Common use of PROHIBITED PRACTICES AND SECURITIES Clause in Contracts

PROHIBITED PRACTICES AND SECURITIES. A. Acquisition of securities that would cause the average maturity of the portfolio to exceed 90 days. The calculation of the average portfolio maturity will be determined by Rule 2a-7. B. Acquisition of securities of an issuer (other than obligations of the U.S. government, its agencies, and instrumentalities) that would cause more than 5% of the portfolio to be invested in such securities. C. Acquisition of securities that would cause exposure to a single industry to exceed 25% of the portfolio at the time of purchase with the exception of the financial services industry. This restriction does not apply to investment in obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities and bank instruments such as certificates of deposit, bankers acceptances, time deposits, and bank repurchase agreements.

PROHIBITED PRACTICES AND SECURITIES. A. Acquisition of securities that would cause the average maturity of the portfolio to exceed 90 days. The calculation of the average portfolio maturity will be determined by Rule 2a-7. B. Acquisition of securities of an issuer (other than obligations of the U.S. government, its agencies, and instrumentalities) that would cause more than 5% of the portfolio to be invested in such securities. C. Acquisition of securities that would cause exposure to a single industry to exceed 25% of the portfolio at the time of purchase (with the exception of the financial services industry). This restriction does not apply to investment in obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities and bank instruments such as certificates of deposit, bankers acceptances, time deposits, and bank repurchase agreements. D. Short sales. E. Options.