Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser. 4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients. 4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act. 4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 10 contracts
Samples: Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc), Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc), Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 9 contracts
Samples: Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct), Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct), Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. (a) It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. (b) The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 10f-3 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known or should be known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 4 contracts
Samples: Investment Sub Advisory Agreement (Fortis Series Fund Inc), Interim Investment Sub Advisory Agreement (Fortis Series Fund Inc), Investment Sub Advisory Agreement (Fortis Series Fund Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. 4.1 It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. 4.2 The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 10f-3 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known or should be known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 4 contracts
Samples: Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc), Investment Sub Advisory Agreement (Fortis Series Fund Inc), Interim Investment Sub Advisory Agreement (Fortis Series Fund Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed (including, to the extent permissible under applicable law and regulations, affiliates of the Sub-Adviser) and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies invest in securities similar to those of in which the Portfolio invests and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized (but not required) to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 4 contracts
Samples: Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct), Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc), Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "“34 Act"”) provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "“cross transactions"”) for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "“Advisers Act"”), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 2 contracts
Samples: Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc), Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers This notwithstanding, when the Sub-Adviser places orders for the purchase or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstancessale of Portfolio assets, so long as the Sub-Adviser endeavors uses reasonable efforts in seeking the best execution in selecting brokers to obtain best executionexecute such orders, the Sub-Adviser is expressly authorized to consider the brokerage and research fact that a broker has furnished, or has agreed to furnish in the future, research, statistical or other information or services (within the meaning of permitted under Section 28(e) of the Securities and Exchange Act of 1934, as amended) 1934 (the "34 ActServices") provided to by such broker that enhance the Sub-Adviser's investment research and portfolio management capability generally. It is understood that the Sub-Adviser may not use all Services in connection with the Portfolio. Sub-Adviser will not be required or deemed to have the duty to obtain the lowest brokerage commission rates available or to combine or arrange orders to obtain the lowest brokerage commission rates available on transactions in the Portfolio. If the amount of commission charged by a broker is reasonable in relation to the value of the brokerage functions and the Services provided by such broker to Sub-Adviser, Sub-Adviser may direct brokerage transactions to such broker notwithstanding the fact that such broker charges a higher commission than those that another broker might charge.
4.1. (a) It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. (b) The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 10f-3 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known or should be known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser in writing of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 2 contracts
Samples: Investment Sub Advisory Agreement (Fortis Series Fund Inc), Interim Investment Sub Advisory Agreement (Fortis Series Fund Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known or should be known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 2 contracts
Samples: Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc), Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the The Sub-Adviser endeavors may utilize its trading desk in performing its obligations under this Paragraph 4.
4.1 The Subadviser agrees that, in placing orders with broker-dealers for the purchase or sale of portfolio securities, it shall attempt to obtain best executionquality execution at favorable security prices; provided that, on behalf of the Portfolio, the SubSubadviser may, in its discretion, agree to pay a broker-Adviser is authorized to consider the dealer that furnishes brokerage and or research services (within the meaning of as such services are defined under Section 28(e) of the Securities Exchange Act of 1934, as amended) amended (the "34 1934 Act") provided ), a higher commission than that which might have been charged by another broker-dealer for effecting the same transactions, if the Subadviser determines in good faith that such commission is reasonable in relation to the Subbrokerage and research services provided by the broker-Adviserdealer, viewed in terms of either that particular transaction or the overall responsibilities of the Subadviser with respect to the accounts as to which it exercises investment discretion (as such term is defined under Section 3(a)(35) of the 1934 Act). In no instance will portfolio securities be purchased from or sold to the Subadviser, or any affiliated person thereof, except in accordance with the federal securities laws and rules and regulations thereunder.
4.1. 4.2 It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. 4.3 The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 10f-3 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Interim Investment Sub Advisory Agreement (Fortis Series Fund Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the The Sub-Adviser endeavors may utilize its trading desk in performing its obligations under this Paragraph 4.
4.1 The Subadviser agrees that, in placing orders with broker-dealers for the purchase or sale of portfolio securities, it shall attempt to obtain best executionquality execution at favorable security prices; provided that, on behalf of the Portfolio, the SubSubadviser may, in its discretion, agree to pay a broker-Adviser is authorized to consider the dealer that furnishes brokerage and or research services (within the meaning of as such services are defined under Section 28(e) of the Securities Exchange Act of 1934, as amended) amended (the "34 1934 Act") provided ), a higher commission than that which might have been charged by another broker-dealer for effecting the same transactions, if the Subadviser determines in good faith that such commission is reasonable in relation to the Subbrokerage and research services provided by the broker-Adviserdealer, viewed in terms of either that particular transaction or the overall responsibilities of the Subadviser with respect to the accounts as to which it exercises investment discretion (as such term is defined under Section 3(a)(35) of the 1934 Act). In no instance will portfolio securities be purchased from or sold to the Subadviser, or any affiliated person thereof, except in accordance with the federal securities laws and rules and regulations thereunder.
