84 NOTES TO FINANCIAL STATEMENTS
Table of Contents
Accounting, Custody and Transfer Agent Fees
Citi Fund Services Ohio, Inc. (“Citi”) is the fund accounting agent for
the Funds. For its services, the Trust pays Citi 0.03% on the first
$1.75 billion of net assets, 0.0175% on net assets over $1.75 billion
and up to $5 billion, and 0.01% on net assets in excess of $5 billion.
Brown Brothers Harriman (“BBH”) is the custodian of the Trust’s
investments. Effective July 1, 2009, for domestic custody services,
the Trust pays BBH 0.0050% on the first $250 million of assets,
0.0040% on the second $250 million of assets and 0.0025% on
domestic assets above $500 million, plus certain transaction
charges. Prior to July 1, 2009, the Trust paid BBH 0.0065% on the
first $50 million of assets and 0.0050% on domestic assets above
$50 million. For foreign custody services, the Trust pays BBH 0.03%
on foreign assets plus certain transaction charges.
Boston Financial Data Services, Inc. (“BFDS”) is the Trust’s transfer
agent. For these services, the Trust pays an account fee of $13.25
per open account, $7.00 per networked account, $1.80 per closed
account, plus certain other transaction and cusip charges.
The Trust has entered into an administrative services agreement
with ICON Advisers pursuant to which ICON Advisers oversees the
administration of the Trust’s business and affairs. This agreement
provides for an annual fee of 0.05% on the Funds’ first $1.5 billion of
average daily net assets, 0.045% on the next $1.5 billion of average
daily net assets, 0.040% on the next $2 billion of average daily net
assets and 0.030% on average daily net assets over $5 billion.
During the year ended September 30, 2009, the Funds’ payment for
administrative services to ICON Advisers is included on the
Statement of Operations. The administrative services agreement
provides that ICON Advisers will not be liable for any error of
judgment, mistake of