Natixis Funds Trust II
National Union Fire Insurance Company of Pittsburgh, Pa.
A capital stock company
POLICY NUMBER: 01-417-77-87
REPLACEMENT OF POLICY NUMBER: 01-423-48-98
INVESTMENT COMPANY BLANKET BOND
DECLARATIONS:
| ITEM 1. |
Name of Insured (herein called Insured): |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
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| Principal Address: |
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399 BOYLSTON STREET BOSTON,
MA 02116 |
| ITEM 2. |
Bond Period: from 12:01 a.m. December 15, 2010 12:01 a.m. to December 15, 2011 the effective date of the termination or cancellation of this bond, standard
time at the Principal Address as to each of said dates. |
| ITEM 3. |
Limit of Liability - Subject to Sections 9, 10 and 12 hereof, |
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Single Loss Limit of Liability |
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Single Loss
Deductible |
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| Insuring Agreement A (Fidelity)- |
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$25,000,000 part
of $38,000,000 |
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NIL |
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| Insuring Agreement B (Audit Expense)- |
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$ 250,000 |
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$ |
25,000 |
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| Insuring Agreement C (On Premises)- |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement D (In Transit)- |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement E (Forgery or Alteration)- |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement F (Securities)- |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement G (Counterfeit Currency)- |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement H (Stop Payment)- |
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$500,000 |
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$ |
25,000 |
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| Insuring Agreement I (Uncollectible Items of Deposit)- |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Additional Coverages: |
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| Insuring Agreement J Computer Systems |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement K Unauthorized :Signatures |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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| Insuring Agreement L Telefacsimile Transfer Fraud |
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$25,000,000 part
of $38,000,000 |
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$ |
25,000 |
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If “Not
Covered” is inserted above opposite any specified Insuring Agreement or Coverage, such Insuring Agreement or Coverage and any other reference thereto in this bond shall be deemed to be deleted therefrom.
| ITEM 4. |
Offices or Premises Covered-Offices acquired or established subsequent to the effective date of this bond are covered according to the terms of General Agreement A. All
the Insured’s offices or premises in existence at the time this bond becomes effective are covered under this bond except the offices or premises located as follows: No Exceptions |
| ITEM 5. |
The liability of the Underwriter is subject to the terms of the following riders attached thereto: Endorsement #1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11
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| ITEM 6. |
The Insured by the acceptance of this bond gives to the Underwriter terminating or canceling prior bond(s) or policy(ies) No.(s) 01-423-48-98 such termination or
cancellation to be effective as of the time this bond becomes effective. |
PREMIUM: $73,324
IN WITNESS WHEREOF, the Insurer has caused this policy to be signed on the Declarations Page by its
President, a Secretary and a duly authorized representative of the Insurer.
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| SECRETARY |
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PRESIDENT |
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| AUTHORIZED REPRESENTATIVE |
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| COUNTERSIGNATURE DATE |
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COUNTERSIGNED AT |
MARSH USA INC
99 HIGH STREET
BOSTON, MA 02110
INVESTMENT COMPANY BLANKET BOND
The Underwriter, in consideration of an agreed premium, and subject to the Declarations made a part hereof, the General Agreements, Conditions and
Limitations and other terms of this bond, agrees with the Insured, in accordance with the Insuring Agreements hereof to which an amount of insurance is applicable as set forth in Item 3 of the Declarations and with respect to loss sustained by
the Insured at any time but discovered during the Bond Period, to indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
Loss resulting from
any dishonest or fraudulent act(s), including Larceny or Embezzlement committed by an Employee, committed anywhere and whether committed alone or in collusion with others, including loss of Property resulting from such acts of an Employee, which
Property is held by the Insured for any purpose or in any capacity and whether so held gratuitously or not and whether or not the Insured is liable therefor.
Dishonest or fraudulent act(s) as used in this Insuring Agreement shall mean only dishonest or fraudulent act(s) committed by such Employee with the manifest intent:
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(a) |
to cause the Insured to sustain such loss; and |
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(b) |
to obtain financial benefit for the Employee, or for any other person or organization intended by the Employee to receive such benefit, other than salaries,
commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other employee benefits earned in the normal course of employment. |
Expense
incurred by the Insured for that part of the costs of audits or examinations required by any governmental regulatory authority to be conducted either by such authority or by an independent accountant by reason of the discovery of loss sustained by
the Insured through any dishonest or fraudulent act(s), including Larceny or Embezzlement of
any of the Employees. The total liability of the Underwriter for such expense by reason of such acts of any Employee or in which such Employee is concerned or implicated or with respect to any
one audit or examination is limited to the amount stated opposite Audit Expense in Item 3 of the Declarations; it being understood, however, that such expense shall be deemed to be a loss sustained by the Insured through any dishonest or
fraudulent act(s), including Larceny or Embezzlement of one or more of the Employees and the liability under this paragraph shall be in addition to the Limit of liability stated in Insuring Agreement (A) in Item 3 of the Declarations.
Loss of Property
(occurring with or without negligence or violence) through robbery, burglary, Larceny, theft, holdup, or other fraudulent means, misplacement, mysterious unexplainable disappearance, damage thereto or destruction thereof, abstraction or removal from
the possession, custody or control of the Insured, and loss of subscription, conversion, redemption or deposit privileges through the misplacement or loss of Property, while the Property is (or is supposed or believed by the Insured to be) lodged or
deposited within any offices or premises located anywhere, except in an office listed in Item 4 of the Declarations or amendment thereof or in the mail or with a carrier for hire other than an armored motor vehicle company, for the purpose of
transportation.
Offices and Equipment
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(1) |
Loss of or damage to, furnishings, fixtures, stationery, supplies or equipment, within any of the Insured's offices covered under this bond caused by Larceny or theft
in, or by burglary, robbery or holdup of such office, or attempt thereat, or by vandalism or malicious mischief; or |
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(2) |
loss through damage to any such office by Larceny or theft in, or by burglary, robbery or holdup of such office or attempt thereat, or to the interior of any such
office by vandalism or malicious mischief provided, in any event, that the Insured is the owner of such offices, furnishings, fixtures, stationery, supplies or equipment or is legally liable for such loss or damage, always excepting, however, all
loss or damage through fire. |
Loss of Property
(occurring with or without negligence or violence) through robbery, Larceny, theft, holdup, misplacement, mysterious unexplainable disappearance, being lost or otherwise made away with, damage thereto or destruction thereof, and loss of
subscription, conversion, redemption or deposit privileges through the misplacement or loss of Property, while the Property is in transit anywhere in the custody of any person or persons acting as messenger, except while in the mail or with a
carrier for hire, other than an armored motor vehicle company, for the purpose of transportation, such transit to begin immediately upon receipt of such Property by the transporting person or persons, and to end immediately upon delivery thereof at
destination.
| (E) |
FORGERY OR ALTERATION |
Loss through FORGERY or ALTERATION of, on or in any bills of exchange, checks, drafts,
acceptances, certificates of deposit. promissory notes, or other written promises, orders or directions to pay sums certain in money, due bills, money orders, warrants, orders upon public treasuries, letters of credit, written instructions, advices
or applications directed to the Insured, authorizing or acknowledging the transfer, payment, delivery or receipt of funds or Property, which instructions or advices or applications purport to have been signed or endorsed by any customer of the
Insured, shareholder or subscriber to shares, whether certificated or uncertificated, of any Investment Company or by any financial or banking institution or stockbroker but which instructions, advices or applications either bear the forged
signature or endorsement or have been altered without the knowledge and consent of such customer, shareholder or subscriber to shares, whether certificated or uncertificated, of an Investment Company, financial or banking institution or stockbroker,
withdrawal orders or receipts for the withdrawal of funds or Property, or receipts or certificates of deposit for Property and bearing the name of the Insured as issuer, or of another Investment Company for which the Insured acts as agent,
excluding, however, any loss covered under Insuring Agreement (F) hereof whether or not coverage for Insuring Agreement (F) is provided for in the Declarations of this bond.
