EXHIBIT 99(g)(3)


                                      ANNEX
                                       TO
                                CUSTODY AGREEMENT
                                     BETWEEN
                 TAMARACK FUNDS TRUST AND WELLS FARGO BANK, N.A.

AGREEMENT made this 31st day of August, 2006 between Tamarack Funds Trust (the
"Trust"), 100 South Fifth Street, Suite 2300, Minneapolis, Minnesota 55402 and
Wells Fargo Bank, N.A. (the "Custodian"), Wells Fargo Center, Sixth and
Marquette, Minneapolis, Minnesota 55479.

WHEREAS, the Trust has established Tamarack Treasury Plus Money Market Fund, a
new fund within the Trust;

WHEREAS, Section 1(l) of the Custody Agreement dated as of August 19, 2004
between the Trust and the Custodian (the "Agreement") provides that the term
"Fund" shall mean "the Funds listed in Appendix A or any Fund that the Trust
shall subsequently establish, provided that the Custodian may decline to act as
custodian for any Fund subsequently established;

WHEREAS, the Trust desires that the Custodian act as custodian for the Tamarack
Treasury Plus Money Market Fund and the Custodian desires to act as custodian
for the Tamarack Treasury Plus Money Market Fund; and

WHEREAS, in accordance with Section 24(h) of the Agreement, the parties wish to
add Tamarack Treasury Plus Money Market Fund to Schedule A to clarify that the
Custodian will provide services to the Tamarack Treasury Plus Money Market Fund
under the terms of the Agreement.

NOW THEREFORE, the parties agree as follows:

Schedule A is revised to include as a new entry: "Tamarack Treasury Plus Money
Market Fund".

This instrument may be executed in one or more counterparts, each of which shall
be an original but all of which, taken together, shall constitute one and the
same agreement.

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed in their names and on their behalf by and through their duly authorized
officers, as of the day and year first above written.

                                          TAMARACK FUNDS TRUST

                                          By: /s/ Jennifer Lammers
                                             ----------------------------------
                                          Name:  Jennifer Lammers
                                          Title: President

                                          WELLS FARGO BANK, N.A.

                                          By: /s/ Scott Rice
                                             ----------------------------------
                                          Name:  Scott Rice
                                          Title: Vice President