4.1. 4.2 It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or purchase(or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. 4.3 The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied i)complied with Rule 10f-3, Rule 17a-7 10f-3 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Interim Investment Sub Advisory Agreement (Fortis Series Fund Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the The Sub-Adviser endeavors may utilize its trading desk in performing its obligations under this Paragraph 4.
4.1 The Sub-Adviser agrees that, in placing orders with broker-dealers for the purchase or sale of portfolio securities, it shall attempt to obtain best executionquality execution at favorable security prices; provided that, on behalf of the Portfolio, the Sub-Adviser is authorized may, in its discretion, agree to consider the pay a broker-dealer that furnishes brokerage and or research services (within the meaning of as such services are defined under Section 28(e) of the Securities Exchange Act of 1934, as amended) amended (the "34 1934 Act"), a higher commission than that which might have been charged by another broker-dealer for effecting the same transactions, if the Sub-Adviser determines in good faith that such commission is reasonable in relation to the brokerage and research services provided by the broker-dealer, viewed in terms of either that particular transaction or the overall responsibilities of the Sub-Adviser with respect to the accounts as to which it exercises investment discretion (as such term is defined under Section 3(a)(35) provided of the 1934 Act). In no instance will portfolio securities be purchased from or sold to the Sub-Adviser, or any affiliated person thereof, except in accordance with the federal securities laws and rules and regulations thereunder.
4.1. 4.2 It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. 4.3 The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 10f-3 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, may make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Sub- Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Sub- Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Investment Sub Advisory Agreement (Hartford Mutual Funds Inc/Ct)
Selection of Broker-Dealers. The Suba) When selecting broker-Adviser shall select the brokers and dealers through whom to effect portfolio transactions on behalf of the Portfolio Account, the Manager will be executed and select the markets on or in which such transactions will be executed and shall placebroker-dealer(s) who, in the name judgment of the Portfolio or its nominee (or appropriate foreign equivalent)Manager, all such orderswill provide best execution. In selecting brokers and dealers determining the ability of a broker-dealer to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute provide best execution on a particular transaction and in evaluating for the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best executionAccount, the SubManager will consider all relevant factors, including, without limitation: (i) the ability of the broker-Adviser is authorized dealer to consider provide prompt and efficient execution; (ii) the ability and willingness of a broker-dealer to facilitate the transaction by acting as principal and going at risk for its own account; (iii) the ability of the broker-dealer to provide accurate and timely settlement of the transaction; (iv) the Manager’s knowledge of the negotiated commission rates currently available and other current transaction costs; (v) the clearance and settlement capabilities of the broker-dealer; (vi) the Manager’s knowledge of the financial condition of the broker-dealer selected; and (vii) any other matter relevant to the selection.
b) The Client understands and agrees that brokerage commissions on the Account’s portfolio transactions may be directed to broker-dealers in recognition of investment research and research information furnished as well as for services (within rendered in the meaning execution of orders by such broker-dealers in accordance with Section 28(e) of the Securities and Exchange Act of 1934. Accordingly, the Manager may, in its discretion, cause the Account to pay a broker-dealer a commission for effecting a transaction for the Account in excess of the amount of commission another broker-dealer adequately qualified to effect such transaction would have charged for effecting that transaction. This may be done where the Manager has determined in good faith that such commission is reasonable in relation to the value of the brokerage and/or research provided by the broker-dealer to the Account or any other client account over which the Manager exercises management discretion. The Manager shall not be required to limit to the Account the use of the research or other services provided by a broker-dealer in connection with effecting a transaction for the Account.
c) When the Manager determines that the purchase or sale of a security or other permitted investment is in the best interest of the Account, as amended) (the "34 Act") provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by well as its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-AdviserManager, to the extent permitted by applicable laws and regulationslaws, may, but shall be under no obligation to, may aggregate the securities or investments to be sold or purchased for the Account with those of its other clients in order to obtain the most a favorable price or lower execution and favorable brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantitycommissions. In such event, the Sub-Adviser shall allocate allocation of the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) transactions, will be made by the Manager in a manner the Sub-Adviser Manager considers equitable and consistent with its obligations to the Portfolio Client and the Sub-Adviser's to its other clients.
