Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 9 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 ---------------------- and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds Fund's portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 9 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust), Sun Capital Advisers Trust
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of a Portfolio, neither the Adviser, nor any of its partners, directors, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the a Portfolio’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for a Portfolio. It is also understood, however, understood that it is desirable for the Fund a Portfolio that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund Portfolio than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that each Company’s Board of Directors may issue from time to time the Subadviser deems the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund as well as other clients of minimum commission rates available, if the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trustsub-adviser, as applicable, determines in good faith that such amount of commission is reasonable in relation to the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account value of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal brokerage or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities research services provided by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting such broker or dealer, viewed in terms of either that particular transaction or the Adviser’s or the sub-adviser’s overall responsibilities with respect to a Portfolio and such other information as advisory clients. The Adviser’s services to a Portfolio pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Adviser may be reasonably requiredrender investment advice, management and other services to others.
Appears in 6 contracts
Samples: Investment Management Agreement (Hartford Mutual Funds Ii Inc), Investment Management Agreement (Hartford HLS Series Fund Ii Inc), Investment Management Agreement (Hartford Mutual Funds Inc/Ct)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 6 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 ---------------------- and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds the Fund's portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 5 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Sun Capital Advisers Trust, Sun Capital Advisers Trust
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a the Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 5 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Subadviser shall use its best efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 5 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement for Subadviser (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 5 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the each Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the a Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 4 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund Portfolio with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund Portfolio the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors it deems relevant, including, without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund Portfolio that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund Portfolio than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund Portfolio with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Portfolio and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Portfolio. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund Portfolio as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Portfolio and to such other clients. The Subadviser will report on such allocations may buy securities for the Portfolio at the request same time it is selling such securities for another client account and may sell securities for the Portfolio at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Trust as may be in effect from time to time, the Subadviser may effectuate cross transactions between the Portfolio and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Portfolio and/or brokers and dealers through or with which portfolio transactions on behalf of the Portfolio may not be effected, including, without limitation, brokers or dealers affiliated with the Investment Adviser, . The Subadviser shall refrain from purchasing such securities for the Fund Portfolio or the Trusts Board of Trustees, providing directing any portfolio transaction to any such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis broker or dealer on behalf of the allocation for Portfolio, unless and until the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction written approval of the Investment Adviser or the TrustBoard of Trustees, as the case may be, is so obtained. In addition, the Subadviser may also consider sales agrees that it shall not direct portfolio transactions for the Portfolio with or through the Subadviser or any broker or dealer that is an ‘affiliated person’ of Fund shares the Subadviser (as a factor defined in the selection 1940 Act or interpreted under applicable rules and regulations of brokers or dealers for a Funds portfolio transactionsthe Securities and Exchange Commission) without the prior written approval of the Board of Trustees and the Investment Adviser and then only as permitted under the 1940 Act. In connection with purchases or sales of portfolio securities for the account of the FundPortfolio, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundPortfolio, except as permitted by applicable law and with the express written consent of the Trust Board of Trustees and the Investment Adviser. The Subadviser will advise the Funds Portfolio’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 4 contracts
Samples: Investment Sub Advisory Agreement (Scudder Equity 500 Index Portfolio), Investment Sub Advisory Agreement (DWS Equity 500 Index Portfolio), Investment Sub Advisory Agreement (Scudder Advisor Funds Ii)
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund Portfolio with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund Portfolio the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors it deems relevant, including, without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund Portfolio that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund Portfolio than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund Portfolio with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Portfolio and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Portfolio. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund Portfolio as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Portfolio and to such other clients. The Subadviser will report on such allocations may buy securities for the Portfolio at the request same time it is selling such securities for another client account and may sell securities for the Portfolio at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Trust as may be in effect from time to time, the Subadviser may effectuate cross transactions between the Portfolio and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Portfolio and/or brokers and dealers through or with which portfolio transactions on behalf of the Portfolio may not be effected, including, without limitation, brokers or dealers affiliated with the Investment Adviser, . The Subadviser shall refrain from purchasing such securities for the Fund Portfolio or the Trusts Board of Trustees, providing directing any portfolio transaction to any such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis broker or dealer on behalf of the allocation for Portfolio, unless and until the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction written approval of the Investment Adviser or the TrustBoard of Trustees, as the case may be, is so obtained. In addition, the Subadviser may also consider sales agrees that it shall not direct portfolio transactions for the Portfolio with or through the Subadviser or any broker or dealer that is an `affiliated person' of Fund shares the Subadviser (as a factor defined in the selection 1940 Act or interpreted under applicable rules and regulations of brokers or dealers for a Funds portfolio transactionsthe Securities and Exchange Commission) without the prior written approval of the Board of Trustees and the Investment Adviser and then only as permitted under the 1940 Act. In connection with purchases or sales of portfolio securities for the account of the FundPortfolio, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundPortfolio, except as permitted by applicable law and with the express written consent of the Trust Board of Trustees and the Investment Adviser. The Subadviser will advise the Funds Portfolio's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 4 contracts
Samples: Sub Advisory Agreement (Scudder Advisor Funds Iii), Sub Advisory Agreement (Scudder Investment Portfolios), Investment Sub (Equity 500 Index Portfolio)
Brokerage Transactions. Subject to the provisions of this Section 5 ---------------------- and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the each Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the a Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds Fund's portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 3 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of a Portfolio, neither the Adviser, nor any of its partners, directors, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the a Portfolio’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for a Portfolio. It is also understood, however, understood that it is desirable for the Fund a Portfolio that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund Portfolio than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Trust’s Board of Trustees may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund as well as other clients of minimum commission rates available, if the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trustsub-adviser, as applicable, determines in good faith that such amount of commission is reasonable in relation to the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account value of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal brokerage or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities research services provided by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting such broker or dealer, viewed in terms of either that particular transaction or the Adviser’s or the sub-adviser’s overall responsibilities with respect to a Portfolio and such other information as advisory clients. The Adviser’s services to a Portfolio pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Adviser may be reasonably requiredrender investment advice, management and other services to others.
