Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take A - Provide consultation as testing to Establish qualification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. required.
Appears in 6 contracts
Samples: Administration Agreement (Eclipse Funds), Administration Agreement (Eclipse Funds), Master Fund Sub (Mainstay Funds)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Quarterly Perform asset Diversification Perform asset diversification qualifying income testing on quarterly basis and as may otherwise be necessary. Follow up on issues. Continuously monitor portfolio activity in conjunction with IRS requirements. Review test results and take A - Provide consultation as testing to Establish qualification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax positions taken. A- In conjuction with MassMutual and tax service provider, consult as needed on tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. C- Provide consulation as needed. Xxxxxxxx Xxxxx Xxxxxx Bank and Trust Company MML Investment Advisers, LLC Suggested Fund Auditor or Counsel TREASURY SERVICES Prepare the Fund's annual expense budget. Establish daily accruals. Frequency: Annually (or as needed for new funds) Prepare preliminary expense budget. Notify fund accounting of new accrual rates. Provide asset level projections. Approve expense budget. Monitor the Fund's expense budget. Review the Fund's multi-class expense differentials. Frequency: Quarterly/Monthly (custody) Monitor actual expenses updating budgets/expense accruals. Review expense differentials among classes to ensure consistency with Rule 18f-3 or the Fund’s exemptive application and the Fund’s private letter ruling or published ruling. Provide asset level projections quarterly. Provide vendor information as necessary. Timely report potential violations Review expense analysis and approve budget revisions. C/A - Provide consultation as requested. Receive and coordinate payment of fund and escrow expenses. Propose allocations of invoice among Funds and obtain authorized approval to process payment. Approve invoices and allocations of payments. Send invoices to State Street in a timely manner. Frequency: As often as necessary Xxxxxxxx Xxxxx Xxxxxx Bank and Trust Company MML Investment Advisers, LLC Suggested Fund ManagementAuditor or Counsel Prepare Quarterly Deferred Compensation statemements for fund Trustees. FollowCalculate quarterly gain/loss on shadow investments and prepare statements. Deliver statements to Trustees. Approve calculations and statements. Communicate any change in status to State Street in a timely manner. C - Provide consultation as requested. Frequency: Quarterly TREASURY SERVICES Review the Fund's multi-up on issuesclass dividend calculation procedures. Calculate periodic dividend rates to be declared in accordance with management guidelines. Frequency: Annually (Spillback & Excise) (or as required for closing/merging funds) Calculate dividends in accordance with methodology for each class to ensure consistency with Rule 18f-3 or the Fund’s exemptive application and the Fund's private letter ruling or published ruling. Calculate amounts available for distribution. Coordinate review by management and auditors. Notify custody and transfer agent of authorized dividend rates in accordance with Board approved policy. Establish and maintain dividend and distribution policies. Review and approve dividend calculation methodologies for each class. Approve distribution rates per share and aggregate amounts. Obtain Board approval when required. A - Review and approve dividend calculation methodology for each class of shares. Provide consultation as requested. A - Review and concur with proposed distributions (annually and spillback). Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. Provide total return calculations. Provide one month, three month, one year, five year, year-to-date and inception (various) performance calculations on a monthly basis. Also, include five year and since inception average annual calculations. Review performance information prepared by State Street. Prepare additional performance calculations utilizing historical SIA performance. Frequency: Monthly Prepare responses to major industry questionnaires such as Lipper, ICI, Morningstar. Prepare, coordinate as necessary, and submit responses to the appropriate agency. Identify the services to which the Funds report. Provide information as requested. Frequency: As often as necessary Prepare financial information for presentation to Fund Management and Board of Directors. Prepare selected portfolio and financial information for inclusion in connection board material. Review financial information. Frequency: Quarterly FINANCIAL REPORTING Coordinate the annual audit, semi-annual preparation and printing of financial statements and notes, with postmanagement, fund accounting and the fund auditors. Provide quarterly Part F for client’s N-effective amendment filingsPORT filing Draft and manage production cycle. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budgetAssist in resolution of accounting issues. Establish daily accrualsDraft statements and coordinate auditor and management review, and clear comments. budget. Notify mutual fund projectionsCoordinate production of Management Discussion and Analysis. Approve expense accounting production cycle and assist in managing to the cycle. Coordinate review and approval by portfolio managers of new accrual ratesportfolio listings to be included in financial statements. budgetPrepare appropriate management letter. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budgetReview and approve entire report. Monitor actual expenses updating Provide asset level projections Mail reports to shareholders. Make appropriate representations in conjunction with audit. A - Perform audit and issue opinion on annual financial statements. A/C - Review reports. Frequency: Quarterly Part F, Semiannual and Annual NCSR TREASURY SERVICES Prepare amendments to Registration Statement. Frequency: Annual update (includes updating financial highlights, expense tables, ratios) Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor information as requested. expense differentialsCoordinate the preparation and filing of post-effective amendments. applicableCoordinate with outside printers the Xxxxx conversion, review expense filing with the SEC. Provide updates on board actions taken that would impact the registration structure. Coordinate printing of prospectus with third party vendor. Review and approve. Mail to shareholders. A - Provide consents as appropriate. Prepare Prospectus/SAI supplements. Provide information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distributionrequested. Coordinate review the preparation of Prospectus and distribution policiesSAI supplements. resolutions in conjunction management guidelinesFile with the SEC via Xxxxx. by Fund Management and/or Approve distribution rates per Review and approve. Coordinate printing of supplements. Frequency: As often as required TREASURY SERVICES Coordinate the preparation and filing of Form 24f-2 Notice. Accumulate capital stock information and draft Form 24f-2 Notice. Coordinate filing of approved Form with Board approvalSEC via Xxxxx. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. requiredfiling.
Appears in 2 contracts
Samples: Sub Administration Agreement (MassMutual Advantage Funds), Sub Administration Agreement (Massmutual Premier Funds)
Frequency. MONTHLY SUGGESTED FUND AUDITOR As often as required Preparation and filing of 24f-2 Accumulate capital stock Review and approve filing. C - Approve 24f-2 Notice. Notice. information and draft Form 24f-2. Notice. File approved Form with A - Review informally SEC via Xxxxx. when requested Frequency: Annually Proxy Material/Shareholder Meetings Prepare drafts of proxy material Review and approve proxy. C - Review and approve for review, file materials or proxy. coordinate filing with SEC and coordinate printing. Assist proxy solicitation firm and prepare scripts. Attend meeting and prepare minutes. Frequency: As needed Suggested Fund Auditor Function Investors Bank & Trust Barclays Global Investors or Counsel ------------------------------------ --------------------------------- ----------------------------- ---------------------- Assist in updating of fidelity bond Make annual filing of fidelity Obtain required fidelity insurance coverage. bond insurance material with the bond insurance coverage. SEC. Monitor level of fidelity bond insurance maintained Frequency: Annually in accordance with required coverage. ------------------------------------ LEGAL (ACONT.) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL ------------------------------------ Respond to regulatory audits. Compile and provide documentation Coordinate with regulatory C - Provide consultation pursuant to audit requests. auditors to provide as needed. Frequency: As needed (Cat least Assist client in resolution of requested documentation and annually) ----------------------------------- audit inquiries. resolutions to inquiries. Suggested Fund Auditor Function Investors Bank & Trust Barclays Global Investors or Counsel ------------------------------------ --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take ----------------------------- ---------------------- ------------------------------------ TAX ------------------------------------ Prepare income tax provisions. Calculate investment company Provide transaction A - Provide consultation taxable income, net tax exempt information as testing to Establish qualification tests at each tax quarter endrequested. any necessary action. Approve as needed in establishing as a RIC. Timely report potential tax positions taken. interest, net capital gain and Identify Passive Foreign positions to be taken in violations to Fund Managementspillback dividend requirements. Investment Companies tax treatment of particular FREQUENCY: QUARTERLY FollowIdentify book-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a tax accounting (on book basis income, unless any necessary actionPFICs). Approve tax particular issues. differences. Track required accounting positions to RIC. material differences are tax positions be Perform review in information relating to taken. Approve provisions. conjunction with the Frequency: Annually accounting differences. year-end audit. Suggested Fund Auditor Function Investors Bank & Trust Barclays Global Investors or Counsel ---------------------------------- --------------------------------- --------------------------- ------------------------- Calculate excise tax distributions Calculate required distributions Provide transaction A - Provide consultation to avoid imposition of excise tax. information as requested. as needed in establishing - Calculate capital gain net Identify Passive Foreign positions to be taken in income and foreign currency Investment Companies tax treatment of gain/loss through October 31. (PFICs). Approve tax particular issues. - Calculate ordinary income and accounting positions to be Review and concur with distributions through a taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be auditapprove proposed distributions specified cut off date. necessaryall income and distribution per share. Timely report potential violations - Project ordinary income from calculations, including cut off date to Fund ManagementDecember 31. Follow-up on issuesprojected income and - Ascertain dividend shares. Calculate total return information Provide total return Review total return informationdividend shares. on Funds as defined in the current calculations. Provide afterApprove Identify book-tax Prospectus accounting distribution rates per share differences. Track required and SAIaggregate amounts. calculations in connection with post-effective amendment filingsinformation relating to Obtain Board approval when accounting differences. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distributionrequired. Coordinate review by management and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. fund auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved Frequency: Annually policy. Report methodology for multi-class dividends to Board as required. fundsTAX (CONT.) ---------------------------------- Suggested Fund Auditor Function Investors Bank & Trust Barclays Global Investors or Counsel ---------------------------------- --------------------------------- --------------------------- ------------------------ Prepare tax returns Prepare excise and RIC tax Review and sign tax return. Provide consultation A - Review and sign tax returns. return as preparer. Frequency: Annually Prepare Form 1099 Obtain Board approval when as requestedyearly distribution Review and approve information. required.Calculate 1099 information provided for reclasses and coordinate with Form 1099. Frequency: Annually transfer agent. Prepare other year-end tax-related Obtain yearly income distribution Review and approve disclosures information. Calculate information provided. disclosures (i.e., dividend received deductions, foreign tax credits, Frequency: Annually tax-exempt income, income by jurisdiction) and coordinate with transfer agent. Schedule C Fee Schedule* Exchange Traded Funds March 8, 2000 ================================================================================ CUSTODY, FUND ACCOUNTING, ADMINISTRATION, and INSTITUTIONAL TRANSFER AGENCY ================================================================================ Assumptions used in developing the fee schedule: -The launch of the 36 new funds will begin around May 1, 2000. -BGI will use IBT for securities lending for a minimum of 2.5 years from the date that at least 14 funds are serviced by Investors Bank. -BGI will use IBT for foreign exchange. -BGI will use IBT for custody, fund accounting, administration and transfer agency services. -IBT will provide accounting information to BGI for the PCF file. ================================================================================ CUSTODY ================================================================================
Appears in 2 contracts
