith, gross negligence or reckless disregard of its
obligations hereunder, MSDW Services shall not be liable to the Fund or any of
its investors for any error of judgment or mistake of law or for any act or
omission by MSDW Services or for any losses sustained by the Fund or its
investors. It is understood that, subject to the terms and conditions of the
Investment Management Agreement between each Fund and MSDW Advisors, MSDW
Advisors shall retain ultimate responsibility for all services to be performed
hereunder by MSDW Services. MSDW Services shall indemnify MSDW Advisors and
hold it harmless from any liability that MSDW Advisors may incur arising out of
any act or failure to act by MSDW Services in carrying out its responsibilities
hereunder.
8. It is understood that any of the shareholders, Directors/Trustees,
officers and employees of the Fund may be a shareholder, director, officer or
employee of, or be otherwise interested in, MSDW Services, and in any person
controlling, controlled by or under common control with MSDW Services, and that
MSDW Services and any person controlling, controlled by or under common control
with MSDW Services may have an interest in the Fund. It is also understood that
MSDW Services and any affiliated persons thereof or any persons controlling,
controlled by or under common control with MSDW Services have and may have
advisory, management, administration service or other contracts with other
organizations and persons, and may have other interests and businesses, and
further may purchase, sell or trade any securities or commodities for their own
accounts or for the account of others for whom they may be acting.
2
9. This Agreement shall continue until April 30, 1999, and thereafter
shall continue automatically for successive periods of one year unless
terminated by either party by written notice delivered to the other party
within 30 days of the expiration of the then-existing period. Notwithstanding
the foregoing, this Agreement may be terminated at any time, by either party on
30 days' written notice delivered to the other party. In the event that the
Investment Management Agreement between any Fund and MSDW Advisors is
terminated, this Agreement will automatically terminate with respect to such
Fund.
10. This Agreement may be amended or modified by the parties in any manner
by written agreement executed by each of the parties hereto.
11. This Agreement may be assigned by either party with the written
consent of the other party.
12. This Agreement shall be construed and interpreted in accordance with
the laws of the State of New York.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement, as amended, on June 22, 1998 in New York, New York.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ADVISORS
INC.
By:
..................................
Attest:
...................................
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ SERVICES
COMPANY INC.
By:
..................................
Attest:
...................................
3
SCHEDULE A
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FUNDS
AS AMENDED AS OF AUGUST 19, 2002
OPEN-END FUNDS
1. Active Assets California Tax-Free Trust
2. Active Assets Government Securities Trust
3. Active Assets Institutional Government Securities Trust
4. Active Assets Institutional Money Trust
5. Active Assets Money Trust
6. Active Assets Tax-Free Trust
7. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 21st Century Trend Fund
8. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Aggressive Equity Fund
9. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ All Star Growth Fund
10. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ American Opportunities Fund
11. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Growth Fund
12. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Income Fund
13. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Biotechnology Fund
14. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free Daily Income Trust
15. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free Income Fund
16. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital Opportunities Trust
17. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Convertible Securities Trust
18. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Developing Growth Securities Trust
19. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Diversified Income Trust
20. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Dividend Growth Securities Inc.
21. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Equity Fund
22. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ European Growth Fund Inc.
23. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Federal Securities Trust
24. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Financial Services Trust
25. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Fund of Funds
(i) Domestic Portfolio
(ii) International Portfolio
26. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Fundamental Value Fund
27. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Advantage Fund
28. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Dividend Growth Securities
29. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Utilities Fund
30. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Growth Fund
31. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Hawaii Municipal Trust
32. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Health Sciences Trust
33. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Securities Inc.
34. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Builder Fund
35. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Information Fund
36. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Intermediate Income Securities
37. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Fund
38. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International SmallCap Fund
39. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Value Equity Fund
40. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Fund
41. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ KLD Social Index Fund
42. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Latin American Growth Fund
43. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration Fund
44. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration U.S. Treasury Trust
A-1
45. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Term Municipal Trust
46. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Liquid Asset Fund Inc.
47. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Market Leader Trust
48. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mid-Cap Value Fund
49. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Multi-State Municipal Series Trust
50. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Nasdaq-100 Index Fund
51. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Natural Resource Development Securities Inc.
52. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New Discoveries Fund
53. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Municipal Money Market Trust
54. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Tax-Free Income Fund
55. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Next Generation Trust
56. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ North American Government Income Trust
57. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Pacific Growth Fund Inc.
58. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Real Estate Fund
59. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions Investment Series
(i) American Opportunities Portfolio
(ii) Balanced Growth Portfolio
(iii) Capital Opportunities Portfolio
(iv) Developing Growth Portfolio
(v) Diversified Income Portfolio
(vi) Dividend Growth Portfolio
(vii) Emerging Markets Portfolio
(viii) Global Equity Portfolio
(ix) Growth Portfolio
(x) Money Market Portfolio
(xi) North American Government Securities Portfolio
(xii) Utilities Portfolio
(xiii) Value-Added Market Portfolio
60. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Municipal Reinvestment Fund
61. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Growth Fund
62. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Small-Mid Special Value Fund
63. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Value Fund
64. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Strategist Fund
65. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ S&P 500 Index Fund
66. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Exempt Securities Trust
67. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Free Daily Income Trust
68. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Managed Growth Fund
69. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Technology Fund
70. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Total Market Index Fund
71. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Total Return Bond Fund
72. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Total Return Trust
73. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government Securities Trust
74. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government Money Market Trust
75. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Utilities Fund
76. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Value Fund
77. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Value-Added Market Series
78. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment Series
(i) Aggressive Equity Portfolio
(ii) Capital Growth Portfolio
(iii) Dividend Growth Portfolio
(iv) Equity Portfolio
(v) European Growth Portfolio
A-2
(vi) Global Advantage Portfolio
(vii) Global Dividend Growth Portfolio
(viii) High Yield Portfolio
(ix) Income Builder Portfolio
(x) Information Portfolio
(xi) Limited Duration Portfolio
(xii) Money Market Portfolio
(xiii) Quality Income Plus Portfolio
(xiv) Pacific Growth Portfolio
(xv) S&P 500 Index Portfolio
(xvi) Strategist Portfolio
(xvii) Utilities Portfolio
CLOSED-END FUNDS
79. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Income Advantage Trust
80. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Income Advantage Trust II
81. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Income Advantage Trust III
82. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Securities Inc.
83. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Government Income Trust
84. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Bond Trust
85. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Trust
86. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Income Trust
87. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Insured Municipal Income Trust
88. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal Securities
89. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured California Municipal Securities
90. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Investment Trust
91. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Income Trust
92. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal Securities
93. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Quality Municipal Securities
94. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Quality Municipal Securities
A-3
SCHEDULE B
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ SERVICES COMPANY INC.
SCHEDULE OF ADMINISTRATIVE FEES
AS AMENDED AS OF AUGUST 19, 2002
Monthly compensation calculated daily by applying the following annual
rates to a fund's daily net assets:
FIXED INCOME FUNDS
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Income 0.060% of the portion of the daily net assets not exceeding
Fund $500 million; and 0.0575% of the portion of the daily net assets
exceeding $500 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free 0.055% of the portion of the daily net assets not exceeding
Income Fund $500 million; 0.0525% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.050%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.0475% of the portion of the
daily net assets exceeding $1 billion but not exceeding $1.25
billion; and 0.045% of the portion of the daily net assets
exceeding $1.25 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Convertible 0.060% of the portion of the daily net assets not exceeding
Securities Trust $750 million; 0.055% of the portion of the daily net assets
exceeding $750 million but not exceeding $1 billion; 0.050% of
the portion of the daily net assets of the exceeding $1 billion
but not exceeding $1.5 billion; 0.0475% of the portion of the
daily net assets exceeding $1.5 billion but not exceeding $2
billion; 0.045% of the portion of the daily net assets exceeding
$2 billion but not exceeding $3 billion; and 0.0425% of the
portion of the daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Diversified Income 0.040% of the daily net assets.
Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Federal Securities 0.055% of the portion of the daily net assets not exceeding $1
Trust billion; 0.0525% of the portion of the daily net assets exceeding
$1 billion but not exceeding $1.5 billion; 0.050% of the portion
of the daily net assets exceeding $1.5 billion but not exceeding
$2 billion; 0.0475% of the portion of the daily net assets
exceeding $2 billion but not exceeding $2.5 billion; 0.045% of
the portion of the daily net assets exceeding $2.5 billion but
not exceeding $5 billion; 0.0425% of the portion of the daily
net assets exceeding $5 billion but not exceeding $7.5 billion;
0.040% of the portion of the daily net assets exceeding $7.5
billion but not exceeding $10 billion; 0.0375% of the portion of
the daily net assets exceeding $10 billion but not exceeding
$12.5 billion; and 0.035% of the portion of the daily net assets
exceeding $12.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Hawaii Municipal 0.035% of the daily net assets.
Trust
B-1
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Securities 0.050% of the portion of the daily net assets not exceeding
Inc. $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $2 billion;
0.0325% of the portion of the daily net assets exceeding $2
billion but not exceeding $3 billion; and 0.030% of the portion
of daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Intermediate Income 0.060% of the portion of the daily net assets not exceeding
Securities $500 million; 0.050% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.040%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; and 0.030% of the portion of the
daily net assets exceeding $1 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration 0.070% of the daily net assets.
Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Duration 0.035% of the daily net assets.
U.S. Treasury Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Limited Term 0.050% of the daily net assets.
Municipal Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Multi-State 0.035% of the daily net assets.
Municipal Series Trust (4 Series)
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Tax-Free 0.055% of the portion of the daily net assets not exceeding
Income Fund $500 million; and 0.0525% of the portion of the daily net assets
exceeding $500 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ North American 0.039% of the portion of the daily net assets not exceeding
Government Income Trust $3 billion; and 0.036% of the portion of the daily net assets
exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions
Investment Series--Diversified
Income Portfolio 0.040% of the daily net assets.
North American Government 0.039% of the daily net assets.
Securities Portfolio
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Municipal 0.050% of the daily net assets.
Reinvestment Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Exempt 0.050% of the portion of the daily net assets not exceeding
Securities Trust $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.25 billion;
0.0325% of the portion of the daily net assets exceeding $1.25
billion but not exceeding $2.5 billion; and 0.030% of the
portion of daily net assets exceeding $2.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Total Return 0.045% of the daily net assets.
Bond Fund
B-2
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government 0.050% of the portion of the daily net assets not exceeding $1
Securities Trust billion; 0.0475% of the portion of the daily net assets exceeding
$1 billion but not exceeding $1.5 billion; 0.045% of the portion
of the daily net assets exceeding $1.5 billion but not exceeding
$2 billion; 0.0425% of the portion of the daily net assets
exceeding $2 billion but not exceeding $2.5 billion; 0.040% of
the portion of the daily net assets exceeding $2.5 billion but
not exceeding $5 billion; 0.0375% of the portion of the daily
net assets exceeding $5 billion but not exceeding $7.5 billion;
0.035% of the portion of the daily net assets exceeding $7.5
billion but not exceeding $10 billion; 0.0325% of the portion of
the daily net assets exceeding $10 billion but not exceeding
$12.5 billion; and 0.030% of the portion of the daily net assets
exceeding $12.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment 0.050% of the portion of the daily net assets not exceeding
Series--High Yield Portfolio $500 million; and 0.0425% of the daily net assets exceeding
$500 million.
Quality Income Plus Portfolio 0.050% of the portion of the daily the net assets not exceeding
$500 million; and 0.045% of the portion of the daily net assets
exceeding $500 million.
Limited Duration Portfolio 0.045% of the daily net assets.
EQUITY FUNDS
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 21st Century Trend 0.075% of the daily net assets.
Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Aggressive Equity 0.075% of the portion of the daily net assets not exceeding $2
Fund billion; and 0.0725% of the portion of the daily net assets
exceeding $2 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ All Star Growth 0.03% of the daily net assets.
Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ American 0.0625% of the portion of the daily net assets not exceeding
Opportunities Fund $250 million; 0.050% of the portion of the daily net assets
exceeding $250 million but not exceeding $2.25 billion; 0.0475%
of the portion of the daily net assets exceeding $2.25 billion
but not exceeding $3.5 billion; 0.0450% of the portion of the
daily net assets exceeding $3.5 billion but not exceeding $4.5
billion; and 0.0425% of the portion of the daily net assets
exceeding $4.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Growth 0.060% of the portion of the daily net assets not exceeding
Fund $500 million; and 0.0575% of the portion of the daily net assets
exceeding $500 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Biotechnology Fund 0.10% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital 0.045% of the portion of the daily net assets not exceeding
Opportunities Trust $500 million; 0.0435% of the portion of the daily net assets
exceeding $500 million but not exceeding $2 billion; 0.042% of
the portion of the daily net assets exceeding $2 billion but not
exceeding $3 billion; and 0.0405% of the portion of the daily
net assets exceeding $3 billion.
