Common use of Adviser's Duties Clause in Contracts

Adviser's Duties. Subject to the general supervision of the Trust's Board of Trustees (the "Board") and the Manager, the Adviser shall, employing its discretion, manage the investment operations of each Fund and the composition of the portfolio of securities and investments (including cash) belonging to each Fund, including the purchase, retention and disposition thereof and the execution of agreements relating thereto, in accordance with the Fund's investment objective, policies and restrictions as stated in the Trust's then-current Prospectus and Statement of Additional Information (together, the "Prospectus") and subject to the following understandings:

Adviser's Duties. Subject to the general supervision of the Trust's ’s Board of Trustees (the "“Board"”) and the Manager, the Adviser shall, employing its discretion, manage the investment operations of each Fund and the composition of the portfolio of securities and investments (including cash) belonging to each Fund, including the purchase, retention and disposition thereof and the execution of agreements relating thereto, in accordance with the Fund's ’s investment objective, policies and restrictions as stated in the Trust's ’s then-current Prospectus and Statement of Additional Information (together, the "“Prospectus"”) and subject to the following understandings:

Adviser's Duties. Subject to the general supervision of the ----------------- Trust's Board of Trustees (the "Board") and the Manager, the Adviser shall, employing its discretion, manage the investment operations of each Fund and the composition of the portfolio of securities and investments (including cash) belonging to each Fund, including the purchase, retention and disposition thereof and the execution of agreements relating thereto, in accordance with the Fund's investment objective, policies and restrictions as stated in the Trust's then-current Prospectus and Statement of Additional Information (together, the "Prospectus") and subject to the following understandings:

Adviser's Duties. Subject to the general supervision of the Trust's ’s Board of Trustees (the "“Board"”) and the Manager, the Adviser shall, employing its discretion, manage the investment operations of Of each Fund and the composition of the portfolio of securities and investments (including cash) belonging to each Fund, including the purchase, retention and disposition thereof and the execution of agreements relating thereto, in accordance with the Fund's ’s investment objective, policies and restrictions as stated in the Trust's ’s then-current Prospectus and Statement of Additional Information (together, the "“Prospectus"”) and subject to the following understandings:

Adviser's Duties. Subject to the general supervision of the Trust's Board of Trustees (the "Board") and the Manager, the Adviser shall, employing its discretion, manage the investment operations of each Fund and the composition of the portfolio of securities and investments (including cash) belonging to each Fund, including the purchase, retention and disposition thereof and the execution of agreements relating thereto, in accordance with the Fund's investment objective, policies and restrictions as stated in the TrustFund's then-current Prospectus and Statement of Additional Information (together, the "Prospectus") and subject to the following understandings: