Portfolio Characteristics. All purchases, other then Cash & Cash Equivalents, must be the equities of companies who fall in the defined universe of Small Cap Value stocks. Established positions may be held even if they no longer fit the definitions. However, no purchases may be made in these non-conforming stocks, other than the reinvestment of dividends. The Cash & Cash Equivalents may not exceed 20.0% of the portfolio unless approved by the adviser. Any one equity position may not exceed 50% of the sub-adviser's portfolio nor be less than 2% of the sub-adviser's portfolio. No purchases may be made into equities, which already represent in excess of 30% of the sub-adviser's portfolio.
Portfolio Characteristics. The Portfolios of Eligible Loans sold by Seller to Purchaser under this Agreement shall have the following characteristics: (i) the Eligible Loans shall, in the aggregate, have an average borrower indebtedness ("ABI") of at least $3,500.00; (ii) no more than 30% of the aggregate Principal Balance of all of the Eligible Loans as of the date of sale may be attributable to Student Loans the proceeds of which funded tuition to private Eligible Institutions offering only non-baccalaureate degrees; (iii) at least 70% of the aggregate Principal Balance of all of the Eligible Loans as of the date of sale shall be attributable to Federal Xxxxxxxx Loans (as defined in the Higher Education Act) which qualify for Interest Benefit Payments, PLUS Loans or SLS Loans; (iv) no more than 30% of the aggregate Principal Balance of all of the Eligible Loans as of the date of sale may be attributable to Unsubsidized Loans, and (v) no more than 10% of the aggregate Principal Balance of all of the Eligible Loans as of the date of sale may be attributable to Consolidation Loans, unless otherwise agreed by the Parties. An individual Portfolio of Eligible Loans sold pursuant to this Agreement may not have the characteristics described in the preceding sentence if, immediately after the consummation of the purchase of such Portfolio of Eligible Loans, the aggregate of all Eligible Loans sold to Purchaser pursuant to this Agreement shall have such characteristics. If Purchaser does not object to the characteristics of any Portfolio of Eligible Loans, sold pursuant to this Agreement, within 30 days of such sale, Purchaser shall be deemed to have waived any objection to the characteristics of such Portfolio.
Portfolio Characteristics. All purchases, other then Cash & Cash Equivalents, must be the equities of companies who fall in the defined universe of Small Cap Value stocks. Established positions may be held even if they no longer fit the definitions. However, no purchases may be made in these non-conforming stocks, other than the reinvestment of dividends. The Cash & Cash Equivalents may not exceed 20% of the portfolio.
Portfolio Characteristics. The Fund should invest at least 80% of its net assets in U.S. real estate equity securities. · The Sub-Advisor assets should be invested primarily in a portfolio of real estate investment trusts and other real estate securities. The portfolio may invest in equity, mortgage and hybrid REITs. · The majority of the Sub-Advisor assets will consist of securities issued by equity REITs. The portfolio will not invest more than 10% of its assets in mortgage REITs under normal circumstances. · May invest up to 10% in private placements. · There is no limit on the use of convertible securities in the Sub-Advisor assets. Convertible bonds and stocks will be considered relative to the underlying common stocks and will be viewed as equity commitments. The Fund may invest in convertible securities that are rated, at the time of purchase, in the three highest rating categories by a nationally recognized statistical rating organization such as Mxxxx'x or S&P, or if unrated, are determined by the sub-advisor to be of comparable quality. Ratings represent the rating agency's opinion regarding the quality of the security and are not a guarantee of quality. Should the rating of a security be downgraded subsequent to a Fund's purchase of the security, the adviser will determine whether it is in the best interest of the Fund to retain the security. · Cash will normally range from 0% to 10%. It is understood that Sub-Advisor should attempt to minimize the percentage of cash in the portfolio. · No more than 10% of the value of the Sub-Advisor assets will be invested in any single security, except for any position in Equity Office Properties, (EOP), and with the exception of U.S. Treasury obligations.
Portfolio Characteristics o In general, the characteristics shall remain reflective of a large cap value portfolio. o At least 80% of the Fund's net assets shall be invested in equity securities of U.S. companies with market capitalization within the range of those in the Xxxxxxx 1000 Index. o No more than 5% of the total market value of Sub-Advisor assets shall be invested in cash. o No more than 10% of the total market value of Sub-Advisor assets shall be invested in ADRs and securities of non-U.S. issuers; and in no event shall the Fund's total investment is such securities exceed 10% of its total assets. o No more than 5% of the total market value of Sub-Advisor assets shall be invested in a single issuer at the time of investment. o The Sub-Advisor assets will contain approximately 40 to 75 issues. o No single industry group shall constitute the greater of more than 1.5 times its comparable representation in the benchmark or 20% of the Sub-Advisor assets; provided that the Sub-Advisor will not purchase any securities that would cause more than 25% of the total assets of the fund to be invested in securities of one or more issuers conducting their principal business activities in the same industry. This 25% limitation does not apply to the securities of other investment companies or investments in obligations issued of guaranteed by the United States Government, its agencies or instrumentalities. Note: Keep in mind that an industry is defined by the 4 digit SIC code.
