1
EXHIBIT (h)(22)
Denver Investment Advisors LLC
ALPS Mutual Funds Services, Inc.
c/o Westcore Trust
000 00xx Xxxxxx, Xxxxx 0000
Xxxxxx, Xxxxxxxx 00000
,
-------------- -- ----------
Xxxx Xxxxxxxxx
Chairman
Westcore Trust
0000 Xxxxxxxx Xxxxx 0000
Xxxxxx, XX 00000
Re: Westcore Trust (the "Trust")
Dear Xx. Xxxxxxxxx:
By our execution of this letter agreement (this "Agreement"), the undersigned
parties agree that in order to improve the performance of certain of the Trust's
portfolios, they will voluntarily waive a portion of the investment advisory
and/or administration fees and/or reimburse additional Trust expenses for the
current fiscal year so that total annual operating expenses of each portfolio of
the Trust do not exceed the amounts set forth in column 6 of Attachment A for
the fiscal year ending May 31, 2001.
The parties acknowledge that they will not be entitled to collect on or make a
claim for waived fees or reimbursed expenses at any time in the future. The
parties agree to continue such waivers for the applicable Funds at least through
the end of the current fiscal year (May 31, 2001).
ALPS MUTUAL FUNDS SERVICES, INC. DENVER INVESTMENT ADVISORS LLC
By: By:
------------------------------- ---------------------------------
Title: Title:
Your signature below acknowledges
acceptance of this Agreement:
By:
-------------------------------
Title:
Westcore Trust
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ATTACHMENT A
WESTCORE TRUST
XXX XXXXXXX AND EXPENSE REIMBURSEMENTS FOR FISCAL YEAR ENDING MAY 31, 2001
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5
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FUND DENVER INVESTMENT OTHER TOTAL ANNUAL TOTAL FEE WAIVER AND
ADVISORS LLC- EXPENSES FUND OPERATING EXPENSE REIMBURSEMENT
CONTRACTUAL BEFORE FEE EXPENSES BEFORE (as a % of average
INVESTMENT WAIVERS WAIVERS daily net assets):
ADVISORY FEES (as (as a % of (as a % of average
a % of average average daily net assets):
daily net assets): daily net
assets):
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MIDCO GROWTH 0.65% 0.54% 1.19% (0.04)%
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GROWTH AND INCOME 0.65% 1.10% 1.75% (0.60)%
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BLUE CHIP 0.65% 0.60% 1.25% (0.10)%
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MID-CAP OPPORTUNITY 0.75% 4.58% 5.33% (4.08)%
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SMALL-CAP OPPORTUNITY 1.00% 0.63% 1.63% (0.33)%
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SMALL-CAP GROWTH 1.00% 1.05% 2.05% (0.75)%
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SELECT 0.65% 0.93% 1.58% (0.43)%
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FLEXIBLE INCOME 0.45% 0.77% 1.22% (0.27)%
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PLUS BOND 0.45% 0.56% 1.01% (0.16)%
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COLORADO TAX-EXEMPT 0.50% 0.59% 1.09% (0.44)%
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INTERNATIONAL FRONTIER FUND 1.20% 2.70% 3.90% (2.40)%
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INTERNATIONAL SELECT FUND
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INTERNATIONAL SMALL-CAP
VALUE FUND
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MICRO-CAP FUND
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COLUMN 1 COLUMN 6
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FUND DENVER INVESTMENT ADVISORS LLC AND ALPS MUTUAL
FUND SERVICES AGREE TO WAIVE ADMINISTRATION
FEES AND DENVER INVESTMENT ADVISORS LLC AGREES
TO WAIVE INVESTMENT ADVISORY FEES AND/OR
REIMBURSE EXPENSES SO THAT NET ANNUAL FUND
OPERATING EXPENSES AS SET FORTH IN THE
PROSPECTUS WILL NOT EXCEED THE FOLLOWING
AMOUNTS FOR THE FISCAL YEAR ENDING MAY 31,
2001 (as a % of average daily net assets):
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MIDCO GROWTH 1.15%
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GROWTH AND INCOME 1.15%
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BLUE CHIP 1.15%
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MID-CAP OPPORTUNITY 1.25%
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SMALL-CAP OPPORTUNITY 1.30%
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SMALL-CAP GROWTH 1.30%
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SELECT 1.15%
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FLEXIBLE INCOME 0.95%
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PLUS BOND 0.85%
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COLORADO TAX-EXEMPT 0.65%
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INTERNATIONAL FRONTIER FUND 1.50%
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INTERNATIONAL SELECT FUND
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INTERNATIONAL SMALL-CAP
VALUE FUND
---------------------------------------------------------------------------------------
MICRO-CAP FUND
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