JULIUS BAER INVESTMENT FUNDS
                          ----------------------------

                 AMENDMENT NO. 10 TO THE MASTER TRUST AGREEMENT
           (Change of Name of the Julius Baer Global High Yield Fund)

         The  undersigned,  Assistant  Secretary of Julius Baer Investment Funds
(the  "Trust"),  does hereby certify that pursuant to Article I, Section 1.1 and
Article VII, Section 7.3 of the Master Trust Agreement dated April 30, 1992, the
following resolutions were duly adopted by the Board of Trustees at a Meeting of
the Board of Trustees  held on March 5, 2003,  at which a quorum was present and
acting throughout:

         RESOLVED,  that the  renaming  of the Julius  Baer Global High
         Yield Fund as the Julius  Baer Global High Yield Bond Fund be,
         and hereby is, approved and ratified, in all respects; and

         FURTHER RESOLVED,  that the actions of the officers previously
         taken with  respect  to the name  change,  be and hereby  are,
         approved  and  ratified;  and the  officers of the Julius Baer
         Investment  Funds, be, and hereby are,  authorized to take any
         further  actions which they, with the advise of legal counsel,
         may deem  necessary or  appropriate  to  effectuate  such name
         change.

         IN WITNESS WHEREOF, the undersigned has hereunto set her hand this 20th
day of September, 2005.


                                                  /s/ Dorothy Sanders
                                                  ------------------------------
                                                  Dorothy Sanders
                                                  Assistant Secretary