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Exhibit 5(a)-15.1
AMENDMENT OF INVESTMENT ADVISORY AGREEMENT
June 30, 1994
Sierra Investment Advisors Corporation
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P.O. Box 1160
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Dear Sirs:
Sierra Trust Funds (the "Company"), an unincorporated business trust
organized under the laws of the Commonwealth of Massachusetts, hereby agrees
with Sierra Investment Advisors Corporation ("Sierra Advisors"), a corporation
organized under the laws of the State of California, to amend as follows the
Investment Advisory Agreement (the "Agreement") by and between the Company and
Sierra Advisors dated April 1, 1994 with respect to employing the capital of the
California Insured Intermediate Municipal Fund (the "Fund," a series investment
fund of the Company):
1. Amendment of Investment Advisory Agreement
Section 5 of the Agreement is amended by adding the following at the
end of the section: "Notwithstanding the compensation payable to Sierra Advisors
as provided above, the Company shall not pay to Sierra Advisors annually more
than 0.55% of the average daily net assets of the Fund calculated on a trailing
three-month basis."
2. Effective Date
This amendment to the Agreement shall be effective as of July 1, 1994.
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Sierra Investment Advisors Corporation
June 30, 1994
Page 2
If the foregoing accurately sets forth our agreement, kindly indicate
your acceptance hereof by signing and returning the enclosed copy hereof.
Very truly yours,
SIERRA TRUST FUNDS
By: /s/ F. ▇▇▇▇▇ ▇▇▇▇▇▇
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Name: F. ▇▇▇▇▇ ▇▇▇▇▇▇
Title: President
Accepted:
SIERRA INVESTMENT ADVISORS CORPORATION
By: /s/ ▇▇▇▇▇▇▇ ▇. GOTH
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Name: ▇▇▇▇▇▇▇ ▇. Goth
Title: Chief Operating Officer