Samples: Administration Agreement (Ishares Trust), Administration Agreement (Ishares Trust)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Monthly Perform asset diversification Review test results and take Perform asset Oversee BGI's continuous A - Provide consultation as testing to Establish qualification establish diversification tests at monitoring of portfolio needed in establishing qualification as a RIC. each tax quarter end. any necessary action. Approve needed activity in establishing as a RIC. Timely report potential tax positions taken. conjunction positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. with IRS requirements. treatment of particular issues. Frequency: Quarterly Review test results and Review quarter end tests on a take any necessary action. current basis. Approve tax positions taken. Perform qualifying income testing Perform qualifying income Oversee BGI's continuous A- Consult as needed on tax testing to establish testing (on book basis monitoring of portfolio accounting positions to be qualification as a RIC. income, unless material activity in conjunction taken. Review in conjunction differences are anticipated) with IRS requirements. with year-end audit. Frequency: Quarterly on quarterly basis and as Review test results and may otherwise be take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on Approve tax positions taken. issues. Prepare the Fund's annual Prepare preliminary expense Provide asset level expense budget. Establish daily budget. Notify fund projections. Approve accruals. accounting of new accrual expense budget. rates. Frequency: Annually Monitor the Fund's expense Monitor actual expenses Provide asset level C/A - Provide consultation as budget. updating budgets/ expense projections quarterly. requested. accruals. Provide vendor information Frequency: Quarterly as necessary. Review expense analysis and approve budget revisions. Receive and coordinate payment Propose allocations of Approve invoices and of fund expenses. invoice among Funds and allocations of payments. obtain authorized approval Send invoices to IBT in a Frequency: As necessary to process payment. timely manner. Calculate periodic dividend Calculate amounts available Establish and maintain C - Review dividend rates and capital gains for distribution. dividend and distribution resolutions in conjunction with distributions to be declared in Coordinate review by policies. Approve Board approval. accordance with management management and/or auditors. distribution rates per guidelines. Notify custody and transfer share and aggregate A - Review and concur with agent of authorized dividend amounts. Obtain Board proposed distributions, annual Frequency: Quarterly/Annually rates in accordance with approval when required. and excise only. Board approved policy. Report dividends to Board as required. Calculate total return information Provide total return Review total return information. information on Funds as defined calculations. Returns information. in the current calculations. Provide after-tax Prospectus and consist of monthly, SAI. calculations in connection with post-effective amendment filingsquarterly, YTD, since inception and average annual Frequency: Monthly since inception. FREQUENCYPrepare responses to major Prepare, coordinate as Identify the services to industry questionnaires. necessary, and submit which the Funds report. responses to the appropriate Provide information as Frequency: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budgetAs often as necessary agency. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentialsPrepare disinterested trustee Summarize amounts paid to Provide social security Form 1099-Misc. applicable, review expense information as necessarytrustees during the calendar numbers and current mailing year. differentials among classes to Review expense analysis Prepare and FREQUENCYmail Form address for trustees. Frequency: MONTHLY ensure consistency with Rule approve budget revisionsAnnually 1099-Misc. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with information provided for Form 1099-Misc. ---------------------------------- FINANCIAL REPORTING ---------------------------------- Prepare financial information Prepare information as Review financial for presentation to Fund required. dividend calculation information. Management and Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. requiredof Directors.
Appears in 2 contracts
Samples: Form of Custodian Agreement (X Com Funds), Form of Administration Agreement (X Com Funds)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- QUARTERLY Perform asset Diversification Perform asset diversification Review test results and take A - Provide consultation as qualifying income testing to Establish Perform qualifying income testing Continuously monitor A- Consult as needed on establish qualification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve portfolio activity in tax accounting positions to RIC. material differences are tax positions taken. conjunction with IRS to be taken. Review in anticipated) on quarterly basis requirements. Review test conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be results and take any audit. necessary. Timely report potential violations to Fund Management. Follow-up on necessary action. Approve FREQUENCY: QUARTERLY issues. Calculate total return information Provide total return Review total return informationtax positions taken. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ------------------------------------- Prepare the Funds' Fund's annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund accounting projections. Approve expense accounting of new accrual rates. expense budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM & TRUST XXXXXX ASSOCIATES AND/OR FUND COUNSEL (C) ----------------------------------- ------------------------------------- --------------------------------- -------------------------------- --------------------------- ----------------------------- ------------------------- Monitor the Funds' Fund's expense budget. Monitor actual expenses expenses, updating Provide asset level projections A/C - Provide consultation Review the Funds' Fund's net expense ratios, budgets/ expense accruals. projections. Provide vendor including multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review Review expense differentials information as necessary. differentials differentials. among classes to classes. Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. FREQUENCY: MONTHLY Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. Send invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY timely manner. Calculate periodic dividend rates to Calculate amounts available for Establish Review and maintain approve dividend C C/A - Review dividend to and approve be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction Calculate rates calculation methodologies dividend calculation management guidelines. Review the for each class in accordance with for each class. Approve methodology for each Fund's multi-class dividend approved methodology. Coordinate dividend rate per share and class of shares. Provide calculation procedures. review by Fund Management and/or Approve distribution rates per with Board approvalmanagement and aggregate amounts. Obtain consultation as auditors. Notify custody and share and aggregate amountsBoard approval when required. requested. transfer agent of authorized dividend rates. Report dividends to Board as required. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - POLICY MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ------------------------------------- Prepare responses to major industry Prepare, coordinate as necessary, Identify the services to questionnaires. and submit responses to the which the Funds report. appropriate agency. Provide information as FREQUENCY: AS OFTEN AS NECESSARY requested. Prepare disinterested Summarize amounts paid to Provide social security director/trustee Form 1099-Misc. directors/trustees during the numbers and current mailing calendar year. Prepare and mail address for trustees. Form 1099-Misc. Review and approve POLICY dividend rates FREQUENCY: ANNUALLY information provided for Form 1099-Misc. SUGGESTED FUND AUDITOR FUNCTION INVESTORS BANK & TRUST XXXXXX ASSOCIATES AND/OR COUNSEL ------------------------------------- --------------------------------- ----------------------------- ------------------------- Preparation and filing of 24f-2 Accumulate capital stock Review and approve filing. C - Approve 24f-2 Notice. Notice. information and draft Form 24f-2 Notice. File approved Form with FREQUENCY: ANNUALLY SEC via Xxxxx. ------------------------------------- FINANCIAL REPORTING ------------------------------------- Prepare financial information for Prepare selected financial Review financial presentation to Fund Management, information for client internal information. Board of Directors and shareholders. use, inclusion in accordance board material and distribution to shareholders. Financial information limited to Schedule of Investments and other related tables. FREQUENCY: MONTHLY/QUARTERLY ------------------------------------- FINANCIAL REPORTING (CONT.) ------------------------------------- Coordinate the annual audit and Coordinate the creation of Provide past financial A - Perform audit and semi-annual preparation and printing templates reflecting statements and other issue opinion on annual of financial statements and notes client-selected standardized information required to financial statements. with requiredmanagement, fund accounting and appearance and text of financial create templates, including the fund auditors. dividend calculation Board approved policystatements and footnotes. Report methodology Draft report style and graphics. A/C - Review reports. and manage production cycle. Approve format and text as Coordinate with IBT fund standard. Approve accounting the electronic production cycle and assist receipt of portfolio and general in managing to the cycle. ledgar information. Assist in Coordinate review and resolution of accounting issues. approval by portfolio Using templates, draft financial managers of portfolio statements, coordinate auditor listings to be included in and management review, and clear financial statements. comments. Coordinate transmission Prepare appropriate of draft files to Xxxxxxx to management letter and typeset. Coordinate printing of coordinate production of reports and XXXXX conversion with Management Discussion and outside printer and filing with Analysis. Review and the SEC via XXXXX. approve entire report. Make appropriate representations in conjunction with audit. FREQUENCY: ANNUALLY/SEMI-ANNUALLY SUGGESTED FUND AUDITOR FUNCTION INVESTORS BANK & TRUST XXXXXX ASSOCIATES AND/OR COUNSEL ------------------------------------- --------------------------------- ----------------------------- ------------------------- Prepare and file Form N-SAR. Prepare form for multi-class dividends to Board as requiredfiling. funds. Obtain Provide appropriate C - Provide consultation Obtain Board approval when any necessary supporting responses. Review and as needed. documents. File with SEC via authorize filing. A - Provide annual audit XXXXX. internal control letter TO BE PERFORMED BY R&C. to accompany the annual FREQUENCY: SEMI-ANNUALLY filing. ------------------------------------- TAX ------------------------------------- Prepare income tax provisions. Calculate investment company Provide transaction A - Provide consultation taxable income, net tax exempt information as requested. requiredas needed in establishing interest, net capital gain and Identify Passive Foreign positions to be taken in spillback dividend requirements. Investment Companies tax treatment of Identify book-tax accounting (PFICs). Approve tax particular issues. differences. Track required accounting positions to be Perform review in information relating to taken. Approve provisions. conjunction with the FREQUENCY: ANNUALLY accounting differences. year-end audit.
Appears in 2 contracts
Samples: Custodian Agreement (Harris Associates Investment Trust), +Administration Agreement (Harris Associates Investment Trust)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take A - Provide consultation as testing to Establish qualification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' Fund's annual expense Prepare preliminary expense Provide asset level projections. expense budget. Establish budget. Notify fund accounting Approve expense budget. daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' Fund's expense budget. Monitor actual expenses updating Provide asset level projections AC/C A - Provide consultation Review the Funds' multi-class budgets/expenses budget. budgets/ expense accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. FREQUENCY: MONTHLY SUGGESTED FUND AUDITOR FUNCTION INVESTORS BANK & TRUST RS INVESTMENT TRUST OR COUNSEL ------------------------------- --------------------------------- -------------------------------- -------------------------- MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ------------------------------- Receive and coordinate payment of Propose allocations of invoices invoice Approve invoices and Fund allocations of fund expenses. among Funds and obtain authorized allocations of payments. Send invoices to approval to process payment. invoices to IBT in a timely manner. FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend rates to be declared bedeclared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction with management guidelines. by Fund Management management and/or auditors. Approve distribution rates per with Board approval. auditors. Notify custody and transfer share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized dividend Obtain Board approval when A - Review and approve POLICY dividend concur with rates in accordance with Board required. dividend calculation Board proposed distributions approved policy. Report methodology for multi-class dividends to Board as required. fundsFREQUENCY: MONTHLY/ANNUALLY SUGGESTED FUND AUDITOR FUNCTION INVESTORS BANK & TRUST RS INVESTMENT TRUST OR COUNSEL ------------------------------- --------------------------------- -------------------------------- -------------------------- MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ------------------------------- Calculate total return Provide total return calculations. Provide consultation Obtain Board approval when Review total return information. information on Funds as requested. requireddefined in the current Prospectus and SAI.