Any check or draft (a) made payable to a fictitious payee and endorsed in the name of such fictitious payee or (b) procured
in a transaction with the maker or drawer thereof or with one acting as an agent of such maker or drawer or anyone impersonating another and made or drawn payable to the one so impersonated and endorsed by anyone other than the one impersonated,
shall be deemed to be forged as to such endorsement.
Mechanically reproduced facsimile signatures are treated the same as
handwritten signatures.
Loss sustained by
the Insured, including loss sustained by reason of a violation of the constitution, by-laws, rules or regulations of any Self Regulatory Organization of which the Insured is a member or which would have been imposed upon the Insured by the
constitution, by-laws, rules or regulations of any Self Regulatory Organization if the Insured had been a member thereof,
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(1) |
through the Insured’s having, in good faith and in the course of business, whether for its own account or for the account of others, in any representative,
fiduciary, agency or any other capacity, either gratuitously or otherwise, purchased or otherwise acquired, accepted or received, or sold or delivered, or given any value, extended any credit or assumed any liability, on the faith of, or otherwise
acted upon, any securities, documents or other written instruments which prove to have been |
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(b) |
forged as to the signature of any maker, drawer, issuer, endorser, assignor, lessee, transfer agent or registrar, acceptor, surety or guarantor or as to the signature
of any person signing in any other capacity, or |
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(c) |
raised or otherwise altered, or lost, or stolen, or |
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(2) |
through the Insured’s having, in good faith and in the course of business, guaranteed in writing or witnessed any signatures whether for valuable consideration or
not and whether or not such guaranteeing or witnessing is ultra vires the Insured, upon any transfers, assignments, bills of sale, powers of
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attorney, guarantees, endorsements or other obligations upon or in connection with any securities, documents or other written instruments and which pass or purport to pass title to such
securities, documents or other written instruments; EXCLUDING, losses caused by FORGERY or ALTERATION of, on or in those instruments covered under Insuring Agreement (E) hereof. |
Securities, documents or other written instruments shall be deemed to mean original (including original counterparts) negotiable or
non-negotiable agreements which in and of themselves represent an equitable interest, ownership, or debt, including an assignment thereof which instruments are in the ordinary course of business, transferable by delivery of such agreements with any
necessary endorsement or assignment.
The word “counterfeited” as used in this Insuring Agreement shall be deemed
to mean any security, document or other written instrument which is intended to deceive and to be taken for an original.
Mechanically produced facsimile signatures are treated the same as handwritten signatures.
Loss
through the receipt by the Insured, in good faith, of any counterfeited money orders or altered paper currencies or coin of the United States of America or Canada issued or purporting to have been issued by the United States of America or Canada or
issued pursuant to a United States of America or Canadian statute for use as currency.
Loss against any and all sums which the Insured shall become obligated to pay by reason
of the Liability imposed upon the Insured by law for damages:
For having either complied with or failed to comply with any
written notice of any customer, shareholder or subscriber of the Insured or any Authorized Representative of such customer, shareholder or subscriber to stop payment of any check or draft made or drawn by such customer, shareholder or subscriber or
any Authorized Representative of such customer, shareholder or subscriber, or
For having refused to pay any check or draft
made or drawn by any customer, shareholder or subscriber of the Insured or any Authorized Representative of such customer, shareholder or subscriber.
| (I) |
UNCOLLECTIBLE ITEMS OF DEPOSIT |
Loss resulting from payments of dividends or fund shares, or withdrawals permitted from any customer’s, shareholder’s or
subscriber’s account based upon Uncollectible Items of Deposit of a customer, shareholder or subscriber credited by the Insured or the Insured’s agent to such customer’s, shareholder’s or subscriber’s Mutual Fund Account; or
loss resulting from any Item of Deposit processed through an Automated Clearing House
which is reversed by the customer, shareholder or subscriber and deemed uncollectible by the Insured.
Loss includes
dividends and interest accrued not to exceed 15% of the Uncollectible Items which are deposited.
This Insuring Agreement
applies to all Mutual Funds with “exchange privileges” if all Fund(s) in the exchange program are insured by a National Union Fire Insurance Company of Pittsburgh, PA for Uncollectible Items of Deposit. Regardless of the number of
transactions between Fund(s), the minimum number of days of deposit within the Fund(s) before withdrawal as declared in the Fund(s) prospectus shall begin from the date a deposit was first credited to any Insured Fund(s).
GENERAL AGREEMENTS
| A. |
ADDITIONAL OFFICES OR EMPLOYEES- CONSOLIDATION OR MERGER-NOTICE |
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1. |
If the Insured shall, while this bond is in force, establish any additional office or offices, such office or offices shall be automatically covered hereunder from the
dates of their establishment,
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respectively. No notice to the Underwriter of an increase during any premium period in the number of offices or in the number of Employees at any of the offices covered hereunder need be given
and no additional premium need be paid for the remainder of such premium period. |
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2. |
If an Investment Company, named as Insured herein, shall, while this bond is in force, merge or consolidate with, or purchase the assets of another institution,
coverage for such acquisition shall apply automatically from the date of acquisition. The Insured shall notify the Underwriter of such acquisition within 60 days of said date, and an additional premium shall be computed only if such acquisition
involves additional offices or employees. |
No statement made by
or on behalf of the Insured, whether contained in the application or otherwise, shall be deemed to be a warranty of anything except that it is true to the best of the knowledge and belief of the person making the statement.
| C. |
COURT COSTS AND ATTORNEYS’ FEES |
(Applicable to all Insuring Agreements or Coverages now or hereafter forming part of this bond)
The Underwriter will indemnify the Insured against court costs and reasonable attorneys' fees incurred and paid by the Insured in defense, whether or not successful, whether or not fully litigated on the
merits and whether or not settled of any suit or legal proceeding brought against the Insured to enforce the Insured's liability or alleged liability on account of any loss, claim or damage which, if established against the Insured, would constitute
a loss sustained by the Insured covered under the terms of this bond provided, however, that with respect to Insuring Agreement (A) this indemnity shall apply only in the event that
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(1) |
an Employee admits to being guilty of any dishonest or fraudulent act(s), including Larceny or Embezzlement; or |
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(2) |
an Employee is adjudicated to be guilty of any dishonest or fraudulent act(s), including Larceny or Embezzlement; |
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(3) |
in the absence of (1) or (2) above an arbitration panel agrees, after a review of an agreed statement of facts, that an Employee would be found guilty of
dishonesty if such Employee were prosecuted. |
The Insured shall promptly give notice to the Underwriter of any
such suit or legal proceeding and at the request of the Underwriter shall furnish it with copies of all pleadings and other papers therein. At the Underwriter's election the Insured shall permit the Underwriter to conduct the defense of such suit or
legal proceeding, in the Insured's name, through attorneys of the Underwriter's selection. In such event, the Insured shall give all reasonable information and assistance which the Underwriter shall deem necessary to the proper defense of such suit
or legal proceeding.
