Exhibit (d)(4.1)
FIRST ADDENDUM
Pacific Capital New Asia Growth Fund
THIS FIRST ADDENDUM, dated October 1, 2002, to the Sub-Advisory
Agreement dated June 13, 2000 among Pacific Capital Funds (the "Trust"), The
Asset Management Group of Bank of Hawaii (the "Advisor"), and First State (Hong
Kong) LLC (formerly CMG First State (Hong Kong) LLC ("Sub-Advisor"), modifies
the Sub-Advisory Agreement as follows:.
The text of Section 8 "Compensation" is deleted in its entirety and
the following substituted in lieu thereof:
For the services provided and the expenses assumed with respect to
the Fund pursuant to this Agreement, the Sub-Adviser shall be
entitled to a fee, computed daily and payable quarterly directly by
the Trust, calculated at the annual rate of 0.50% of the Fund's
average daily net assets.
IN WITNESS WHEREOF, the parties hereto have caused this instrument
to be executed by their officers designated below as of the day and year first
above written.
BANK OF HAWAII
(formerly Pacific Century Trust)
(successor by merger to Hawaiian Trust
Company, Ltd.)
By: /s/ Xxxxxx X. Xxxxxxxx
Name: Xxxxxx X. Xxxxxxxx
Title: Executive Vice President
FIRST STATE
(HONG KONG) LLC
By: /s/ Xxxxxxxx Xxx
Name: Xxxxxxxx Xxx
Title: Chief Financial Officer, Asia
PACIFIC CAPITAL FUNDS
By: /s/ Xxxxxx X. Xxxxxxx
Name: Xxxxxx X. Xxxxxxx
Title: Executive Vice President