B-3
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Developing Growth 0.050% of the portion of the daily net assets not exceeding
Securities Trust $500 million; and 0.0475% of the portion of the daily net assets
exceeding $500 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Dividend Growth 0.0625% of the portion of the daily net assets not exceeding
Securities Inc. $250 million; 0.050% of the portion of the daily net assets
exceeding $250 million but not exceeding $1 billion; 0.0475% of
the portion of the daily net assets exceeding $1 billion but not
exceeding $2 billion; 0.045% of the portion of the daily net
assets exceeding $2 billion but not exceeding $3 billion;
0.0425% of the portion of the daily net assets exceeding $3
billion but not exceeding $4 billion; 0.040% of the portion of
the daily net assets exceeding $4 billion but not exceeding $5
billion; 0.0375% of the portion of the daily net assets exceeding
$5 billion but not exceeding $6 billion; 0.035% of the portion of
the daily net assets exceeding $6 billion but not exceeding $8
billion; 0.0325% of the portion of the daily net assets exceeding
$8 billion but not exceeding $10 billion; 0.030% of the portion
of the daily net assets exceeding $10 billion but not exceeding
$15 billion; and 0.0275% of the portion of the daily net assets
exceeding $15 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Equity Fund 0.051% of the portion of the daily net assets not exceeding
$500 million; 0.0495% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; and
0.048% of the portion of the daily net assets exceeding $1
billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ European Growth 0.057% of the portion of the daily net assets not exceeding
Fund Inc. $500 million; 0.054% of the portion of the daily net assets
exceeding $500 million but not exceeding $2 billion; 0.051% of
the portion of the daily net assets exceeding $2 billion but not
exceeding $3 billion; and 0.0495% of the portion of the daily
net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Financial Services 0.075% of the portion of the daily net assets not exceeding
Trust $500 million; 0.0725% of the portion of the daily net assets
exceeding $500 million but not exceeding $1.0 billion; and
0.070% of the portion of the daily net assets exceeding $1.0
billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Fund of Funds--
Domestic Portfolio None
International Portfolio None
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Fundamental Value 0.075% of the daily net assets.
Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Advantage 0.065% of the portion of the daily net assets not exceeding $1.5
Fund billion; and 0.0625% of the portion of the daily net assets
exceeding $1.5 billion.
B-4
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Dividend 0.075% of the portion of the daily net assets not exceeding $1
Growth Securities billion; 0.0725% of the portion of the daily net assets exceeding
$1 billion but not exceeding $1.5 billion; 0.070% of the portion
of the daily net assets exceeding $1.5 billion but not exceeding
$2.5 billion; 0.0675% of the portion of the daily net assets
exceeding $2.5 billion but not exceeding $3.5 billion; 0.0650%
of the portion of the daily net assets exceeding $3.5 billion but
not exceeding $4.5 billion; and 0.0625% of the portion of the
daily net assets exceeding $4.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Utilities Fund 0.065% of the portion of daily net assets not exceeding $500
million; 0.0625% of the portion of daily net assets exceeding
$500 million but not exceeding $1 billion; 0.060% of the
portion of daily net assets exceeding $1 billion but not
exceeding $1.5 billion; and 0.0575% of the portion of daily net
assets exceeding $1.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Growth Fund 0.048% of the portion of daily net assets not exceeding
$750 million; 0.045% of the portion of daily net assets
exceeding $750 million but not exceeding $1.5 billion; and
0.042% of the portion of daily net assets exceeding $1.5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Health Sciences 0.10% of the portion of daily net assets not exceeding $500
Trust million; 0.095% of the portion of daily net assets exceeding
$500 million but not exceeding $1 billion; and 0.0925% of the
portion of daily net assets exceeding $1 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Builder 0.075% of the portion of the net assets not exceeding
Fund $500 million; and 0.0725% of the portion of daily net assets
exceeding $500 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Information Fund 0.075% of the portion of the daily net assets not exceeding
$500 million; 0.0725% of the portion of the daily net assets
exceeding $500 million but not exceeding $3 billion; and
0.070% of the portion of the daily net assets exceeding $3
billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Fund 0.060% of the portion of daily net assets not exceeding $1
billion; and 0.057% of the portion of daily net assets exceeding
$1 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International 0.069% of the daily net assets.