Appears in 3 contracts
Samples: Investment Management Agreement (Hartford Funds Master Fund), Investment Management Agreement (Hartford Funds NextShares Trust), Investment Management Agreement (Hartford Funds Exchange-Traded Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times F-5.times to seek for the Fund the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors its deems relevant, including without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Fund and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Fund. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations may buy securities for the Fund at the request same time it is selling such securities for another client account and may sell securities for the Fund at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information Trust as the number of aggregated trades may be in effect from time to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trusttime, the Subadviser may also consider sales effectuate cross transactions between the Fund and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Fund shares as a factor in and/or brokers and dealers through or with which portfolio transactions on behalf of the selection of Fund may not be effected, including, without limitation, brokers or dealers for a Funds portfolio transactions. In connection affiliated with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.the
Appears in 3 contracts
Samples: Investment Sub Advisory Agreement (Value Equity Trust), Sub Advisory Agreement (Scudder Investors Trust), Sub Advisory Agreement (Scudder Variable Series Ii)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Subadviser shall use its best efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 3 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust), Advisory Agreement for Subadviser (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants, and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understoodIn selecting brokers or dealers and placing trades with them, howeverthe Subadviser, that bearing in mind the Fund’s best interests at all times, shall consider all factors it is desirable deems relevant, including by way of illustration: price; the size of the transaction; the nature of the market for the security; the amount of the commission; the timing of the transaction taking into account market prices and trends; the reputation, experience and financial stability of the broker or dealer involved; and the quality of service rendered by the broker or dealer in other transactions. The Subadviser shall not be deemed to have acted unlawfully or to have breached any duty created by this Agreement or otherwise solely by reason of its having caused the Fund to pay a broker or dealer that provides brokerage and research services to the Subadviser an amount of commission for effecting a portfolio investment transaction in excess of the amount of commission another broker or dealer would have access charged for effecting that transaction, if the Subadviser determines in good faith that such amount of commission was reasonable in relation to supplemental investment the value of the brokerage and market research and security and economic analyses services provided by certain brokers who may execute brokerage transactions at higher commissions to such broker or dealer, viewed in terms of either that particular transaction or the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time Subadviser’s over-all responsibilities with respect to the extent Fund and continuation to other clients of this practicethe Subadviser as to which the Subadviser exercises investment discretion. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. The authority granted to the Subadviser hereunder shall include, but not be limited to, the power to enter into and execute swap, futures, options and other agreements, including related collateral agreements, with counterparties, and to open and close accounts in connection therewith, on the Fund’s behalf as the Subadviser deems appropriate from time to time in order to carry out the Subadviser's responsibilities hereunder. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and directed, the basis of the allocation for the aggregated trades, and such other information as is reasonably requested. Subject The Investment Adviser hereby acknowledges that such aggregation orders may not result in more favorable pricing or lower brokerage commissions to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactionsall instances. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis advise the Fund’s custodian and, upon request, the Investment Adviser, of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 3 contracts
Samples: Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and the Trading Annex as agreed between the Investment Adviser and the Sub-adviser, and absent instructions to the contrary from the Investment Adviser or the Trust, the Subadviser Sub-adviser will have full discretionary authority to place orders for the purchase and sale of securities and investments for the account of the Fund Funds with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Funds, the Sub-adviser shall seek to obtain for the Funds the most favorable price and execution available, considering all factors the Sub-adviser deems relevant, including the receipt of research or execution services. In compliance with Section 28(e) of the U.S. Securities Exchange Act of 1934, as amended, the Sub-adviser may cause the Fund to pay a commission for effecting a transaction for the Fund with such certain brokers, subject in excess of the amount another broker or dealer would have charged for effecting that transaction. This may be done where the Sub-adviser has determined in good faith that the commission is reasonable in relation to applicable laws and regulations and review the value of the services provided by the Investment Adviser and the Trusts Board of Trustees from time to time with respect broker-dealer to the extent and continuation of this practiceSub-adviser. It is understood that the services provided by such brokers may be useful to the Subadviser Sub-adviser in connection with its services to other clients. On occasions when the Subadviser Sub-adviser deems the purchase or sale of a security or investment to be in the best interests of the Fund Funds as well as other clients of the SubadviserSub-adviser, the SubadviserSub-adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate or bunch the securities to be sold or purchased in order and/or execute single or bunched orders as “block” transactions, and where applicable, to obtain the most favorable price allocate such bunched or lower brokerage commissions and efficient block orders among accounts following execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser Sub-adviser in the manner the Subadviser Sub-adviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser hereby acknowledges that aggregated or the Trust, the Subadviser “block” transactions may also consider sales of Fund shares as a factor in the selection of brokers be subject to different trading or dealers for a Funds portfolio regulatory treatment than those applicable to “non-block” transactions. In connection with purchases or sales of portfolio securities for the account of the FundFunds, neither the Subadviser Sub-adviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundFunds, except as permitted by applicable law and with law. The Sub-adviser will advise the express written consent of the Trust Funds’ custodian and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis , as applicable, as soon as reasonably practicable of each purchase and sale of a portfolio securitysecurity on behalf of the Fund in such format as agreed between the Investment Adviser and Sub-adviser, specifying the name of the issuer, the description and amount or number of shares of the security to be purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 3 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject The Sub-Adviser will select broker-dealers to execute transactions for the provisions Fund and will monitor the execution capabilities of this Section 5 and absent instructions from the Investment such broker-dealers. The Sub-Adviser or the Trust, the Subadviser will have full discretionary authority seek to place achieve best execution of orders for the purchase and sale Funds by selecting brokers that are able to provide "best execution" of securities orders for the account of the Fund with such brokers or dealers as it may selectFunds. In the selection of such brokers or dealers "Best execution" shall mean prompt and the placing of such orders, the Subadviser is directed reliable execution at all times to seek for the Fund the most favorable execution and net price availablesecurities price, taking into account the other provisions hereinafter set forth. It is also understoodWhenever the Sub-Adviser places orders, howeveror directs the placement of orders, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of portfolio securities on behalf of each Fund, in selecting brokers or dealers to execute such orders, the Sub-Adviser is expressly authorized to consider the fact that a security to be broker or dealer has furnished statistical, research or other information or services that may enhance the Sub-Adviser's research and portfolio management capability generally. It is further understood in the best interests accordance with Section 28(e) of the Fund as well as other clients Securities Exchange Act of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased1934, as well as amended ("1934 Act"), that the expenses incurred in Sub-Adviser may use a broker whose commissions on transactions may exceed the commissions that another broker would have charged for effecting the transaction, will be made by provided that the Subadviser Sub-Adviser determines in good faith that the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations amount of commission charged was reasonable in relation to the Fund and value of brokerage and/or research services (as defined in Section 28(e)) provided by such broker viewed in terms the Sub-Adviser's responsibilities to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the each Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject Sub-Advisers overall responsibilities to the foregoing provisions of this Section 5 and at its discretionary accounts. Neither the direction of the Investment Sub-Adviser nor any parent, subsidiary or the Trust, the Subadviser may also consider sales of Fund shares related firm shall act as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection securities broker with respect to any purchases or sales of portfolio securities for the account that may be made on behalf of the each Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation unless such transactions are in connection compliance with the purchase or sale of investment securities 1940 Act and any other applicable rules and regulations. Unless otherwise directed by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuerin writing, the description Sub-Adviser may utilize the service of whatever securities brokerage firm or firms it deems appropriate to the extent that such firms are competitive with respect to price of services and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredexecution.
Appears in 3 contracts
Samples: Sub Advisory Agreement (E Trade Funds), Investment Sub Advisory Agreement (E Trade Funds), E Trade Funds
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of a Portfolio, neither the Adviser, nor any of its partners, directors, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the a Portfolio’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for a Portfolio. It is also understood, however, understood that it is desirable for the Fund a Portfolio that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund Portfolio than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Company’s Board of Directors may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund as well as other clients of minimum commission rates available, if the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trustsub-adviser, as applicable, determines in good faith that such amount of commission is reasonable in relation to the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account value of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal brokerage or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities research services provided by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting such broker or dealer, viewed in terms of either that particular transaction or the Adviser’s or the sub-adviser’s overall responsibilities with respect to a Portfolio and such other information as advisory clients. The Adviser’s services to a Portfolio pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Adviser may be reasonably requiredrender investment advice, management and other services to others.
