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EXHIBIT (h)(22)
[DENVER INVESTMENT ADVISORS LLC LETTERHEAD]
October 1, 2000
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 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).
The names "Westcore Trust" and "Trustees of Westcore trust" refer respectively
to the Trust created and the Trustees, as trustees but not individually or
personally, acting from time to time under an Amended and Restated Declaration
of Trust dated November 19, 1987 as amended July 16, 1990 and as may be further
amended from time to time which is hereby referred to and a copy of which is on
file at the office of the State Secretary of the Commonwealth of Massachusetts
and the principal office of the Trust. The obligations of "Westcore Trust"
entered into in the name or on behalf thereof by any of the Trustees,
representatives or agents are made not individually, but in such capacities, and
are not binding upon any
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of the Trustees, shareholders, or representatives of the Trust personally, but
bind only the Trust Property, and all persons dealing with any class of shares
of the Trust must look solely to the Trust Property belonging to such class for
the enforcement of any claims against the Trust.
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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DENVER
INVESTMENT OTHER
ADVISORS LLC- EXPENSES TOTAL ANNUAL
CONTRACTUAL BEFORE FEE FUND OPERATING
INVESTMENT WAIVERS EXPENSES BEFORE TOTAL FEE WAIVER
ADVISORY FEES (as a % of WAIVERS AND EXPENSE
(as a % of average (as a % of REIMBURSEMENT
average daily daily net average daily net (as a % of average
FUND net assets): assets): assets): daily net assets):
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MIDCO GROWTH 0.65% 0.56% 1.21% (0.06)%
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GROWTH AND INCOME 0.65% 1.08% 1.73% (0.58)%
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BLUE CHIP 0.65% 0.63% 1.28% (0.13)%
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MID-CAP OPPORTUNITY 0.75% 2.76% 3.51% (2.26)%
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SMALL-CAP OPPORTUNITY 1.00% 0.67% 1.67% (0.37)%
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SMALL-CAP GROWTH 1.00% 0.66% 1.66% (0.36)%
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SELECT 0.65% 0.76% 1.41% (0.26)%
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FLEXIBLE INCOME 0.45% 0.81% 1.26% (0.41)%
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PLUS BOND 0.45% 0.66% 1.11% (0.56)%
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COLORADO TAX-EXEMPT 0.50% 0.64% 1.14% (0.49)%
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INTERNATIONAL FRONTIER FUND 1.20% 0.79% 1.99% (0.49)%
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INTERNATIONAL SELECT FUND 1.05% 0.88% 1.93% (0.43)%
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INTERNATIONAL SMALL-CAP 1.05% 0.88% 1.93% (0.43)%
VALUE FUND
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MICRO-CAP FUND 1.30% 1.02% 2.32% (0.72)%
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COLUMN 1 COLUMN 6
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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
FUND 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 0.85%
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PLUS BOND 0.55%
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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 1.50%
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INTERNATIONAL SMALL-CAP 1.50%
VALUE FUND
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MICRO-CAP FUND 1.60%
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