Appears in 1 contract
Frequency. MONTHLY QUARTERLY Prepare and file Form N-SAR. Prepare form for filing. Obtain Provide appropriate responses. C - Review initial filing. any necessary supporting Review and authorize filing. FREQUENCY: documents. File with SEC via A - Provide annual audit SEMI-ANNUALLY XXXXX. internal control letter to accompany the annual filing. SUGGESTED FUND AUDITOR (A) OR FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results -------- -------------- ----- ----------------------------- Coordinate the annual audit Serve as project manager for Approve format and take text as A - Provide consultation as testing to Establish qualification tests at each tax quarter end. any necessary actionPerform audit and issue and semi-annual and quarterly creation, production and standard. Approve needed production opinion on annual financial preparation and printing of dissemination of Funds' financial calendar and assist in establishing as a RICmanaging statements. Timely report potential tax positions takenfinancial statements and statements. positions Acquire past to be taken in violations to the schedule. Prepare notes with Fund Management, financial statements and other appropriate management letter. tax treatment of particular A/C - Review reports. IBT mutual fund accounting information required to create Review and approve entire and the Fund auditors. templates, including report style report. Make appropriate and graphics. Draft and manage representations in conjunction FREQUENCY: QUARTERLY FollowSEMI-up on ANNUALLY production calendar. Coordinate with audit. with IBT fund accounting the electronic receipt of portfolio and general ledger information to create financial statements. Coordinate resolution of accounting issues. issuesCoordinate typesetting of Management Discussion and Analysis with rest of financial statements. Review quarter end tests on a current basisUsing templates, draft financial statements, coordinate auditor and management review, and clear comments. Perform qualifying income testing Perform qualifying income testing Review test results Where applicable, coordinate typesetting, printing of reports and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary actionXXXXX conversion with printer and filing with the SEC via XXXXX. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) OR FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor -------- -------------- ----- ----------------------------- Coordinate the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation preparation Draft Form N-CSR, Form N-Q and Review the Funds' multiand approve Form N-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend CSR C - Review dividend to be declared in accordance with distributionForm N-CSR and Form and filing of Form N-CSR and certifications and coordinate and Form N-Q. Forward signed N-Q Form N-Q. management review. Coordinate review Form N-CSR, Form N-Q and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per Xxxxx conversion with Board approval. auditors. Notify custody and share and aggregate amounts. outside certifications to IBT prior to FREQUENCY: ACCORDING TO DIVIDEND transfer agent SEMI-ANNUALLY printer and filing with the SEC filing of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with requiredreport. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. requiredvia Xxxxx.
Appears in 1 contract
Samples: Administration Agreement (Mainstay Vp Series Fund Inc)
Frequency. MONTHLY SUGGESTED FUND AUDITOR Monthly Provide a report of compliance testing results. Review report. A/C – Provide consultation as needed. Function Investors Bank NYLIM Suggested Fund Auditor (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL or Fund Counsel (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take A - Provide consultation as testing to Establish establish qualification as a RIC. Frequency: Quarterly Perform asset diversification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. Review test results and take any necessary action. Approve tax positions taken. A – Provide consultation as needed in establishing positions to be taken in tax treatment of particular issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a RIC. Frequency: Quarterly Perform qualifying income testing (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Review test results and take any necessary action. Approve tax positions taken. A – Consult as needed on tax accounting positions to be taken. Review in conjunction with year-end audit. Calculate total return information Provide total return Review total return information. on Funds as defined in the current Prospectus and SAI. Frequency: Monthly Provide total return calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Review total return information. Prepare the Funds' ’ annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. Frequency: Annually Prepare preliminary expense budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. Provide asset level projections. Approve expense budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR Function Investors Bank NYLIM Suggested Fund Auditor (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL or Fund Counsel (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' ’ expense budget. Review the Funds’ multi-class expense differentials. Frequency: Monthly Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' ’ exemptive application and the Funds' ’ private letter ruling or published ruling. Provide asset level projections quarterly. Provide vendor information as necessary. Review expense analysis and approve budget revisions. A/C – Provide consultation as requested. Receive and coordinate payment of Fund expenses. Frequency: As often as necessary Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized approval to process payment. Approve invoices and allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with management guidelines. Frequency: According to dividend policy Calculate amounts available for distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. Obtain Board approval when required. Establish and maintain dividend and distribution policies. Approve distribution rates per share and aggregate amounts. Obtain Board approval when required. C – Review dividend resolutions in conjunction with Board approval. A – Review and approve dividend calculation methodology for multi-class funds. Provide consultation Obtain Board approval when as requested. required.Function Investors Bank NYLIM Suggested Fund Auditor (A) or Fund Counsel (C) Prepare Director and vendor Form 1099-MISC, as needed. Frequency: Annually Summarize amounts paid during the calendar year to Directors and vendors. Prepare and mail Form 1099-MISC. Obtain social security numbers and current mailing address for Directors. Provide social security numbers and current mailing address for Directors. Prepare selected information for presentation to Fund Management and Board of Directors as NYLIM may reasonably request from time to time. Frequency: Quarterly Prepare selected information for inclusion in board material. Review information. Prepare and file Form N-SAR. Frequency: Semi-annually Prepare form for filing. Obtain any necessary supporting documents. File with SEC via XXXXX. Provide appropriate responses. Review and authorize filing. C – Review initial filing. A – Provide annual audit internal control letter to accompany the annual filing. Function Investors Bank NYLIM Suggested Fund Auditor (A) or Fund Counsel (C) Financial Reporting
Appears in 1 contract
Samples: Master Fund Sub Accounting and Sub Administration Agreement (Mainstay Funds Trust)
Frequency. MONTHLY SUGGESTED FUND AUDITOR QUARTERLY Suggested Fund Function Investors Bank & Trust LSA Sub-Advisor Auditor or Counsel ---------------------------------------------------------------------------------------------------------------------------------- LEGAL (ACONT) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification ------------ Prepare and file Prepare form for filing. Provide appropriate C - Review test results initial Form N-SAR. Obtain any necessary responses. Review and take filing. supporting documents. authorize filing. A - Provide consultation as testing annual File with SEC via XXXXX. audit internal control letter to Establish qualification tests at each tax quarter endaccompany the annual filing. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY FollowSEMI-up on issuesANNUALLY Prepare amendments Coordinate the preparation Review and approve. issues. C - Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY Registration and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with filing of post-effective amendment approve filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budgetStatement. Establish daily accrualsamendments. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections Coordinate with A/C - Provide consultation Review outside printers the Funds' multi-class budgets/expenses accrualsXxxxx consents as conversion, filing with the appropriate. If quarterlySEC and printing of prospectus. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency ANNUAL UPDATE (INCLUDES UPDATING FINANCIAL HIGHLIGHTS, EXPENSE TABLES, RATIOS) PLUS ONE ADDITIONAL FILING PER FISCAL YEAR Prepare Prospectus/ Coordinate, at LSA's request, Review and approve. C - Review and SAI supplements. the preparation and printing approve filings. of Prospectus and SAI A/C - Provide supplements. Coordinate consents as filing with Rule approve budget revisionsthe SEC via Xxxxx. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published rulingappropriate. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY mannerREQUIRED Proxy Material/ Prepare scripts. Calculate periodic dividend rates Calculate amounts available for Establish Attend Review and maintain dividend C - approve C- Review dividend to be declared and Shareholder Meetings meeting and prepare minutes. proxy. approve proxy. FREQUENCY: AS NEEDED Suggested Fund Function Investors Bank & Trust LSA Sub-Advisor Auditor or Counsel ---------------------------------------------------------------------------------------------------------------------------------- LEGAL (CONT) ------------ Assist in updating Make annual filing of Obtain required of fidelity bond fidelity bond insurance. fidelity bond insurance insurance coverage. material with the SEC coverage. Monitor level of fidelity bond insurance maintained in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. requiredrequired coverage.
Appears in 1 contract
Samples: Administration Agreement (Lsa Variable Series Trust)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take tests Continuously monitor portfolio A - Provide consultation as diversification testing to Establish qualification tests at each tax quarter end. any necessary action. Approve Follow-up activity in conjunction with IRS needed in establishing as a RICto establish on issues. Timely report potential tax positions takenrequirements. Review test results positions to be taken in violations to Fund Managementtax qualification as a RIC. tax and take any necessary action. treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issuesApprove tax positions taken. Review quarter end tests on a FREQUENCY: QUARTERLY current basis. --------------------------------- MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) --------------------------------- Perform qualifying income Perform qualifying income testing Perform qualifying income testing Review test results and take A - Continuously monitor portfolio A- Consult as needed on tax testing to establish qualification as a (on book basis income, unless any necessary action. Approve tax activity in conjunction with IRS accounting positions to be qualification as a RIC. material differences are tax positions takenrequirements. be Review test results taken. Review in conjunction anticipated) on quarterly basis conjunction and and take any necessary action. with year-end FREQUENCY: QUARTERLY and audit. as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-Approve tax Prospectus and SAI. calculations in connection with post-effective amendment filingspositions taken. FREQUENCY: MONTHLY QUARTERLY SUGGESTED FUND AUDITOR OR FUNCTION INVESTORS BANK & TRUST DLB COUNSEL ------------------------- ----------------------------------- ---------------------------------- -------------------------------- Prepare the Funds' Fund's annual expense Prepare preliminary expense budget. Provide asset level projections. expense budget. Notify fund accounting of new Approve expense budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. rates FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Fund's Monitor actual expenses updating Provide asset level projections AC/C A - Provide consultation as expense budget. Review the Funds' multi-class budgets/expenses budgets/ expense accruals. If Review quarterly. Provide vendor as requested. the Fund's multi-class expense differentials. applicable, review expense differentials among classes information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY differentials. to ensure consistency with Rule expense analysis and approve 18f-3 or the Fund's exemptive budget revisions. 18f-3 or the Funds' exemptive application and the Funds' Fund's private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. required.
