EX-99.J.2 3 d72171dex99j2.htm EX-99.J.2 EX-99.J.2

Exhibit (j)(2)

FIRST AMENDMENT TO THE

DOUBLELINE OPPORTUNISTIC CREDIT FUND

AMENDED AND RESTATED CUSTODY AGREEMENT

This First Amendment, dated as of the last date on the signature page hereto, to the Amended and Restated Custody Agreement dated December 6, 2019 (the “Agreement”), is entered into by and between DOUBLELINE OPPORTUNISTIC CREDIT FUND, a Massachusetts trust (the “Fund”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America with its principal place of business at Minneapolis, Minnesota (the “Custodian”).

WHEREAS, the parties have entered into the Agreement;

WHEREAS, the Fund and the Custodian desire to amend the fee schedule of the Agreement; and

WHEREAS, Article XV, Section 15.2 of the Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties agree as follows:

Exhibit C of the Agreement is hereby superseded and replaced in its entirety with Amended Exhibit C attached hereto.

Except to the extent amended hereby, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by a duly authorized officer on one or more counterparts as of the last date written below.

 

DOUBLELINE OPPORTUNISTIC CREDIT FUND    

U.S. BANK NATIONAL ASSOCIATION

By:   /s/ Ronald Redell  

 

   By:   /s/ Anita Zagrodnik
Name:   Ronald Redell  

 

   Name:   Anita Zagrodnik
Title:   President  

 

   Title:   Senior Vice President
Date:   September 3, 2020  

 

   Date:   September 3, 2020

EXHIBIT C

 

DOUBLELINE OPPORTUNISTIC CREDIT FUND

ANNUAL FEE SCHEDULE at September 2020

Annual Fee Based Upon Average Total Managed Assets Per Fund

2 basis points on average total managed assets (based on the comprehensive services provided to the Fund by Custodian and/or its affiliates in addition to Domestic Custody)

Portfolio Transaction Fees

$4.00 /book entry DTC transaction/Federal Reserve transaction/principal paydown

$7.00 /U.S. Bank repurchase agreement transaction

$6.00 /short sale

$8.00 /option/future contract written, exercised or expired

$15.00 /mutual fund trade/Fed wire/margin variation Fed wire

$50.00 /physical security transaction

$5.00 /disbursement (waived if U.S. Bancorp is Administrator)

$150.00 /segregated account per year

 

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A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.

◾

No charge for the initial conversion free receipt.

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Overdrafts – charged to the account at prime interest rate plus 2.

Miscellaneous Expenses

Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, deposit withdrawals at custodian (DWAC) fees, and extraordinary expenses based upon complexity.

Fees are billed monthly.

