| April 28, 2023 |
William Blair Investment Management, LLC
150 North Riverside Plaza
Chicago, IL 60606
| Re: | Management Agreement with William Blair Funds dated December 15, 1999 (the “Management Agreement”) |
Ladies and Gentlemen:
Pursuant to Section 7 of the Management Agreement, William Blair Investment Management, LLC proposes to amend the Management Agreement to reduce the management fee for the Funds below effective May 1, 2023 as follows:
| FROM: | TO: | |
| William Blair Small-Mid Cap Growth Fund 1.00% of average daily net assets |
0.94% of average daily net assets | |
| William Blair Small Cap Growth Fund 1.10% of average daily net assets |
0.94% of average daily net assets | |
Attached hereto is Appendix A to the Management Agreement to reflect the revised management fees.
By signing below, William Blair Investment Management, LLC acknowledges that this amendment to the Management Agreement may be enforced against it.
| WILLIAM BLAIR FUNDS | ||
| By: /s/ John M. Raczek | ||
| Name: John M. Raczek | ||
| Title: Treasurer, William Blair Funds | ||
| Accepted this 28th day of April, 2023. | ||
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | ||
| By: /s/ Cissie Citardi | ||
| Name: Cissie Citardi | ||
| Title: Partner | ||
APPENDIX A
MANAGEMENT FEES
William Blair China Growth Fund:
0.94% of average daily net assets
William Blair Emerging Markets Debt Fund:
0.65% of average daily net assets
William Blair Emerging Markets ex China Growth Fund:
0.94% of average daily net assets
William Blair Emerging Markets Growth Fund:
0.94% of average daily net assets
William Blair Emerging Markets Leaders Fund:
0.94% of average daily net assets
William Blair Emerging Markets Small Cap Growth Fund:
1.10% of average daily net assets
William Blair Global Leaders Fund:
0.85% of average daily net assets
William Blair Growth Fund:
0.75% of average daily net assets
William Blair Institutional International Growth Fund:
0.94% of the first $1.875 billion of average daily net assets;
0.90% of the next $625 million of average daily net assets;
0.875% of the next $2.5 billion of average daily net assets;
0.85% of the next $5 billion of average daily net assets;
0.825% of the next $5 billion of average daily net assets;
0.80% of average daily net assets over $15 billion
William Blair International Growth Fund:
0.94% on the first $3 billion of average daily net assets;
0.90% of the next $2 billion of average daily net assets;
0.85% of the next $5 billion of average daily net assets;
0.825% of the next $5 billion of average daily net assets;
0.80% of average daily net assets over $15 billion
William Blair International Leaders Fund:
0.85% of average daily net assets
William Blair International Small Cap Growth Fund:
1.00% of average daily net assets
William Blair Large Cap Growth Fund:
0.60% of average daily net assets
William Blair Mid Cap Growth Fund:
0.90% of average daily net assets
William Blair Mid Cap Value Fund:
0.70% of average daily net assets
William Blair Small Cap Growth Fund:
0.94% of average daily net assets
William Blair Small Cap Value Fund:
0.75% of average daily net assets
William Blair Small-Mid Cap Core Fund:
0.90% of average daily net assets
William Blair Small-Mid Cap Growth Fund:
0.94% of average daily net assets