Appears in 3 contracts
Samples: Investment Management Agreement (Hartford Mutual Funds Inc/Ct), Investment Management Agreement (Hartford Mutual Funds Inc/Ct), Form of Investment Management Agreement (Hartford Mutual Funds Ii Inc)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds the Fund’s portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Subadviser shall use its best efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. The Subadviser shall not be liable for any act or omission of any brokerage firm or firms or counterparties designated by the Investment Adviser or chosen by the Subadviser with reasonable care. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient executionexecution and to elect, where appropriate, any beneficial regulatory treatment, including real time reporting delays. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times will act in accordance with its duty to seek for the Fund the most favorable execution and net obtain best execution, taking into account best price availableas an important factor in its decisions. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable over time and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust), Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times will act in accordance with its duty to seek for the Fund the most favorable execution and net obtain best execution, taking into account best price availableas an important factor in its decisions. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable over time and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds Fund's portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors it deems relevant, including, without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Fund and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Fund. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations may buy securities for the Fund at the request same time it is selling such securities for another client account and may sell securities for the Fund at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Trust as may be in effect from time to time, the Subadviser may effectuate cross transactions between the Fund and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Fund and/or brokers and dealers through or with which portfolio transactions on behalf of the Fund may not be effected, including, without limitation, brokers or dealers affiliated with the Investment Adviser, . The Subadviser shall refrain from purchasing such securities for the Fund or the Trusts Board of Trustees, providing directing any portfolio transaction to any such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis broker or dealer on behalf of the allocation for Fund, unless and until the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction written approval of the Investment Adviser or the TrustBoard of Trustees, as the case may be, is so obtained. In addition, the Subadviser may also consider sales agrees that it shall not direct portfolio transactions for the Fund with or through the Subadviser or any broker or dealer that is an `affiliated person' of Fund shares the Subadviser (as a factor defined in the selection 1940 Act or interpreted under applicable rules and regulations of brokers or dealers for a Funds portfolio transactionsthe Securities and Exchange Commission) without the prior written approval of the Board of Trustees and the Investment Adviser and then only as permitted under the 1940 Act. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust Board of Trustees and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Sub (Scudder Advisor Funds Iii), Investment Sub (Scudder Advisor Funds)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Adviser shall use its best efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment The Sub-Adviser or the Trust, the Subadviser will have full discretionary authority to may place orders for the purchase and of sale of portfolio securities for the account Value Fund directly with the issuers of the securities or with any broker or dealer. The Sub-Adviser may open and maintain brokerage accounts of all types on behalf of and in the name of the Value Fund. The Sub-Adviser will select broker-dealers to execute transactions for the Value Fund with such brokers or dealers as it may select. In and will monitor the selection execution capabilities of such brokers or dealers and the placing broker-dealers. The Sub-Adviser will seek to achieve best execution of such orders, the Subadviser is directed at all times to seek orders for the Value Fund by selecting brokers that are able to provide "best execution" of orders for the Value Fund. "Best execution" shall mean prompt and reliable execution at the most favorable execution and net price availablesecurities price, taking into account the other provisions hereinafter set forth. It is also understoodWhenever the Sub-Adviser places orders, howeveror directs the placement of orders, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests portfolio securities on behalf of the Fund as well as Value Fund, in selecting brokers or dealers to execute such orders, the Sub-Adviser is expressly authorized to consider the fact that a broker or dealer has furnished statistical, research or other clients information or services that may enhance the Sub-Adviser's research and portfolio management capability generally. It is further understood in accordance with Section 28(e) of the SubadviserSecurities Exchange Act of 1934, as amended ("1934 Act"), that the SubadviserSub-Adviser may use a broker whose commissions on transactions may exceed the commissions that another broker would have charged for effecting the transaction, provided that the Sub-Adviser determines in good faith that the amount of commission charged was reasonable in relation to the extent permitted value of brokerage and/or research services (as defined in Section 28(e)) provided by such broker viewed in terms the Sub-Adviser's responsibilities to the Value Fund or the Sub-Advisers overall responsibilities to the its discretionary accounts. In accordance with Section 11(a) of the 1934 Act and Rule 11a2-2(T) thereunder and subject to any other applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities Sub-Adviser and its affiliates are authorized to be sold or purchased in order to obtain effect portfolio transactions for the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Value Fund and to such other clients. The Subadviser will report retain brokerage commissions on such allocations at transactions. Neither the request of the Investment AdviserSub-Adviser nor any parent, the Fund subsidiary or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares related firm shall act as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection securities broker with respect to any purchases or sales of portfolio securities for the account that may be made on behalf of the Value Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation unless such transactions are in connection compliance with the purchase or sale of investment securities 1940 Act and any other applicable rules and regulations. Unless otherwise directed by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuerin writing, the description Sub-Adviser may utilize the service of whatever securities brokerage firm or firms it deems appropriate to the extent that such firms are competitive with respect to price of services and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredexecution.
