Duties of Investment Adviser. In carrying out its obligation under paragraph 1 hereof, the Adviser shall:
Duties of Investment Adviser. Subject to the supervision of the Board of Directors of the Fund, the Investment Adviser shall manage the investment operations of the Fund and the composition of its portfolio, including the purchase, retention and disposition of securities, in accordance with the Fund's investment objectives and policies as stated in the Fund's Prospectus and Statement of Additional Information (as amended or supplemented from time to time) and subject to the following understandings:
Duties of Investment Adviser. The Investment Adviser agrees to perform the following services (the "Services") for the Fund:
Duties of Investment Adviser. The Fund employs the Investment Adviser to manage the investment and reinvestment of the assets of the Fund through investing substantially all of the Fund’s assets in Persimmon Growth Partners Fund, L.P., and to continuously review, supervise and (where appropriate) administer the investment program of the Fund, to determine in its discretion (where appropriate) the investments to be purchased or sold, to provide the Administrator and the Fund with records concerning the Investment Adviser’s activities which the Fund is required to maintain, and to render regular reports to the Administrator and to the Fund’s officers and Trustees concerning the Investment Adviser’s discharge of the foregoing responsibilities. The retention of a sub-adviser by the Investment Adviser shall not relieve the Investment Adviser of its responsibilities under this Agreement. The Investment Adviser shall discharge the foregoing responsibilities subject to the control of the Board of Trustees of the Fund and in compliance with such policies as the Board of Trustees may from time to time establish, and in compliance with the objectives, policies, and limitations of the Fund as set forth in the Offering Document and the Declaration of Trust, as each may be amended from time to time, and applicable laws and regulations. The Investment Adviser accepts such employment and agrees, at its own expense, to render the services and to provide the office space, furnishings and equipment and the personnel (including any sub-advisers) required by it to perform the services on the terms and for the compensation provided herein. The Investment Adviser 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 Investment Adviser. The Fund employs the Investment Adviser to manage the investment and reinvestment of the assets of the Fund, and to continuously review, supervise and (where appropriate) administer the investment program of the Fund, to determine in its discretion (where appropriate) the investments to be purchased or sold, to provide the Administrator and the Fund with records concerning the Investment Adviser’s activities which the Fund is required to maintain, and to render regular reports to the Administrator and to the Fund’s officers and Directors concerning the Investment Adviser’s discharge of the foregoing responsibilities. The retention of a sub-adviser by the Investment Adviser shall not relieve the Investment Adviser of its responsibilities under this Agreement. The Investment Adviser shall discharge the foregoing responsibilities subject to the control of the Board of Directors of the Fund and in compliance with such policies as the Board of Directors may from time to time establish, and in compliance with the objectives, policies, and limitations of the Fund as set forth in the Offering Document, as amended from time to time, and applicable laws and regulations. The Investment Adviser accepts such employment and agrees, at its own expense, to render the services and to provide the office space, furnishings and equipment and the personnel (including any sub-advisers) required by it to perform the services on the terms and for the compensation provided herein. The Investment Adviser 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 Investment Adviser. The Fund employs the Investment Adviser to manage the investment and reinvestment of the assets of the Fund, and to continuously review, supervise and (where appropriate) administer the investment program of the Fund, to determine in its discretion (where appropriate) the investments to be purchased or sold, to provide the Fund with records concerning the Investment Adviser’s activities which the Fund is required to maintain, and to render regular reports to the Fund’s officers and Trustees concerning the Investment Adviser’s discharge of the foregoing responsibilities. The retention of a sub-adviser by the Investment Adviser shall not relieve the Investment Adviser of its responsibilities under this Agreement. The Investment Adviser shall discharge the foregoing responsibilities subject to the control of the Board of Trustees of the Fund and in compliance with such policies as the Board of Trustees may from time to time establish, and in compliance with the objectives, policies, and limitations of the Fund as set forth in the prospectus, statement of additional information and the Declaration of Trust, as each may be amended from time to time, and applicable laws and regulations. The Investment Adviser accepts such employment and agrees, at its own expense, to render the services and to provide the office space, furnishings and equipment and the personnel (including any sub-advisers) required by it to perform the services on the terms and for the compensation provided herein. The Investment Adviser 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 Investment Adviser. In carrying out its obligation under paragraph 1 hereof, the Investment Adviser shall: (a) supervise all aspects of the Trust’s investment operations; (b) provide the Trust or obtain for it, and thereafter supervise, such executive, administrative, clerical and shareholder servicing services as are deemed advisable by the Sponsor; (c) determine what assets shall be represented in the Trust’s portfolio; and (d) take, on behalf of the Trust, all actions which appear to the Trust necessary to carry into effect such purchase and sale programs and supervisory functions as aforesaid, including the placing of orders for the purchase and sale of assets.
Duties of Investment Adviser. In carrying out its obligation under paragraph 1 hereof, the Investment Adviser shall, subject at all times to the policies and control of the Fund's Board of Directors/Trustees:
Duties of Investment Adviser. Investment Adviser shall consult with Sub-Adviser to assist Sub-Adviser in maintaining an overall portfolio composition for the Fund that is consistent with the Fund's investment strategy. Investment Adviser shall monitor the Fund's portfolio composition to ensure its compliance with this Agreement and its consistency with the investment objective and investment policies and restrictions of the Fund as recited in its confidential memorandum, as it may be amended from time to time.
Duties of Investment Adviser. The Investment Adviser shall manage the investment and reinvestment of the Fund's assets; continuously review, supervise, and administer the investment program of the Fund; determine in its discretion the securities to be purchased, retained, sold, pledged or loaned (and implement those decisions); determine in its discretion when, to what extent and under what terms the Fund shall engage in bank or other borrowing (and, together with the Fund's Administrator or such other parties s the Investment Adviser may select, implement those determinations); provide the Fund with records concerning the Investment Adviser's activities which the Fund is required to maintain; render regular reports to the Fund's officers and Directors concerning the Investment Adviser's discharge of the foregoing responsibilities; and supply the Fund's officers and Directors with all statistical information and reports reasonably required by them and reasonably available to the Investment Adviser. The Investment Adviser shall discharge the foregoing responsibilities subject to the control of the officers and the Directors of the Fund and in compliance with such policies as the Directors may from time to time establish, and in compliance with the objectives, policies, and limitations of the Fund set forth in the Fund's prospectus, as amended from time to time, and with all applicable laws and regulations. The Investment Adviser agrees, at its own expense, to render the services described herein and to provide the office space, furnishings and equipment and the personnel required by it to perform those services on the terms and for the compensation provided herein; provided that expenses for necessary services of parties other than the Investment Adviser rendered in connection with the activities described above shall be borne by those parties, or by the Fund, as appropriate. The Investment Adviser shall authorize and permit any of its officers, partners and employees, who may be elected as officers or Directors of the Fund, to serve in the capacities in which they are elected.
