EX-99.(G)(1)(I) 2 a13-22605_1ex99dg1i.htm EX-99.(G)(1)(I)

Exhibit 99.(g)(1)(i)

 

 

 

Touchstone Investments

 


 

I.

Global Custody Charges

3

 

 

 

II.

Securities Lending

6

 

 

 

III.

Out of Pocket Expenses

7

 

 

 

IV.

Billing

7

 

 

 

V.

Assumptions and Parameters

7

 

2


 

I.                Global Custody Charges

 

Safekeeping & Transaction Charges

 

The annual basis point charges are applied monthly to the settled positions as reflected on BBH’s custody system at month end.

 

In addition to safekeeping, the asset charge covers the registrations of shares in BBH’s nominee name, timely notification of corporate action information, and corporate action related cash processing (e.g. dividend and interest collections). The asset charge does not include transaction charges related to corporate actions transactions.  Transaction charges are discussed in the paragraph below.

 

Transaction charges are applied to straight through processed (STP) transactions, including corporate action related security movements, in the applicable markets.  Non-STP transactions will incur a surcharge as indicated under transaction surcharges.  Other specialized processing will be charged as indicated under Additional Transaction Charges.

 

Fees for additional markets will be discussed and agreed upon prior to investment.

 

Market

 

Annual Asset
Charge (BP)

 

Transaction
Charge (USD)

Argentina

 

14

 

49

Australia

 

1

 

16

Austria

 

3

 

23

Bahrain

 

38

 

107

Bangladesh

 

32

 

96

Belgium

 

2

 

21

Bermuda

 

12.5

 

55

Botswana

 

35

 

103

Brazil

 

6.5

 

20

Bulgaria

 

30

 

80

Canada

 

0.9

 

7

Chile

 

17

 

68

China

 

14

 

50

Colombia

 

35

 

86

Costa Rica

 

20

 

65

Croatia

 

27

 

75

Cyprus

 

17

 

45

Czech Republic

 

12

 

25

Denmark

 

1.5

 

23

Ecuador

 

33

 

69

Egypt

 

21

 

53

Estonia

 

12

 

47

Euroclear Clearstream

 

0.9

 

8

Finland

 

1.9

 

15

France

 

1

 

15

Germany

 

1

 

10

Ghana

 

36

 

103

Greece

 

9

 

25

Hong Kong

 

1.25

 

10

Hungary

 

12

 

42

Iceland

 

10

 

29

India

 

9

 

40

Indonesia

 

7

 

25

Ireland

 

1.25

 

14.5

Israel

 

7.5

 

10

Italy

 

1

 

13

Ivory Coast

 

39

 

1.9

Japan

 

1

 

8.5

Jordan

 

35

 

118

Kazakhstan

 

36

 

96

Kenya

 

35

 

87

Kuwait

 

33

 

99

Latvia

 

31

 

40

Lebanon

 

35

 

117

Lithuania

 

22

 

40

Luxembourg

 

5

 

41

 

3


 

Market

 

Annual Asset
Charge (BP)

 

Transaction
Charge (USD)

Malaysia

 

3.75

 

28.5

Malta

 

21

 

68

Mauritius

 

27

 

72

Mexico

 

2.75

 

14

Morocco

 

33

 

76

Namibia

 

31

 

62

Netherlands

 

1.5

 

11

New Zealand

 

2

 

15

Nigeria

 

29

 

51

Norway

 

1.75

 

16

Oman

 

38

 

125

Pakistan

 

28

 

89

Palestine

 

45

 

128

Peru

 

25

 

73

Philippines

 

8

 

49

Poland

 

10

 

42

Portugal

 

4

 

33

Qatar

 

36

 

120

Romania

 

27

 

65

Russia

 

18

 

78

Saudi Arabia

 

32

 

93

Singapore

 

2.5

 

20

Slovak Republic

 

25

 

88

Slovenia

 

35

 

65

South Africa

 

2

 

17

South Korea

 

4

 

22

Spain

 

1.5

 

15

Sri Lanka

 

14

 

77

Swaziland

 

36

 

63

Sweden

 

1.75

 

14

Switzerland

 

1.5

 

14

Taiwan

 

8

 

31

Thailand

 

4

 

25

Trinidad

 

30

 

55

Tunisia

 

38

 

66

Turkey

 

6

 

27

Ukraine

 

35

 

64

United Arab Emirates

 

38

 

125

United Kingdom

 

0.75

 

6

United States

 

0.125

 

2.0

Uruguay

 

40

 

80

Venezuela

 

34

 

92

Vietnam

 

31

 

88

Zambia

 

35

 

73

Zimbabwe

 

33

 

82

 

GRAPHIC

 

NOTE:

 

 

1.     Unpriced fixed income instruments are valued at par.

2.     Unpriced asset backed instruments are valued at current face.

3.     Transaction charge is assessed per partial settlement.

4.     Securities lending related movements are charged at the relevant transaction rates per market.

5.     US is defined as DTC, FRB, and NY Vault held assets.

6.     Assets held away incur transactions and asset charges at the US market rate.

 

The below asset charges will be applied incrementally based on the asset value of the denoted tiers.

 

4


 

Additional Transaction Charges

 

The transaction charges are applicable to specialized processing.

