Directed Fund definition

Directed Fund means each portion of the Trust subject to the discretionary management and control of an Asset Manager other than the Trustee. If more than one Directed Fund is established under this Trust Agreement, "Directed Fund" shall also mean the Directed Fund subject to the management and control of a particular Asset Manager, as the context may require.

Directed Fund shall also mean the Directed Fund subject to the management and control of a particular Asset Manager, as the context may require.

Directed Fund means any Investment Account, or part thereof, subject to the discretionary management and control of the Named Fiduciary or any Investment Manager.

Examples of Directed Fund in a sentence

• No such transactions shall be executed through the facilities of the Trustee except where the Trustee shall make available its facilities solely for the purpose of temporary investment of cash reserves of a Directed Fund.

• Any Investment Vehicle, or interest therein, acquired by or transferred to the Trustee upon the directions of the Asset Manager shall be allocated to a designated Directed Fund, and the Trustee's duties and responsibilities under this Agreement shall not be increased or otherwise affected thereby.

• In addition, the Trustee shall not be liable for the default of any Person with respect to any Investment Vehicle or any investment in a Directed Fund or for the form, genuineness, validity, sufficiency or effect of any document executed by, delivered to or held by it for any Directed Fund on account of such investment, or if, for any reason (other than the negligence or willful misconduct of the Trustee) any rights of the Trust therein shall lapse or shall become unenforceable or worthless.

• All transactions of any kind or nature in or from a Directed Fund shall be made upon such terms and conditions and from or through such brokers, dealers and principals and other agents as the Asset Manager shall direct.

• The Trustee shall be fully protected in acting or omitting to act in accordance with or in the absence of the written directions of the Investment Manager or of the Company respecting any Company Directed Fund and shall be under no liability for any loss of any kind which may result by reason of any action taken or omitted by it in good faith in accordance with any such direction or by reason of inaction in the absence of such written directions.

More Definitions of Directed Fund

Directed Fund means any Investment Fund, or part thereof, subject to the discretionary management and control of the Named Fiduciary or any Investment Manager, other than the Trustee.

Directed Fund means any Investment Fund, or part thereof, subject to the discretionary management and control of the Company or any Investment Manager.

Directed Fund means the entire Fund or shall refer to any part thereof which is subject to the discretionary management and control of the Board of Directors and either the Committee or any other Asset Manager other than the Trustee, as the case may be.

Directed Fund means an Investment Account, or part thereof, subject to the discretionary management and control of the Company or any Investment Manager.

Directed Fund means any Fund or Investment Account

Directed Fund means ANY INVESTMENT FUND, OR PART THEREOF, SUBJECT TO THE DISCRETIONARY MANAGEMENT AND CONTROL OF THE COMPANY OR ADMINISTRATIVE COMMITTEE OR ANY INVESTMENT MANAGER, OTHER THAN THE TRUSTEE. (O) "DISCRETIONARY FUND" SHALL MEAN ANY INVESTMENT FUND, OR PART THEREOF, SUBJECT TO THE DISCRETIONARY MANAGEMENT AND CONTROL OF THE TRUSTEE. (P) "ERISA" SHALL MEAN THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED FROM TIME TO TIME. (Q) "GENERAL TRUST" SHALL MEAN THE BT PYRAMID TRUST CREATED BY BANKERS TRUST COMPANY UNDER DECLARATION OF TRUST EFFECTIVE JUNE 30, 1991, AS HERETOFORE OR HEREAFTER AMENDED. (R) "INSURANCE CONTRACT" SHALL MEAN ANY CONTRACT OR POLICY (INCLUDING ANY ANNUITY CONTRACT) OF ANY KIND ISSUED BY AN INSURANCE COMPANY, WHETHER OR NOT PROVIDING FOR THE ALLOCATION OF AMOUNTS RECEIVED BY THE INSURANCE COMPANY THEREUNDER SOLELY TO THE GENERAL ACCOUNT OR SOLELY TO ONE OR MORE SEPARATE ACCOUNTS (INCLUDING SEPARATE ACCOUNTS MAINTAINED FOR THE COLLECTIVE INVESTMENT OF QUALIFIED RETIREMENT PLANS), OR A COMBINATION THEREOF, AND WHETHER OR NOT ANY SUCH ALLOCATION MAY BE MADE IN THE DISCRETION OF THE INSURANCE COMPANY.

Directed Fund. The term "Investment Manager" shall also refer to BNY (New York) in its capacity as an investment manager hereunder. BNY (New York)'s appointment as an investment manager shall not be effective unless and until (i) it is duly appointed by the Named Fiduciary in writing and (ii) it provides the Named Fiduciary with a written acceptance of such appointment and an acknowledgement that it is a fiduciary for such Fund under Section 3(21) of the Act. In the event the Investment Manager of any Directed Fund resigns or is removed, the Named Fiduciary shall promptly notify the Master Trustee of such resignation or removal and of the appointment of a successor to such Investment Manager. Upon resignation or removal of an Investment Manager neither the Master Trustee nor BNY (New York) shall have or be deemed to have any responsibility to manage and control any asset held in the Directed Fund of such former Investment Manager, except as set out in the sentence immediately following. If an Investment Committee has been appointed, the Master Trustee shall treat such Fund as managed by the Investment Committee pending notification from the Named Fiduciary of the appointment of a different successor to the former Investment Manager; if no Investment Committee has been appointed and if no notification of the appointment of such a successor is received within seven days of notification to the Master Trustee of the former Investment Manager's resignation or removal, BNY (New York) shall be deemed appointed as investment manager and thereafter treat such Directed Fund as a Discretionary Fund unless and until it receives other instructions from the Named Fiduciary as to the investment of such Fund, and BNY (New York) shall be entitled to additional compensation in accordance with its regular fee schedule for discretionary accounts.