Appears in 2 contracts
Samples: Investment Sub Advisory Agreement (E Trade Funds), E Trade Funds
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors it deems relevant, including, without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Fund and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Fund. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations may buy securities for the Fund at the request same time it is selling such securities for another client account and may sell securities for the Fund at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Trust as may be in effect from time to time, the Subadviser may effectuate cross transactions between the Fund and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Fund and/or brokers and dealers through or with which portfolio transactions on behalf of the Fund may not be effected, including, without limitation, brokers or dealers affiliated with the Investment Adviser, . The Subadviser shall refrain from purchasing such securities for the Fund or the Trusts Board of Trustees, providing directing any portfolio transaction to any such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis broker or dealer on behalf of the allocation for Fund, unless and until the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction written approval of the Investment Adviser or the TrustBoard of Trustees, as the case may be, is so obtained. In addition, the Subadviser may also consider sales agrees that it shall not direct portfolio transactions for the Fund with or through the Subadviser or any broker or dealer that is an ‘affiliated person’ of Fund shares the Subadviser (as a factor defined in the selection 1940 Act or interpreted under applicable rules and regulations of brokers or dealers for a Funds portfolio transactionsthe Securities and Exchange Commission) without the prior written approval of the Board of Trustees and the Investment Adviser and then only as permitted under the 1940 Act. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust Board of Trustees and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Sub Advisory Agreement (DWS Investments Vit Funds), Investment Sub Advisory Agreement (DWS Institutional Funds)
Brokerage Transactions. Subject to the provisions of Section 1 and this Section 5 and absent instructions from the Investment Adviser or the Trustof this Agreement, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund best overall terms available. In assessing the most favorable best overall terms available for any transaction, the Subadviser shall consider all factors it deems relevant, including the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, and net price availablethe reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to Section 28(e) of the Securities and Exchange Act of 1934, as amended, and any other applicable laws and regulations and to review and oversight by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practiceTrustees. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient executionpurchased. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust), Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject The Sub-Adviser will select broker-dealers to execute transactions for the provisions Fund and will monitor the execution capabilities of this Section 5 and absent instructions from the Investment such broker-dealers. The Sub-Adviser or the Trust, the Subadviser will have full discretionary authority seek to place achieve best execution of orders for the purchase and sale Funds by selecting brokers that are able to provide "best execution" of securities orders for the account of the Fund with such brokers or dealers as it may selectFunds. In the selection of such brokers or dealers "Best execution" shall mean prompt and the placing of such orders, the Subadviser is directed reliable execution at all times to seek for the Fund the most favorable execution and net price availablesecurities price, taking into account the other provisions hereinafter set forth. It is also understoodWhenever the Sub-Adviser places orders, howeveror directs the placement of orders, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of portfolio securities on behalf of each Fund, in selecting brokers or dealers to execute such orders, the Sub-Adviser is expressly authorized to consider the fact that a security to be broker or dealer has furnished statistical, research or other information or services that may enhance the Sub-Adviser's research and portfolio management capability generally. It is further understood in the best interests accordance with Section 28(e) of the Fund as well as other clients Securities Exchange Act of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased1934, as well as amended ("1934 Act"), that the expenses incurred in Sub-Adviser may use a broker whose commissions on transactions may exceed the commissions that another broker would have charged for effecting the transaction, will be made by provided that the Subadviser Sub-Adviser determines in good faith that the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations amount of commission charged was reasonable in relation to the Fund and value of brokerage and/or research services (as defined in Section 28(e)) provided by such broker viewed in terms the Sub-Adviser's responsibilities to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the each Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject Sub-Advisers overall responsibilities to the foregoing provisions of this Section 5 and at its discretionary accounts. Neither the direction of the Investment Sub-Adviser nor any parent, subsidiary or the Trust, the Subadviser may also consider sales of Fund shares related firm shall act as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection securities broker with respect to any purchases or sales of portfolio securities for the account that may be made on behalf of the each Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation unless such transactions are in connection compliance with the purchase or sale of investment securities 1940 Act and any other applicable rules and regulations. Unless otherwise directed by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuerin writing, the description Sub-Adviser may utilize the service of whatever securities brokerage firm or firms it deems appropriate to the extent that such firms are competitive with respect to price of services and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredexecution. 5.
Appears in 2 contracts
Samples: Investment Sub Advisory Agreement (E Trade Funds), Sub Advisory Agreement (E Trade Funds)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Adviser shall use its best efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement for Subadviser (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment The Sub-Adviser or the Trust, the Subadviser will have full discretionary authority to may place orders for the purchase and of sale of portfolio securities for the account Growth Fund directly with the issuers of the securities or with any broker or dealer. The Sub-Adviser may open and maintain brokerage accounts of all types on behalf of and in the name of the Growth Fund. The Sub-Adviser will select broker-dealers to execute transactions for the Growth Fund with such brokers or dealers as it may select. In and will monitor the selection execution capabilities of such brokers or dealers and the placing broker-dealers. The Sub-Adviser will seek to achieve best execution of such orders, the Subadviser is directed at all times to seek orders for the Growth Fund by selecting brokers that are able to provide "best execution" of orders for the Growth Fund. "Best execution" shall mean prompt and reliable execution at the most favorable execution and net price availablesecurities price, taking into account the other provisions hereinafter set forth. It is also understoodWhenever the Sub-Adviser places orders, howeveror directs the placement of orders, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests portfolio securities on behalf of the Fund as well as Growth Fund, in selecting brokers or dealers to execute such orders, the Sub-Adviser is expressly authorized to consider the fact that a broker or dealer has furnished statistical, research or other clients information or services that may enhance the Sub-Adviser's research and portfolio management capability generally. It is further understood in accordance with Section 28(e) of the SubadviserSecurities Exchange Act of 1934, as amended ("1934 Act"), that the SubadviserSub-Adviser may use a broker whose commissions on transactions may exceed the commissions that another broker would have charged for effecting the transaction, provided that the Sub-Adviser determines in good faith that the amount of commission charged was reasonable in relation to the extent permitted value of brokerage and/or research services (as defined in Section 28(e)) provided by such broker viewed in terms the Sub-Adviser's responsibilities to the Growth Fund or the Sub-Advisers overall responsibilities to the its discretionary accounts. In accordance with Section 11(a) of the 1934 Act and Rule 11a2-2(T) thereunder and subject to any other applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities Sub-Adviser and its affiliates are authorized to be sold or purchased in order to obtain effect portfolio transactions for the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Growth Fund and to such other clients. The Subadviser will report retain brokerage commissions on such allocations at transactions. Neither the request of the Investment AdviserSub-Adviser nor any parent, the Fund subsidiary or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares related firm shall act as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection securities broker with respect to any purchases or sales of portfolio securities for the account that may be made on behalf of the Growth Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation unless such transactions are in connection compliance with the purchase or sale of investment securities 1940 Act and any other applicable rules and regulations. Unless otherwise directed by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuerin writing, the description Sub-Adviser may utilize the service of whatever securities brokerage firm or firms it deems appropriate to the extent that such firms are competitive with respect to price of services and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredexecution.
