Exhibit 77Q1(e)
INVESTMENT ADVISORY AGREEMENT
THIS AGREEMENT is made by and between
AELTUS INVESTMENT MANAGEMENT, INC. a
Connecticut corporation (the "Adviser")
and AETNA GET FUND, a Massachusetts business trust
(the "Fund"), on behalf of its Series C (the "Series")
, with respect to the following recital of facts:
R E C I T A L
WHEREAS, the Fund is registered with the Securities
and Exchange Commission (the "Commission") as an
open-end, diversified, management investment company
under the Investment Company Act of 1940 (the
"1940 Act"); and
WHEREAS, the Fund has established the Series; and
WHEREAS, the Adviser is registered with the Commission
as an investment adviser under the Investment Advisers
Act of 1940 (the "Advisers Act"), and is in the business
of acting as an investment adviser; and
WHEREAS, the Fund, on behalf of the Series, and the
Adviser desire to enter into an agreement to provide
for investment advisory and management services for
the Series on the terms and conditions hereinafter
set forth;
NOW THEREFORE, the parties agree as follows:
I. APPOINTMENT AND OBLIGATIONS OF THE ADVISER
Subject to the terms and conditions of this Agreement
and the policies and control of the Fund's Board of
Trustees (the "Board"), the Fund, on behalf of the
Series, hereby appoints the Adviser to serve as the
investment adviser to the Series, to provide the
investment advisory services set forth below in
Section II. The Adviser agrees that, except as
required to carry out its duties under this Agreement
or otherwise expressly authorized, it is acting as an
independent contractor and not as an agent of the
act for or represent the Series in any way.
II. DUTIES OF THE ADVISER
In carrying out the terms of this Agreement, the
Adviser shall do the following:
1. supervise all aspects of the operations of
the Series;
2. select the securities to be purchased, sold
or exchanged by the Series or otherwise
represented in the Series' investment portfolio,
place trades for all such securities and
regularly report thereon to the Board;
3. formulate and implement continuing programs
for the purchase and sale of securities and
regularly report thereon to the Board;
4. obtain and evaluate pertinent information
about significant developments and economic,
statistical and financial data, domestic,
foreign or otherwise, whether affecting
the economy generally, the Series,
securities held by or under consideration
for the Series, or the issuers of those securities;
5. provide economic research and securities
analyses as the Adviser considers necessary
or advisable in connection with the Adviser's
performance of its duties hereunder;
6. obtain the services of, contract with,
and provide instructions to custodians
and/or subcustodians of the Series' securities,
transfer agents, dividend paying agents,
pricing services and other service providers
as are necessary to carry out the terms of
this Agreement; and
7. take any other actions which appear to
the Adviser and the Board necessary to carry
into effect the purposes of this Agreement.
III. REPRESENTATIONS AND WARRANTIES
A. Representations and Warranties of the Adviser
Adviser hereby represents and warrants to the
Fund as follows:
1. Due Incorporation and Organization. The
Adviser is duly organized and is in good standing
under the laws of the State of Connecticut and is
fully authorized to enter into this Agreement and
carry out its duties and obligations hereunder.
2. Registration. The Adviser is registered as an
investment adviser with the Commission under the
Advisers Act. The Adviser shall maintain such
registration in effect at all times during the
term of this Agreement.
3. Best Efforts. The Adviser at all times
shall provide its best judgment and effort
to the Series in carrying out its obligations
hereunder.
B. Representations and Warranties of the Series
and the Fund
The Fund, on behalf of the Series, hereby
represents and warrants to the Adviser as follows:
1. Due Incorporation and Organization. The
Fund has been duly incorporated under the laws
of the Commonwealth of Massachusetts and it is
authorized to enter into this Agreement and carry
out its obligations hereunder.
2. Registration. The Fund is registered as
an investment company with the Commission under
the 1940 Act and shares of the Series are
research services pro
and is paid in compliance with Section 28(e).
This determination may be viewed in terms of
either that particular transaction or the
overall responsibilities that the Adviser
and its affiliates have with respect to
accounts over which they exercise investment
discretion. The Board shall periodically
review the commissions paid by the Series
to determine if the commissions paid over
representative periods of time were
reasonable in relation to the benefits received.
