B.C. Ziegler and Company Letterhead]
EXHIBIT
(D)(7)
[X.X.
Xxxxxxx and Company Letterhead]
May
31,
2005
|
Xx.
Xxx X. Xxxxx, CFA
Principal,
Co-president
Geneva
Capital Management Ltd.
000
Xxxx Xxxxxxxxx Xxx., Xxxxx 0000
Xxxxxxxxx,
XX 00000
|
Xxxxx
X. Xxxxxxxx
President
The
North Track Funds, Inc.
000
Xxxx Xxxxxxxxx Xxx., Xxxxx 0000
Xxxxxxxxx,
XX 00000
|
| Re: |
Sub-Advisory
Agreement regarding the Geneva Growth
Fund
|
Dear
Xxx
and Xxxx:
Effective
June 1, 2005, X.X. Xxxxxxx and Company will transfer many of its investment
advisory activities to Xxxxxxx Capital Management, LLC (“ZCM”), a newly formed
subsidiary of The Xxxxxxx Companies, Inc. ZCM was established in order to
provide a dedicated Xxxxxxx entity focused on investment advisory activities.
There will be no change of personnel associated with this transfer. The X.X.
Xxxxxxx employees involved in investment advisory activities will be moved
to
ZCM.
As
part
of this reorganization, the investment advisory contract between The North
Track
Funds, Inc. and X.X. Xxxxxxx and Company has been assigned to ZCM by the
North
Track Board of Directors. Accordingly, the Sub-Advisory Agreement dated January
1, 1999 among The North Track Funds, Inc., X.X. Xxxxxxx and Company and Geneva
Capital Management Ltd. (the “Sub-Advisory Agreement”) must be assigned to ZCM
as well. ZCM will assume all rights and responsibilities of X.X. Xxxxxxx
and
Company as a result of this assignment.
To
confirm your acceptance of the assignment of the Sub-Advisory Agreement to
ZCM,
please sign this letter in the space below and return it in the enclosed
stamped
envelope. Please keep the enclosed copy of the letter for your
records.
If
you
have any questions about the assignment of this agreement, please feel free
to
contact me at (000) 000-0000. We look forward to continuing to work with
you
through Xxxxxxx Capital Management, LLC.
Sincerely,
/s/
Xxxxx
X. Xxxxxx
Xxxxx
X.
Xxxxxx
Xxxxxx
Managing Director and Chief
Investment Officer
X.X.
Xxxxxxx and Company
EXHIBIT
(D)(7)
By
signing below, the assignment of the Sub-Advisory Agreement from X.X. Xxxxxxx
and Company to Xxxxxxx Capital Management, LLC is approved:
GENEVA
CAPITAL MANAGEMENT, LTD.
By:
/s/
Xxx
X. Xxxxx
Name:
Xxx
X. Xxxxx
Its:
Co-President
Date:
6/1/05
THE
NORTH TRACK FUNDS, INC.
By:
/s/
Xxxxx
X. Xxxxxxxx
Xxxxx
X.
Xxxxxxxx, President
Date:
5/31/05