Appears in 2 contracts
Samples: Investment Sub Advisory Agreement (E Trade Funds), E Trade Funds
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the each Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund with such certain brokersFunds, subject the Subadviser shall use commercially reasonable efforts to applicable laws obtain for the Funds the most favorable price and regulations and review by execution available, considering all factors the Investment Adviser and Subadviser deems relevant, including, among other things, the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security or other investment to be in the best interests of the Fund Funds as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or other investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities or other investments so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund Funds or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was Funds were a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the FundFunds, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundFunds, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Funds’ custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuersecurity name, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required. The Sub-Adviser has been granted full power and authority to enter into contracts and to open accounts and execute documents as agent on the Investment Adviser’s and Funds’ behalf (including, without limitation trading documentation and related ancillary documents such as representation letters, “give-up” agreements for futures contract, etc.) and to give instructions for settlement for the same
Appears in 2 contracts
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust), Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund Portfolio with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund Portfolio the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors it deems relevant, including, without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund Portfolio that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund Portfolio than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund Portfolio with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Portfolio and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Portfolio. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund Portfolio as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Portfolio and to such other clients. The Subadviser will report on such allocations may buy securities for the Portfolio at the request same time it is selling such securities for another client account and may sell securities for the Portfolio at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Trust as may be in effect from time to time, the Subadviser may effectuate cross transactions between the Portfolio and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Portfolio and/or brokers and dealers through or with which portfolio transactions on behalf of the Portfolio may not be effected, including, without limitation, brokers or dealers affiliated with the Investment Adviser, . The Subadviser shall refrain from purchasing such securities for the Fund Portfolio or the Trusts Board of Trustees, providing directing any portfolio transaction to any such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis broker or dealer on behalf of the allocation for Portfolio, unless and until the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction written approval of the Investment Adviser or the TrustBoard of Trustees, as the case may be, is so obtained. In addition, the Subadviser may also consider sales agrees that it shall not direct portfolio transactions for the Portfolio with or through the Subadviser or any broker or dealer that is an 'affiliated person' of Fund shares the Subadviser (as a factor defined in the selection 1940 Act or interpreted under applicable rules and regulations of brokers or dealers for a Funds portfolio transactionsthe Securities and Exchange Commission) without the prior written approval of the Board of Trustees and the Investment Adviser and then only as permitted under the 1940 Act. In connection with purchases or sales of portfolio securities for the account of the FundPortfolio, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundPortfolio, except as permitted by applicable law and with the express written consent of the Trust Board of Trustees and the Investment Adviser. The Subadviser will advise the Funds Portfolio's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Subadviser shall use commercially reasonable efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including, among other things, the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security or other investment to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or other investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities or other investments so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuersecurity name, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required. The Sub-Adviser has been granted full power and authority to enter into contracts and to open accounts and execute documents as agent on the Investment Adviser’s and Funds’ behalf (including, without limitation trading documentation and related ancillary documents such as representation letters, “give-up” agreements for futures contract, etc.) and to give instructions for settlement for the same
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund with such certain brokersFunds, subject the Subadviser shall use commercially reasonable efforts to applicable laws obtain for the Funds the most favorable price and regulations and review by execution available, considering all factors the Investment Adviser and Subadviser deems relevant, including, among other things, the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security or other investment to be in the best interests of the Fund Funds as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or other investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities or other investments so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund Funds or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was Funds were a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the FundFunds, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundFunds, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Funds’ custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuersecurity name, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required. The Sub-Adviser has been granted full power and authority to enter into contracts and to open accounts and execute documents as agent on the Investment Adviser’s and Funds’ behalf (including, without limitation trading documentation and related ancillary documents such as representation letters, “give-up” agreements for futures contract, etc.) and to give instructions for settlement for the same
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of a Portfolio, neither the Adviser, nor any of its partners, directors, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the a Portfolio’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to Adviser or a sub-adviser, as applicable, will seek best execution for the Fund the most favorable execution and net price availablea Portfolio. It is also understood, however, understood that it is desirable for the Fund a Portfolio that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund Portfolio than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Company’s Board of Directors may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund as well as other clients of minimum commission rates available, if the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trustsub-adviser, as applicable, determines in good faith that such amount of commission is reasonable in relation to the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account value of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal brokerage or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities research services provided by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting such broker or dealer, viewed in terms of either that particular transaction or the Adviser’s or the sub-adviser’s overall responsibilities with respect to a Portfolio and such other information as advisory clients. The Adviser’s services to a Portfolio pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Adviser may be reasonably requiredrender investment advice, management and other services to others.
Appears in 1 contract
Samples: Investment Management Agreement (Hartford Mutual Funds Ii Inc)
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of the Fund, neither the Adviser, nor any of its partners, trustees, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the Fund’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for the Fund. It is also understood, however, understood that it is desirable for the Fund that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Fund’s Board of Trustees may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund minimum commission rates available, if the Adviser or the sub-adviser, as well as other clients applicable, determines in good faith that such amount of commission is reasonable in relation to the value of the Subadviserbrokerage or research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Subadviser, to Adviser’s or the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent sub-adviser’s overall responsibilities with its fiduciary obligations respect to the Fund and to such other advisory clients. The Subadviser will report on such allocations at the request of the Investment Adviser, ’s services to the Fund or pursuant to this Agreement are not deemed to be exclusive and it is understood that the Trusts Board of TrusteesAdviser may render investment advice, providing such information as the number of aggregated trades management and other services to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredothers.
Appears in 1 contract
Samples: Investment Management Agreement (Hartford Schroders Private Opportunities Fund)
Brokerage Transactions. Subject The Adviser may select brokers and dealers who offer brokerage and research services. These services may be furnished directly to the provisions Fund or to the Adviser and may include: advice as to the advisability of this Section 5 investing in securities; security analysis and absent instructions from reports; economic studies; industry studies; receipt of quotations for portfolio evaluations; and similar services. Research services provided by brokers and dealers may be used by the Investment Adviser or its affiliates in advising the TrustFund and other accounts. To the extent that receipt of these services may supplant services for which the Adviser or its affiliates might otherwise have paid, it would tend to reduce their expenses. The Adviser and its affiliates exercise reasonable business judgment in selecting brokers who offer brokerage and research services to execute securities transactions. They determine in good faith that commissions charged by such persons are reasonable in relationship to the value of the brokerage and research services provided. For the period from February 28, 1996 (date of initial public investment) to November 30, 1996, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may selectpaid $26,393 in brokerage commissions. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek Although investment decisions for the Fund are made independently from those of the most favorable execution other accounts managed by the Adviser, investments of the type the Fund may make may also be made by those other accounts. When the Fund and net one or more other accounts managed by the Adviser are prepared to invest in, or desire to dispose of, the same security, available investments or opportunities for sales will be allocated in a manner believed by the Adviser to be equitable to each. In some cases, this procedure may adversely affect the price availablepaid or received by the Fund or the size of the position obtained or disposed of by the Fund. It is also understoodIn other cases, however, that it is desirable believed that coordination and the ability to participate in volume transactions will be to the benefit of the Fund. The Adviser may engage in other non-U.S. transactions that may have adverse effects on the market for securities in the Fund that the Subadviser have access Fund's portfolio. The Adviser is not obligated to supplemental investment obtain any material non-public (`inside'') information about any securities issuer, or to base purchase or sale recommendations on such information. OTHER SERVICES FUND ADMINISTRATION Federated Services Company, a subsidiary of Federated Investors, provides administrative personnel and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions services to the Fund than for a fee as described in each prospectus. From January 31, 1996 to March 1, 1996, Federated Administrative Services, also a subsidiary of Federated Investors, served as the Fund's Administrator. For purposes of this Statement of Additional Information, Federated Services Company and Federated Administrative Services may result when allocating brokerage hereinafter collectively be referred to other brokers solely on as the basis `Administrators.'' For the period from February 28, 1996 (date of seeking the most favorable price and efficient execution. Thereforeinitial public investment) to November 30, 1996, the Subadviser Administrators earned $140,012. CUSTODIAN AND PORTFOLIO ACCOUNTANT State Street Bank and Trust Company, Boston, MA, is authorized to place orders custodian for the purchase securities and sale cash of securities for the Fund. Foreign instruments purchased by the Fund with such are held by foreign banks participating in a network coordinated by State Street Bank. Federated Services Company, Pittsburgh, PA, provides certain brokers, subject to applicable laws accounting and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time recordkeeping services with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clientsFund's portfolio investments. The Subadviser will report on such allocations at fee paid for this service is based upon the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account level of the Fund's average net assets for the period plus out-of-pocket expenses. TRANSFER AGENT Federated Services Company, neither through its registered transfer agent, Federated Shareholder Services Company, maintains all necessary shareholder records. For its services, the Subadviser nor any transfer agent receives a fee based upon the size, type, and number of its affiliated personsaccounts and transactions made by shareholders. INDEPENDENT AUDITORS The independent auditors for the Fund are Ernst & Young LLP, will act as Xxx Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxxxx 00000. PURCHASING SHARES Except under certain circumstances described in each prospectus, Shares are sold at their net asset value (plus a principal or agent or receive directly or indirectly any compensation in connection with sales charge on Class A Shares only) on days the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment AdviserNew York Stock Exchange is open for business. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of procedure for purchasing Shares is explained in each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredprospectus under "How To Purchase Shares."
