Three Bank of America funds amend distributor reimbursement agreement

By Toni Weeks

San Diego, March 20 - Bank of America Funds Series Trust negotiated a reimbursement agreement with the distributor for three of its funds, according to a 497 filing with the Securities and Exchange Commission.

As a result, the distributor, BofA Distributors, Inc., will reimburse some class-specific fund expenses to the extent necessary to maintain a minimum annualized net yield of 0.02% for all classes of the BofA Government Plus Reserves and a net yield of 0.01% for all classes of the BofA Government Reserves and the BofA Treasury Reserves.

The agreement is effective Tuesday. Prior to this, the distributor reimbursed expenses as necessary to maintain a minimum net yield of 0% for all share classes.

The adviser will also reimburse some advisory and administrative fees to the extent necessary to maintain the applicable net yield for each fund in the event the distributor's reimbursement is not sufficient.

Boston-based BofA Advisors, LLC serves as the investment adviser to each fund.

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