Appears in 1 contract
Frequency. MONTHLY QUARTERLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM & TRUST VANTAGEPOINT OR COUNSEL ---------------------------- -------------------------- ------------------------- ---------------------------- FINANCIAL REPORTING (CONT.) ---------------------------- Coordinate the annual audit Draft and manage production Approve production cycle A - Perform audit and issue and semi-annual preparation cycle. Assist in resolution and assist in managing to opinion on annual financial and printing of financial of accounting issues. Draft the cycle. Coordinate statements. statements and notes with financial statements and review and approval by management, fund accounting coordinate auditor and portfolio managers of and the fund auditors. management review, and clear portfolio listings to be A/C - Review reports. comments. Review and included in financial coordinate filing with the statements. Prepare SEC via EDGAX appropriate management letter and coordinate production of Management Discussion and Analysis. Review and approve entire report. Mail reports to shareholders. Make appropriate FREQUENCY: SEMI-ANNUALLY representations in conjunction with audit. ---------------------------- LEGAL ---------------------------- Prepare and file Form N-SAR. Prepare form for filing. Provide appropriate C - Review initial filing. Obtain any necessary responses. Review and A - Provide annual audit supporting documents. File authorize filing. internal control letter to with SEC via EDGAX. accompany the annual filing. FREQUENCY: SEMI-ANNUALLY Coordinate the preparation Accumulate capital stock Review and approve filing. and filing of Form 24f-2 information and draft Form Notice. 24f-2 Notice. Coordinate filing of approved Form with SEC via Edgax. XREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR FUNCTION INVESTORS BANK & TRUST VANTAGEPOINT OR COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take ---------------------------- -------------------------- ------------------------- ---------------------------- TAX ---------------------------- Prepare income tax Calculate investment Provide transaction A - Provide consultation provisions. company taxable income, information as testing to Establish qualification tests at each tax quarter endrequested. any necessary action. Approve as needed in establishing as a RIC. Timely report potential net tax positions taken. exempt interest, Identify Passive foreign positions to be taken in violations to Fund Management. net capital gain and Investment Companies tax treatment of spillback dividend (PFICs). Approve tax particular issues. Perform requirements. Identify accounting positions to be review in conjunction with book-tax accounting taken. Approve provisions. the year-end audit. differences. Track required information relating to accounting FREQUENCY: QUARTERLY Follow-up on issuesANNUALLY differences. Calculate excise tax Calculate required Provide transaction A - Provide consultation distributions distributions to avoid information as requested. as needed in establishing imposition of excise tax. Identify Passive Foreign positions to be taken in Investment Companies tax treatment of - Calculate capital (PFICs). Approve tax particular issues. Review quarter end tests on a current basis. Perform qualifying gain net income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be and concur with proposed foreign currency taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be auditapprove distributions per share. necessarygain/loss through all income and October 31. Timely report potential violations distribution calculations, including projected income - Calculate ordinary and dividend shares. income and Approve distribution rates distributions per share and aggregate through a specified amounts. Obtain Board cut off date. approval when required. - Project ordinary income from cut off date to Fund ManagementDecember 31. Follow-up on issues- Ascertain dividend shares. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide afterIdentify book-tax Prospectus and SAIaccounting differences. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense Track required information relating to accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distributiondifferences. Coordinate review by management and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. fund auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board FREQUENCY: ANNUALLY as required. fundsSUGGESTED FUND AUDITOR FUNCTION INVESTORS BANK & TRUST VANTAGEPOINT OR COUNSEL ---------------------------- -------------------------- ------------------------- ---------------------------- TAX (CONT.) ---------------------------- Prepare tax returns Prepare excise and RIC Review and sign tax A - Review and sign tax tax return. Provide consultation return. return as preparer. FREQUENCY: ANNUALLY Prepare Form 1099 Obtain Board approval when as requestedyearly distribution Review and approve information. required.Calculate 1099 information provided for reclasses and coordinate Form 1099. with transfer agent. FREQUENCY: ANNUALLY Prepare other year-end Obtain yearly income Review and approve tax-related disclosures distribution information. information provided. Calculate disclosures (i.e., dividend received deductions, foreign tax credits, tax-exempt income, income by jurisdiction) and coordinate with transfer agent. FREQUENCY: ANNUALLY REVIEW AND APPROVAL The attached Summary of Administration Functions dated 1/19/99 has been reviewed and generally represents the services currently being provided. /s/ ANDRXX X. XXXXXX 1/19/99 ------------------------------------------------ ----------------- Investors Bank and Trust Company Date /s/ PAUL X. XXXXXXX 1/21/99 ------------------------------------------------ ----------------- Signature of Authorized Client Representative Date
Appears in 1 contract
Frequency. MONTHLY SUGGESTED FUND AUDITOR AS OFTEN AS NECESSARY Prepare disinterested Summarize amounts paid to Provide social security director/trustee directors/trustees during the numbers and current Form 1099-Misc. calendar year. Prepare Form mailing addresses for 1099-Misc and send to LSA VST trustees. Review and . for mailing to Trustees. approve information provided for Form 1099-Misc FREQUENCY: ANNUALLY FINANCIAL REPORTING Prepare financial Prepare selected portfolio Review financial information for data (Ai.e., top X holdings), information. presentation to financial information (i.e., Fund Management financial highlight data), and Board of and other supporting Trustees. information (i.e., broker commissions, compliance summary, capital stock activity and 144A schedules) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take A - Provide consultation as testing to Establish qualification tests at each tax quarter endfor quarterly board meetings. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY FollowSuggested Fund Function Investors Bank & Trust LSA Sub-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results Advisor Auditor or Counsel ---------------------------------------------------------------------------------------------------------------------------------- FINANCIAL REPORTING (CONT) -------------------------- Coordinate the annual Coordinate the creation of Provide past financial Prepare and take coordinate A - Consult as needed Perform audit audit and semi-annual templates reflecting client- statements and other production of Management and issue opinion preparation and selected standardized information required to Discussion and Analysis. on to establish qualification as a (on book basis incomeannual printing of financial appearance and text of create templates, unless any necessary actionReview and approve financial statements and notes financial statements and including report style portfolio presentation. statements. with management, fund footnotes. Draft and and graphics. Approve tax accounting positions to RICand the manage production cycle. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY format and text as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review fund auditors. Coordinate with IBT fund standard. Approve reports. accounting the Funds' multi-class budgets/expenses accrualselectronic production cycle and receipt of portfolio and assist in managing the general ledger information. If quarterlycycle. Provide vendor as requestedReview and Assist in resolution of approve entire report. expense differentialsaccounting issues. applicableUsing Make appropriate templates, review expense information as necessarydraft financial representations in statements, coordinate conjunction with audit. differentials among classes to Review expense analysis auditor and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application management review, and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distributionclear comments. Coordinate review and distribution policiesapproval by portfolio managers of portfolio listings to be included in financial statements. resolutions in conjunction management guidelines. Coordinate, as requested by Fund Management and/or Approve distribution rates per LSA, printing of reports and XXXXX conversion with Board approval. auditors. Notify custody outside printer and share and aggregate amountsfiling with the SEC via XXXXX. FREQUENCY: ACCORDING TO DIVIDEND transfer agent SEMI-ANNUALLY LEGAL Prepare agenda and Maintain annual calendar of authorized Obtain Board approval when A - Review and approve POLICY dividend rates C - Review agenda, board materials for required quarterly and annual board materials. board material and quarterly board approvals. Prepare agenda, board and committee meetings. resolutions and other board meeting minutes. materials for quarterly board Ensure BOD material meetings. Prepare supporting contains all information and materials when required necessary. Assemble, check, information that and distribute books in accordance with requiredadvance the BOD must review of meeting. dividend calculation Board approved policyAttend board and and/or approve to committee meetings and perform their prepare minutes. Report methodology for multi-class dividends to Board duties as required. funds. Provide consultation Obtain Board approval when as requested. requireddirectors.
