FORM N-SAR File No. 811-05038 Semi-Annual Period Ended June 30, 2017Clearwater Investment Trust • August 22nd, 2017
77Q1(e): (i) Investment Subadvisory Agreement, dated March 1, 2017, by and among Clearwater Investment Trust (the “Trust”), on behalf of the Clearwater Small Companies Fund, Clearwater Management Co., Inc. (the “Manager”) and Keeley-Teton Advisors, LLC (“Keeley-Teton”) is contained herein by reference to the Trust’s Post-Effective Amendment No. 50 to its Registration Statement, as filed with the Securities and Exchange Commission (“SEC”) on April 28, 2017 (SEC Accession No. 0000897101-17-000489).
