Duties of Sub Advisor. In carrying out its obligations under Section 1 hereof, the Sub-Advisor shall:
(a) provide the Fund with such executive, administrative and clerical services as are deemed advisable by the Fund's Board of Directors;
(b) determine which issuers and securities shall be represented in the Fund's portfolio and regularly report thereon to the Fund's Board of Directors;
(c) formulate and implement continuing programs for the purchases and sales of the securities of such issuers and regularly report thereon to the Fund's Board of Directors;
(d) take, on behalf of the Fund, all actions which appear to the Fund necessary to carry into effect such purchase and sale programs as aforesaid, including the placing of orders for the purchase and sale of securities of the Fund; and
(e) obtain and evaluate pertinent information about significant developments and economic, statistical and financial data, domestic, foreign or otherwise, whether affecting the economy generally or the Fund, and whether concerning the individual issuers whose securities are included in the Fund's portfolio or the activities in which they engage, or with respect to securities which the Advisor considers desirable for inclusion in the Fund's portfolio.
Duties of Sub Advisor. The Sub-Advisor is hereby employed and authorized to conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of the assets in the Sub-Advisory Portfolio. In connection therewith, the Sub-Advisor will (a) make investment decisions for the Sub-Advisory Portfolio; (b) place purchase and sale orders for portfolio transactions in the Sub-Advisory Portfolio; and (c) employ professional portfolio managers and securities analysts to provide research services relating to the Sub-Advisory Portfolio. Subject to the supervision of the Board and the Advisor, the Sub-Advisor will manage the assets in the Sub-Advisory Portfolio in accordance with (a) the Fund's investment objective(s), policies and restrictions stated in the Prospectus, the SAI and the Charter Documents (as such terms are defined below), (b) the Guidelines (as such term is defined below), and (c) applicable laws and regulations. In managing the Sub-Advisory Portfolio, the Sub-Advisor will not consider any other securities, cash or other investment the Fund owns. The duties of the Sub-Advisor with respect to the Sub-Advisory Portfolio shall be confined to those set forth herein. The Advisor has furnished to the Sub-Advisor the Fund's compliance procedures pursuant to Rules 10f-3, 17a-7, and 17e-1 under the Investment Company Act of 1940, as amended (the "1940 Act") (collectively, the "Compliance Procedures"), the Articles of Incorporation and Bylaws of FAIF, each as amended to date (the "Charter Documents"), the currently effective prospectus (the "Prospectus") and statement of additional information (the "SAI") of the Fund, the resolution of the Board approving the form of this Agreement, the resolution of the Board selecting the Advisor as investment advisor to the Fund and approving the form of the Advisory Agreement, the resolution adopted by the initial shareholder of the Fund approving the form of Advisory Agreement, and the Advisory Agreement. The Advisor agrees, on an ongoing basis, to provide to the Sub-Advisor, as promptly as practicable, copies of all amendments and supplements to the Compliance Procedures, the Prospectus and the SAI and amendments to the Charter Documents. The Advisor has furnished to the Sub-Advisor all written guidelines (the "Guidelines") setting forth additional operating policies and procedures, including any limitations on the types of securities and other investment products in which the Fund is permitted to invest or on investme...
Duties of Sub Advisor. In carrying out its obligations under Section 1 hereof, the Sub-Advisor shall, subject to overall supervision by the Advisor:
(a) provide the Fund with such executive, administrative and clerical services as are deemed advisable by the Fund's Board of Directors;
(b) determine which issuers and securities shall be represented in the Fund's portfolio and regularly report thereon to the Fund's Board of Directors;
(c) formulate and implement continuing programs for the purchases and sales of the securities of such issuers and regularly report thereon to the Fund's Board of Directors;
(d) take, on behalf of the Fund, all actions which appear to the Fund necessary to carry into effect such purchase and sale programs as aforesaid, including the placing of orders for the purchase and sale of securities of the Fund;
(e) provide the Board of Directors of the Fund on a regular basis with financial reports with respect to the Fund's portfolio investments and analyses of the Fund's operations and the operations of comparable investment companies; and
(f) obtain and evaluate pertinent information about significant developments and economic, statistical and financial data, domestic, foreign or otherwise, whether affecting the economy generally or the Fund, and whether concerning the individual issuers whose securities are included in the Fund's portfolio or the activities in which they engage, or with respect to securities which the Advisor considers desirable for inclusion in the Fund's portfolio.