Appears in 1 contract
Samples: Administration Agreement (Lsa Variable Series Trust)
Frequency. QUARTERLY Prepare condensed financial Prepare condensed month end Review financial information. information for review by and year-to-date expense Fund Management. information. Prepare selected portfolio information. FREQUENCY: MONTHLY NOVEMBER 1, 1999 FUNCTION INVESTORS BANK & TRUST SEIX INVESTMENT MANAGEMENT SUGGESTED FUND AUDITOR OR COUNSEL ---------------------------------------------------------------------------------------------------------------------------------- Coordinate the annual audit Coordinate the creation of Approve format and text as A - Perform audit and semi-annual preparation templates reflecting standard. Approve production and issue opinion and printing of financial client-selected standardized cycle and assist in on annual financial. statements and notes with appearance and text of financial managing to the cycle. statements management, fund accounting statements and footnotes. Coordinate review and approval A/C - Review and the fund auditors. Draft and manage production cycle. by portfolio managers of reports. Coordinate with IBT fund accounting portfolio listings to be the electronic receipt of included in financial statements. portfolio and general ledger Prepare appropriate management information. Assist in resolution letter and coordinate production of accounting issues. Using of Management Discussion and templates, draft financial Analysis. Review and approve statements, coordinate auditor entire report. Make appropriate and management review, and representations in conjunction clear comments. Coordinate with audit. printing of reports and XXXXX conversion with outside printer and filing with the SEC via XXXXX. FREQUENCY: SEMI-ANNUALLY FINANCIAL REPORTING (ACONT.) --------------------------- Prepare and file Form N-SAR. Prepare form for filing. Provide appropriate responses. C - Review initial Obtain any necessary supporting Review and authorize filing. filing. documents. File with SEC via A - Provide annual Xxxxx. audit internal control letter to accompany the annual filing. FREQUENCY: SEMI-ANNUALLY NOVEMBER 1, 1999 FUNCTION INVESTORS BANK NYLIM & TRUST SEIX INVESTMENT MANAGEMENT SUGGESTED FUND AUDITOR OR COUNSEL ---------------------------------------------------------------------------------------------------------------------------------- Prepare agenda and board Maintain annual calendar of Review and approve board C - Review agenda, materials for quarterly required quarterly and materials and board and resolutions, board board meetings. annual approvals. Prepare committee meeting minutes. material and agenda, resolutions and other board and committee board materials for quarterly meeting minutes. board meetings. Prepare Ensure BOD material supporting information and contains all materials when necessary. required Assemble, check and distribute information that books in advance of meeting. the BOD must Attend board and committee review and/or meetings and prepare minutes. approve to perform their duties as directors. FREQUENCY: QUARTERLY Prepare amendments to Prepare and coordinate the Review and approve. A/C - Review and Registration Statement. filing of post-effective approve filings. amendments. Coordinate with A/C - Provide outside printers the Xxxxx consents as conversion, filing with the appropriate. SEC and printing of prospectus. FREQUENCY: ANNUAL UPDATE (INCLUDES UPDATING FINANCIAL HIGHLIGHTS, EXPENSE TABLES, RATIOS) PLUS ONE ADDITIONAL FILING PER FISCAL YEAR Prepare Prospectus/SAI Prepare Prospectus and SAI Review and approve. C - Review and supplements. supplements. File with approve the SEC via Xxxxx. Coordinate supplements. printing of supplements. FREQUENCY: AS OFTEN AS REQUIRED LEGAL (CONT.) ------------- Preparation and filing Accumulate capital stock Review and approve filing. A - Review of 24f-2 Notice. information and draft Form informally when 24f-2 Notice. File requested approved Form with SEC via Xxxxx. FREQUENCY: ANNUALLY NOVEMBER 1, 1999 FUNCTION INVESTORS BANK & TRUST SEIX INVESTMENT MANAGEMENT SUGGESTED FUND AUDITOR OR COUNSEL ---------------------------------------------------------------------------------------------------------------------------------- Proxy Material/Shareholder Prepare drafts of proxy material Review and approve proxy. C - Review and Meetings and file materials or coordinate approve proxy. filing with SEC and coordinate printing. Assist proxy solicitation firm and prepare scripts. Attend meeting and prepare minutes. FREQUENCY: ONE PROXY FILING PER FISCAL YEAR. Assist in updating of Make annual filing of Obtain required fidelity bond fidelity bond insurance fidelity bond insurance insurance coverage. Monitor coverage. material with the SEC. level of fidelity bond insurance maintained in accordance with required coverage. Obtain appropriate E&O/D&O insurance coverage. FREQUENCY: ANNUALLY Respond to Compile and provide Coordinate with regulatory C - Provide regulatory audits. documentation pursuant to auditors to provide consultation audit requests. Assist requested documentation as needed. client in resolution of and resolutions to inquiries. audit inquiries. FREQUENCY: AS NEEDED NOVEMBER 1, 1999 FUNCTION INVESTORS BANK & TRUST SEIX INVESTMENT MANAGEMENT SUGGESTED FUND AUDITOR OR COUNSEL ---------------------------------------------------------------------------------------------------------------------------------- Maintain effective Maintain records of fund Identify states in which filings C - Provide Blue Sky notification sales for client designated are to be made. consultation as filings for states in states via PW Blue2 Identify exempt transactions to needed on Blue which Fund Management compliance system. File transfer agent for appropriate Sky issues. intends to solicit annual notification exclusion from blue sky reporting. sales of fund shares. renewal documents and C - Provide annual sales reports. consultation on . File amendments to increase product and dollar amounts authorized for institutional sales by funds, based upon exemptions client instruction. File notifications to states for new funds and/or classes, mergers and liquidations. Provide periodic reports on state authorization amounts and sales amounts. Determine state filing requirements by using CCH Blue Sky Law Reporter, ICI memoranda and state securities commission directives(both written and oral). FREQUENCY: ON-GOING File amendments to registration File updated registration Inform IBT of filings prior C - Provide . statement with the applicable statements, prospectuses, to SEC filing. consultation as state securities commissions in SAIs, supplements thereto, needed on Blue Sky coordination with SEC filing. and annual reports to filing issues FREQUENCY: ANNUAL UPDATES shareholders upon (CINCLUDES REGISTRATION STATEMENT, approval/authorization PROSPECTUS, SAI) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take PLUS ONE by client. ADDITIONAL FILING PER FISCAL YEAR NOVEMBER 1, 1999 FUNCTION INVESTORS BANK & TRUST SEIX INVESTMENT MANAGEMENT SUGGESTED FUND AUDITOR OR COUNSEL ---------------------------------------------------------------------------------------------------------------------------------- Prepare income tax Calculate investment company Provide transaction information A - Provide provisions. taxable income, net tax exempt as requested. Identify Passive consultation as testing to Establish qualification tests at each tax quarter endinterest, net capital gain and Foreign Investment Companies (PFICs). any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary actionspillback dividend requirements. Approve tax accounting positions establishing Identify book-tax accounting to RICbe taken. material differences are Approve provisions. positions to be differences. Track required taken in tax information relating to treatment of accounting differences. particular issues. Perform review in conjunction with the year-end audit. FREQUENCY: ANNUALLY Calculate excise tax Calculate required distributions Provide transaction information as A - Provide distributions to avoid imposition of excise tax. requested. Identify Passive Foreign consultation as - Calculate capital gain net Investment Companies (PFICs). needed in income and foreign currency Approve tax accounting positions takento establishing gain/loss through October 31. be taken. Review and approve all positions to be - Calculate ordinary income income and distribution taken in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY tax and as may otherwise be auditdistributions through calculations, including projected treatment of a specified cut off date. necessaryincome and dividend shares. Timely report potential violations to Fund Management. Follow-up on particular issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Project ordinary income Approve distribution rates per Review and concur from cut off date to share and aggregate amounts. with proposed December 31. Obtain Board approvalapproval when required distributions per - Ascertain dividend shares. share. Identify book-tax accounting differences. Track required information relating to accounting differences. Coordinate review by management and fund auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. fundsFREQUENCY: ANNUALLY NOVEMBER 1, 1999 FUNCTION INVESTORS BANK & TRUST SEIX INVESTMENT MANAGEMENT SUGGESTED FUND AUDITOR OR COUNSEL ---------------------------------------------------------------------------------------------------------------------------------- Prepare tax returns Prepare excise and RIC tax returns. Provide consultation Obtain Board approval when Review tax returns. A - Review and sign Prepare applicable state tax tax return as requestedreturns, including Maryland Form preparer. required000, Xxxxxxxx Xxxx 0, Xxx Xxxx XX-0 and New York City Tax Return. Fund officer signs tax returns.
Appears in 1 contract
Frequency. MONTHLY SUGGESTED FUND AUDITOR Quarterly Coordinate the annual audit and Coordinate the creation of Provide past financial A - Perform audit and semi-annual preparation and printing of templates reflecting statements and other issue opinion on financial statements and notes with client-selected standardized information required to annual financial management, fund accounting and the appearance and text of create templates, including statements. fund auditors. financial statements and report style and graphics. footnotes. Draft and manage Approve format and text as A/C - Review reports. production cycle. Coordinate standard. Approve production with IBT fund accounting the cycle and assist in managing electronic receipt of to the cycle. Coordinate portfolio and general ledger review and approval by information. Assist in portfolio managers of resolution of accounting portfolio listings to be issues. Using templates, included in financial draft financial statements, statements. Prepare coordinate auditor and appropriate management management review, and clear letter and coordinate comments. Coordinate production of Management printing of reports and Discussion and Analysis. Review XXXXX conversion with and approve entire report. Make outside printer and filing appropriate representations in with the SEC via XXXXX. conjunction with audit. Frequency: Annually/semi-annually Suggested Fund Auditor Function Investors Bank & Trust Allmerica or Counsel ------------------------------------ ------------------------------------------------------------------------------------------ LEGAL ------------------------------------ Prepare and file Form N-SAR. Prepare form for filing. Provide appropriate responses. C - Review initial Obtain any necessary Provide applicable Exhibits to filing. A - Provide supporting documents. File attach to filing. Review and annual audit internal with SEC via XXXXX. authorize filing. control letter to accompany the annual filing. Frequency: Semi-annually Assist the preparation and filing of Accumulate capital stock Review and approve capital A/C - Review Form 24f-2 Notice. information. stock worksheet. informally when requested Frequency: Annually Respond to regulatory audits. Compile and provide Coordinate with regulatory C - Provide documentation pursuant to auditors to provide requested consultation as Assist audit requests. client documentation and resolutions needed. in resolution of audit to inquiries. inquiries. Frequency: As needed (Aat least annually) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take Suggested Fund Auditor Function Investors Bank & Trust Allmerica or Counsel ------------------------------------ ------------------------------------------------------------------------------------------ TAX ------------------------------------ Prepare income tax provisions. Calculate investment company Provide transaction A - Provide consultation as testing to Establish qualification tests at each taxable income, net tax quarter endinformation as requested. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. exempt interest, net capital Identify Passive Foreign positions to be taken in violations tax gain and spillback dividend Investment Companies treatment of particular requirements. Identify (PFICs). Approve tax issues. Perform review in book-tax accounting accounting positions to be conjunction with the differences. Track required taken. Approve provisions. year-end audit. information relating to accounting differences. Frequency: Annually Suggested Fund ManagementAuditor Function Investors Bank & Trust Allmerica or Counsel ------------------------------------ ------------------------------------------------------------------------------------------ TAX (CONT.) ------------------------------------ Calculate excise tax distributions Calculate required Provide transaction information A - Provide consultation distributions to avoid as requested. Identify Passive as needed in establishing imposition of excise tax. Foreign Investment Companies positions to be taken in - Calculate capital (PFICs). Approve tax tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying gain net income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RICbe particular issues. material differences are tax positions taken. be foreign currency taken. Review in anticipated) on quarterly basis conjunction and approve all Review and concur with year-end FREQUENCY: QUARTERLY gain/loss through income and as may otherwise be auditdistribution proposed distributions October 31. necessarycalculations, including per share. Timely report potential violations - Calculate ordinary projected income and dividend income and shares. Approve distribution distributions rates per share and aggregate through a specified amounts. Obtain Board approval cut off date . when required. - Project ordinary income from cut off date to Fund ManagementDecember 31. Follow-up on issues- Ascertain dividend shares. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide afterIdentify book-tax Prospectus and SAIaccounting differences. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense Track required information relating to accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distributiondifferences. Coordinate review by management and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. fund auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. fundsFrequency: Annually Function Investors Bank & Trust Allmerica or Counsel ------------------------------------ ------------------------------------------------------------------------------------------ TAX (CONT.) ------------------------------------ Prepare tax returns Prepare excise and RIC tax returns. Provide consultation Review and sign tax return. A - Review and sign tax return as preparer. Frequency: Annually Prepare Form 1099 Obtain Board approval when as requestedyearly distribution Review and approve information. required.Calculate 1099 information provided for reclasses and coordinate with Form 1099. transfer agent. Frequency: Annually Prepare other year-end tax-related Obtain yearly income distribution Review and approve disclosures information. Calculate disclosures information provided. (i.e., dividend received deductions, foreign tax credits, tax-exempt income, income by jurisdiction) and coordinate with transfer agent. Frequency: Annually Appendix C ---------- Allmerica Investment Trust -------------------------- Fee Schedule -------------------------------------------------------------------------------- CUSTODY, FUND ACCOUNTING, CALCULATION OF N.A.V. and FUND ADMINISTRATION --------------------------------------------------------------------------------