If the amount of the Insured’s liability or alleged liability is greater than the amount
recoverable under this bond, or if a Deductible Amount is applicable, or both, the liability of the Underwriter under this General Agreement is limited to the proportion of court costs and attorneys' fees incurred and paid by the Insured or by the
Underwriter that the amount recoverable under this bond bears to the total of such amount plus the amount which is not so recoverable. Such indemnity shall be in addition to the Limit of Liability for the applicable Insuring Agreement or Coverage.
Acts of an
Employee, as defined in this bond, are covered under Insuring Agreement (A) only while the Employee is in the Insured's employ. Should loss involving a former Employee of the Insured be discovered subsequent to the termination of employment,
coverage would still apply under Insuring Agreement (A) if the direct proximate cause of
the loss occurred while the former Employee performed duties within the scope of his/her
THE FOREGOING INSURING AGREEMENTS AND
GENERAL AGREEMENTS ARE SUBJECT TO
THE FOLLOWING CONDITIONS
AND LIMITATIONS:
SECTION 1. DEFINITIONS
The
following terms, as used in this bond, shall have the respective meanings stated in this Section:
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(1) |
any of the Insured’s officers, partners, or employees, and |
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(2) |
any of the officers or employees of any predecessor of the Insured whose principal assets are acquired by the Insured by consolidation or merger with, or purchase of
assets or capital stock of such predecessor. and |
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(3) |
attorneys retained by the Insured to perform legal services for the Insured and the employees of such attorneys while such attorneys or the employees of such attorneys
are performing such services for the Insured, and |
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(4) |
guest students pursuing their studies or duties in any of the Insured’s offices, and |
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(5) |
directors or trustees of the Insured, the investment advisor, underwriter (distributor), transfer agent, or shareholder accounting record keeper, or administrator
authorized by written agreement to keep financial and/or other required records, but only while performing acts coming within the scope of the usual duties of an officer or employee or while acting as a member of any committee duly elected or
appointed to examine or audit or have custody of or access to the Property of the Insured, and
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(6) |
any individual or individuals assigned to perform the usual duties of an employee within the premises of the Insured, by contract, or by any agency furnishing temporary
personnel on a contingent or part-time basis, and |
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(7) |
each natural person, partnership or corporation authorized by written agreement with the Insured to perform services as electronic data processor of checks or other
accounting records of the Insured, but excluding any such processor who acts as transfer agent or in any other agency capacity in issuing checks, drafts or securities for the Insured, unless included under Sub-section (9) hereof, and
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(8) |
those persons so designated in Section 15, Central Handling of Securities, and |
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(9) |
any officer, partner or Employee of |
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a) |
an investment advisor, |
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b) |
an underwriter (distributor), |
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c) |
a transfer agent or shareholder accounting record-keeper, or |
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d) |
an administrator authorized by written agreement to keep financial and/or other required records, |
for an Investment Company named as Insured while performing acts coming within the scope of the usual duties of an officer or Employee
of any Investment Company named as Insured herein, or while acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to the Property of any such Investment Company, provided that only
Employees or partners of a transfer agent, shareholder accounting record-keeper or administrator which is an affiliated person as defined in the Investment Company Act of 1940, of an Investment
Company named as Insured or is an affiliated person of the adviser, underwriter or administrator of such Investment Company, and which is not a bank, shall be included within the definition of Employee.
Each employer of temporary personnel or processors as set forth in Sub-Sections (6) and of Section 1(a) and their partners,
officers and employees shall collectively be deemed to be one person for all the purposes of this bond, excepting, however, the last paragraph of Section 13.
Brokers, or other agents under contract or representatives of the same general character shall not be considered Employees.
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(b) |
“Property” means money (i.e. currency, coin, bank notes, Federal Reserve notes), postage and revenue stamps, U.S. Savings Stamps, bullion, precious metals of
all kinds and in any form and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semi-precious stones, bonds, securities, evidences of debts, debentures, scrip, certificates, interim receipts, warrants, rights, puts,
calls, straddles, spreads, transfers, coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal orders, money orders, warehouse receipts, bills of lading, conditional sales contracts, abstracts of title, insurance policies,
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deeds, mortgages under real estate and/or chattels and upon interests therein, and assignments of such policies, mortgages and instruments, and other valuable papers, including books of account
and other records used by the Insured in the conduct of its business, and all other instruments similar to or in the nature of the foregoing including Electronic Representations of such instruments enumerated above (but excluding all data processing
records) in which the Insured has an interest or in which the Insured acquired or should have acquired an interest by reason of a predecessor’s declared financial condition at the time of the Insured's consolidation or merger with, or purchase
of the principal assets of, such predecessor or which are held by the Insured for any purpose or in any capacity and whether so held by the Insured for any purpose or in any capacity and whether so held gratuitously or not and whether or not the
Insured is liable therefor. |
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(c) |
“Forgery” means the signing of the name of another with intent to deceive; it does not include the signing of one's own name with or without authority, in any
capacity, for any purpose. |
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(d) |
“Larceny and Embezzlement“ as it applies to any named Insured means those acts as set forth in Section 37 of the Investment Company Act of 1940.
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(e) |
“Items of Deposit” means any one or more checks and drafts. Items of Deposit shall not be deemed uncollectible until the Insured's collection procedures have
failed. |
SECTION 2. EXCLUSIONS
THIS BOND DOES NOT COVER:
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(a) |
loss effected directly or indirectly by means of forgery or alteration of, on or in any instrument, except when covered by Insuring Agreement (A), (E), (F) or (G).
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(b) |
loss due to riot or civil commotion outside the United States of America and Canada; or loss due to military, naval or usurped power, war or insurrection unless such
loss occurs in transit in the circumstances recited in Insuring Agreement (D), and unless, when such transit was initiated, there was no knowledge of such riot, civil commotion, military, naval or usurped power, war or insurrection on the part of
any person acting for the Insured in initiating such transit. |
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(c) |
loss, in time of peace or war, directly or indirectly caused by or resulting from the effects of nuclear fission or fusion or radioactivity; provided, however, that
this paragraph shall not apply to loss resulting from industrial uses of nuclear energy. |
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(d) |
loss resulting from any wrongful act or acts of any person who is a member of the Board of Directors of the Insured or a member of any equivalent body by whatsoever
name known unless such person is also an Employee or an elected official, partial owner or partner of the Insured in some other capacity, nor, in any event, loss resulting from the act or acts of any person while acting in the capacity of a member
of such Board or equivalent body. |
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(e) |
loss resulting from the complete or partial non-payment of, or default upon, any loan or transaction in the nature of, or amounting to, a loan made by or obtained from
the Insured or any of its partners, directors or
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Employees, whether authorized or unauthorized and whether procured in good faith or through trick, artifice, fraud or false pretenses. unless such loss is covered under Insuring Agreement (A),
(E) or (F). |
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(f) |
loss resulting from any violation by the Insured or by any Employee |
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(1) |
of law regulating (a) the issuance, purchase or sale of securities, (b) securities transactions upon Security Exchanges or over the counter market,
(c) Investment Companies, or (d) Investment Advisors, or |
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(2) |
of any rule or regulation made pursuant to any such law, unless such loss, in the absence of such laws, rules or regulations, would be covered under Insuring Agreements
(A) or (E). |
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(g) |
loss of Property or loss of privileges through the misplacement or loss of Property as set forth in Insuring Agreement (C) or (D) while the Property is in the
custody of any armored motor vehicle company, unless such loss shall be in excess of the amount recovered or received by the Insured under (a) the Insured’s contract with said armored motor vehicle company, (b) insurance carried by
said armored motor vehicle company for the benefit of users of its service, and (c) all other insurance and indemnity in force in whatsoever form carried by or for the benefit of users of said armored motor vehicle company’s service, and
then this bond shall cover only such excess. |
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(h) |
potential income, including but not limited to interest and dividends, not
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realized by the Insured because of a loss covered under this bond, except as included under Insuring Agreement (I). |
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(i) |
all damages of any type for which the Insured is legally liable, except direct compensatory damages arising from a loss covered under this bond.