Duties of Sub Advisor. Sub-Advisor will provide the following services and undertake the following duties:
Duties of Sub Advisor. The Sub-Advisor shall perform its sub-advisory services in accordance with the obligations of the Manager under the Company Agreement and in accordance with its obligations hereunder.
Duties of Sub Advisor. With respect to the Allocated Assets only, the Sub-Advisor, at its own expense, shall furnish the following services and facilities to the Trust:
Duties of Sub Advisor. The Sub-Advisor shall manage the investment and reinvestment of the Fund's assets and determine in its discretion, the securities and other property to be purchased or sold and the portion of the Fund's assets to retain in cash. The Sub-Advisor shall review all proxy solicitation materials and shall exercise any voting rights associated with securities comprising the Fund's assets in the best interests of the Fund and its shareholders. The Sub-Advisor shall provide the Investment Manager and the Fund with records concerning the Sub-Advisor's activities that the Investment Manager is required to maintain, and to render regular reports to the Investment Manager concerning the Sub-Advisor's discharge of the foregoing responsibilities. The Sub-Advisor shall discharge the foregoing responsibilities subject to the supervision of the Investment Manager and the Company's Board of Trustees and their agents, including the officers of the Company and the Investment Manager, and in compliance with (i) such policies as the Investment Manager may from time to time establish and communicate to the Sub-Advisor, (ii) the objectives, policies, and limitations for the Fund set forth in the Prospectus and Statement of Additional Information as those documents may from time to time be amended or supplemented from time to time and delivered to the Sub-Advisor (the "Prospectus and Statement of Additional Information"), (iii) the Declaration of Trust of the Company, and (iv) applicable laws and regulations including the Investment Company Act of 1940 (the "1940 Act") and the Internal Revenue Code of 1986, as both may be amended from time to time. The Sub-Advisor agrees to perform such duties at its own expense and to provide the office space, furnishings and equipment and the personnel required by it to perform the services on the terms and for the compensation provided herein. The Sub-Advisor will not, however, pay for the cost of securities, commodities, and other investments (including brokerage commissions and other transaction charges, if any) purchased or sold for the Fund.
Duties of Sub Advisor. In carrying out its obligations under Section I hereof, the Sub-Advisor shall:
(a) provide the Fund with such executive, administrative and clerical services as are deemed advisable by the Fund's Board of Directors;
(b) determine which issuers and securities shall be represented in the Fund's portfolio and regularly report thereon to the Fund's Board of Directors;
(c) formulate and implement continuing programs for the purchases and sales of the securities of such issuers and regularly report thereon to the Fund's Board of Directors;
(d) take, on behalf of the Fund, all actions which appear to the Fund necessary to carry into effect such purchase and sale programs as aforesaid, including the placing of orders for the purchase and sale of securities of the Fund; and
(e) obtain and evaluate pertinent information about significant developments and economic, statistical and financial data, domestic, foreign or otherwise, whether affecting the economy generally or the Fund, and whether concerning the individual issuers whose securities are included in the Fund's portfolio or the activities in which they engage, or with respect to securities which the Advisor considers desirable for inclusion in the Fund's portfolio.
(f) Subadvisor agrees that it will not consult with any other subadvisor engaged by Advisor with respect to transactions in securities or other assets concerning a Fund or another Subadvised Fund, except to the extent permitted by the Rules.