Appears in 1 contract
Samples: World Investment Series Inc
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of the Fund, neither the Adviser, nor any of its partners, trustees, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the Fund’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for the Fund. It is also understood, however, understood that it is desirable for the Fund that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Fund’s Board of Trustees may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund minimum commission rates available, if the Adviser or the sub-adviser, as well as other clients applicable, determines in good faith that such amount of commission is reasonable in relation to the value of the Subadviserbrokerage or research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Subadviser, to Adviser’s or the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent sub-adviser’s overall responsibilities with its fiduciary obligations respect to the Fund and to such other advisory clients. The Subadviser will report on such allocations at the request of the Investment Adviser, ’s services to the Fund or pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Trusts Board of TrusteesAdviser may render investment advice, providing such information as the number of aggregated trades management and other services to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredothers.
Appears in 1 contract
Samples: Investment Management Agreement (Hartford Schroders Opportunistic Income Fund)
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of the Fund, neither the Adviser, nor any of its partners, trustees, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the Fund’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for the Fund. It is also understood, however, understood that it is desirable for the Fund that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its the Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Fund’s Board of Trustees may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund minimum commission rates available, if the Adviser or the sub-adviser, as well as other clients applicable, determines in good faith that such amount of commission is reasonable in relation to the value of the Subadviserbrokerage or research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Subadviser, to Adviser’s or the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent sub-adviser’s overall responsibilities with its fiduciary obligations respect to the Fund and to such other advisory clients. The Subadviser will report on such allocations at the request of the Investment Adviser, ’s services to the Fund or pursuant to this Agreement are not deemed to be exclusive and it is understood that the Trusts Board of TrusteesAdviser may render investment advice, providing such information as the number of aggregated trades management and other services to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredothers.
Appears in 1 contract
Samples: Investment Management Agreement (Hartford Schroders Private Opportunities Fund)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Subadviser shall use commercially reasonable efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including, among other things, the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security or other investment to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or other investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities or other investments so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuersecurity name, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required. The Sub-Adviser has been granted full power and authority to enter into contracts and to open accounts and execute documents as agent on the Adviser’s and Series’ behalf (including, without limitation trading documentation and related ancillary documents such as representation letters, “give-up” agreements for futures contract, etc.) and to give instructions for settlement for the same
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants, and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understoodIn selecting brokers or dealers and placing trades with them, howeverthe Subadviser, that bearing in mind the Fund’s best interests at all times, shall consider all factors it is desirable deems relevant, including by way of illustration: price; the size of the transaction; the nature of the market for the security; the amount of the commission; the timing of the transaction taking into account market prices and trends; the reputation, experience and financial stability of the broker or dealer involved; and the quality of service rendered by the broker or dealer in other transactions. The Subadviser shall not be deemed to have acted unlawfully or to have breached any duty created by this Agreement or otherwise solely by reason of its having caused the Fund to pay a broker or dealer that provides brokerage and research services to the Subadviser an amount of commission for effecting a portfolio investment transaction in excess of the amount of commission another broker or dealer would have access charged for effecting that transaction, if the Subadviser determines in good faith that such amount of commission was reasonable in relation to supplemental investment the value of the brokerage and market research and security and economic analyses services provided by certain brokers who may execute brokerage transactions at higher commissions to such broker or dealer, viewed in terms of either that particular transaction or the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time Subadviser’s over-all responsibilities with respect to the extent Fund and continuation to other clients of this practicethe Subadviser as to which the Subadviser exercises investment discretion. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and directed, the basis of the allocation for the aggregated trades, and such other information as is reasonably requested. Subject The Investment Adviser hereby acknowledges that such aggregation orders may not result in more favorable pricing or lower brokerage commissions to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactionsall instances. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis advise the Fund’s custodian and, upon request, the Investment Adviser, of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity identify of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject The Sub-Adviser will select broker-dealers to execute transactions for the provisions Fund and will monitor the execution capabilities of this Section 5 and absent instructions from the Investment such broker-dealers. The Sub-Adviser or the Trust, the Subadviser will have full discretionary authority seek to place achieve best execution of orders for the purchase and sale Funds by selecting brokers that are able to provide “best execution” of securities orders for the account of the Fund with such brokers or dealers as it may selectFunds. In the selection of such brokers or dealers “Best execution” shall mean prompt and the placing of such orders, the Subadviser is directed reliable execution at all times to seek for the Fund the most favorable execution and net price availablesecurities price, taking into account the other provisions hereinafter set forth. It is also understoodWhenever the Sub-Adviser places orders, howeveror directs the placement of orders, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of portfolio securities on behalf of each Fund, in selecting brokers or dealers to execute such orders, the Sub-Adviser is expressly authorized to consider the fact that a security to be broker or dealer has furnished statistical, research or other information or services that may enhance the Sub-Adviser’s research and portfolio management capability generally. It is further understood in the best interests accordance with Section 28(e) of the Fund as well as other clients Securities Exchange Act of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased1934, as well as amended (“1934 Act”), that the expenses incurred in Sub-Adviser may use a broker whose commissions on transactions may exceed the commissions that another broker would have charged for effecting the transaction, will be made by provided that the Subadviser Sub-Adviser determines in good faith that the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations amount of commission charged was reasonable in relation to the Fund and value of brokerage and/or research services (as defined in Section 28(e)) provided by such broker viewed in terms the Sub-Adviser’s responsibilities to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the each Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject Sub-Advisers overall responsibilities to the foregoing provisions of this Section 5 and at its discretionary accounts. Neither the direction of the Investment Sub-Adviser nor any parent, subsidiary or the Trust, the Subadviser may also consider sales of Fund shares related firm shall act as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection securities broker with respect to any purchases or sales of portfolio securities for the account that may be made on behalf of the each Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation unless such transactions are in connection compliance with the purchase or sale of investment securities 1940 Act and any other applicable rules and regulations. Unless otherwise directed by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuerin writing, the description Sub-Adviser may utilize the service of whatever securities brokerage firm or firms it deems appropriate to the extent that such firms are competitive with respect to price of services and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredexecution.