Appears in 1 contract
Samples: Administration Services Agreement (Allmerica Investment Trust)
Frequency. MONTHLY ANNUAL UPDATES (INCLUDES REGISTRATION STATEMENT, PROSPECTUS, SAI) PLUS ONE ADDITIONAL FILING PER FISCAL YEAR ------------------------- TAX ------------------------- SUGGESTED FUND AUDITOR (A) OR FUNCTION INVESTORS BANK NYLIM OR FUND & TRUST DLB COUNSEL (C) ------------------------- ----------------------------------- --------------------------------- ---------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take Prepare income tax Calculate investment company Provide transaction information A - Provide consultation as testing to Establish qualification tests at each provisions. taxable income, net tax quarter endexempt as requested. any necessary action. Approve Identify Passive needed in establishing as a RIC. Timely report potential tax positions taken. interest, net capital gain and Foreign Investment Companies positions to be taken in violations to Fund Managementtax spillback dividend requirements. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary actionPFICs). Approve tax accounting treatment of particular Identify book-tax accounting positions to RIC. material differences are tax positions be taken. Approve issues. Perform review in differences. Track required provisions. conjunction with the year-end information relating to accounting audit. differences. FREQUENCY: ANNUALLY Calculate excise tax Calculate required distributions Provide transaction information A - Provide consultation as distributions to avoid imposition of excise tax. as requested. Identify Passive needed in establishing - Calculate capital gain net Foreign Investment Companies positions to be taken in tax income and foreign currency (PFICs). Approve tax accounting treatment of particular gain/loss through October 31. positions to be taken. Review issues. Review and concur with - Calculate ordinary income and and approve all income and proposed distributions per distributions through a distribution calculations, share. specified cut off date. including projected income and - Project ordinary income from dividend shares. Approve cut off date to December 31. distribution rates per share and - Ascertain dividend shares. aggregate amounts. Obtain Board Identify book-tax accounting approval when required. differences. Track required information relating to accounting differences. Coordinate review by management and fund auditors. Notify custody and transfer agent of authorized dividend rates in anticipated) on quarterly basis conjunction accordance with year-end Board approved policy. Report dividends to Board FREQUENCY: QUARTERLY ANNUALLY as required. ------------------------- TAX (CONT.) ------------------------- Prepare tax returns Prepare excise and RIC tax returns. Review and sign tax return. A - Review and sign tax return as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budgetpreparer. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) OR FUNCTION INVESTORS BANK NYLIM OR FUND & TRUST DLB COUNSEL (C) ------------------------- ----------------------------------- --------------------------------- ---------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budgetPrepare Form 1099 Obtain yearly distribution Review and approve information information. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accrualsCalculate 1099 provided for Form 1099. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive reclasses and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amountstransfer agent. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized ANNUALLY Prepare other year-end Obtain Board approval when A - yearly income distribution Review and approve POLICY information tax-related disclosures information. Calculate disclosures provided. (i.e., dividend rates in accordance received deductions, foreign tax credits, tax-exempt income, income by jurisdiction) and coordinate with requiredtransfer agent. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. funds. Provide consultation Obtain Board approval when as requested. required.FREQUENCY: ANNUALLY
Appears in 1 contract
Frequency. MONTHLY SUGGESTED FUND AUDITOR ANNUALLY Respond to Assist LSA VST (Aas requested) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results Compile and take provide C - Provide regulatory in resolution of examination documentation pursuant consultation examinations. inquiries. Provide, with prior to exam requests. as needed. consent of LSA, documentation Coordinate with as needed to respond to regulatory auditors to auditors. provide requested documentation and resolutions to inquiries. FREQUENCY: AS NEEDED TAX ---- Prepare income Calculate investment company Provide transaction Provide transaction A - Provide tax provisions. taxable income, net capital information as information as requested. consultation as testing gain and spillback dividend requested. Assist with Identify Passive Foreign needed in requirements. Identify book- the sub- advisors' Investment Companies establishing tax accounting differences. identification of (PFIC's) to Establish qualification tests at each IBT positions to be Track required information Passive Foreign taken in tax quarter endrelating to accounting / Investment Companies . any necessary actiontreatment of tax differences. Coordinate (PFICs) to IBT. Approve particular issues. review by external auditors. tax accounting Perform review in positions to be taken. conjunction with Approve provisions. the year-end audit. FREQUENCY: ANNUALLY Suggested Fund Function Investors Bank & Trust LSA Sub-Advisor Auditor or Counsel ---------------------------------------------------------------------------------------------------------------------------------- TAX (CONT) ------------ Calculate excise Calculate required Provide transaction Provide transaction A - Provide tax distributions distributions to avoid information as information as requested. consultation as imposition of excise tax. requested. Assist with Identify PFIC's to IBT. needed in - Calculate capital sub advisors' establishing as gain net income and identification of positions to be foreign currency gain/ Passive Foreign taken in tax loss through October 31. Investment Companies treatment of - Calculate ordinary income (PFICs) to IBT. Approve particular issues. and distributions through tax accounting Review and concur a RIC. Timely report potential tax positions takenspecified cut off date. positions to be taken in violations taken. with proposed - Project ordinary income Review and approve all distributions per from cut off date to Fund Managementincome and distribution share. December 31. calculations, - Ascertain dividend shares. including projected Identify book-tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issuesaccounting income and dividend differences. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary actionTrack required shares. Approve tax accounting positions information relating to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with accounting differences. share and aggregate Coordinate review by amounts. Obtain Board approvalmanagement and fund auditors. auditorsapproval when required. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. fundsFREQUENCY: ANNUALLY Prepare tax returns Prepare RIC income tax Review and sign tax A - Review and sign returns (federal) and return as entity, not tax return as Excise (if necessary). Provide consultation Obtain Board approval when as requestedpreparer. requiredpreparer.
Appears in 1 contract
Samples: Administration Agreement (Lsa Variable Series Trust)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (Quarterly Coordinate the X X Coordinate the creation of Provide past financial A - Perform audit and annual audit and templates reflecting client- statements and other issue opinion on annual semi-annual selected standardized information required to financial statements. preparation and appearance and text of create templates, including printing of financial statements and report style and graphics. A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification /C - Review test results reports. financial footnotes. Draft and take Approve format and text statements and manage production cycle. as standard. Approve notes with Coordinate with IBT fund production cycle and management, fund accounting the electronic assist in managing to the accounting and the receipt of portfolio and cycle. Coordinate review Fund auditors. general ledger and approval by portfolio information. Assist in managers of portfolio Frequency: resolution of accounting listings to be included in Annually/semi-annually issues. Using templates, financial statements. draft financial statements, Prepare appropriate coordinate auditor and management letter and management review, and coordinate production of clear comments. Management Discussion Coordinate printing of and Analysis. Review and reports and XXXXX approve entire report. conversion with outside Make appropriate printer and filing with the representations in SEC via XXXXX. conjunction with audit. Administrative Services to be Administrative Services not to Function Master Feeder provided by IBT Barclays Global Investors be provided by IBT -------- ------ ------ ----------------------------- ------------------------- ------------------------------ LEGAL Prepare agenda and X X Maintain annual calendar Review and approve board C - Review agenda, Board materials for of required quarterly and materials and board and resolutions, board material quarterly Board annual approvals. Prepare committee meeting and board and committee meetings. agenda, resolutions and minutes. meeting minutes. Ensure other Board materials for BOD material contains all Frequency: Quarterly quarterly Board meetings. required information that Prepare supporting the BOD must review and/ information and materials or approve to perform when necessary. their duties as directors. Assemble, check and distribute books in advance of meeting. Attend Board and committee meetings and prepare minutes. Prepare and file X X Prepare form for filing. Provide appropriate C - Review initial filing. Form N-SAR. Obtain any necessary responses. Review and A - Provide consultation as testing annual audit supporting documents. authorize filing. internal control letter to Establish qualification tests at each tax quarter endFrequency: File with SEC via accompany the annual Semi-annually XXXXX. any necessary actionfiling. Approve needed in establishing as a RICPrepare amendments X X Prepare and coordinate the Review and approve. Timely report potential tax positions taken. positions C - Review and approve to be taken in violations to Fund Management. tax treatment Registration filing of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budgetStatement. Establish daily accrualsamendments. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections Coordinate A/C - Provide consultation consents as with outside printers the appropriate. Frequency: Annual Xxxxx conversion, filing update (includes with the SEC and printing updating financial of Registration Statement. highlights, expense tables, ratios) Prepare X X Prepare Registration Review the Funds' multi-class budgets/expenses accrualsand approve. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates Registration Statement supplements. filings. Statement File with the SEC via A/C - Provide consents as supplements. Xxxxx. Coordinate printing appropriate. of supplements. Frequency: As often as required Preparation and X Accumulate capital stock Review and approve C - Approve 24f-2 Notice. filing of 24f-2 information and draft filing. Notice. Form 24f-2 Notice. File A - Review informally approved Form with SEC when requested Frequency: Annually via Xxxxx. Administrative Services to be Administrative Services not to Function Master Feeder provided by IBT Barclays Global Investors be provided by IBT -------- ------ ------ ----------------------------- ------------------------- ------------------------------ Proxy X X Prepare drafts of proxy Review and approve C - Review and approve Material/Shareholder material for review, file proxy. proxy. Meetings materials or coordinate filing with SEC and Frequency: As needed coordinate printing. Assist proxy solicitation firm and prepare scripts. Attend meeting and prepare minutes. Assist in updating X X Make annual filing of Obtain required fidelity of fidelity bond fidelity bond insurance bond insurance coverage. insurance coverage. material with the SEC. Monitor level of fidelity bond insurance maintained Frequency: Annually in accordance with requiredrequired coverage. dividend calculation Board approved policy. Report methodology for multi-class dividends Respond to Board as required. funds. X X Compile and provide Coordinate with C - Provide consultation Obtain Board approval when regulatory audits. documentation pursuant to regulatory auditors to as requestedneeded. requiredaudit requests. Assist provide requested Frequency: As client in resolution of documentation and needed (at least audit inquiries. resolutions to inquiries. annually) Maintain and X X Maintain and preserve the preserve the "corporate" records of the "corporate" records Funds (Trust) and the of each Fund and Master Portfolios (Trust). each Master Portfolio.