SmallCap Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Value 0.10% of the daily net assets.
Equity Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Fund 0.057% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ KLD Social 0.040% of the daily net assets.
Index Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Latin American 0.075% of the portion of the daily net assets not exceeding
Growth Fund $500 million; and 0.0725% of the portion of the daily net assets
exceeding $500 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Market Leader Trust 0.075% of the portion of the daily net assets not exceeding $1
billion; and 0.0725% of the portion of the daily net assets
exceeding $1 billion.
B-5
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Mid-Cap Value Fund 0.080% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Nasdaq-100 0.040% of the daily net assets.
Index Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Natural Resource 0.0625% of the portion of the daily net assets not exceeding
Development Securities Inc. $250 million and 0.050% of the portion of the daily net assets
exceeding $250 million.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New Discoveries 0.060% of the daily net net assets.
Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Next Generation 0.075% of the daily net net assets.
Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Pacific Growth Fund 0.057% of the portion of the daily net assets not exceeding $1
Inc. billion; 0.054% of the portion of the daily net assets exceeding
$1 billion but not exceeding $2 billion; and 0.051% of the
portion of the daily net assets exceeding $2 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Real Estate Fund 0.060% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions
Investment Series--
American Opportunities Portfolio 0.0625% of the portion of the daily net assets not exceeding
$500 million; 0.060% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; and
0.0575% of the portion of the daily net assets exceeding $1
billion.
Balanced Growth Portfolio 0.065% of the daily net assets.
Capital Opportunities Portfolio 0.075% of the daily net assets
Developing Growth Portfolio 0.050% of the daily net assets.
Dividend Growth Portfolio 0.0625% of the portion of the daily net assets not exceeding
$500 million; 0.050% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; and
0.0475% of the portion of the daily net assets exceeding $1
billion.
Emerging Markets Portfolio 0.075% of the daily net assets.
Global Equity Portfolio 0.10% of the daily net assets.
Growth Portfolio 0.048% of the daily net assets.
Utilities Portfolio 0.065% of the daily net assets.
Value-Added Market Portfolio 0.050% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Small-Mid Special 0.070% of the daily net assets.
Value Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Growth Fund 0.060% of the portion of the daily net assets not exceeding $1.5
billion; and 0.057% of the portion of the daily net assets
exceeding $1.5 billion.
B-6
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Special Value Fund 0.075% of the portion of the daily net assets not exceeding
$500 million; 0.0725% of the portion of daily net assets
exceeding $500 million but not exceeding $1.0 billion; and
0.070% of the portion of daily net assets exceeding $1.0 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Strategist Fund 0.060% of the portion of the daily net assets not exceeding
$500 million; 0.055% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; 0.050% of
the portion of the daily net assets exceeding $1 billion but not
exceeding $1.5 billion; 0.0475% of the portion of the daily net
assets exceeding $1.5 billion but not exceeding $2 billion;
0.045% of the portion of the daily net assets exceeding $2
billion but not exceeding $3 billion; and 0.0425% of the portion
of the daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ S&P 500 Index Fund 0.040% of the portion of the daily net assets not exceeding $1.5
billion; 0.0375% of the portion of daily net assets exceeding
$1.5 billion but not exceeding $3 billion; and 0.035% of the
portion of daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Managed 0.051% of the daily net assets.
Growth Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Technology Fund 0.060% of the daily net assets.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Total Market Index 0.040% of the daily net assets.