VI. CONTROL BY THE BOARD
Any investment program undertaken by the Adviser
pursuant to this Agreement, as well as any
other activities undertaken by the Adviser
on behalf of the Series pursuant thereto,
shall at all times be subject to any
directives of the Board.
VII. COMPLIANCE WITH APPLICABLE REQUIREMENTS
In carrying out its obligations under this
Agreement, the Adviser shall at all times
conform to:
1. all applicable provisions of the 1940 Act;
2. the provisi
B. Selection of Broker-Dealers
In selecting broker-dealers qualified to
execute a particular transaction, brokers
or dealers may be selected who also provide
brokerage or research services (as those
terms are defined in Section 28(e) of the
Securities Exchange Act of 1934) to the
Adviser and/or the other accounts over
which the Adviser or its affiliates
exercise investment discretion. The
Adviser may also select brokers or dealers
to effect transactions for the Series that
provide payment for expenses of the Series.
The Adviser is xxxxx who provides such
brokerage or research services or expenses,
and that has provided assistance in the
distribution of shares of the Series to
the extent permitted by law, a commission
for executing a portfolio transaction for
the Series that is in excess of the amount
of commission another broker or dealer
would have charged for effecting that
transaction if the Adviser determines in
good faith that such amount of commission
is reasonable in relation to the value of
the brokerage or res
research services pro
ng month shall be made as promptly as possible.
IX. EXPENSES
The expenses in connection with the management
of the Series shall be allocated between the
Series and the Adviser as follows:
A. Expenses of the Adviser
The Adviser shall pay:
1. the salaries, employment benefits and
other related costs and expenses of those
of its personnel engaged in providing
investment advice to the Series, including
without limitation, office space, office
equipment, telephone and postage costs; and
2. all fees and expenses of all trustees,
officers and employees, if any, of the
Fund who are employees of the Adviser,
including any salaries and employment
benefits payable to those persons.
B. Expenses of the Series
The Series shall pay:
1. investment advisory fees pursuant to
this Agreement;
2. brokers' commissions, issue and transfer
taxes or other transaction fees payable in
connection with any transactions in the
securities in the Series' investment
portfolio or other investment transactions
incurred in managing the Series' assets,
including portions of commissions that may
be paid to reflect brokerage research
services provided to the Adviser;
3. fees and expenses of the Series'
independent accountants and legal counsel
and the independent Trustees' legal counsel;
4. fees and expenses of any administrator,
transfer agent, custodian, dividend,
accounting, pricing or disbursing agent of
the Series;
5. interest and taxes;
6. fees and expenses of any membership
in the Investment Company Institute or
any similar organization in which the
Board deems it advisable for the Fund
to maintain membership;
7. insurance premiums on property or
personnel (including officers and
trustees) of the Fund;
8. all fees and expenses of the
Company's trustees, who are not
"interested persons" (as defined
in the 0000 Xxx) of the Fund or
the Adviser;
9. expenses of preparing, printing
and distributing proxies, proxy
statements, prospectuses and reports
to shareholders of the Series, except
for those expenses paid by third
parties in connection with the
distribution of Series shares and
all costs and expenses of
shareholders' meetings;
10. all expenses incident to the
payment of any dividend, distribution,
withdrawal or redemption, whether in
shares of the Series or in cash;
11. costs and expenses (other than
those detailed in paragraph 9 above)
of promoting the sale of shares in
the Series, including preparing
prospectuses and reports to
shareholders of the Series, provided,
nothing in this Agreement shall
prevent the charging of such costs
to third parties involved in the
distribution and sale of Series
shares;
12. fees payable by the Series to
the Commission or to any state
securities regulator or other
regulatory authority for the
registration of shares of the Series
in any state or territory of the
United States or of the District
of Columbia;
13. all costs attributable to
investor services, administering
shareholder accounts and handling
shareholder relations, (including,
witging add
se or redemption of shares; or otherwise
providing services to shareholders of
the Series; and (c) such other
administrative services as may be furnished
from time to time by the Adviser to the
Fund or the Series at the request of the Board.
