EX-99.(H-8) 10 a11-32271_1ex99dh8.htm EX-99.(H-8)

EXHIBIT 99.(h-8)

 

AMENDMENT TO ACCOUNTING AGENCY AGREEMENT

 

This Amendment to Accounting Agency Agreement (the “Amendment”) is dated as of June 1, 2009, by and between the management investment companies set forth on Exhibit A attached hereto (the “Funds”), and Brown Brothers Harriman & Co., a New York limited partnership with an office in Boston, Massachusetts (the “Administrator”).

 

WHEREAS, pursuant to the Accounting Agency Agreement dated as of February 29, 2008 by and between the Administrator and the Funds, as amended to date (the “Agreement”), the Administrator has been appointed to provide the services as set forth on Appendix B;

 

WHEREAS the Funds and the Administrator have agreed to make certain modifications to the terms of the Agreement;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties hereby agree to amend the Agreement as follows:

 

I.                                         Amendments to the Agreement

 

1.                                       Appendix B to the Agreement is hereby restated in its entirety as set forth herein:

 

The Administrator will provide the following fund accounting services to each Portfolio each day that such Portfolio and the New York Stock Exchange (“NYSE”) is open (each a “Business Day”); transaction processing and review, custodial reconciliation, securities pricing and investment accounting.

 

Transaction Processing and Review.  The Administrator shall input and reconcile each Portfolio’s investment activity including with respect to:

·                  Investment taxlots

·                  Income

·                  Dividends

·                  Principal paydowns

·                  Capital activity

·                  Expense accruals

·                  Cash activity

·                  Corporate Reorganizations

 

Custodial Reconciliation.  The Administrator shall reconcile the following positions of each Portfolio against the records of the Custodian:

·                  Securities holdings

·                  Cash including cash transfers, fees assessed and other investment related cash transactions

·                  Trade settlements

 

Securities Pricing. The Administrator shall update each security position of each Portfolio as to the following:

·                  Market prices obtained from approved sources including those listed on Appendix D or Fair Valuations obtained from an Authorized Person of the Fund

 


 

·                  Mark to market of non-base receivables/payables utilizing approved foreign exchange quotations as quoted in Appendix D

·                  Mark to market of non-base currency positions utilizing the approved sources quoted in Appendix D or Fair Valuations obtained from an Authorized Person of the Fund

 

Investment Accounting.   The Administrator shall provide the following investment accounting services to each Portfolio:

·                  Amortization/accretion at the individual tax lot level

·                  General ledger entries

·                  Book value calculations

·                  Trade Date + 1 accounting

·                  Calculation of Net Asset Value Per Share (“NAV”) as of the close of business of theNYSE

 

Tax Services. The Administrator shall provide the following tax reporting services:

·                  Prepare wash sales calculations for tax purposes using GainsKeeper for each Portfolio

·                  Prepare CPDI calculations for the Castle Convertible Fund

 

2.                                       Appendix D to the Agreement is hereby restated in its entirety as set forth herein:

 

The Fund hereby acknowledges that the Administrator is authorized to use the following authorized sources and their successors and assigns for financial reporting, compliance monitoring, performance measurement, pricing (including corporate actions, dividends and rights offering), and foreign exchange quotations, to assist it in fulfilling its obligations under the aforementioned Agreement.

 

BLOOMBERG

RUSSELL/MELLON

EXTEL (LONDON)

FUND MANAGERS

INTERACTIVE DATA CORPORATION

REPUTABLE BROKERS

REUTERS

SUBCUSTODIAN BANKS

TELEKURS

VALORINFORM (GENEVA)

REPUTABLE FINANCIAL PUBLICATIONS

STOCK EXCHANGES

FINANCIAL INFORMATION INC. CARD

JJKENNY

FRI CORPORATION

MORGAN STANLEY CAPITAL INTERNATIONAL

GAINSKEEPER

 

3.                                       The Fees for the additional services hereunder shall be charged pursuant to the schedule as mutually agreed by the parties.

 

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II.                                     Miscellaneous

 

1.                                       As amended hereby, all terms and provisions of the Agreement are hereby ratified and affirmed as of the date hereof and are hereby extended to give effect to the terms hereof.

 

2.                                       By signing below where indicated, the Funds hereby ratify and affirm each of the representations and warranties set forth in the Agreement and confirms that each representation and warranty remains true and correct as of the date hereof.

 

3.                                       Upon receipt by the Administrator of a fully executed copy of this Amendment, this Amendment shall be deemed to be governed by such laws as provided in Section 19 of the Agreement. This Amendment may be executed in original counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Amendment.

 

 

BROWN BROTHERS HARRIMAN & CO.

 

 

By:

/s/ Hugh B. Bolton

 

Name:

Hugh B. Bolton

 

Title:

Senior Vice President

 

 

 

The Management Investment Companies set forth in

Appendix A hereto acting on behalf of their respective

Portfolios thereof, if any

 

 

By:

/s/ Michael D. Martins

 

Name:

Michael D. Martins

 

Title:

Treasurer

 

 

 

 

Date:

June 1, 2009

 

 

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APPENDIX A

 

TO

 

ACCOUNTING AGENCY AGREEMENT

 

The following is a list of Portfolios for which the Administrator serves under an Administrative Agency Agreement dated as of February 29, 2008:

 

Fund

 

Portfolio

 

 

 

The Alger Funds

 

Alger Growth Opportunities Fund

 

 

Alger SmallCap Growth Fund

 

 

Alger SMidCap Growth Fund

 

 

Alger MidCap Growth Fund

 

 

Alger LargeCap Growth Fund

 

 

Alger Capital Appreciation Fund

 

 

Alger Health Sciences Fund

 

 

Alger Balanced Fund

 

 

Alger Money Market Fund

 

 

Alger International Opportunities Fund

 

 

 

The Alger Funds II

 

Alger Spectra Fund

 

 

Alger Green Fund

 

 

Alger Analyst Fund

 

 

 

Alger China-US Growth Fund

 

n/a

 

 

 

Alger Convertible Fund, Inc.

 

n/a

 

 

 

The Alger Institutional Funds

 

Alger SmallCap Growth Institutional Fund

 

 

Alger MidCap Growth Institutional Fund

 

 

Alger Large-Cap Growth Institutional Fund

 

 

Alger Capital Appreciation Institutional Fund

 

 

 

The Alger American Fund

 

Alger American SmallCap Growth Portfolio

 

 

Alger American LargeCap Growth Portfolio

 

 

Alger American Income & Growth Portfolio

 

 

Alger American Balanced Portfolio

 

 

Alger American MidCap Growth Portfolio

 

 

Alger American Capital Appreciation Portfolio

 

 

Alger American SMidCap Growth Portfolio

 

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