Appears in 1 contract
Samples: Sub Administration Agreement (Barclays Global Investors Funds)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (Monthly Provide a report of compliance testing results. Review report. A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification /C – Provide consultation as needed. Perform asset diversification Review test results and take A - Provide consultation as testing to Establish establish qualification as a RIC. Frequency: Quarterly Perform asset diversification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. Review test results and take any necessary action. Approve tax positions taken. A – Provide consultation as needed in establishing positions to be taken in tax treatment of particular issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a RIC. Frequency: Quarterly Perform qualifying income testing (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Review test results and take any necessary action. Approve tax positions taken. A – Consult as needed on tax accounting positions to be taken. Review in conjunction with year-end audit. Calculate total return information Provide total return Review total return information. on Funds as defined in the current Prospectus and SAI. Frequency: Monthly Provide total return calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Review total return information. Prepare the Funds' ’ annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. Frequency: Annually Prepare preliminary expense budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budgetProvide asset level projections. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' Approve expense budget. Monitor the Funds’ expense budget. Review the Funds’ multi-class expense differentials. Frequency: Monthly Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' ’ exemptive application and the Funds' ’ private letter ruling or published ruling. Provide asset level projections quarterly. Provide vendor information as necessary. Review expense analysis and approve budget revisions. A/C – Provide consultation as requested. Receive and coordinate payment of Fund expenses. Frequency: As often as necessary Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized approval to process payment. Approve invoices and allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with management guidelines. Frequency: According to dividend policy Calculate amounts available for distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. Obtain Board approval when required. Establish and maintain dividend and distribution policies. Approve distribution rates per share and aggregate amounts. Obtain Board approval when required. C – Review dividend resolutions in conjunction with Board approval. A – Review and approve dividend calculation methodology for multi-class funds. Provide consultation Obtain Board approval when as requested. requiredPrepare Director and vendor Form 1099-MISC, as needed. Frequency: Annually Summarize amounts paid during the calendar year to Directors and vendors. Prepare and mail Form 1099-MISC. Obtain social security numbers and current mailing address for Directors. Provide social security numbers and current mailing address for Directors. Prepare selected information for presentation to Fund Management and Board of Directors as NYLIM may reasonably request from time to time. Frequency: Quarterly Prepare selected information for inclusion in board material. Review information. Prepare and file Form N-SAR. Frequency: Semi-annually Prepare form for filing. Obtain any necessary supporting documents. File with SEC via XXXXX. Provide appropriate responses. Review and authorize filing. C – Review initial filing. A – Provide annual audit internal control letter to accompany the annual filing.
Appears in 1 contract
Samples: Master Fund Sub Accounting and Sub Administration Agreement (Icap Funds Inc)
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Monthly Perform asset diversification Review test results and take Perform asset diversification tests Continuously monitor portfolio A - Provide consultation as testing to Establish qualification tests establish at each tax quarter end. any necessary action. Approve Follow-up activity in conjunction with needed in establishing qualification as a RICRIC and on issues. Timely report potential tax positions takenIRS requirements. Review test positions to be taken in violations tax to Fund Management. tax meet requirements of results and take any necessary treatment of particular FREQUENCY: QUARTERLY Follow-up on issuesSection 817(h). action. Approve tax positions issues. Review quarter end taken. tests on a current basis. Frequency: Quarterly Suggested Fund Auditor Function Investors Bank & Trust AFIMS or Counsel ------------------------------------ ------------------------------ ------------------------------ --------------------------- MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ------------------------------------ Perform qualifying income testing to Perform qualifying income testing Review test results and take A - Continuously monitor portfolio A- Consult as needed on to tax establish qualification as a RIC. testing (on book basis income, unless any necessary action. Approve tax activity in conjunction with accounting positions to RIC. be unless material differences are tax positions takenIRS requirements. be Review test taken. Review in anticipated) on quarterly basis results and take any necessary conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be action. Approve tax positions audit. Frequency: Quarterly necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return informationtaken. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' Fund's annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund accounting projections. Approve expense accounting of new accrual rates. budget. FREQUENCYFrequency: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Annually Monitor the Funds' Fund's expense budget. Monitor actual expenses updating Provide asset level projections AC/C A - Provide consultation Review the Funds' multi-class budgets/expenses budgets/ expense accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 Frequency: Monthly Suggested Fund Function Investors Bank & Trust AFIMS Auditor or the Funds' exemptive application Counsel ---------------------------------------- ----------------------------------- ------------------------------ ------------------- MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ---------------------------------------- Monitor Performance-Based Management Fee Calculate Incentive Fee adjustment, Coordinate a meeting to review according to agreed-upon existing calculation methodology. Coordinate review by methodology and the Funds' private letter ruling or published rulingsupport, and to Frequency: Daily management. Notify Fund Accounting agree to changes (if any). of adjusting entries. Review and approve calculations of Management Fee. Receive and coordinate payment of fund Propose allocations of invoices invoice among Approve invoices and Fund expenses. among Funds and obtain authorized approval allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCYFrequency: AS OFTEN AS NECESSARY As often as necessary manner. Calculate periodic dividend rates to be Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with management distribution. Coordinate review by and distribution policies. resolutions in conjunction management guidelines. by Fund Management management and/or auditors. Notify Approve distribution rates per conjunction with Board approval. auditors. Notify custody and transfer agent of share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of Board approval. authorized dividend rates in Obtain Board approval when accordance with Board approved required. A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board concur with Frequency: Annually as required. fundsproposed distributions Suggested Fund Auditor Function Investors Bank & Trust AFIMS or Counsel ----------------------------------- ---------------------------------- ---------------------------- ---------------------- MANAGEMENT REPORTING & TREASURY ADMINISTRATION (CONT.) ----------------------------------- Calculate total return information Provide total return calculations. Provide consultation Obtain Board approval when Review total return on Funds as requesteddefined in the current information. requiredProspectus and SAI.
Appears in 1 contract
Frequency. MONTHLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification Review test results and take ANNUALLY --------------------------------------------------------------------------------------- TAX --------------------------------------------------------------------------------------- Prepare income tax provisions. A - Provide consultation as testing to Establish qualification tests at each tax quarter end. any necessary action. Approve needed in establishing as a RIC. Timely report potential tax positions taken. positions to be taken in violations to Fund Management. tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a (on book basis income, unless any necessary action. Approve tax accounting positions to RIC. material differences are tax positions taken. be taken. Review review in anticipated) on quarterly basis conjunction conujunction with the year-end FREQUENCY: QUARTERLY and as may otherwise be audit. necessary. Timely report potential violations to Fund Management. Follow-up on issues. Calculate total return information Provide total return Review total return information. on Funds as defined in the current calculations. Provide after-tax Prospectus and SAI. calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR ---------------------------------------------------------------------------------------------------------------------------------- TAX (ACONT.) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating ---------------------------------------------------------------------------------------------------------------------------------- Calculate excise tax Calculate required distributions to Provide asset level projections A/C transaction information A - Provide consultation Review the Funds' multi-class budgets/expenses accrualsas distributions avoid imposition of excise tax. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT Identify Passive needed in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. establishing - Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend capital gain net Foreign Investment Companies positions to be declared taken in accordance tax income and foreign currency (PFICs). Approve tax treatment of particular gain/loss through October 31. accounting positions to be issues. Review and concur - Calculate ordinary income and taken. Review and approve all with distributionproposed distributions distributions through a specified income and distribution per share. cut off date . calculations, including - Project ordinary income from projected income and dividend cut off date to December 31. shares. Approve distribution - Ascertain dividend shares. rates per share and aggregate Identify book-tax accounting amounts. Obtain Board approval differences. Track required when required. information relating to accounting differences. Coordinate review by management and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. fund auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. fundsFREQUENCY: ANNUALLY Prepare tax returns Prepare excise and RIC tax returns Review and sign tax return. Provide consultation A - Review and sign tax for Feeder. return as preparer. FREQUENCY: ANNUALLY ---------------------------------------------------------------------------------------------------------------------------------- TAX (CONT.) ---------------------------------------------------------------------------------------------------------------------------------- Prepare Form 1099 Obtain Board approval when as requestedyearly distribution Review and approve information information. required.Calculate 1099 provided for Form 1099. reclasses and coordinate with transfer agent. FREQUENCY: ANNUALLY Prepare other year-end tax-related Obtain yearly income distribution Review and approve information disclosures information. Calculate disclosures provided. (i.e., dividend received deductions, foreign tax credits, tax-exempt income, income by jurisdiction) and coordinate with transfer agent. FREQUENCY: ANNUALLY
Appears in 1 contract
Samples: Sub Administration Agreement (Hewitt Money Market Fund)