Fund
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Total Return Trust 0.045% of the portion of the daily net assets not exceeding
$500 million; 0.0435% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; and
0.042% of the portion of the daily net assets exceeding $1
billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Utilities Fund 0.065% of the portion of the daily net assets not exceeding
$500 million; 0.055% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; 0.0525% of
the portion of the daily net assets exceeding $1 billion but not
exceeding $1.5 billion; 0.050% of the portion of the daily net
assets exceeding $1.5 billion but not exceeding $2.5 billion;
0.0475% of the portion of the daily net assets exceeding $2.5
billion but not exceeding $3.5 billion; 0.045% of the portion of
the daily net assets exceeding $3.5 but not exceeding $5 billion;
and 0.0425% of the daily net assets exceeding $5 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Value Fund 0.060% of the portion of the daily net assets not exceeding $1.0
billion; and 0.054% of the portion of daily net assets exceeding
$1 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Value-Added Market 0.050% of the portion of the daily net assets not exceeding
Series $500 million; 0.45% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; 0.0425% of
the portion of the daily net assets exceeding $1.0 billion but
not exceeding $2.0 billion; and 0.040% of the portion of the
daily net assets exceeding $2 billion.
B-7
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment
Series--
Aggressive Equity Portfolio 0.075% of the daily net assets.
Capital Growth Portfolio 0.065% of the daily net assets.
Dividend Growth Portfolio 0.0625% of the portion of the daily net assets not exceeding
$500 million; 0.050% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; 0.0475% of
the portion of the daily net assets exceeding $1.0 billion but
not exceeding $2.0 billion; 0.045% of the portion of the daily
net assets exceeding $2 billion but not exceeding $3 billion; and
0.0425% of the portion of the daily net assets exceeding $3
billion.
Equity Portfolio 0.050% of the portion of the daily net assets not exceeding $1
billion; 0.0475% of the portion of the daily net assets exceeding
$1 billion but not exceeding $2 billion; and 0.045% of the
portion of the daily net assets exceeding $2 billion.
European Growth Portfolio 0.057% of the portion of the daily net assets not exceeding
$500 million; and 0.054% of the portion of the daily net assets
exceeding $500 million.
Global Advantage Portfolio 0.065% of the daily net assets.
Global Dividend Growth Portfolio 0.075% of the portion of the daily net assets not exceeding $1
billion; and 0.0725% of the portion of daily net assets
exceeding $1 billion.
Income Builder Portfolio 0.075% of the daily net assets.
Information Portfolio 0.075% of the daily net assets.
Pacific Growth Portfolio 0.057% of the daily net assets.
S&P 500 Index Portfolio 0.040% of the daily net assets.
Strategist Portfolio 0.050% of the portion of the daily net assets not exceeding $1.5
billion; and 0.0475% of the portion of the daily net assets
exceeding $1.5 billion.
Utilities Portfolio 0.065% of the portion of the daily net assets not exceeding
$500 million; 0.055% of the portion of the daily net assets
exceeding $500 million but not exceeding $1 billion; and
0.0525% of the portion of the daily net assets exceeding $1
billion.
B-8
MONEY MARKET FUNDS
Active Assets Trusts:
(1) Active Assets Tax-Free Trust 0.050% of the portion of the daily net assets not exceeding
$500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; 0.025% of the portion
of the daily net assets exceeding $3 billion but not exceeding
$15 billion; and 0.0249% of the portion of the daily net assets
exceeding $15 billion.
(2) Active Assets California 0.050% of the portion of the daily net assets not exceeding
Tax-Free Trust $500 million; 0.0425% of the portion of the daily net assets
(3) Active Assets Government exceeding $500 million but not exceeding $750 million; 0.0375%
Securities Trust of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; 0.025% of the portion
of the daily net assets exceeding $3 billion
(4) Active Assets Money Trust 0.050% of the portion of the daily net assets not exceeding
$500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; 0.025% of the portion
of the daily net assets exceeding $3 billion but not exceeding
$15 billion; 0.0249% of the portion of the daily net assets
exceeding $15 billion but not exceeding $17.5 billion; 0.0248%
of the portion of the daily net assets exceeding $17.5 billion
but not exceeding $25 billion; 0.0247% of the portion of the
daily net assets exceeding $25 billion but not exceeding $30
billion; and 0.0246% of the portion of daily net assets
exceeding $30 billion.
(5) Active Assets Institutional 0.015% of the daily net assets.
Money Trust
B-9
(6) Active Assets Institutional 0.015% of the daily net assets.
