AMENDMENT NO. 4
                                     TO THE
                     ADMINISTRATION AND ACCOUNTING AGREEMENT

This Amendment No. 4 to the Administration and Accounting Agreement (this
"Amendment") is made as of March 31, 2006 ("EFFECTIVE DATE OF AMENDMENT NO. 4"),
and shall amend the Administration and Accounting Agreement made as of the 8th
day of October, 2001, as amended (the "Agreement") by and between Schroder
Series Trust, a Massachusetts Business Trust (the "Trust") and SEI INVESTMENTS
MUTUAL FUNDS SERVICES ("the Administrator").

WHEREAS, the Administrator, now known as SEI Investments Global Funds Services,
provides administration and accounting services to the Trust;

WHEREAS each of the parties to the Agreement now wish to amend Schedule B of the
Agreement to effect the Portfolios;

WHEREAS Article 13 of the Agreement permits amendment only by an instrument in
writing signed by the party against which enforcement of the change may be
sought;

NOW THEREFORE, for and in consideration of the promises and the mutual covenants
herein contained, the parties hereby agree as follows:

1.   Amendment to Schedule B of the Agreement. Schedule B of the Agreement is
     hereby amended and restated in its entirety as set forth in Attachment 1 to
     this Amendment.

2.   Except as specifically set forth herein, all other provisions of the
     Agreement shall remain in full force and effect.



IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date first written above.

SEI INVESTMENTS GLOBAL FUNDS SERVICES

By:______________________________________
Name:____________________________________
Title:_____________________________________

SCHRODER SERIES TRUST

By:________________________________________
Name:______________________________________
Title:_______________________________________

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                                  ATTACHMENT #1
                                  -------------

                                   SCHEDULE B
                 TO THE ADMINISTRATION AND ACCOUNTING AGREEMENT
                          DATED AS OF OCTOBER 8, 2001,
                         AMENDED AS OF JANUARY 4, 2004,
                         AMENDED AS OF FEBRUARY 9, 2004,
                         AMENDED AS OF JANUARY 28, 2005
                          AMENDED AS OF MARCH 31, 2006
                                     BETWEEN
                              SCHRODER SERIES TRUST
                                       AND
                      SEI INVESTMENTS GLOBAL FUNDS SERVICES

Portfolios:  This Agreement shall apply with respect to all portfolios of the
             Trust, either now existing or in the future created. The following
             is a list of the current portfolios of the Trust (collectively, the
             "Portfolios"):


               SCHRODER ENHANCED INCOME FUND
               SCHRODER MUNICIPAL BOND FUND
               SCHRODER SHORT-TERM MUNICIPAL BOND FUND
               SCHRODER US CORE FIXED INCOME FUND
               SCHRODER GLOBAL EQUITY YIELD FUND
               SCHRODER GLOBAL INCOME FUND
               SCHRODER EMERGING MARKET EQUITY FUND
               SCHRODER STRATEGIC BOND FUND
               SCHRODER U.S. SMALL AND MID CAP OPPORTUNITIES FUND


Fees:        Pursuant to Article 4, commencing as of November 1, 2004, each
             Portfolio shall pay the Administrator its pro rata portion of the
             following fees, calculated based upon the aggregate average daily
             net assets of Schroder Capital Funds (Delaware) and Schroder Series
             Trust (the "Schroder Funds Complex"):

                  0.115% on the first $600 million of average daily net assets
                  0.11% on the next $400 million of average daily net assets
                  0.09% on the next $1 billion of average daily net assets
                  0.07% on average daily net assets in excess of $2 billion


             This fee schedule is subject to a cumulative minimum annual fee
             for the Schroder Funds Complex of seven (7) Portfolio's in
             existence as of the EFFECTIVE DATE OF AMENDMENT NO. 2 (as defined
             in Amendment No. 2 to the Administration and Accounting
             Agreement), in the amount of $488,000 for all such portfolios and
             classes.

             The minimum fee shall be increased for each Portfolio in excess of
             seven (7) Portfolios in the Schroder Funds Complex in existence as
             of the date of this

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             Amendment, as follows: $50,000 for each Portfolio that invests
             primarily in domestic securities and $70,000 for each Portfolio
             that invests primarily in international securities.

             The minimum fee shall be increased for each new class added to any
             Portfolio in the Schroder Funds Complex after the date of this
             Amendment, as follows: $12,500 for each new class added to a
             Portfolio that invests primarily in domestic securities, and
             $17,500 for each new class added to a Portfolio that invests
             primarily in international securities.

             The minimum fee shall be decreased if any Portfolio in the
             Schroder Funds Complex is fully liquidated after the date of this
             Amendment, as follows: $50,000 for each Portfolio that invests
             primarily in domestic securities and $70,000 for each Portfolio
             that invests primarily in international securities.

             The minimum fee shall be decreased if any class in the Schroder
             Funds Complex is liquidated after the date of this Amendment, as
             follows: $12,500 for each class that invests primarily in domestic
             securities, and $17,500 for each class that invests primarily in
             international securities.

             Notwithstanding the foregoing, under no circumstances will the
             minimum annual fee for the Schroder Funds Complex be less than
             $400,000 for all portfolios and classes in existence during the
             term of the Agreement, as amended.

Term:        The Agreement became effective on November 5, 2001 (executed by
             the parties on October 8, 2001) and, as hereby amended, shall
             remain in effect through October 31, 2006 ("Initial Term") and,
             thereafter, shall automatically renew for successive two (2) year
             terms, unless and until this Agreement is terminated by a party in
             accordance with the provisions of Article 6 of the Agreement.


                               [END OF SCHEDULE B]


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