EX-99.23.d(iii)
AMENDMENT TO MANAGEMENT AGREEMENT
Amendment dated as of July 1, 2000 to the Management Agreement dated as of
March 1, 1999, as amended by the Addendum to Management Agreement dated as of
July 1, 1999 (the "Agreement") between Diamond Hill Capital Management, Inc.,
f/k/a Heartland Advisory Group, Inc. (the "Adviser") and The BSG Funds (the
"Trust").
RECITALS
A. The Agreement authorizes the payment of a monthly management fee equal
to an annual rate of 2.25% of the average value of the daily net
assets of the Banc Stock Group Fund (the "Fund").
B. Effective July 1, 1999, the Adviser agreed to permanently waive its
management fee to an annual rate of 1.70% of the Fund's average daily
net assets.
C. The Adviser desires to make a permanent reduction of its fees, and the
Trust has agreed to accept such reduction.
NOW THEREFORE, it is agreed that:
1. Effective as of July 1, 2000, the first paragraph of Section 3 of the
Agreement is replaced in its entirety with the following:
For all of the services to be rendered and payments to be made as
provided in this Agreement, as of the last business day of each
month, the Fund will pay you a fee at the annual rate of 1.50% of
the average value of its daily net assets.
2. The Agreement is unchanged in all other respects.
IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by
their officers designated below, all as of the date first written above.
DIAMOND HILL CAPITAL MANAGEMENT, INC.
By: /s/ Roderick H. Dillon, Jr.
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Name: Roderick H. Dillon, Jr.
Title: President and CEO
ACCEPTED BY:
THE BSG FUNDS
By: /s/ Lisa R. Hunter
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Name: Lisa R. Hunter
Title: Secretary and Treasurer