Frequency. MONTHLY SUGGESTED FUND AUDITOR QUARTERLY =================================== FINANCIAL REPORTING (CONT.) =================================== Coordinate the annual audit and Coordinate the creation of Provide past financial A - Perform audit and semi-annual preparation and printing templates reflecting statements and other issue opinion on annual of financial statements and notes client-selected standardized information required to financial statements. with management, fund accounting and appearance and text of financial create templates, including the fund auditors. statements and footnotes. Draft report style and graphics. A/C - Review reports. and manage production cycle. Approve format and text as Coordinate with IBT fund standard. Approve accounting the electronic production cycle and assist receipt of portfolio and general in managing to the cycle. ledger information. Assist in Coordinate review and resolution of accounting approval by portfolio issues. Using templates, draft managers of portfolio financial statements, coordinate listings to be included in auditor and management review, financial statements. and clear comments. Coordinate Prepare appropriate printing of reports and EDGAR management letter and conversion with outside printer coordinate production of and filing with the SEC via Management Discussion and FREQUENCY: ANNUALLY/SEMI-ANNUALLY EDGAR. [M/F: Applied at Master Analysis. Review and and Feeder levels.] approve entire report. Make appropriate representations in conjunction with audit. =================================== LEGAL =================================== Prepare agenda and board materials Maintain annual calendar of Review and approve board C - Review agenda, for quarterly board meetings. required quarterly and annual materials and board and resolutions, board approvals. Prepare agenda, committee meeting minutes. material and board and resolutions and other board committee meeting materials for quarterly board minutes. Ensure BOD meetings. Prepare supporting material contains all information and materials when required information necessary. Assemble, check and that the BOD must distribute books in advance of review and/or approve meeting. Attend board and to perform their duties committee meetings and prepare as directors. FREQUENCY: QUARTERLY minutes. [M/F: Applied at Master and Feeder levels.] Prepare and file Form N-SAR. Prepare form for filing. Obtain Provide appropriate C - Review initial filing. any necessary supporting responses. Review and A - Provide annual audit documents. File with SEC via authorize filing. internal control letter EDGAR. [M/F: Applied at Master to axxxxxany the annual and Feeder levels.] filing. Provide annual FREQUENCY: SEMI-ANNUALLY multi-class report when applicable. Prepare amendments to Registration Prepare and coordinate the Review and approve. C - Review and approve Statement. filing of post-effective filings. amendments. Coordinate with A/C - Provide consents as FREQUENCY: ANNUAL UPDATE (INCLUDES outside printers the Edgar appropriate. UPDATING FINXXXXXL HIGHLIGHTS, conversion, filing with the SEC EXPENSE TABLES, RATIOS) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL PLUS ONE and printing of prospectus. ADDITIONAL FILING PER FISCAL YEAR [M/F: Applied at Master and Feeder levels.] Prepare Prospectus/SAI supplements. Prepare Prospectus and SAI Review and approve. C - Review and approve supplements. File with the SEC filings. via Edgar. Coordinate printing A/C - Prxxxxx consents as of supplements. appropriate. [M/F: Applied at Master and FREQUENCY: AS OFTEN AS REQUIRED Feeder levels.] ======================================= LEGAL (CCONT.) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Perform asset Diversification Perform asset diversification ======================================= Preparation and filing of 24f-2 Accumulate capital stock Review test results and take approve filing. C - Approve 24f-2 Notice. Notice. information and draft Form 24f-2. Notice. File approved A - Review informally Form with SEC via Edgar. when requested [M/F: Applied at Feeder level.] FREQUENCY: ANNUALLY Proxy Material/Shareholder Meetings Prepare drafts of proxy material Review and approve proxy. C - Review and approve for review, file materials or proxy. coordinate filing with SEC and coordinate printing. Assist proxy solicitation firm and prepare scripts. Attend meeting and prepare minutes. FREQUENCY: AS NEEDED [M/F: Applied at Master and levels.] Assist in updating of fidelity bond Make annual filing of fidelity Obtain required fidelity insurance coverage. bond insurance material with the bond insurance coverage. SEC. [M/F: Applied at Master Monitor level of fidelity and Feeder levels.] bond insurance maintained FREQUENCY: ANNUALLY in accordance with required coverage. Respond to regulatory audits. Compile and provide Coordinate with regulatory C - Provide consultation documentation pursuant to audit auditors to provide as needed. requests. Assist client in requested documentation resolution of audit inquiries. and resolutions to FREQUENCY: AS NEEDED (AT LEAST [M/F: Applied at Master and inquiries. ANNUALLY) Feeder levels.] Maintain principal office and provide Maintain principal office and officers. provide assistant secretaries and assistant treasurers upon request. [M/F: Applied at Master and FREQUENCY: AS NEEDED Feeder levels.] =================================== BLUE SKY =================================== Maintain effective Blue Sky Maintain records of fund sales Identify states in which C - Provide consultation notification filings for states in for client designated states via filings are to be made. as needed on Blue Sky which Fund Management intends to PW Blue2 compliance system. issues. solicit sales of fund shares. File annual notification renewal Identify exempt transactions documents and annual sales to transfer agent for C - Provide consultation reports. appropriate exclusion from on product and File amendments to increase blue sky reporting. institutional exemptions. dollar amounts authorized for sales by funds, based upon client instruction. File notifications to states for new funds and/or classes, mergers and liquidations. Provide periodic reports on state authorization amounts and sales amounts. Determine state filing requirements by using CCH Blue Sky Law Reporter, ICI FREQUENCY: ON-GOING memoranda and state securities commission directives (both written and oral). [M/F: Applied at Feeder level.] File amendments to registration File updated registration Inform IBT of filings C - Provide consultation statement with the applicable state statements, prospectuses, SAIs, prior to SEC filing. as needed on Blue Sky securities commissions in supplements thereto, and annual filing issues. coordination with SEC filing. reports to shareholders upon approval/authorization by FREQUENCY: ANNUAL UPDATES (INCLUDES client. [M/F: Applied at Feeder REGISTRATION STATEMENT, pROSPECTUS, level.] SAI) PLUS ONE ADDITIONAL FILING PER FISCAL YEAR ======================================= TAX ======================================= Calculate excise tax distributions Calculate required distributions Provide transaction A - Provide consultation to avoid imposition of excise information as testing to Establish qualification tests at each tax quarter endrequested. any necessary action. Approve as needed in establishing as a RICtax. Timely report potential tax positions taken. Identify Passive Foreign positions to be taken in violations to Fund Management. - Calculate capital gain net Investment Companies tax treatment of particular FREQUENCY: QUARTERLY Follow-up on issues. issues. Review quarter end tests on a current basis. Perform qualifying income testing Perform qualifying income testing Review test results and take A - Consult as needed on to establish qualification as a foreign currency (on book basis income, unless any necessary actionPFICs). Approve tax particular issues. gain/loss through October 31. accounting positions to RIC. material differences are tax positions taken. be Review and concur with - Calculate ordinary income taken. Review in anticipated) on quarterly basis conjunction with year-end FREQUENCY: QUARTERLY and as may otherwise be auditapprove proposed distributions and distributions through a all income and distribution per share. necessaryspecified cut off date. Timely report potential violations calculations, including - Project ordinary income projected income and from cut off date to Fund Managementdividend shares. Follow-up on issuesApprove December 31. Calculate total return information Provide total return Review total return informationdistribution rates per share - Ascertain dividend shares. on Funds as defined in the current calculationsand aggregate amounts. Provide afterIdentify book-tax Prospectus accounting Obtain Board approval when differences. Track required required. information relating to accounting differences. [M/F: Book-tax accounting differences applied at both Master and SAIFeeder levels. Distribution calculations in connection with post-effective amendment filings. FREQUENCY: MONTHLY Prepare the Funds' annual expense Prepare preliminary expense Provide asset level budget. Establish daily accruals. budget. Notify mutual fund projections. Approve expense accounting of new accrual rates. budget. applied at Feeder level.] Coordinate review by management FREQUENCY: ANNUALLY SUGGESTED FUND AUDITOR (A) FUNCTION INVESTORS BANK NYLIM OR FUND COUNSEL (C) ----------------------------------- --------------------------------- -------------------------------- --------------------------- Monitor the Funds' expense budget. Monitor actual expenses updating Provide asset level projections A/C - Provide consultation Review the Funds' multi-class budgets/expenses accruals. If quarterly. Provide vendor as requested. expense differentials. applicable, review expense information as necessary. differentials among classes to Review expense analysis and FREQUENCY: MONTHLY ensure consistency with Rule approve budget revisions. 18f-3 or the Funds' exemptive application and the Funds' private letter ruling or published ruling. Receive and coordinate payment of Propose allocations of invoices Approve invoices and Fund expenses. among Funds and obtain authorized allocations of payments. Send approval to process payment. invoices to IBT in a timely FREQUENCY: AS OFTEN AS NECESSARY manner. Calculate periodic dividend rates Calculate amounts available for Establish and maintain dividend C - Review dividend to be declared in accordance with distribution. Coordinate review and distribution policies. resolutions in conjunction management guidelines. by Fund Management and/or Approve distribution rates per with Board approval. fund auditors. Notify custody and share and aggregate amounts. FREQUENCY: ACCORDING TO DIVIDEND transfer agent of authorized Obtain Board approval when A - Review and approve POLICY dividend rates in accordance with required. dividend calculation Board approved policy. Report methodology for multi-class dividends to Board as required. fundsPrepare tax returns Prepare excise and RIC tax Review and sign tax A - Review and sign tax returns. return. return as preparer. Prepare partnership return for Master. Prepare excise and RIC returns for Feeder. Prepare partners' Schedules K-1" FREQUENCY: ANNUALLY =================================== TAX (CONT.) =================================== Prepare Form 1099 Obtain yearly distribution Review and approve information. Calculate 1099 information provided for reclasses and coordinate with Form 1099. transfer agent. [M/F: Applied FREQUENCY: ANNUALLY at Feeder level.] Prepare other year-end tax-related Obtain yearly income distribution Review and approve disclosures Information. Calculate disclosures information provided. (i.e., dividend received deductions, foreign tax credits, tax-exempt income, income by jurisdiction) and coordinate with transfer agent. [M/F: Applied at Feeder level.] FREQUENCY: ANNUALLY Prepare income tax provisions. Calculate investment company Provide transaction A - Provide consultation Obtain Board approval when taxable income, net tax exempt information as requested. requiredas needed in establishing interest, net capital gain and Identify Passive Foreign positions to be taken in spillback dividend requirements. Investment Companies tax treatment of Identify book-tax accounting (PFICs). Approve tax particular issues. differences. Track required accounting positions to be Perform review in information relating to taken. Approve provisions. conjunction with the accounting differences. [M/F: year-end audit. Book-tax accounting differences applied at both Master and Feeder levels. Distribution calculations applied at Feeder level.] FREQUENCY: ANNUALLY REVIEW AND APPROVAL The attached Summary of Administration Functions has been reviewed and represents the services currently being provided. -------------------------------------------------------- ------------------------- Signature of Account Manager/ Date -------------------------------------------------------- ------------------------- Signature of Authorized Client Representative/Date Appendix C FEE SCHEDULE TT INTERNATIONAL MASTER-FEEDER STRUCTURE FEE SCHEDULE ============================================================================== CUSTODY, FUND ACCOUNTING, DAILY CALCULATION OF N.A.V., ADMINISTRATION, & INSTITUTIONAL TRANSFER AGENCY ============================================================================== FEES AT THE MASTER LEVEL
Appears in 1 contract
Samples: Administration Agreement (Tt International Usa Master Trust)
