Common use of Portfolio Management Clause in Contracts

Portfolio Management. Subject to supervision by Manager and the Funds' Board of Trustees (the "Board"), Subadviser shall manage the investment operations and the composition of that portion of assets of each of the Funds which is allocated to Subadviser from time to time by Manager (which portion may include any or all of the Funds' assets), including the purchase, retention, and disposition thereof, in accordance with the Funds' investment objectives, policies, and restrictions as stated in the Funds' then current registration statement filed with the Securities and Exchange Commission (the "SEC"), as from time to time amended (the "Registration Statement"), and subject to the following understandings:

Portfolio Management. Subject to supervision by Manager and the Funds' ’ Board of Trustees (the "Board"), Subadviser shall manage the investment operations and the composition of that portion of assets of each of the Funds which is allocated to Subadviser from time to time by Manager (which portion may include any or all of the Funds' assets), including the purchase, retention, and disposition thereof, in accordance with the Funds' investment objectives, policies, and restrictions as stated in the Funds' ’ then current registration statement filed with the Securities and Exchange Commission (the "“SEC"”), as from time to time amended (the "“Registration Statement"”), and subject to the following understandings:

Portfolio Management. Subject to supervision by Manager and the Funds' Board of Trustees (the "Board"), Subadviser shall manage the investment operations and the composition of that portion of assets of each of the Funds which is allocated to Subadviser from time to time by Manager (the "Allocated Portion," which portion may include any or all of the Funds' assets), including the purchase, retention, and disposition thereof, in accordance with the Funds' investment objectives, policies, and restrictions as stated in the Funds' then current registration statement filed with the Securities and Exchange Commission (the "SEC"), as from time to time amended (the "Registration Statement"), and subject to the following understandings:

Portfolio Management. Subject to supervision by Manager and the Funds' Fund's Board of Trustees (the "Board"), Subadviser shall manage the investment operations investments and the composition of that portion of assets of each of the Funds Fund which is allocated to Subadviser from time to time by Manager (which portion may include any or all of the Funds' Fund's assets), including the purchase, retention, and disposition thereof, in accordance with the Funds' Fund's investment objectives, policies, and restrictions as stated in the Funds' Fund's then current registration statement filed with the Securities and Exchange Commission (the "SEC"), as from time to time amended (the "Registration Statement"), and subject to the following understandings:

Portfolio Management. Subject to supervision by Manager and the Funds' Board of Trustees (the "Board"), Subadviser shall manage the investment operations investments and the composition of that portion of assets of each of the Funds which is allocated to Subadviser from time to time by Manager (which portion may include any or all of the Funds' assets), including the purchase, retention, and disposition thereof, in accordance with the Funds' investment objectives, policies, and restrictions as stated in the Funds' then current registration statement filed with the Securities and Exchange Commission (the "SEC"), as from time to time amended (the "Registration Statement"), provided that Subadviser receives a copy thereof pursuant to Section 3 below, and subject to the following understandings: