Common use of Services as Investment Advisor Clause in Contracts

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, GW Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisers Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the Company's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, GW Advisors will, among other things, (a) participate in the formulation of the Fund's investment policies, (b) analyze economic trends affecting the Fund, (c) monitor the expenses incurred by the Fund, (d) monitor the brokerage and research services (as those terms are defined in Section 28(e) of the Securities Act of 1934) that are provided to the Fund and may be considered by the Fund's investment sub-adviser in selecting brokers or dealers to execute particular transactions and (e) monitor and evaluate the services provided by the Fund's investment sub-adviser under its investment sub-advisory agreement, including, without limitation, the sub-advisor's adherence to the Fund's investment objective(s) and policies and the Fund's investment performance.

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, GW Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisers Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the CompanyFund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, GW Advisors will, among other things, (a) participate in the formulation of the Fund's investment policies, (b) analyze economic trends affecting the Fund, (c) monitor the expenses incurred by the Fund, (d) monitor the brokerage and research services (as those terms are defined in Section 28(e) of the Securities Act of 1934) that are provided to the Fund and may be considered by the Fund's investment sub-adviser advisor in selecting brokers or dealers to execute particular transactions and (e) monitor and evaluate the services provided by the Fund's investment sub-adviser advisor under its investment sub-advisory agreement, including, without limitation, the sub-advisor's adherence to the Fund's investment objective(s) and policies and the Fund's investment performance.

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, GW Sierra Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisers Advisors Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the CompanyFund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, GW Sierra Advisors will, among other things, (a) participate in the formulation of the Fund's investment policies, (b) analyze economic trends affecting the Fund, (c) monitor the expenses incurred by the Fund, (d) monitor the brokerage and research services (as those terms are defined in Section 28(e) of the Securities Act of 1934, as amended) that are provided to the Fund and may be considered by the Fund's investment sub-adviser advisor in selecting brokers or dealers to execute particular transactions and (e) monitor and evaluate the services provided by the Fund's investment sub-adviser advisor under its investment sub-advisory agreement, including, without limitation, the sub-advisor's adherence to the Fund's investment objective(s) and policies and the Fund's investment performance.

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, GW Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisers Act of 1940, as the same may from time to time be amended, and with the Fund's 2 investment objective(s) and policies as stated in the CompanyFund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, GW Advisors will, among other things, (a) participate in the formulation of the Fund's investment policies, (b) analyze economic trends affecting the Fund, (c) monitor the expenses incurred by the Fund, (d) monitor the brokerage and research services (as those terms are defined in Section 28(e) of the Securities Act of 1934) that are provided to the Fund and may be considered by the Fund's investment sub-adviser advisor in selecting brokers or dealers to execute particular transactions and (e) monitor and evaluate the services provided by the Fund's investment sub-adviser advisor under its investment sub-advisory agreement, including, without limitation, the sub-advisor's adherence to the Fund's investment objective(s) and policies and the Fund's investment performance.