SEC Yield Calculation Clause Samples
The SEC Yield Calculation clause defines the method for determining the standardized yield of a mutual fund or similar investment product, as required by the U.S. Securities and Exchange Commission (SEC). This calculation typically involves using a prescribed formula that annualizes the fund’s net investment income over a 30-day period, factoring in expenses and interest earned. By standardizing how yields are reported, this clause ensures that investors can fairly compare the income-generating potential of different funds, promoting transparency and informed decision-making.
SEC Yield Calculation. (if applicable) Provide up to 12 reports per year to reflect the yield calculations for non-money market Funds required by the SEC, $1,000 per year per Fund. For multiple class Funds, $1,000 per year per class. Daily SEC yield reporting is available at $3,000 per year per Fund (US dollar denominated securities only).
SEC Yield Calculation. (if applicable) ---------------------
SEC Yield Calculation. (There will be no charge for monthly SEC Yield Calculation for the Elite Income Fund.) Provide up to 12 reports per year for the Elite Income Fund to reflect the yield calculations for non-money market funds required by the SEC. (US dollar denominated securities only). OUT-OF-POCKET EXPENSES The Funds will reimburse Fund/Plan Services monthly for all out-of-pocket expenses, including telephone, postage, telecommunications, special reports, record retention, unusual expenses incurred while establishing viable agreements between the Funds and Fund/Plan Services, etc. The cost of copying and sending materials to auditors for off-site audits will be an additional expense. ADDITIONAL SERVICES To the extent the Funds commence using investment techniques such as Security Lending, Short Sales, Futures, Leveraging, Precious Metals and/or foreign trading, additional fees will apply. Activities of a non-recurring nature such as fund consolidations, mergers, or reorganizations will be subject to negotiation. To the extent the Funds should decide to issue multiple/separate classes of shares, additional fees will apply. Any enhanced services or reports will be quoted upon request. July 9, 1993 Page #2 Fund/Plan Services, Inc. (100) POWERS OF ATTORNEY (101) THE ELITE GROUP POWER OF ATTORNEY
SEC Yield Calculation. (if applicable) --------------------- Provide up to 12 reports per year to reflect the yield calculations for non-money market Funds required by the SEC, $1,000 per year per Fund. For multiple class Funds, $1,000 per year per class. Daily SEC yield reporting is available at $3,000 per year per Fund (US dollar denominated securities only). Out-of-Pocket Expenses The Company shall reimburse Investor Services Group monthly for applicable out- of-pocket expenses, including, but not limited to the following items: . Postage - direct pass through to the Fund . Telephone and telecommunication costs, including all lease, maintenance and line costs . Shipping, Certified and Overnight mail and insurance . Terminals, communication lines, printers and other equipment and any expenses incurred in connection with such terminals and lines . Duplicating services . Courier services . Overtime, as approved by the Company . Temporary staff, as approved by the Company . Travel and entertainment, as approved by the Company . Record retention, retrieval and destruction costs, including, but not limited to exit fees charged by third party record keeping vendors . Third party audit reviews . Insurance . Pricing services (or other services used to determine Fund NAV) . Vendor pricing comparison . ▇▇▇▇▇ filing fees . Such other expenses as are agreed to by Investor Services Group and the Company The Company agrees that postage and mailing expenses will be paid on the day of or prior to mailing as agreed with Investor Services Group. In addition, the Company will promptly reimburse Investor Services Group for any other unscheduled expenses incurred by Investor Services Group whenever the Company and Investor Services Group mutually agree that such expenses are not otherwise properly borne by Investor Services Group as part of its duties and obligations under the Agreement. Miscellaneous Charges The Company shall be charged for the following products and services as applicable: . Ad hoc reports . Ad hoc SQL time . Manual Pricing . Materials for Rule 15c-3 Presentations