Appears in 1 contract
Brokerage Transactions. Subject to the provisions of this Section 5 and ---------------------- absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the each Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the a Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds Fund's portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Investment Advisory Agreement (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund Funds with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund with such certain brokersFunds, subject the Subadviser shall use commercially reasonable efforts to applicable laws obtain for the Funds the most favorable price and regulations and review by execution available, considering all factors the Investment Adviser and Subadviser deems relevant, including, among other things, the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security or other investment to be in the best interests of the Fund Funds as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or other investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities or other investments so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund Funds or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was Funds were a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the FundFunds, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundFunds, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Funds’ custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuersecurity name, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required. The Sub-Adviser has been granted full power and authority to enter into contracts and to open accounts and execute documents as agent on the Investment Adviser’s and Funds’ behalf (including, without limitation trading documentation and related ancillary documents such as representation letters, “give-up” agreements for futures contract, etc.) and to give instructions for settlement for the same
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of a Portfolio, neither the Adviser, nor any of its partners, directors, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the a Portfolio’s account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for a Portfolio. It is also understood, however, understood that it is desirable for the Fund a Portfolio that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund Portfolio than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser’s or sub-adviser’s services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Trust’s Board of Trustees may issue from time to time the purchase Adviser or sale of a security sub- adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund as well as other clients of minimum commission rates available, if the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trustsub-adviser, as applicable, determines in good faith that such amount of commission is reasonable in relation to the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account value of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal brokerage or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities research services provided by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting such broker or dealer, viewed in terms of either that particular transaction or the Adviser’s or the sub-adviser’s overall responsibilities with respect to a Portfolio and such other information as advisory clients. The Adviser’s services to a Portfolio pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Adviser may be reasonably requiredrender investment advice, management and other services to others.
Appears in 1 contract
Samples: Investment Management Agreement (Hartford Funds Master Fund)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price best overall terms available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Trust’s Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the The Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Investment Advisory Agreement for Subadviser (Sun Capital Advisers Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the TrustAdviser, the Subadviser Sub-adviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the each Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund Funds, the Sub-adviser shall seek to obtain best execution, taking into consideration various factors the Sub-adviser deems relevantin accordance with such certain brokers, subject to applicable laws its policies and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practiceprocedures. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser Sub-adviser deems the purchase or sale of a security to be in the best interests of the Fund Funds as well as other clients of the SubadviserSub-adviser, the SubadviserSub-adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser Sub-adviser in the manner the Subadviser Sub-adviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients. The Subadviser Sub-adviser will report on such allocations at the request of the Investment Adviser, the Fund Funds or the Trusts Trust’s Board of Trustees, providing such information as the number of aggregated trades to which the Fund was Funds were a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the TrustFor greater clarity, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the FundFunds, neither the Subadviser Sub-adviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundFunds, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser Sub-adviser will advise the Funds Funds’ custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject In connection with the purchases or sales of portfolio securities or other financial instruments for the account of the Fund, neither the Adviser, nor any of its partners, trustees, officers or employees nor any sub-adviser engaged by the Adviser pursuant to Section 4 hereof will act as principal or agent or receive any commission. The Adviser, a sub-adviser engaged by the provisions Adviser, or the agent of this Section 5 and absent instructions from the Investment Adviser or a sub-adviser, shall arrange for the Trust, the Subadviser will have full discretionary authority to place placing of all orders for the purchase and sale of portfolio securities and other financial instruments for the Fund's account of the Fund with such brokers or dealers selected by the Adviser or a sub-adviser, as it may selectapplicable. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times Adviser or a sub-adviser, as applicable, will use its best efforts to seek for the Fund obtain the most favorable execution and net security price availableavailable for the Fund. It is also understood, however, understood that it is desirable for the Fund that the Subadviser Adviser or sub-adviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at a higher commissions cost to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser lt is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is also understood that the services provided by such brokers may be useful to the Subadviser Adviser or sub-adviser in connection with its Adviser's or sub-adviser's services to other clients. On occasions when Subject to and in accordance with any directions that the Subadviser deems Fund's Board of Trustees may issue from time to time the purchase Adviser or sale of a security sub-adviser, as applicable, may also be authorized to be effect individual securities transactions at commission rates in the best interests excess of the Fund minimum commission rates available, if the Adviser or the sub-adviser, as well as other clients applicable, determines in good faith that such amount of commission is reasonable in relation to the value of the Subadviserbrokerage or research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Subadviser, to Adviser's or the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent sub-adviser's overall responsibilities with its fiduciary obligations respect to the Fund and to such other advisory clients. The Subadviser will report on such allocations at the request of the Investment Adviser, 's services to the Fund or pursuant to this Investment Management Agreement are not deemed to be exclusive and it is understood that the Trusts Board of TrusteesAdviser may render investment advice, providing such information as the number of aggregated trades management and other services to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredothers.
Appears in 1 contract
Samples: Investment Management Agreement (Hartford Schroders Opportunistic Income Fund)
Brokerage Transactions. Subject to the provisions of this Section 5 4 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable best execution and net price available. In assessing the best execution and net price available for any transaction, the Subadviser shall consider all factors it deems relevant, including, without limitation, the breadth of the market in and the price of the security, the financial condition and execution capability of the broker or dealer, the quality of research provided and the reasonableness of the commission, if any, with respect to the specific transaction and on a continuing basis. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than another broker may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient executionhave charged. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokersbrokers upon a good faith determination that the commission paid is reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, subject to applicable laws and regulations and review and direction by the Investment Adviser and the Trusts Trust's Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that The Subadviser shall provide such information as the Investment Adviser or the Trustees shall from time to time request concerning the commissions paid by the Fund and research and other services provided by such brokers may be useful to the Subadviser in connection with its services to other clientsby brokers executing transactions on behalf of the Fund. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations may buy securities for the Fund at the request same time it is selling such securities for another client account and may sell securities for the Fund at the time it is buying such securities for another client account. In such cases, subject to applicable legal and regulatory requirements, and in compliance with such procedures of the Trust as may be in effect from time to time, the Subadviser may effectuate cross transactions between the Fund and such other account if it deems this to be advantageous to both of the accounts involved. Notwithstanding the foregoing, the Subadviser agrees that the Investment Adviser shall have the right by written notice to identify securities that may not be purchased on behalf of the Fund and/or brokers and dealers through or with which portfolio transactions on behalf of the Fund may not be effected, including, without limitation, brokers or dealers affiliated with the Investment Adviser, . The Subadviser shall refrain from purchasing such securities for the Fund or the Trusts Board of Trustees, providing directing any portfolio transaction to any such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis broker or dealer on behalf of the allocation for Fund, unless and until the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction written approval of the Investment Adviser or the TrustBoard of Trustees, as the case may be, is so obtained. In addition, the Subadviser may also consider sales agrees that it shall not direct portfolio transactions for the Fund with or through the Subadviser or any broker or dealer that is an 'affiliated person' of Fund shares the Subadviser (as a factor defined in the selection 1940 Act or interpreted under applicable rules and regulations of brokers or dealers for a Funds portfolio transactionsthe Securities and Exchange Commission) without the prior written approval of the Board of Trustees and the Investment Adviser and then only as permitted under the 1940 Act. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust Board of Trustees and the Investment Adviser. The Subadviser will advise the Funds Fund's custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Sub Advisory Agreement (Deutsche Asset Management Vit Funds)