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(j) |
loss through the surrender of Property away from an office of the Insured as a result of a threat |
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(1) |
to do bodily harm to any person, except loss of Property in transit in the custody of any person acting as messenger provided that when such transit was initiated there
was no knowledge by the Insured of any such threat, or |
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(2) |
to do damage to the premises or Property of the Insured, except when covered under Insuring Agreement (A). |
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(k) |
all costs, fees and other expenses incurred by the Insured in establishing the existence of or amount of loss covered under this bond unless such indemnity is provided
for under Insuring Agreement (B). |
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(l) |
loss resulting from payments made or withdrawals from the account of a customer of the Insured, shareholder or subscriber to shares involving funds erroneously credited
to such account, unless such payments are made to or withdrawn by such depositor or representative of such person, who is within the premises of the drawee bank of the Insured or within the office of the Insured at the time of such payment or
withdrawal or unless such payment is covered under Insuring Agreement (A). |
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(m) |
any loss resulting from Uncollectible Items of Deposit which
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are drawn from a financial institution outside the fifty states of the United States of America, District of Columbia, and territories and possessions of the United States of America, and Canada.
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SECTION 3. ASSIGNMENT OF RIGHTS
This bond does not afford coverage in favor of any Employers of temporary personnel or of processors as set forth in sub-sections (6) and (7) of Section 1(a) of this bond, as aforesaid, and
upon payment to the Insured by the Underwriter on account of any loss through dishonest or fraudulent act(s) including Larceny or Embezzlement committed by any of the partners, officers or employees of such Employers, whether acting alone or in
collusion with others, an assignment of such of the Insured’s rights and causes of action as it may have against such Employers by reason of such acts so committed shall, to the extent of such payment, be given by the Insured to the
Underwriter, and the Insured shall execute all papers necessary to secure to the Underwriter the rights herein provided for.
SECTION 4. LOSS
-NOTICE -PROOF- LEGAL PROCEEDINGS
This bond is for the use and benefit only of the Insured named in the Declarations and the
Underwriter shall not be liable hereunder for loss sustained by anyone other than the Insured unless the Insured, in its sole discretion and at its option, shall include such loss in the Insured’s proof of loss. At the earliest practicable
moment after discovery of any loss hereunder the Insured shall give the Underwriter written notice thereof and shall also within six months after such discovery furnish to the Underwriter affirmative proof of loss with full particulars. If claim is
made under this bond for loss of securities or shares, the
Underwriter shall not be liable unless each of such securities or shares is identified in such proof of loss by a certificate or bond number or, where such securities or shares are
uncertificated, by such identification means as agreed to by the Underwriter. The Underwriter shall have thirty days after notice and proof of loss within which to investigate the claim, but where the loss is clear and undisputed, settlement shall
be made within forty-eight hours; and this shall apply notwithstanding the loss is made up wholly or in part of securities of which duplicates may be obtained. Legal proceedings for recovery of any loss hereunder shall not be brought prior to the
expiration of sixty days after such proof of loss is filed with the Underwriter nor after the expiration of twenty-four months from the discovery of such loss, except that any action or proceeding to recover hereunder on account of any judgment
against the Insured in any suit mentioned in General Agreement C or to recover attorneys’ fees paid in any such suit, shall be begun within twenty-four months from the date upon which the judgment in such suit shall become final. If any
limitation embodied in this bond is prohibited by any law controlling the construction hereof, such limitation shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law.
Discovery occurs when the Insured
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(a) |
becomes aware of facts, or |
| |
(b) |
receives written notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstance |
which would cause a reasonable person to assume that a loss covered by the bond has been or will be incurred even though the exact amount or details of
loss may not be then known.
SECTION 5. VALUATION OF PROPERTY
The value of any Property, except books of accounts or other records used by the Insured in the conduct of its business, for the loss of which a claim shall be made hereunder, shall be determined by the
average market value of such Property on the business day next preceding the discovery of such loss; provided, however, that the value of any Property replaced by the Insured prior to the payment of claim therefor shall be the actual market value at
the time of replacement; and further provided that in case of a loss or misplacement of interim certificates, warrants, rights, or other securities, the production which is necessary to the exercise of subscription, conversion, redemption or deposit
privileges, the value thereof shall be the market value of such privileges immediately preceding the expiration thereof if said loss or misplacement is not discovered until after their expiration. If no market price is quoted for such Property or
for such privileges, the value shall be fixed by agreement between the parties or by arbitration.
In case of any loss or
damage to Property consisting of books of accounts or other records used by the Insured in the conduct of its business, the Underwriter shall be liable under this bond only if such books or records are actually reproduced and then for not more than
the cost of blank books, blank pages or other materials plus the cost of labor for the actual transcription or copying of data which shall have been furnished by the Insured in order to reproduce such books and other records.
SECTION 6. VALUATION OF PREMISES AND FURNISHINGS
In case of damage to any office of the Insured, or loss of or damage to the furnishings, fixtures, stationery, supplies, equipment, safes or vaults therein, the Underwriter shall not be liable for more
than the actual cash value thereof, or for more than the actual cost of
their replacement or repair. The Underwriter may, at its election, pay such actual cash value or make such replacement or repair. If the Underwriter and the Insured cannot agree upon such cash
value or such cost of replacement or repair, such shall be determined by arbitration.
SECTION 7. LOST SECURITIES
If the Insured shall sustain a loss of securities the total value of which is in excess of the limit stated in Item 3 of the
Declarations of this bond, the liability of the Underwriter shall be limited to payment for, or duplication of, securities having value equal to the limit stated in Item 3 of the Declarations of this bond.
If the Underwriter shall make payment to the Insured for any loss of securities, the Insured shall thereupon assign to the Underwriter
all of the Insured’s rights, title and interests in and to said securities.
With respect to securities the value of
which do not exceed the Deductible Amount (at the time of the discovery of the loss) and for which the Underwriter may at its sole discretion and option and at the request of the Insured issue a Lost Instrument Bond or Bonds to effect replacement
thereof, the Insured will pay the usual premium charged therefor and will indemnify the Underwriter against all loss or expense that the Underwriter may sustain because of the issuance of such Lost Instrument Bond or Bonds.
With respect to securities the value of which exceeds the Deductible Amount (at the time of discovery of the loss) and for which the
Underwriter may issue or arrange for the issuance of a Lost Instrument Bond or Bonds to effect replacement thereof, the Insured agrees that it will pay as premium therefor a proportion of the usual premium charged therefor, said proportion being
equal to the percentage that the Deductible Amount bears to the value of the securities upon discovery of the loss, and that it will indemnify the issuer of said Lost Instrument Bond or Bonds against all loss and expense that is not recoverable from
the Underwriter under the terms and conditions
of this INVESTMENT COMPANY BLANKET BOND subject to the Limit of Liability hereunder.