4.2. The Sub-Adviser agrees that it will only enter into d) Any transactions for the Account that are covered effected by Section 10(f), Section 17(athe Manager through Lazard Capital Markets LLC (“LCM”) or another broker-dealer affiliated with the Manager on a national securities exchange of which LCM or such broker-dealer is a member will be effected in accordance with Section 17(e11 (a) of the 1940 United States Securities Exchange Act if it has (i) complied of 1934, as amended, and the regulations promulgated thereunder. The Client hereby authorizes LCM or such broker-dealer to retain commissions for effecting such transactions and to pay out of such retained commissions any compensation due to others in connection with Rule 10f-3effectuating those transactions, Rule 17a-7 provided that such commissions shall be at commercially reasonable market rates. The Client hereby consents that, in effecting securities transactions for the Account, an affiliate of the Manager may also act as agent for one or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued more other parties to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors transaction. The Client hereby acknowledges that if an affiliate of the Company which mayManager acts as agent for another party to a transaction, pursuant such affiliate will have a potential conflicting division of loyalties and responsibilities regarding the parties to authority granted the transaction. The Client acknowledges that this written consent to the Manager to act as agent for other parties to a transaction may be revoked at any time by the Company, be supplemented by interpretive guidelines of written notice to the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "cross transactions") for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Investment Management Agreement (Max Capital Group Ltd.)
Selection of Broker-Dealers. The Sub-Adviser shall select the brokers and dealers through whom transactions on behalf of the Portfolio will be executed and the markets on or in which such transactions will be executed and shall place, in the name of the Portfolio or its nominee (or appropriate foreign equivalent), all such orders. In selecting brokers and dealers to execute such transactions, and in negotiating brokerage commissions, and in obtaining research, statistical and other information from brokers and dealers in connection with Portfolio transactions, the Sub-Adviser shall comply with the description of the process contained in the Prospectus. In selecting brokers or dealers to execute a particular transaction and in evaluating the best terms available with respect to such transaction under the circumstances, so long as the Sub-Adviser endeavors to obtain best execution, the Sub-Adviser is authorized to consider the brokerage and research services (within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended) (the "“34 Act"”) provided to the Sub-Adviser.
4.1. It is understood that certain other clients (including other funds, portfolios and accounts) of the Sub-Adviser may have investment objectives and policies similar to those of the Portfolio and that the Sub-Adviser may, from time to time, make recommendations that result in the purchase (or sale) of a particular security by its other clients and the Portfolio during the same period of time. In connection with its management of the Portfolio and consistent with its obligations to the Portfolio and such other clients, the Sub-Adviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or investments to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. If transactions on behalf of more than one client during the same period increase the demand for securities being purchased or the supply of securities being sold, there may be an adverse effect on price or quantity. In such event, the Sub-Adviser shall allocate the securities or investments to be purchased or sold, as well as the expenses incurred in the transactions (including price) in a manner the Sub-Adviser considers equitable and consistent with its obligations to the Portfolio and the Sub-Adviser's ’s other clients.
4.2. The Sub-Adviser agrees that it will only enter into transactions that are covered by Section 10(f), Section 17(a) or Section 17(e) of the 1940 Act if it has (i) complied with Rule 10f-3, Rule 17a-7 or Rule 17e-1 thereunder, respectively, or the terms of an appropriate exemptive order issued to the Company by the SEC, and (ii) has complied with the procedures adopted thereunder by the Board of Directors of the Company which may, pursuant to authority granted by the Company, be supplemented by interpretive guidelines of the Manager. The Sub-Adviser shall not consult with any other sub-adviser of the Company, or any portfolio thereof, concerning any transaction of the Company, or any portfolio thereof, in securities or other assets other than for purposes of complying with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act. Aside from parties that are known by the Sub-Adviser, the Manager shall promptly notify the Sub-Adviser of any additional parties with whom engaging in a transaction for the Portfolio would result in a violation of the 1940 Act.
4.3. The Manager hereby agrees and consents that the Sub-Adviser and its affiliates are authorized to execute agency cross transactions (collectively "“cross transactions"”) for the Portfolio provided such transactions comply with Rule 206(3)-2 under the Investment Advisers Act of 1940, as amended (the "“Advisers Act"”), Rule 17e-1 under the 1940 Act and any applicable laws or regulations.
Appears in 1 contract
Samples: Interim Investment Sub Advisory Agreement (Hartford HLS Series Fund Ii Inc)