Brokerage Transactions. Subject to the provisions of this Section 5 and, if applicable, the Trading Annex as agreed between the Investment Adviser and the Sub-adviser, and absent instructions to the contrary from the Investment Adviser or the Trust, the Subadviser Sub-adviser will have full discretionary authority to place orders for the purchase and sale of securities and investments for the account of the Fund Funds with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Funds, the Sub-adviser shall seek to obtain for the Funds the most favorable price and execution available, considering all factors the Sub-adviser deems relevant, including the receipt of research or execution services. In compliance with Section 28(e) of the U.S. Securities Exchange Act of 1934, as amended, the Sub-adviser may cause the Fund to pay a commission for effecting a transaction for the Fund with such certain brokers, subject in excess of the amount another broker or dealer would have charged for effecting that transaction. This may be done where the Sub-adviser has determined in good faith that the commission is reasonable in relation to applicable laws and regulations and review the value of the services provided by the Investment Adviser and the Trusts Board of Trustees from time to time with respect broker-dealer to the extent and continuation of this practiceSub-adviser. It is understood that the services provided by such brokers may be useful to the Subadviser Sub-adviser in connection with its services to other clients. On occasions when the Subadviser Sub-adviser deems the purchase or sale of a security or investment to be in the best interests of the Fund Funds as well as other clients of the SubadviserSub-adviser, the SubadviserSub-adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate or bunch the securities to be sold or purchased in order and/or execute single or bunched orders as “block” transactions, and where applicable, to obtain the most favorable price allocate such bunched or lower brokerage commissions and efficient block orders among accounts following execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser Sub-adviser in the manner the Subadviser Sub-adviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser hereby acknowledges that aggregated or the Trust, the Subadviser “block” transactions may also consider sales of Fund shares as a factor in the selection of brokers be subject to different trading or dealers for a Funds portfolio regulatory treatment than those applicable to “non-block” transactions. In connection with purchases or sales of portfolio securities for the account of the FundFunds, neither the Subadviser Sub-adviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the FundFunds, except as permitted by applicable law and with law. The Sub-adviser will advise the express written consent of the Trust Funds’ custodian and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis , as applicable, as soon as reasonably practicable of each purchase and sale of a portfolio securitysecurity on behalf of the Fund in such format as agreed between the Investment Adviser and Sub-adviser, specifying the name of the issuer, the description and amount or number of shares of the security to be purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers brokers, dealers or dealers futures commission merchants as it may select. In the selection of such brokers brokers, dealers or dealers futures commission merchants and the placing of such orders, the Subadviser is directed at all times to seek for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities portfolio investments for the Fund, the Subadviser shall use its best efforts to obtain for the Fund with such certain brokersthe most favorable price and execution available, subject to applicable laws and regulations and review by considering all factors the Investment Adviser and Subadviser deems relevant, including the Trusts Board receipt of Trustees from time to time with respect to the extent and continuation of this practiceresearch or execution services. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. The Subadviser shall not be liable for any act or omission of any brokerage firm or firms or counterparties designated by the Investment Adviser or chosen by the Subadviser with reasonable care. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient executionexecution and to elect, where appropriate, any beneficial regulatory treatment, including real time reporting delays. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Trust's Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviserlaw. The Subadviser will advise the Funds Fund’s custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably required.
Appears in 1 contract
Samples: Investment Advisory Agreement (Forethought Variable Insurance Trust)
Brokerage Transactions. Subject The Adviser hereby grants the Sub-Adviser complete discretionary trading authorization to act as agent and attorney-in-fact with respect to investments made on behalf of the Accounts. The Sub-Adviser is authorized to select any broker or dealer that, in the Sub-Adviser's opinion, is capable of properly executing the transaction in a manner that is most beneficial to the provisions Account Holder. In choosing a broker, dealer or bank, the Sub-Adviser will consider the broker, dealer or bank's execution capability, reputation and access to the markets for the securities being traded for the Account Holder. The Sub-Adviser will seek competitive commission rates, but not necessarily the lowest rates available. The Sub-Adviser may also send transactions for the Account to brokers who charge higher commissions than other brokers, provided that the Sub-Adviser determines in good faith that the amount of this Section 5 commissions the Sub-Adviser pays is reasonable in relation to the value of the brokerage and absent instructions from the Investment Adviser research services provided, viewed in terms either of that particular transaction or the Trust, Sub-Adviser's overall responsibilities with respect to all Asset owners whose accounts the Subadviser will have full Sub-Adviser manages on a discretionary authority to place orders basis. Portfolio transactions for the Account generally are completed independently. However, if the Sub-Adviser decides to purchase and sale of or sell the same securities for the account Account Holder and any of Sub-Adviser's clients at about the same time, the Sub-Adviser may combine the Account Holder's order with those of its clients if the Sub-Adviser reasonably believes that it will be able to negotiate better prices or lower commission rates or transaction costs for the combined order than for the Account Holder's order alone. The Account Holder will pay the average price and transaction costs obtained for such combined orders. The Sub-Adviser generally will allocate securities purchased or sold as part of a combined order to the Accounts and to accounts of its clients according to the size of the Fund with such brokers or dealers as it may select. In the selection of such brokers or dealers and the placing of such orders, the Subadviser is directed at all times to seek order placed for the Fund the most favorable execution and net price available. It is also understood, however, that it is desirable for the Fund that the Subadviser have access to supplemental investment and market research and security and economic analyses provided by certain brokers who may execute brokerage transactions at higher commissions to the Fund than may result when allocating brokerage to other brokers solely on the basis of seeking the most favorable price and efficient execution. Therefore, the Subadviser is authorized to place orders for the purchase and sale of securities for the Fund with such certain brokers, subject to applicable laws and regulations and review by the Investment Adviser and the Trusts Board of Trustees from time to time with respect to the extent and continuation of this practice. It is understood that the services provided by such brokers may be useful to the Subadviser in connection with its services to other clients. On occasions when the Subadviser deems the purchase or sale of a security to be in the best interests of the Fund as well as other clients of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of securities so sold or purchased, as well as the expenses incurred in the transaction, will be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients. The Subadviser will report on such allocations at the request of the Investment Adviser, the Fund or the Trusts Board of Trustees, providing such information as the number of aggregated trades to which the Fund was a party, the broker(s) to whom such trades were directed and the basis of the allocation for the aggregated trades. Subject to the foregoing provisions of this Section 5 and at the direction of the Investment Adviser or the Trust, the Subadviser may also consider sales of Fund shares as a factor in the selection of brokers or dealers for a Funds portfolio transactions. In connection with purchases or sales of portfolio securities for the account of the Fund, neither the Subadviser nor any of its affiliated persons, will act as a principal or agent or receive directly or indirectly any compensation in connection with the purchase or sale of investment securities by the Fund, except as permitted by applicable law and with the express written consent of the Trust and the Investment Adviser. The Subadviser will advise the Funds custodian and the Investment Adviser on a prompt basis of each purchase and sale of a portfolio security, specifying the name of the issuer, the description and amount or number of shares of the security purchased or sold, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer, and such other information as may be reasonably requiredclient.
Appears in 1 contract