Government Securities
Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Tax-Free 0.050% of the portion of the daily net assets not exceeding
Daily Income Trust $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; and 0.025% of the
portion of the daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Liquid Asset Fund 0.050% of the portion of the daily net assets not exceeding
Inc. $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.35 billion;
0.0325% of the portion of the daily net assets exceeding $1.35
billion but not exceeding $1.75 billion; 0.030% of the portion of
the daily net assets exceeding $1.75 billion but not exceeding
$2.15 billion; 0.0275% of the portion of the daily net assets
exceeding $2.15 billion but not exceeding $2.5 billion; 0.025%
of the portion of the daily net assets exceeding $2.5 billion but
not exceeding $15 billion; 0.0249% of the portion of the daily
net assets exceeding $15 billion but not exceeding $17.5 billion;
0.0248% of the portion of the daily net assets exceeding $17.5
billion but not exceeding $25 billion; 0.0247% of the portion of
the daily net assets exceeding $25 billion but not exceeding $30
billion; and 0.0246% of the portion of daily net assets
exceeding $30 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Municipal 0.050% of the portion of the daily net assets not exceeding
Money Market Trust $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; and 0.025% of the
portion of the daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Select Dimensions 0.050% of the daily net assets.
Investment Series--
Money Market Portfolio
B-10
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Free Daily 0.050% of the portion of the daily net assets not exceeding
Income Trust $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; and 0.025% of the
portion of the daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Government 0.050% of the portion of the daily net assets not exceeding
Money Market Trust $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; 0.0375%
of the portion of the daily net assets exceeding $750 million
but not exceeding $1 billion; 0.035% of the portion of the daily
net assets exceeding $1 billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net assets exceeding $1.5
billion but not exceeding $2 billion; 0.030% of the portion of
the daily net assets exceeding $2 billion but not exceeding $2.5
billion; 0.0275% of the portion of the daily net assets exceeding
$2.5 billion but not exceeding $3 billion; and 0.025% of the
portion of the daily net assets exceeding $3 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Variable Investment 0.050% of the portion of the daily net assets not exceeding
Series--Money Market Portfolio $500 million; 0.0425% of the portion of the daily net assets
exceeding $500 million but not exceeding $750 million; and
0.0375% of the portion of the daily net assets exceeding
$750 million.
Monthly compensation calculated weekly by applying the following annual
rates to a fund's weekly net assets:
CLOSED-END FUNDS
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Government Income 0.060% of the average weekly net assets.
Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Income 0.075% of the portion of the average weekly net assets not
Advantage Trust exceeding $250 million; 0.060% of the portion of average
weekly net assets exceeding $250 million and not exceeding
$500 million; 0.050% of the portion of average weekly net
assets exceeding $500 million and not exceeding $750 million;
0.040% of the portion of average weekly net assets exceeding
$750 million and not exceeding $1 billion; and 0.030% of the
portion of average weekly net assets exceeding $1 billion.
B-11
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Income 0.075% of the portion of the average weekly net assets not
Advantage Trust II exceeding $250 million; 0.060% of the portion of average
weekly net assets exceeding $250 million and not exceeding
$500 million; 0.050% of the portion of average weekly net
assets exceeding $500 million and not exceeding $750 million;
0.040% of the portion of average weekly net assets exceeding
$750 million and not exceeding $1 billion; and 0.030% of the
portion of average weekly net assets exceeding $1 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ High Income 0.075% of the portion of the average weekly net assets not
Advantage Trust III exceeding $250 million; 0.060% of the portion of average
weekly net assets exceeding $250 million and not exceeding
$500 million; 0.050% of the portion of average weekly net
assets exceeding $500 million and not exceeding $750 million;
0.040% of the portion of the average weekly net assets
exceeding $750 million and not exceeding $1 billion; and
0.030% of the portion of average weekly net assets exceeding
$1 billion.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Income Securities 0.050% of the average weekly net assets.
Inc.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal 0.035% of the average weekly net assets.
Bond Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal 0.035% of the average weekly net assets.
Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal 0.035% of the average weekly net assets.
Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Insured 0.035% of the average weekly net assets.
Municipal Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal 0.035% of the average weekly net assets.
Investment Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ New York Quality 0.035% of the average weekly net assets.
Municipal Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal 0.035% of the average weekly net assets.
Income Trust
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Quality Municipal 0.035% of the average weekly net assets.
Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ California Quality 0.035% of the average weekly net assets.
Municipal Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured Municipal 0.035% of the average weekly net assets.
Securities
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Insured California 0.035% of the average weekly net assets.
Municipal Securities
B-12