SECTION 8. SALVAGE
In case
of recovery, whether made by the Insured or by the Underwriter, on account of any loss in excess of the Limit of Liability hereunder plus the Deductible Amount applicable to such loss from any source other than suretyship, insurance, reinsurance,
security or indemnity taken by or for the benefit of the Underwriter, the net amount of such recovery, less the actual costs and expenses of making same, shall be applied to reimburse the Insured in full for the excess portion of such loss, and the
remainder, if any, shall be paid first in reimbursement of the Underwriter and thereafter in reimbursement of the Insured for that part of such loss within the Deductible Amount. The Insured shall execute all necessary papers to secure to the
Underwriter the rights provided for herein.
SECTION 9. NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
At all times prior to termination hereof this bond shall continue in force for the limit stated in the applicable sections of
Item 3 of the Declarations of this bond notwithstanding any previous loss for which the Underwriter may have paid or be liable to pay hereunder; PROVIDED, however, that regardless of the number of years this bond shall continue in force and the
number of premiums which shall be payable or paid, the liability of the Underwriter under this bond with respect to all loss resulting from
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(a) |
any one act of burglary, robbery or holdup, or attempt thereat, in which no Partner or Employee is concerned or implicated shall be deemed to be one loss, or
|
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(b) |
any one unintentional or negligent act on the part of any one person
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resulting in damage to or destruction or misplacement of Property, shall be deemed to be one loss, or |
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(c) |
all wrongful acts, other than those specified in (a) above, of any one person shall be deemed to be one loss, or |
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(d) |
all wrongful acts, other than those specified in (a) above, of one or more persons (which dishonest act(s) or act(s) of Larceny or Embezzlement include, but are
not limited to, the failure of an Employee to report such acts of others) whose dishonest act or acts intentionally or unintentionally, knowingly or unknowingly, directly or indirectly, aid or aids in any way, or permits the continuation of, the
dishonest act or acts of any other person or persons shall be deemed to be one loss with the act or acts of the persons aided, or |
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(e) |
any one casualty or event other than those specified in (a), (b), (c) or (d) preceding, shall be deemed to be one loss, and |
shall be limited to the applicable Limit of Liability stated in Item 3 of the Declarations of this bond irrespective of the total amount of such
loss or losses and shall not be cumulative in amounts from year to year or from period to period.
Sub-section (c) is
not applicable to any situation to which the language of sub-section (d) applies.
SECTION 10. LIMIT OF LIABILITY
With respect to any loss set forth in the PROVIDED clause of Section 9 of this bond which is recoverable or recovered in whole or
in part under any other bonds or policies issued by the Underwriter to the Insured or to any predecessor in interest of the Insured and terminated or cancelled or allowed to expire and in which the period for discovery has not expired at the time
any such loss thereunder is
discovered, the total liability of the Underwriter under this bond and under other bonds or policies shall not exceed, in the aggregate, the amount carried hereunder on such loss or the amount
available to the Insured under such other bonds or policies, as limited by the terms and conditions thereof, for any such loss if the latter amount be the larger.
SECTION 11. OTHER INSURANCE
If the Insured shall hold, as indemnity against any
loss covered hereunder, any valid and enforceable insurance or suretyship, the Underwriter shall be liable hereunder only for such amount of such loss which is in excess of the amount of such other insurance or suretyship, not exceeding, however,
the Limit of Liability of this bond applicable to such loss.
SECTION 12. DEDUCTIBLE
The Underwriter shall not be liable under any of the Insuring Agreements of this bond on account of loss as specified, respectively, in
sub-sections (a), (b), (c), (d) and (e) of Section 9, NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND TOTAL LIABILITY, unless the amount of such loss, after deducting the net amount of all reimbursement and/or recovery obtained
or made by the Insured, other than from any bond or policy of insurance issued by an insurance company and covering such loss, or by the Underwriter on account thereof prior to payment by the Underwriter of such loss, shall exceed the Deductible
Amount set forth in Item 3 of the Declarations hereof (herein called Deductible Amount) and then for such excess only, but in no event for more than the applicable Limit of Liability stated in Item 3 of the Declarations.
The Insured will bear, in addition to the Deductible Amount, premiums on Lost Instrument Bonds as set forth in Section 7.
There shall be no deductible applicable to any loss under Insuring Agreement A sustained
by any Investment Company named as Insured herein.
SECTION 13. TERMINATION
The Underwriter may terminate this bond as an entirety by furnishing written notice specifying the termination date which cannot be
prior to 60 days after the receipt of such written notice by each Investment Company named as Insured and the Securities and Exchange Commission, Washington, D.C. The Insured may terminate this bond as an entirety by furnishing written notice to the
Underwriter. When the Insured cancels, the Insured shall furnish written notice to the Securities and Exchange Commission, Washington. D.C. prior to 60 days before the effective date of the termination. The Underwriter shall notify all other
Investment Companies named as Insured of the receipt of such termination notice and the termination cannot be effective prior to 60 days after receipt of written notice by all other Investment Companies. Premiums are earned until the termination
date as set forth herein.
This Bond will terminate as to any one Insured immediately upon taking over of such Insured by a
receiver or other liquidator or by State or Federal officials, or immediately upon the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of the
Insured. or immediately upon such Insured ceasing to exist, whether through merger into another entity, or by disposition of all of its assets.
The Underwriter shall refund the unearned premium computed at short rates in accordance with the standard short rate cancellation tables if terminated by the Insured or pro rata if terminated for any
other reason.
This Bond shall terminate
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(a) |
as to any Employee as soon as any partner, officer or supervisory
|
| |
Employee of the Insured, who is not in collusion with such Employee, shall learn of any dishonest or fraudulent act(s), including Larceny or Embezzlement on the part of such Employee without
prejudice to the loss of any Property then in transit in the custody of such Employee (See Section 16[d]), or |
| |
(b) |
as to any Employee 60 days after receipt by each Insured and by the Securities and Exchange Commission of a written notice from the Underwriter of its desire to
terminate this bond as to such Employee, or |
| |
(c) |
as to any person, who is a partner, officer or employee of any Electronic Data Processor covered under this bond, from and after the time that the Insured or any
partner or officer thereof not in collusion with such person shall have knowledge or information that such person has committed any dishonest or fraudulent act(s), including Larceny or Embezzlement in the service of the Insured or otherwise, whether
such act be committed before or after the time this bond is effective. |
SECTION 14. RIGHTS AFTER TERMINATION OR CANCELLATION
At any time prior to the termination or cancellation of this bond as an entirety, whether by the Insured or the Underwriter,
the Insured may give to the Underwriter notice that it desires under this bond an additional period of 12 months within which to discover loss sustained by the Insured prior to the effective date of such termination or cancellation and shall pay an
additional premium therefor.
Upon receipt of such notice from the Insured, the Underwriter shall give its written consent
thereto; provided, however, that such additional period of time shall terminate immediately;
| |
(a) |
on the effective date of any other insurance obtained by the Insured, its successor in business or any other party, replacing in whole or in part the insurance afforded
by this bond, whether or not such other insurance provides coverage for loss sustained prior to its effective date, or |
| |
(b) |
upon takeover of the Insured’s business by any State or Federal official or agency, or by any receiver or liquidator, acting or appointed for this purpose
|
without the necessity of the Underwriter giving notice of such termination. In the event that such additional period of time is
terminated, as provided above, the Underwriter shall refund any unearned premium.
