Common use of Appointment of Portfolio Manager Clause in Contracts

Appointment of Portfolio Manager. The Trust hereby retains Portfolio Manager to provide the investment services set forth herein and Portfolio Manager agrees to accept such appointment. The Portfolio Manager will treat the Trust as a professional client under the FCA Rules and accord the Trust the relevant protections associated with this classification. In carrying out its responsibilities under this Agreement, the Portfolio Manager shall at all times act in accordance with the investment objectives, policies and restrictions applicable to the Portfolio as set forth in the then current Registration Statement of the Trust, applicable provisions of the Investment Company Act and the rules and regulations promulgated under the Investment Company Act and other applicable federal securities laws. To enable the Portfolio Manager to comply with its obligations the Trust will provide the Portfolio Manager with the current Registration Statement in force from time to time.