XI. NONEXCLUSIVITY
The services of the Adviser to the Series are
not to be deemed to be exclusive, and
the Adviser shall be free to render
investment advisory or other services to
others (including other investment
companies) and to engage in other activities,
so long as its services under this Agreement
are not impaired thereby. It is understood
and agreed that officers and directors of
the Adviser may serve as officers or
trustees of the Fund, and that officers
or trustees of the Fund may serve as
officers or directors of
tted by law; and that the officers and
directors of the Adviser are not
prohibited from engaging in any other
business activity or from rendering
services to any other person, or from
serving as partners, officend its
shareholders. Payment or
assumption by the Adviser of any
Series expense that the Adviser
is not otherwise required to pay
or assume under this Agreement
shall not relieve the Adviser of
any of its obligations to the Series
nor obligate the Adviser to pay or
assume any similar Series expense on
any subsequent occasions. Such
services may include, but are not
limited to, (a) the services of a
principal financial officer of the
Fund (including applicable office
space, facilities and equipment)
whoseining the financial accounts
and books and records of the Fund
and the Series and the services
(including applicable office space,
facilities and equipment) of any of
the personnel operating under the
direction of such principal financial
officer; (b) the services of staff
to respond to shareholder inquiries
concerning the status of their
accounts, providing assistance to
shareholders in exchanges among
the investment companies managed
or advised by the Adviser, changing
account designations or changing
ging add
e of a majority of the Series'
outstanding voting securities
(as defined in Section 2(a)(42)
of the 1940 Act), or by the Adviser,
on sixty (60) days' written notice to
the other party. The notice provided
for herein may be waived by the party
required to be notified. This
Agreement shall automatically terminate
in the event of its "assignment."
XV. LIABILITY
The Adviser shall be liable to the Fund
and shall indemnify the Fund for any
losses incurred by the Fund, whether in
the purchase, holding or sale of any
security or otherwise, to the extent
that such losses resulted from an act
or omission on the part of the Adviser
or its officers, directors or employees,
that is found to involve willful
misfeasance, bad faith or negligence,
or reckless disregard by the Adviser of
its duties under this Agreement, in
connection with the services rendered
by the Adviser her
XVI. NOTICES
Any notices under this Agreement shall
be in writing, addressed and delivered
, mailed postage paid, or sent by other
delivery service, or by facsimile
transmission to each party at such
address as each party may designate
for the receipt of notice. Until
further notice, such addresses shall
be:
if to the Fund, on behalf of the Series:
000 Xxxxxxxxxx Xxxxxx
Xxxxxxxx, Xxxxxxxxxxx 00000
Fax number 860/000-0000
if to the Adviser:
000 Xxxxxxxx Xxxxxx
Xxxxxxxx, Xxxxxxxxxxx 00000-0000
Fax number 860/000-0000
XVII. QUESTIONS OF INTERPRETATION
This Agreement shall be governed by
the laws of the State of Connecticut.
Any question of interpretation of any
term or provision of this Agreement
having a counterpart in or otherwise
derived from a term or provision of
the 1940 Act shall be resolved by
reference to such term or provision
of the 1940 Act and to interpretations
thereof, if any, by the United States
courts or, in the absence of any
controlling decision of any such court,
by rules or orders of the Commission
issued pursuant to the 1940 Act,
nterpretive positions taken by the
Commission staff. In addition, where
the effect of a requirement of the 1940
Act reflected in the provisions of this
Agreement is revised by rule or order
of the Commission, such provisions shall
be deemed to incorporate the effect of
such rule or order.
XVIII. SERVICE XXXX
The service xxxx of the Fund and the Series
and the name "Aetna" have been adopted by
the Fund with the permission of
Aetna Services, Inc. (formerly known as
Aetna Life and Casualty Company) and their
continued use is subject to the right of
Aetna Services, Inc. to withdraw this
permission in the event the Adviser or
another affiliated corporation of Aetna
Services, Inc. should not be the
investment adviser of the Series.
IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be executed in
duplicate by their respective officers on
the 25th day of March, 1998.
Aeltus Investment Management, Inc.
Attest : /s/Xxxxx Xxxxxxxxxx By: /s/Xxxx X. Xxx
Name: Xxxxx Xxxxxxxxxx Name: Xxxx X. Xxx
Title: Assistant Secretary Title: President
Aetna GET Fund,
on behalf of its Series C
Attest: /s/XxXxx X. Xxxxxxxxx By: /s/J. Xxxxx Xxx
Name: XxXxx X. Xxxxxxxxx Name: J. Xxxxx Xxx
Title: Assistant Secretary Title: President
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