Common use of Treatment of Investment Advice Clause in Contracts

Treatment of Investment Advice. With respect to the Portfolio, the Fund shall treat the investment advice and recommendations of InterSecurities as being advisory only, and shall retain full control over its own investment policies. However, the Trustees of the Fund may delegate to the appropriate officers of the Fund, or to a committee of Trustees, the power to authorize purchases, sales or other actions affecting the securities of the Portfolio in the interim between meetings of the Trustees, provided such action is consistent with the established investment policy of the Fund and is reported to the Trustees at their next meeting.

Treatment of Investment Advice. With respect to the Portfolio, the Fund Trust shall treat the investment advice and recommendations of InterSecurities as being advisory only, and shall retain full control over its own investment policies. However, the Trustees of the Fund Trust may delegate to the appropriate officers of the FundTrust, or to a committee of Trustees, the power to authorize purchases, sales or other actions affecting the securities portfolio of the Portfolio in the interim between meetings of the Trustees, provided such action is consistent with the established investment policy of the Fund Trustees and is reported to the Trustees at their next meeting.