 

Transaction Type

 

Charge (USD)

Security Transactions

Trade Cancel

 

10

US Vault Transfers — each side

 

0

Repurchase Agreement

 

0

Commercial Paper

 

0

Physical Securities Settlement

 

25

Cash Transactions

USD Wire Payment (Debit or Credit)

 

FRB - 5

CHIPS - 5

ACH - 5

Non USD Wire Payment (Debit or Credit)

 

7

Transfer of Cash between Accounts (Book Transfer)

 

      Year 1 = 2

      Year 2 = 3

      Year 3 thereafter =  4

Cashier Checks

 

10

Time Deposit

 

0

Paydowns

 

0

Corporate Actions

Tax Reclaim

 

60

Maturity

 

20

Proxy Announcement (Non US)

 

5

Proxy Vote (Non US)

 

10

MT599

 

10

Depository Reorganization

(Security Events)

 

40

 

 

 

Transaction Type

 

Charge (USD)

Class Actions

Class Action Service

 

1,000/fund (per annum)*

Notification & Filing

 

750/fund/action

 


*Applicable and billed in full with first class action filing.

 

5


 

Transaction Surcharges

 

The transaction surcharges are applied over and above the STP transaction charges.

 

Transaction Type

 

Charge (USD)

Security Transactions

Manual Trade

 

   Year 1 = 5

   Year 2 = 10

   Year 3 thereafter =  20

Repaired Trade

 

4

Cash Transactions

Manual Cash Movement

 

0

3rd Party Foreign Exchange

 

20

 

GRAPHIC

 

NOTE:

 

 

7.     For settlement transactions to be automated, instructions must be received by properly formatted SWIFT industry standard messages (excluding MT599 messages) or via BBH proprietary communication system.

8.     Repaired instructions surcharges are applied to incomplete and/or missing market settlement information. Trade enrichment for PSET (Place of Settlement) and Local ID are considered repair items

9.     Repaired Trade surcharge are only applied to client instruction issues only.

 

II.           Securities Lending

 

BBH is pleased to offer Securities Lending to Touchstone Investments.

 

BBH will waive all market transaction charges associated with loan payments, recalls and associated collateral movements for those assets which BBH provides custody and securities lending.

 

As part of the Securities Lending relationship we offer a revenue split as detailed in the Schedule to your Securities Lending Agency Agreement (SLAA).  For Securities Lending service provisions please refer to the discrete Securities Lending agreement or contact your local Relationship Manager.

 

6


 

III.      Out of Pocket Expenses

 

Out-of-pocket expenses may include, but are not limited to, postage, courier and overnight mail charges, telephone and telecommunication charges, including fax charges, duplicating charges including those relating to filings with federal and state regulatory authorities and Board meeting materials, forms and supplies including those relating to Board meeting materials, travel and lodging expenses relating to travel to and from Board meetings, certain filings with federal and/or state regulatory filings, customized computer programming requests, charges for organizing documents, pricing service charges, record retention, reproduction, retrieval and destruction costs, locally mandated charges, subcustodian communications expenses, telex expenses, audit reporting expenses, legal expenses, direct expenses such as tax reclaims, stamp duties, foreign investor registration, commissions, dividend and income collection charges, proxy charges when the agent is not in the U.S., taxes, certificate fees, special handling, transfer, withdrawal, Euroclear deposit and withdrawal charges, holding charges, lifting fees and inquiry fees from correspondents and registration fees, and other expenses as agreed to by the parties from time to time would be applied to your account.

 

IV.       Billing

 

Fees are payable on a monthly basis in US Dollars.

 

BBH will automatically debit the agreed upon account, specified in the direct debit authorization letter for the invoiced amount.

 

V.            Assumptions and Parameters

 

This fee schedule is confidential and may not be disclosed to any third party without prior consent of both parties. This fee schedule may not be republished.

 

Fees quoted above are offered contingent upon the information provided and assume the actual experience will not be materially different from projected activity.  BBH reserves the right to modify this fee schedule as additional markets and/or services are introduced.

 

7


 

Accepted and agreed:

 

Fee Schedule Effective Date:     February 1, 2013

 

BROWN BROTHERS HARRIMAN & CO.

 

 

By:

/s/Michael A. Saunders

 

Name: Michael A. Saunders

 

Title: Managing Director

 

 

 

Touchstone Investment Trust for itself and on behalf of each series thereof

 

Touchstone Strategic Trust for itself and on behalf of each series thereof

 

 

 

By:

/s/Terrie Wiedenheft

 

By:

/s/Terrie Wiedenheft

Name: Terrie Wiedenheft

 

Name: Terrie Wiedenheft

Title: Controller and Treasurer

 

Title: Controller and Treasurer

 

 

 

Touchstone Variable Series Trust for itself and on behalf of each series thereof

 

Touchstone Tax Free Trust for itself and on behalf of each series thereof

 

 

 

By:

/s/Terrie Wiedenheft

 

By:

/s/Terrie Wiedenheft

Name: Terrie Wiedenheft

 

Name: Terrie Wiedenheft

Title: Controller and Treasurer

 

Title: Controller and Treasurer

 

 

 

Touchstone Institutional Funds Trust for itself and on behalf of each series thereof

 

Touchstone Funds Group Trust for itself and on behalf of each series thereof

 

 

 

By:

/s/Terrie Wiedenheft

 

By:

/s/Terrie Wiedenheft

Name: Terrie Wiedenheft

 

Name: Terrie Wiedenheft

Title: Controller and Treasurer

 

Title: Controller and Treasurer

 

8


 

Touchstone Investments agrees to pay Brown Brothers Harriman the fees in the amount set forth in the fee schedule in effect on the date hereof or as amended from time to time.

 

9