The right to purchase such additional
period for the discovery of loss may not be exercised by any State or Federal official or agency, or by any receiver or liquidator, acting or appointed to take over the Insured’s business for the operation or for the liquidation thereof or for
any other purpose.
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities included in the systems for the central handling of securities established and maintained by Depository Trust Company, Midwest Depository Trust Company, Pacific Securities Depository Trust
Company, and Philadelphia Depository Trust Company, hereinafter called Corporations, to the extent of the Insured’s interest therein as effective by the making of appropriate entries on the books and records of such Corporations shall be deemed
to be Property.
The words “Employee” and “Employees” shall be deemed to include the officers, partners,
clerks and other employees of the New York Stock Exchange, Boston Stock Exchange, Midwest Stock Exchange, Pacific Stock Exchange and Philadelphia Stock
Exchange, hereinafter called Exchanges, and of the above named Corporations, and of any nominee in whose name is registered any security included within the systems for the central handling of
securities established and maintained by such Corporations, and any employee of any recognized service company, while such officers, partners, clerks and other employees and employees of service companies perform services for such Corporations in
the operation of such systems. For the purpose of the above definition a recognized service company shall be any company providing clerks or other personnel to said Exchanges or Corporation on a contract basis.
The Underwriter shall not be liable on account of any loss(es) in connection with the central handling of securities within the systems
established and maintained by such Corporations, unless such loss(es) shall be in excess of the amount(s) recoverable or recovered under any bond or policy of insurance indemnifying such Corporations, against such loss(es), and then the Underwriter
shall be liable hereunder only for the Insured’s share of such excess loss(es), but in no event for more than the Limit of Liability applicable hereunder.
For the purpose of determining the Insured’s share of excess loss(es) it shall be deemed that the Insured has an interest in any certificate representing any security included within such systems
equivalent to the interest the Insured then has in all certificates representing the same security included within such systems and that such Corporations shall use their best judgement in apportioning the amount(s) recoverable or recovered under
any bond or policy of insurance indemnifying such Corporations against such loss(es) in connection with the central handling of securities within such systems among all those having an interest as recorded by appropriate entries in the books and
records of such Corporations in Property involved in such loss(es) on the basis that each such interest shall share in the amount(s) so recoverable or recovered in the ratio that the value of each such interest bears to the total
value of all such interests and that the Insured’s share of such excess loss(es) shall be the amount of the Insured’s interest in such Property in excess of the amount(s) so apportioned
to the Insured by such Corporations.
This bond does not afford coverage in favor of such Corporations or Exchanges or any
nominee in whose name is registered any security included within the systems for the central handling of securities established and maintained by such Corporations, and upon payment to the Insured by the Underwriter on account of any loss(es) within
the systems, an assignment of such of the Insured’s rights and causes of action as it may have against such Corporations or Exchanges shall to the extent of such payment, be given by the Insured to the Underwriter, and the Insured shall execute
all papers necessary to secure to the Underwriter the rights provided for herein.
SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If more than one corporation, co-partnership or person or any combination of them be included as the Insured herein:
| |
(a) |
the total liability of the Underwriter hereunder for loss or losses sustained by any one or more or all of them shall not exceed the limit for which the Underwriter
would be liable hereunder if all such loss were sustained by any one of them, |
| |
(b) |
the one first named herein shall be deemed authorized to make, adjust and receive and enforce payment of all claims hereunder and shall be deemed to be the agent of the
others for such purposes and for the giving or receiving of any notice required or permitted to be given by the terms hereof, provided that the Underwriter shall furnish each named Investment Company with a
|
| |
copy of the bond and with any amendment thereto, together with a copy of each formal filing of the settlement of each such claim prior to the execution of such settlement,
|
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(c) |
the Underwriter shall not be responsible for the proper application of any payment made hereunder to said first named Insured, |
| |
(d) |
knowledge possessed or discovery made by any partner, officer or supervisory Employee of any Insured shall for the purposes of Section 4 and Section 13 of
this bond constitute knowledge or discovery by all the Insured, and |
| |
(e) |
if the first named Insured ceases for any reason to be covered under this bond, then the Insured next named shall thereafter be considered as the first named Insured
for the purposes of this bond. |
SECTION 17. NOTICE AND CHANGE OF CONTROL
Upon the Insured’s obtaining knowledge of a transfer of its outstanding voting securities which results in a change in control (as
set forth in Section 2(a) (9) of the Investment Company Act of 1940) of the Insured, the Insured shall within thirty (30) days of such knowledge give written notice to the Underwriter setting forth:
| |
(a) |
the names of the transferors and transferees (or the names of the beneficial owners if the voting securities are requested in another name), and
|
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(b) |
the total number of voting securities owned by the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and
|
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(c) |
the total number of outstanding voting securities.
|
As used in this section, control means the power to exercise a controlling influence over
the management or policies of the Insured.
Failure to give the required notice shall result in termination of coverage of
this bond, effective upon the date of stock transfer for any loss in which any transferee is concerned or implicated.
Such
notice is not required to be given in the case of an Insured which is an Investment Company.
SECTION 18. CHANGE OR MODIFICATION
This bond or any instrument amending or effecting same may not be changed or modified orally. No changes in or modification thereof
shall be effective unless made by written endorsement issued to form a part hereof over the signature of the Underwriter’s Authorized Representative. When a bond covers only one
Investment Company no change or modification which would adversely affect the rights of the Investment Company shall be effective prior to 60 days after written notification has been furnished to
the Securities and Exchange Commission, Washington, D.C. by the Insured or by the Underwriter. If more than one Investment Company is named as the Insured herein, the Underwriter shall give written notice to each Investment Company and to the
Securities and Exchange Commission, Washington, D.C. not less than 60 days prior to the effective date of any change or modification which would adversely affect the rights of such Investment Company.
IN WITNESS WHEREOF, the Underwriter has caused this bond to be executed on the Declarations Page.
ENDORSEMENT #1
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| This rider, effective |
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12:01 a.m., |
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December 15, 2010 |
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forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
AMENDED FIDELITY AGREEMENT
In consideration of the premium charged, it is hereby understood and agreed that:
| 1. |
Insuring Agreement (A) FIDELITY is hereby deleted in its entirety and replaced with the following: |
| |
(A) |
Loss resulting directly from dishonest or fraudulent act(s), including Larceny or Embezzlement committed by an Employee, committed anywhere and whether committed alone
or in collusion with others including loss of Property resulting from such acts of an Employee, which Property is held by the Insured for any purpose or in any capacity and whether or not the Insured is liable thereof. |
Dishonest or fraudulent act(s) as used in this Insuring Agreement shall mean only dishonest or fraudulent act(s) committed by such
Employee with the intent:
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(a) |
to cause the Insured to sustain such loss; or |
| |
(b) |
to obtain financial benefit for the Employee, or for any other person or organization intended by the Employee to receive such benefit, other than salaries,
commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other employee benefits earned in the normal course of employment. |
Notwithstanding the foregoing, however, it is agreed that with regard to Loans and/or Trading this bond covers only loss resulting directly from dishonest or fraudulent acts committed by an Employee with
the intent to cause the Insured to sustain such loss and which results in a financial benefit for the Employee; or results in an improper financial benefit for another person or entity with whom the Employee committing the dishonest or fraudulent
act was in collusion, provided that the Insured establishes that the Employee intended to participate in the financial benefit.
