The Portfolio. 3.1 The Portfolio will initially comprise the investments identified in Schedule 1 which the Client has placed or will forthwith place with CAAM. These investments may be further sub-allocated to funds as specified by the Client (each a “Fund”). A general description of the nature and risks of the investments that may be held in the Portfolio is included at Schedule 3. 3.2 The Client may add to the Portfolio by notifying CAAM of the investments it proposes to add and the date on which it is proposed they should be added. CAAM shall confirm receipt of such notice to the Client and the investments concerned shall be treated as added to the Portfolio on the date on which the Custodian confirms to CAAM it has received them and is authorised to accept CAAM’s instructions in respect of them. 3.3 The Client may at any time and from time to time notify CAAM that the Client wishes to withdraw any cash, securities or other assets from the Portfolio, subject always to fulfilling existing trading commitments. 3.4 Any income arising from the investments in the Portfolio shall be retained in, and shall form part of, the Portfolio unless otherwise notified by the Client.
Appears in 2 contracts
Sources: Discretionary Investment Management Agreement, Discretionary Investment Management Agreement (Max Capital Group Ltd.)