Exhibit C (Continued) DOUBLELINE OPPORTUNISTIC CREDIT FUND

GLOBAL SUB-CUSTODIAL SERVICES

ANNUAL FEE SCHEDULE

Country    Instrument    Safekeeping
(BPS)		    Transaction
Fee		         Country    Instrument    Safekeeping
(BPS)		    Transaction
Fee
Argentina    All    12.00    $32         Lebanon    All    20.00    $72
Australia    All    1.00    $15         Lithuania    All    16.00    $40
Austria    All    1.70    $17         Luxembourg    All    3.20    $25
Bahrain    All    40.00    $112         Malaysia    All    2.90    $39
Bangladesh    All    32.00    $120         Mali*    All    32.00    $124
Belgium    All    1.20    $22         Malta    All    17.60    $60
Benin*    All    32.00    $124         Mauritius    All    24.00    $80
Bermuda    All    12.00    $48         Mexico    All    1.50    $10
Botswana    All    20.00    $40         Morocco    All    28.00    $80
Brazil    All    7.20    $17         Namibia    All    24.00    $40
Bulgaria    All    32.00    $64         Netherlands    All    1.50    $12
Burkina Faso*    All    32.00    $124         New Zealand    All    2.00    $26
Canada    All    1.00    $6         Niger*    All    32.00    $124
Cayman Islands*    All    0.80    $8         Nigeria    All    24.00    $40
Channel Islands*    All    1.20    $20         Norway    All    1.50    $22
Chile    All    16.00    $48         Oman    All    40.00    $112
China“A” Shares    All    9.60    $42         Pakistan    All    24.00    $80
China“B” Shares    All    9.60    $42         Peru    All    35.00    $85
Columbia    All    32.00    $80         Philippines    All    3.90    $36
Costa Rica    All    12.00    $48         Poland    All    12.00    $24
Croatia    All    28.00    $52         Portugal    All    4.80    $39
Cyprus*    All    12.00    $45         Qatar    All    36.00    $112
Czech Republic    All    9.60    $24         Romania    All    28.00    $80
Denmark    All    1.50    $24         Russia    Equities/Bonds    30.00    $165
Ecuador    All    28.00    $52         Russia    MINFINs    12.00    $40
Egypt    All    25.60    $64         Senegal*    All    32.00    $124
Estonia    All    5.60    $20         Singapore    All    1.50    $20
Euromarkets(3)    All    1.00    $4         Slovak Republic    All    20.00    $88
Finland    All    2.40    $22         Slovenia    All    20.00    $88
France    All    1.00    $15         South Africa    All    1.50    $8
Germany    All    1.00    $15         South Korea    All    4.80    $10
Ghana    All    20.00    $40         Spain    All    1.00    $15
Greece    All    7.20    $33         Sri Lanka    All    12.00    $48
Guinea Bissau*    All    40.00    $124         Swaziland    All    24.00    $40
Hong Kong    All    2.00    $25         Sweden    All    1.00    $22
Hungary    All    20.00    $60         Switzerland    All    1.00    $24
Iceland    All    12.00    $45         Taiwan    All    12.00    $64
India    All    8.00    $84         Thailand    All    2.90    $22
Indonesia    All    5.80    $68         Togo*    All    32.00    $124
Ireland    All    1.50    $15         Trinidad & Tobago*    All    24.00    $52
Israel    All    9.60    $29         Tunisia    All    32.00    $36
Italy    All    1.50    $24         Turkey    All    9.60    $10
Ivory Coast    All    32.00    $124         UAE    All    36.00    $104
Jamaica*    All    28.00    $40         United Kingdom    All    1.00    $5
Japan    All    1.00    $8         Ukraine    All    19.20    $29
Jordan    All    32.00    $100         Uruguay    All    40.00    $52
Kazakhstan    All    48.00    $120         Venezuela    All    32.00    $100
Kenya    All    24.00    $40         Vietnam*    All    32.00    $104
Latvia    Equities    12.00    $60         Zambia    All    24.00    $40
Latvia    Bonds    20.00    $72                         

* Additional customer documentation and indemnification will be required prior to establishing accounts in these markets.

 

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Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request).

◾

For all other markets specified above, surcharges may apply if a security is held outside of the local market.

Straight Through Processing – fees waived.

Cash Transactions:

◾

3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a 3rd party will be charged $50.

Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $50 per claim.

Miscellaneous Expenses

◾

Charges incurred by U.S. Bank, N.A. for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees, proxy services and other shareholder communications or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred.

◾

A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate.

◾

SWIFT reporting and message fees.

Exhibit C (continued) to the Amended & Restated Custody Agreement

 

Schedule of Fees at September 2020

for Services as

 

Bank Loan Custodian - DoubleLine Funds

 

Initial Acceptance Fee per Custodial Account:

Covers the complete review of all the transaction agreements, establishment of the collateral database and report development. Payable at closing.

    $1,000.00

Annual Administration Fee:

Compensation for the duties of custodian, collateral administrator and all other administrative and reporting functions under the documents. The fee is based on the quoted basis points times the simple average of the par value of the Collateral on the first and the last day of the Period. This schedule assumes that the custodial accounts will be invested in a U.S. Bank offered permitted investment as defined within the documents. Fee to be paid quarterly in arrears based on the actual number of days in the Period.

 

This schedule assumes a minimum annual administration fee of $5,000.

    2.00 Basis Points

Loan Pricing:

Compensation for monthly pricing of loan positions. Fee payable monthly.

   

$14.00 per loan

 

(Monthly)

Out-of-Pocket Expenses:

Includes all related expenses, including but not limited to: postage, travel, counsel fees and disbursements. Payable at closing.

    AT COST