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EXHIBIT 1.18
THE ▇▇▇▇▇▇ & RYGEL INVESTMENT GROUP
AMENDMENT NO. 17 TO
MASTER TRUST AGREEMENT
This Amendment No. 17 to the Master Trust Agreement of The ▇▇▇▇▇▇ &
Rygel Investment Group dated January 22, 1992, as amended (the "Agreement"), is
made as of December 17, 1997.
WHEREAS, pursuant to the Agreement, the Trustees have previously
established and designated eighteen sub-trusts known as the ▇▇▇▇▇▇ & Rygel
Global Fixed Income Fund, the ▇▇▇▇▇▇ & Rygel International Bond Fund, the ▇▇▇▇▇▇
& Rygel Tax Exempt Bond Fund, the ▇▇▇▇▇▇ & Rygel Short Bond Fund, the ▇▇▇▇▇▇ &
Rygel Intermediate Bond Fund, the ▇▇▇▇▇▇ & Rygel Opportunity Fund, the ▇▇▇▇▇▇ &
Rygel Limited Maturity Fund, the ▇▇▇▇▇▇ & Rygel Short Duration Tax Exempt Fund,
the ▇▇▇▇▇▇ & Rygel U.S. Treasury Fund, the ▇▇▇▇▇▇ & Rygel Market Return Fund,
the ▇▇▇▇▇▇ & Rygel Growth & Income Fund, the ▇▇▇▇▇▇ & Rygel Global Short Bond
Fund, the ▇▇▇▇▇▇ & Rygel Total Return Fund, the ▇▇▇▇▇▇ & Rygel International
Equity Fund, the ▇▇▇▇▇▇ & Rygel Global Balanced Fund, the ▇▇▇▇▇▇ & Rygel
European Growth & Income Fund, the ▇▇▇▇▇▇ & Rygel High Income Fund, and the
PRAAM Money Market Fund; and
WHEREAS, the Trustees have the authority, without shareholder approval,
under Section 7.3 of the Agreement, to amend the Agreement in any manner, so
long as such amendment does not adversely affect the rights of any shareholder
and is not in contravention of applicable law; and
WHEREAS, the Trustees hereby desire to establish and designate two
additional sub-trusts, to be known as the ▇▇▇▇▇▇ & Rygel Value Stock Fund and
the ▇▇▇▇▇▇ & Rygel Growth Stock Fund, and to fix the rights and preferences of
the shares of such additional sub-trust;
NOW THEREFORE:
The first paragraph of Section 4.2 of the Agreement is hereby amended to
read in pertinent part as follows:
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"Section 4.2 Establishment and Designation of Sub-Trusts. Without
limiting the authority of the Trustee set forth in Section 4.1 to
establish and designate any further Sub-Trusts, the Trustees hereby
establish and designate twenty Sub-Trusts and classes thereof: the
▇▇▇▇▇▇ & Rygel Global Fixed Income Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
▇▇▇▇▇▇ & Rygel International Bond Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
▇▇▇▇▇▇ & Rygel Tax Exempt Bond Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ &
Rygel Short Bond Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ & Rygel
Intermediate Bond Fund, which shall consist of three classes of shares
designated as "Class R," "Class S" and "Class I" shares; the ▇▇▇▇▇▇ &
Rygel Investment Quality Bond Fund, which shall consist of three classes
of shares designated as "Class R," "Class S" and "Class I" shares; the
▇▇▇▇▇▇ & Rygel Limited Maturity Fund, which shall consist of two classes
of shares designated as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ &
Rygel Short Duration Tax Exempt Bond Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
▇▇▇▇▇▇ & Rygel U.S. Treasury Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ & Rygel
Market Return Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ & Rygel Growth
& Income Fund, which shall consist of two classes of shares designated
as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ & Rygel Global Short Bond
Fund, which shall consist of two classes of shares designated as "Class
R" and "Class S" shares; the ▇▇▇▇▇▇ & Rygel Total Return Fund, which
shall consist of three classes of shares designated as "Class R," "Class
S" and "Class I" shares; the ▇▇▇▇▇▇ & Rygel International Equity Fund,
which shall consist of two classes of shares designated as "Class R" and
"Class S" shares; the ▇▇▇▇▇▇ & Rygel Global Balanced Fund, which shall
consist of two classes of shares designated as "Class R" and "Class S"
shares; the ▇▇▇▇▇▇ & Rygel European Growth & Income Fund, which shall
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consist of two classes of shares designated as "Class R" and "Class S"
shares; the ▇▇▇▇▇▇ & Rygel High Income Fund, which shall consist of two
classes of shares designated as "Class R" and "Class S" shares; the
▇▇▇▇▇▇ & Rygel Value Stock Fund, which shall consist of two classes of
shares designated as "Class R" and "Class S" shares; the ▇▇▇▇▇▇ & Rygel
Growth Stock Fund, which shall consist of two classes of shares
designated as "Class R" and "Class S" shares; and the PRAAM Money Market
Fund, which shall consist of two classes of shares designated as "Class
R" and "Class D" shares. The shares of each Sub-Trust and classes
thereof and any shares of any further Sub-Trusts and classes thereof
that may from time to time be established and designated by the Trustees
shall (unless the Trustees otherwise determine with respect to some
further Sub-Trust or class a the time of establishing and designating
the same) have the following relative rights and preferences:".
The undersigned hereby certify that the Amendment set forth above has
been duly adopted in accordance with the provisions of the Master Trust
Agreement.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands for
themselves and their assigns, as of the day and year first above written. This
instrument may be executed in one or more counterparts, all of which shall
together constitute a single instrument.
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