Common use of Asset Allocation Clause in Contracts

Asset Allocation. A committee (the "Allocation Committee', consisting of member determined by the Sub-Adviser and Furman Selz, shall allocate the assets of each of the Funds ▇▇▇ ▇▇▇▇▇ ▇he Sub-Adviser and Furman Selz act as co-sub-advisers (collectively, the "Co-Su▇-▇▇▇▇▇▇▇▇") among the Co-Sub-Advisers. 2. The following paragraph shall replace the first paragraph of paragraph 2 in its entirety: Subject always to the supervision of the Investment Adviser and the Trust's Board of Trustees, the Sub-Adviser will furnish an investment program in respect of, and make investment decisions for, the portions of the Funds allocated to it by the Investment Adviser or, with regard to the Funds to be advised by the Co-Sub-Advisers as indicated on Schedule A, the portions of the Funds allocated to it by the Allocation Committee. The Sub-Adviser will place all orders for the purchase and sale of securities for such portions of the Funds. In the performance of its duties, the Sub-Adviser will comply with the provisions of the Trust's organizational documentation, and the respective stated investment objective, policies and restrictions of the Funds, as amended, will use its best efforts to safeguard and promote the welfare of the Funds, and will comply with other policies which the Trust's Board of Trustees or the Investment Adviser, as the case may be, may from time to time determine and communicate to the Sub-Adviser. 3. The following sentence shall be inserted after the first full sentence of paragraph 7: With regard to certain of the Funds indicated on Schedule A for which the CoSub-Advisers provide co-sub-advisory services, the Co-Sub-Advisers shall split such fee amongst each other in a proportion that they shall jointly determine.

Asset Allocation. A committee (the "Allocation Committee', consisting of member determined by the Sub-Adviser and Furman Selz, ") shall allocate the assets of each of the Funds ▇▇▇ ▇▇▇▇▇ ▇he for which the Sub-Adviser and Furman Selz CRA Real Estate Securities, L.P. act as co-sub-advisers (collectively, the "Co-Su▇Sub-▇▇▇▇▇▇▇▇Advisers") among the Co-Sub-Advisers. The Allocation Committee shall consist of such persons jointly agreed upon by the Co-Sub-Advisers. 2. The following paragraph shall replace the first paragraph of paragraph 2 in its entirety: Subject always to the supervision of the Investment Adviser and the Trust's Board of Trustees, the Sub-Adviser will furnish an investment program in respect of, and make investment decisions for, the portions of the Funds allocated to it by the Investment Adviser or, with regard to the Funds to be advised managed by the Co-Sub-Advisers as indicated on Schedule A, the portions of the Funds allocated to it by the Allocation Committee. The Sub-Adviser will place all orders for the purchase and sale of securities for such portions of the Funds. In the performance of its duties, the Sub-Adviser will comply with the provisions of the Trust's organizational documentation, and the respective stated investment objective, policies and restrictions of the Funds, as amended, will use its best efforts to safeguard and promote the welfare of the Funds, and will comply with other policies which the Trust's Board of Trustees or the Investment Adviser, as the case may be, may from time to time determine and communicate to the Sub-Adviser. 3. The following sentence shall be inserted after the first full sentence of paragraph 7: With regard to certain of the Funds indicated on Schedule A for which the CoSubCo-Sub-Advisers provide co-sub-advisory services, the Co-Investment Adviser will split the fee equally between the Sub-Advisers shall split such fee amongst each other in a proportion that they shall jointly determine.Adviser and CRA Real Estate Securities, L.P.

Asset Allocation. A committee (the "Allocation Committee'"), consisting of member determined by the Sub-Adviser and Furman SelzDelta Asset Management ("Delta"), shall allocate the assets of each of the Funds ▇▇▇ ▇▇▇▇▇ ▇he for which the Sub-Adviser and Furman Selz Delta act as co-sub-advisers (collectively, the "Co-Su▇Sub-▇▇▇▇▇▇▇▇Advisers") among the Co-Sub-Advisers. 2. The following paragraph shall replace the first paragraph of paragraph 2 in its entirety: Subject always to the supervision of the Investment Adviser and the Trust's Board of Trustees, the Sub-Adviser will furnish an investment program in respect of, and make investment decisions for, the portions of the Funds allocated to it by the Investment Adviser or, with regard to the Funds to be advised managed by the Co-Sub-Advisers as indicated on Schedule A, the portions of the Funds allocated to it by the Allocation Committee. The Sub-Adviser will place all orders for the purchase and sale of securities for such portions of the Funds. In the performance of its duties, the Sub-Adviser will comply with the provisions of the Trust's organizational documentation, and the respective stated investment objective, policies and restrictions of the Funds, as amended, will use its best efforts to safeguard and promote the welfare of the Funds, and will comply with other policies which the Trust's Board of Trustees or the Investment Adviser, as the case may be, may from time to time determine and communicate to the Sub-Adviser. 3. The following sentence shall be inserted after the first full sentence of paragraph 7: With regard to certain of the Funds indicated on Schedule A for which the CoSubCo-Sub-Advisers provide co-sub-advisory services, the Co-Sub-Advisers shall split such fee amongst each other in a proportion that they shall jointly determine.