Common use of Delegation of Tasks Clause in Contracts

Delegation of Tasks. In compliance with the provisions of the UCITS Act and the UCITS Ordinance, the Management Company may delegate some of its tasks to third parties for the purpose of an efficient business management. The specifics of any such delegation will be set forth in an agreement between the Management Company and the relevant third party. The Management Company shall ensure that the selection of the delegate(s) shall be implemented with due care and diligence and appointment of the delegate shall be carried out by the Management Company acting independently. The Management Company shall monitor the performance of the service providers and the financial status of trading counterparties. The Management Company shall monitor the performance of any service provider appointed by it.