Commingled Vehicles Sample Clauses

Commingled Vehicles. In addition, for purposes of these guidelines, shares of a money market mutual fund registered with the Securities and Exchange Commission as an investment company under the Investment Company Act of 1940, as amended, which invest solely in securities issued or guaranteed by the United States Government or its agencies and repurchase agreements collateralized by such securities, shall be: (i) permissible investments, (ii) deemed to have a “Final Maturity” of one day for purposes of the Maturity Guidelines in paragraph E, and (iii) not subject to the Quality Guidelines in paragraph G. If the money market mutual fund is advised by an affiliate of JPMorgan Chase & Co., such purchase may be made only in accordance with, and to the extent permitted by, the purchasing fund’s registration statement and an exemptive order issued by the SEC.

Commingled Vehicles. In addition, for purposes of these guidelines, (a) shares of a money market mutual fund registered with the Securities and Exchange Commission as an investment company under the Investment Company Act of 1940, as amended, (b) shares of money market mutual funds and interest in offshore commingled vehicles rated at least A- by any one NRSRO, and (c) units in a short term collective investment fund managed by the Agent shall be: (i) permissible investments, (ii) subject to no limitation under the Concentration Guidelines in paragraph C, (iii) deemed to have a “Final Maturity” of one day for purposes of the Maturity Guidelines in paragraph D, and (iv) not subject to the Quality Guidelines in paragraph F.

Commingled Vehicles. Investments in mutual funds, hedge funds and other alternative investments, and other commingled investment vehicles (including AllianceBernstein proprietary funds) is permitted, although it is understood that assets invested in such commingled vehicles will be managed solely in accordance with the investment policies, procedures and guidelines set forth in the prospectus or other relevant document for such commingled vehicle, notwithstanding anything to the contrary set forth in this Statement of Investment Objectives. ▇▇▇▇▇▇▇▇▇ will rebalance among the above asset categories solely in accordance with its own internal rebalancing rules in effect from time to time which may result in portfolio exposure to an asset category that may be above or below the above stated maximum/minimum target range. DRAFT Asset classes in the Underlying Portfolio will be rebalanced in accordance with the standard rebalancing process described above. However, if a short-term modification to the overall asset allocation is deemed warranted by the Dynamic Asset Allocation process, changes will be made within the DAA Overlay Portfolio. In addition, the DAA Overlay Portfolio will be rebalanced against the Underlying Portfolio so that it remains a consistent percentage of the overall asset allocation. In the case of all our rebalancing activities, we may, from time to time, change our rebalancing bands based on market conditions. The investment manager will provide performance reports as required by us. Reports will include, at a minimum, daily valuation and be available to us via the manager's website and/or in hard copy. Monthly reporting will be supplied either via the web or in hard copy. Meetings will be held with the manager at our request. Detailed tax reporting will be produced by the manager and sent to our accountants as necessary. Any changes in our tax situation and rates will be immediately reported to the manager. We expect the purchase and sale of our securities to be conducted in a manner designed to receive the combination of best price and execution. We will review these guidelines to determine their continued applicability on an annual basis or as we deem necessary. The primary contact representing Federated is the current General Manager, who can be reached at the following address: This statement of Investment Objectives is adopted this 10th day of June , DRAFT 2015 by the Board of Directors of Federated on whose behalf the President of the Board has signed belo...

Commingled Vehicles. In addition, for purposes of these guidelines, shares of a money market mutual fund registered with the Securities and Exchange Commission as an investment company under the Investment Company Act of 1940, as amended, which invest solely in securities issued or guaranteed by the United States Government or its agencies and repurchase agreements collateralized by such securities, shall be: (i) permissible investments, and (ii) deemed to have a “Final Maturity” of one day for purposes of the Maturity Guidelines in paragraph E. If the money market mutual fund is advised by an affiliate of JPMorgan Chase & Co., such purchase may be made only in accordance with, and to the extent permitted by, the purchasing fund’s registration statement and an exemptive order issued by the SEC.

Commingled Vehicles. In addition, for purposes of these guidelines, (a) shares of a money market mutual fund registered with the Securities and Exchange Commission as an investment company under the Investment Company Act of 1940, as amended (the "1940 Act"), and (b) units in a short term collective investment fund managed by The Chase Manhattan Bank: (i) shall be permissible investments, (ii) shall not be subject to any limitation under the Concentration Guidelines in paragraph E, (iii) shall be deemed to have a Final Maturity of one day for purposes of the Maturity Guidelines in paragraph F and (iv) shall be deemed to meet the applicable Quality Guidelines in paragraph H.