Duties of Sub Advisor. In carrying out its obligations under Section 1 hereof, the Sub-Advisor shall:
(a) provide the Series with such executive and clerical services as are deemed advisable by the Board;
(b) determine which issuers and securities shall be represented in the each Series' portfolio and regularly report thereon to the Fund's Board;
(c) formulate and implement continuing programs for the purchases and sales of securities and regularly report thereon to the Fund's Board;
(d) take, on behalf of the Series, all actions which appear necessary to carry into effect such purchase and sale programs as aforesaid, including the placing of orders for each Series' purchase and sale of securities;
(e) obtain and evaluate pertinent information about significant developments and economic, statistical and financial data, domestic, foreign or otherwise, whether affecting the economy generally or each Series, and whether concerning the individual issuers whose securities are included in each Series' portfolio or the activities in which they engage, or with respect to securities which the Advisor considers desirable for inclusion in each Series' portfolio; and
(f) provide the Advisor and the Fund with records concerning the Sub-Advisor's activities which the Fund is required to maintain;
(g) render regular reports to the Advisor and the Fund's officers and directors concerning the Sub-Advisor's discharge of its responsibilities;
(h) discharge the foregoing responsibilities subject to the control of the Board of the Fund and the overall supervision of the Advisor and in compliance with such policies as the Directors or the Advisor may from time to time establish, subject always to the provisions of the Fund's Articles of Incorporation and By-Laws, and the 1940 Act, and in compliance with the objectives, policies, and limitations for each Series as set forth in each Series' Prospectus and statement of additional information, as amended from time to time, and applicable laws and regulations. Subject to the provisions of this Agreement, the duties of the Sub-Advisor, the portion of portfolio assets of each Series that the Sub-Advisor shall manage and the fees to be paid to the Sub-Advisor by the Advisor under and pursuant to this Agreement may be adjusted from time to time by the Advisor, with and upon the approval of the members of the Fund's Board who are not "interested persons," as defined in the 1940 Act.
Duties of Sub Advisor. (a) The Sub-Advisor is hereby authorized and directed and hereby agrees, subject to the stated investment objectives and policies of the Fund as set forth in the Fund's Prospectus (as defined below) and subject to the supervision of the Advisor and the Board of Trustees of the Trust, (i) to develop, recommend and implement such investment program and strategy for the Fund as may from time to time under the circumstances appears most appropriate to the achievement of the investment objective of the Fund as stated in the aforesaid Prospectus, (ii) to provide research and analysis relative to the investment program and investments of the Fund, (iii) to determine which securities should be purchased and sold and what portion of the assets of the Fund should be held in cash or cash equivalents, and (iv) to monitor on a continuing basis the performance of the portfolio securities of the Fund. The Sub-Advisor will advise the Trust's custodian and the Advisor on a prompt basis of each purchase and sale of a portfolio security specifying the name of the issuer, the description and amount or number of shares of the security purchased, the market price, commission and gross or net price, trade date, settlement date and identity of the effecting broker or dealer; and will review the accuracy of the pricing of portfolio securities in accordance with Trust procedures. From time to time, as the Trustees of the Trust or the Advisor may reasonably request, the Sub-Advisor will furnish to the Trust's officers and to each of its Trustees reports on portfolio transactions and reports on issues of securities held in the portfolio, all in such detail as the Trust or the Advisor may reasonably request. The Sub- Advisor will also inform the Trust's officers and Trustees on a current basis of changes in investment strategy or tactics. The Sub-Advisor will make its officers and employees available to meet with the Trust's officers and Trustees on due notice to review the investments and investment program of the Fund in the light of current and prospective economic and market conditions. The Sub-Advisor shall place all orders for the purchase and sale of portfolio securities for the account of the Fund with brokers or dealers selected by the Sub-Advisor, although the Trust will pay the actual brokerage commissions and any transfer taxes with respect to transactions in the portfolio securities of the Trust. The Sub-Advisor is authorized to submit any such order collectively with ord...
