Exhibit (d)(11)
LIBERTY U.S. TREASURY INDEX FUND
MANAGEMENT AGREEMENT
AGREEMENT dated as of November 25, 2002, between LIBERTY FUNDS TRUST V, a
Massachusetts business trust ("Trust"), with respect to LIBERTY U.S. TREASURY
INDEX FUND ("Fund"), and FLEET INVESTMENT ADVISORS INC., a New York corporation
("Advisor").
In consideration of the promises and covenants herein, the parties agree as
follows:
1. The Advisor will manage the investment of the assets of the Fund in
accordance with its prospectus and statement of additional information and
will perform the other services herein set forth, subject to the
supervision of the Board of Trustees of the Trust. The Advisor may
delegate its investment responsibilities to a sub-advisor.
2. In carrying out its investment management obligations, the Advisor shall:
(a) evaluate such economic, statistical and financial information and
undertake such investment research as it shall believe advisable; (b)
purchase and sell securities and other investments for the Fund in
accordance with the procedures described in its prospectus and statement
of additional information; and (c) report results to the Board of Trustees
of the Trust.
3. The Advisor shall be free to render similar services to others so long as
its services hereunder are not impaired thereby.
4. The Fund shall pay the Advisor monthly a fee at the annual rate of 0.10%
of the average daily net assets of the Fund.
5. The Advisor may waive its compensation (and bear expenses of the Fund) to
the extent that expenses of the Fund exceed any expense limitation the
Advisor declares to be effective.
6. This Agreement shall become effective as of the date of its execution, and
(a) unless otherwise terminated, shall continue until July 31, 2003 and
from year to year thereafter so long as approved annually in accordance
with the 1940 Act; (b) may be terminated without penalty on sixty days'
written notice to the Advisor either by vote of the Board of Trustees of
the Trust or by vote of a majority of the outstanding shares of the Fund;
(c) shall automatically terminate in the event of its assignment; and (d)
may be terminated without penalty by the Advisor on sixty days' written
notice to the Trust.
7. This Agreement may be amended in accordance with the 1940 Act.
8. For the purpose of the Agreement, the terms "vote of a majority of the
outstanding shares", "affiliated person" and "assignment" shall have their
respective meanings defined in the 1940 Act and exemptions and
interpretations issued by the Securities and Exchange Commission under the
1940 Act.
9. The Advisor shall maintain, keep current and preserve on behalf of the
Fund, in the manner required by the 1940 Act, records identified by the
Trust from time to time. Advisor agrees to make such records available
upon request to the Trust and its auditors during regular business hours
at the Advisor's offices. Advisor further agrees that such records are the
property of the Trust and will be surrendered to the Trust promptly upon
request.
10. In the absence of willful misfeasance, bad faith or gross negligence on
the part of the Advisor, or reckless disregard of its obligations and
duties hereunder, the Advisor shall not be subject to any liability to the
Trust or the Fund, to any shareholder of the Trust or the Fund or to any
other person, firm or organization, for any act or omission in the course
of, or connected with, rendering services hereunder.
LIBERTY FUNDS TRUST V
ON BEHALF OF LIBERTY U.S. TREASURY INDEX FUND
By: ________________________________________________
Xxxx X. Xxxxxxxxxx
Secretary
FLEET INVESTMENT ADVISORS INC.
By:_________________________________________________
Xxxxxx X. Xxxx
Assistant Secretary
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Fund.
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