Portfolio Characteristics o The Sub-Advisor assets shall contain approximately 35-50 issues o Except with respect to the initial investment of the Sub-Advisor assets or cash contributions, no more than 5% of the Sub-Advisor assets market value shall be invested in cash, subject to additional amounts to meet liquidity requirements. o There are no country/region exposure limitations; provided that no more than 15% of the Sub-Advisor assets may be in equity securities of companies located in emerging markets or developing economies. o The Sub-Advisor must adhere to 1940 Act restrictions of no more that 25% exposure to any one industry o The single-issue limitation will be 5% of total Sub-Advisor assets at the time of purchase o The Sub-Advisor will not invest in the securities of any issuer such that the Fund holds more than 3% of the total outstanding voting securities of that issuer Note: Keep in mind that an industry is defined by the 4 digit SIC code.
Portfolio Characteristics o In general, the characteristics shall remain reflective of a large cap value portfolio. o At least 80% of the AssetMark Large Cap Value Fund's net assets shall be invested in common stocks and convertible securities of large cap companies with market capitalization within the range of those in the Russell 1000 Index at the time xx xxxchase. o No more than 10% of the total market value of Sub-Advisor Assets of the AssetMark Large Cap Value Fund shall be invested in cash; historical cash levels have run between 0 to 10%. o No more than 10% of the total market value of Sub-Advisor Assets of the AssetMark Large Cap Value Fund shall be invested in ADRs and securities of non-U.S. issuers; and in no event shall the AssetMark Large Cap Value Fund's total investment in such securities exceed 10% of its total assets. o No more than 7.5% of the total market value of Sub-Advisor Assets of the AssetMark Large Cap Value Fund shall be invested in a single issuer. o The Sub-Advisor Assets of the AssetMark Large Cap Value Fund will contain approximately 40 to 50 issues. o No single industry group shall constitute the greater of more than 2.0 times its comparable representation in the benchmark or 40% of Sub-Advisor Assets of the AssetMark Large Cap Value Fund; provided that the Sub-Advisor will not purchase any securities that would cause more than 25% of the total assets of the AssetMark Large Cap Value Fund to be invested in securities of one or more issuers conducting their principal business activities in the same industry. This 25% limitation does not apply to the securities of other investment companies or investments in obligations issued of guaranteed by the United States Government, its agencies or instrumentalities. Note: Keep in mind that an industry is defined by the 4 digit SIC code.
Portfolio Characteristics. The portfolio should invest at least 80% of its total assets in equities of U.S. companies with market capitalization of more than $5 billion at the time of purchase. · No more than 5% of the portfolio’s total market value shall be invested in cash. · No more than 15% of the portfolio’s total market value shall be invested in ADRs and securities of non-U.S. issuers. · No more than 5% of the portfolio’s total market value shall be invested in a single issuer. · The portfolio should be diversified in 45 positions or more. · Equity holdings in any one economic sector of the S&P 500 / BARRA Growth index, as defined by the benchmark provider, should not exceed the greater of 40% of the portfolio or 125% of the sector’s weight in the S&P 500 / BARRA Growth Index, measured at market value.
Portfolio Characteristics. Except as provided in Section 12.3(c), a security will be eligible for inclusion in the Collateral as a Pledged Collateral Interest only if, as evidenced by an Officer’s certificate from the Collateral Manager to the Trustee, each of the following eligibility criteria is satisfied immediately after the Issuer Grants such Collateral Interest to the Trustee (collectively, the Eligibility Criteria):
(a) it is issued by an issuer incorporated or organized under the laws of the United States, the Bahamas, Bermuda, the Cayman Islands, the British Virgin Islands, the Netherlands Antilles, Jersey, Guernsey or Luxembourg;
(b) it is U.S. Dollar-denominated and all cash flows thereunder are to be paid in U.S. Dollars, and it is not convertible into, or payable in, any other currency; provided, however, the requirements of this Section (b) will not be applicable if Rating Confirmation is obtained;
(c) it is one of the Specified Types of Collateral Interests;
(d) it has an S&P Rating (which rating does not include a “p”, “pi”, “q”, “t” or “r” subscript) and a Xxxxx’x Rating;
Portfolio Characteristics o In general, the characteristics shall remain reflective of a small/mid cap value portfolio as proxied by the characteristics of the Xxxxxxx 2500 Value Index. o The Fund should invest at least 80% of its total assets in equity securities of U.S. companies with market capitalization within the range of those in the Xxxxxxx 2000 Index and the Xxxxxxx Midcap Index at the time of purchase. o The average weighted market capitalization of the Sub-Advisor assets shall be similar to the Xxxxxxx 2500 Value Index. o No more than 10% of the Sub-Advisor assets total market value shall be invested in cash. o No more than 10% of the Sub-Advisor assets total market value shall be invested in ADRs and securities of non-U.S. issuers; and in no event shall the Fund's total investment in such securities exceed 10% of its total assets. o No more than 5% of the Sub-Advisor assets total market value shall be invested in a single issuer at the time of purchase. o The Sub-Advisor assets will contain approximately 40 to 60 issues. o No single industry group shall constitute greater than 30% of the portfolio; provided that the Sub-Advisor will not purchase any securities that would cause more than 25% of the total assets of the fund to be invested in securities of one or more issuers conducting their principal business activities in the same industry. This 25% limitation does not apply to the securities of other investment companies or investments in obligations issued of guaranteed by the United States Government, its agencies or instrumentalities. Note: Keep in mind that an industry is defined by the 4 digit SIC code.
