FORM N-SAR File No. 811-05038 Semi-Annual Period Ended June 30, 2015Clearwater Investment Trust • August 26th, 2015 • Minnesota
77Q1(e): (i) Subadvisory Agreement, dated February 3, 2015, by and among Clearwater Investment Trust (the “Trust”), on behalf of the Clearwater Core Equity Fund, Clearwater Management Co., Inc. (the “Manager”) and AQR Capital Management, LLC is contained herein by reference to the Trust’s Post-Effective Amendment No. 42 to its Registration Statement, as filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2015 (SEC Accession No. 0000897101-15-000255).