The word “Loan” as used in this Insuring Agreement means all extension of credit by the insured and all transactions creating a
creditor relationship in favor of the Insured and all transactions by which the Insured assumes an existing creditor relationship.
ENDORSEMENT #1 (Continued)
The word “Trading” as used in this Insuring Agreement means trading or other
dealings in securities, commodities, futures, options, foreign or Federal Funds, currencies, foreign exchange and the like.
As
used in this Insuring Agreement, financial benefit does not include any salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions, or other employee benefits earned in the normal course of business.
| 2. |
Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations conditions or agreements of the attached policy other than as above
stated. |
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #2
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| This rider, effective |
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12:01 a.m., |
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December 15, 2010 |
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forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
AMEND DISCOVERY
It is
agreed that:
| 1. |
Section 3, DISCOVERY, is hereby deleted in its entirety and replaced with the following: |
This policy applies only to loss first discovered by the Chief Financial Officer, Compliance Officer, Treasure or General Counsel of the
Insured during the Policy Period. Discovery occurs at the earlier of such individuals being aware of:
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(a) |
facts which may subsequently result in a loss of a type covered by this Policy, or |
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(b) |
an actual or potential claim in which it is alleged that the Insured is liable to a third party, regardless of when the act or acts causing or contributing to such loss
occurred, even though the amount of loss does not exceed the applicable DEDUCTIBLE AMOUNT, or the exact amount or details of loss may not then be known. |
| 2. |
Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations, conditions or agreements of the attached policy other than as
above stated. |
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #3
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| This rider, effective |
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12:01 a.m., |
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December 15, 2010 |
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forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
EMPLOYEE DISHONESTY
It
is agreed that this Bond is amended by adding a fourth paragraph of Section 12., TERMINATION OR CANCELLATION:
"If any member of the Risk
Management Department, Internal Audit Department, or General Counsel not acting in collusion with an Employee learns of any dishonest act committed by such Employee at any time, whether in the employment of the Insured or otherwise, whether or not
such act is of the type covered under this Bond, and whether against the Insured or any other person or entity, the Insured:
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a. |
shall immediately remove such Employee from a position that would enable such Employee to cause the Insured to suffer a loss covered by this Bond;
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #4
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| This rider, effective |
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12:01 a.m., |
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December 15, 2010 |
|
forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
NOTICE OF CLAIM (REPORTING BY E-MAIL)
In consideration of the premium charged, it is hereby understood and agreed as follows:
| 1. |
Email Reporting of Claims: In addition to the postal address set forth for any Notice of Claim Reporting under this policy, such notice may also be given in writing
pursuant to the policy’s other terms and conditions to the Insurer by email at the following: |
email
address:
c-claim@aig.com
Your email must reference the policy number for this policy. The date of the Insurer’s receipt of the emailed notice shall constitute the date of notice. In addition to Notice of Claim Reporting via
email, notice may also be given to the Insurer by mailing such notice to: c-Claim for Financial Lines, AIG Domestic Claims, Inc., 175 Water Street, 9th Floor, New York, New York 10038 or faxing such notice to (866) 227-1750.
| 2. |
Definitions : For this endorsement only, the following definitions shall apply: |
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(a) |
“Insurer” means the “Insurer,” “Underwriter” or “Company” or other name specifically ascribed in this policy as the insurance
company or underwriter for this policy. |
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(b) |
“Notice of Claim Reporting” means “notice of claim/circumstance,” “notice of loss” or other reference in the policy designated for
reporting of claims, loss or occurrences or situations that may give rise or result in loss under this policy. |
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(c) |
“Policy” means the policy, bond or other insurance product to which this endorsement is attached. |
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #5
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| This rider, effective |
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12:01 a.m., |
|
December 15, 2010 |
|
forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
VALUATION OF PROPERTY AMENDED
It is agreed that:
| 1. |
VALUATION OF PROPERTY, Section 5. The first paragraph is hereby amended by deleting the words “at the time of payment of such loss” and replacing with
“on the business day next preceding the discovery of such loss.” |
| 2. |
Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations, conditions, or agreements of the attached policy other than as
above stated. |
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #6
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| This rider, effective |
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12:01 a.m., |
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December 15, 2010 |
|
forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
COSURETY RIDER
It is
agreed that:
| 1. |
The term “Underwriter” as used in the attached bond shall be construed to mean, unless otherwise specified in the rider, all of the Companies executing the
attached bond, |
| 2. |
Each of said companies shall be liable only for such proportion of any Single Loss under the attached bond as the amount underwritten by such Company as specified in
the Schedule forming a part hereof, bears to the Aggregate Limits of Liability of the attached bond, but in no event shall any of said Companies be liable for an amount greater than that underwritten by it. |
| 3. |
In the absence of a request from any of said Companies to pay premium directly to it, premiums for the attached bond may be paid to the Controlling Company for the
account of all said companies. |
| 4. |
In the absence of a request from any of said Companies that notice of claim and proof of loss be given to or filed directly with it, the giving of such notice to and
the filing of such proof with, the Controlling Company shall be deemed to be in compliance with the conditions of the attached bond for the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with said
conditions. |
| 5. |
The Controlling Company may give notice in accordance with the terms of the attached bond, terminating or canceling the attached bond as an entirety or as to any
Employee, and any notice so given shall terminate or cancel the liability of all said Companies. |
| 6. |
Any Company other than the Controlling Company may give notice in accordance with the terms of the attached bond, terminating or canceling the entire liability of such
other Company under the attached bond or as to any Employee. |
| 7. |
In the absence of a request from any of said Companies that notice of termination or cancellation by the Insured of the attached bond in its entirety be given to or
filed directly with it, the giving of such notice in accordance with the terms of the attached bond to the Controlling Company shall terminate or cancel the liability of all of said Companies as an entirety. The Insured may terminate or cancel the
entire liability of any Company, other than the Controlling Company, under the attached bond by giving notice of such termination or cancellation to such other Company, and shall send copy of such notice to the Controlling Company.
|
ENDORSEMENT #6 (Continued)
| 8. |
In the event of the termination or cancellation of the attached bond as an entirety, no Company shall be liable to the Insured for a greater proportion of any return
premium due the Insured than the amount underwritten by such Company bears to the Aggregate Limit of Liability of the attached bond. |
| 9. |
In the event of termination or cancellation of the attached bond as to any Company, such Company alone shall be liable to the insured for any return premium due the
Insured on account of such termination or cancellation. The termination or cancellation of the attached bond as to any Company other than the Controlling Company shall not terminate or cancel or otherwise affect the liability of the other Companies
under the attached bond. |
| 10. |
This rider shall become effective as of 12:01 a.m. on December 15, 2010, standard time as specified in the bond. |
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Controlling Company |
| Underwritten for the sum of $25,000,000 |
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National Union Fire Insurance |
| part of $38,000,000 Single Loss Limit of Liability); $25,000,000 Aggregate excess of $38,000,000 Aggregate |
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of Pittsburgh, Pa. |
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By: |
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Authorized Representative |
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| Underwritten for the sum of $13,000,000 part of $38,000,000 Single Loss Limit of Liability); $13,000,000 Aggregate
excess of $38,000,000 Aggregate |
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CNA |
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By: |
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Authorized Representative |
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AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #7
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| This rider, effective |
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12:01 a.m., |
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December 15, 2010 |
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forms a part of |
| Bond number: |
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01-417-77-87 |
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| Issued to: |
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NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
AMENDED CONSOLIDATION, MERGER, OR PURCHASE OF ASSETS OR
COMPUTER SYSTEMS OR ANOTHER INSTITUTION - NOTICE
It is agreed that this Bond is amended
as follows:
| 1. |
General Agreements, Section A. AMENDED CONSOLIDATION, MERGER, OR PURCHASE OF ASSETS OR COMPUTER SYSTEMS OR ANOTHER INSTITUTION, is hereby deleted and replaced with the
following: |
If an Insured creates, other than by acquisition, a new registered management investment company for
which an increase in the bonding limit of liability for the coverage provided hereunder is required by Rule 17G - l of the Investment Company Act of 1940, that registered management investment company will be automatically insured hereunder, to the
extent that the required total combined Limit of Liability shall be increased to the minimum required limit of liability for all Insured's (including the newly created registered management investment company)covered hereunder, as required by Rule
17 G - l of the Investment Company Act of 1940, provided that the Limit of Liability does not then exceed $25,000,000 part of $38,000,000. If the Limit of Liability required for all Insured's covered hereunder including the newly created registered
management investment company will exceed $25,000,000 part of $38,000,000, no coverage will be provided for the newly created registered management investment company without the advance written consent of the Underwriter.
If an increase in bonding limits is required according to Rule 17 G - l of the Investment Company Act of 1940 due to an increase in
managed asset size, whether by growth of registered management investment companies insured under this Bond or by the addition of new registered management investment companies, the minimum required increase in limits shall take place automatically
and will be covered until the next Quarterly Period without payment of additional premium, provided that the total combined Limit of Liability for all Insured's under this Bond, as required by with Rule 17G - l of the Investment Company Act of 1940,
does not exceed $25,000,000 part of $38,000,000 after including the increase in limits needed due to the increase in managed assets. If the increased limit needed as a result of the increase in managed assets will exceed $25,000,000 part of
$38,000,000, then the
increase in limits will not occur unless advance written consent of the Underwriter is obtained.
ENDORSEMENT #7 (Continued)
| 2. |
Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations, conditions or agreements of the attached policy other than as
above stated. |
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #8
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| This rider, effective 12:01 a.m., |
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December 15, 2010 |
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forms a part of |
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|
| Bond number: |
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01-417-77-87 |
| Issued to: |
|
NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
COMPUTER SYSTEMS INSURING AGREEMENT (J)
In consideration of the premium charged the bond
is amended as follows:
I.
The bond is hereby amended by adding Insuring Agreement (J) to the bond as follows:
Loss resulting
directly from a fraudulent
| |
(1) |
entry of Electronic Data or Computer Program into, or |
| |
(2) |
change of Electronic Data or Computer Program within |
any Computer Systems operated by the Insured, whether owned or leased; or any Computer System identified in the application for this bond; or a Computer System first used by the Insured during the Bond
Period, as provided by General Agreement A of this bond;
provided that the entry or change causes
| |
(i) |
property to be transferred, paid or delivered, |
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(ii) |
an account of the Insured, or of its customer, to be added, deleted, debited or credited, or |
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(iii) |
an unauthorized account or a fictitious account to be debited or credited. |
ENDORSEMENT #8 (Continued)
II.
For the purpose of the coverage afforded by this Insuring Agreement, the following definitions shall be added to the policy:
“Fraudulent Entry” or “Fraudulent Change” shall include such entry or change made by an Employee of the Insured acting in good faith:
| |
(a) |
on an instruction from a software contractor who has a written agreement with the Insured to design, implement or service programs for a Computer System covered by this
Insuring Agreement, or |
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(b) |
on an instruction transmitted by Tested telex or similar means of Tested communication (except a Telefacsimile Device) identified in the application for this bond
purportedly sent by a customer, financial institution or automated clearinghouse; |
“Computer Program”
means a set of related electronic instructions which direct the operations and functions of a computer or devices connected to it which enable the computer or devices to receive, process, store or send Electronic Data;
“Computer Systems” means:
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1) |
computers with related peripheral components, including storage components wherever located, |
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2) |
systems and applications software, |
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4) |
related communication networks, including the Internet, |
by which Electronic Data are electronically collected, transmitted, processed, stored and retrieved;
“Electronic Data” means facts or information converted to a form usable in a Computer System by Computer Programs, and which is stored on magnetic tapes or disks, or optical storage disks or
other bulk media;
“Telefacsimile Device” means a machine capable of sending or receiving a duplicate image of a
document by means of electronic impulses transmitted through a telephone line and which reproduces the duplicate image on paper;
ENDORSEMENT #8 (Continued)
“Tested” means a method of authenticating the contents of a communication by
placing a valid test key on it which has been agreed upon between the Insured and a customer, automated clearing house, or another financial institution for the purpose of protecting the integrity of the communication in the ordinary course of
business;
“Internet” means worldwide public network of computers, which are commonly referred to as the
“internet”.
III.
For the purpose of the coverage afforded by this Insuring Agreement, the following exclusions shall be added to the policy:
| |
A. |
loss resulting directly or indirectly from the assumption of liability by the Insured by contract unless the liability arises from a loss covered by the Computer
Systems Insuring Agreement and would be imposed on the Insured regardless of the existence of the contract; |
| |
B. |
loss resulting directly or indirectly from negotiable instruments, securities, documents or other written instruments which bear a forged signature, or are counterfeit,
altered or otherwise fraudulent and which are used as source documentation in the preparation of Electronic Data or manually keyed into a data terminal; |
| |
C. |
loss resulting directly or indirectly from |
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1) |
mechanical failure, faulty construction, error in design, latent defect, fire, wear or tear, gradual deterioration, electrical disturbance or electrical surge which
affects a Computer System, or |
| |
2) |
failure or breakdown of electronic data processing media, or |
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3) |
error or omission in programming or processing; |
| |
D. |
loss resulting directly or indirectly from the input of Electronic Data into a Computer System terminal device either on the premises of a customer of the Insured or
under the control of such a customer by a person who had authorized access to the customer’s authentication mechanism; |
| |
E. |
loss resulting directly from the theft of confidential information |
ENDORSEMENT #8 (Continued)
IV.
Solely with respect to the coverage afforded by this endorsement, all loss or series of losses involving the fraudulent acts of one individual, or involving fraudulent acts in which one individual is
implicated, whether or not that individual is specifically identified, shall be deemed to be one loss and shall be limited to the applicable Limit of Liability stated in Item 3 of the Declarations of this bond irrespective of the total amount
of such loss or losses and shall not be cumulative in amounts from year to year or from period to period. A series of losses involving unidentified individuals but arising from the same method of operation shall be deemed to involve the same
individual and in that event shall be treated as a one loss and shall be limited to the applicable Limit of Liability as described above.
V.
Solely with respect to the coverage afforded by this endorsement, Section 2. EXCLUSIONS
(y) is deleted in its entirety.
ALL OTHER TERMS, CONDITIONS, AND EXCLUSIONS OF THE BOND REMAIN UNCHANGED
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #9
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| This rider, effective 12:01 a.m., |
|
December 15, 2010 |
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forms a part of |
|
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|
| Bond number: |
|
01-417-77-87 |
| Issued to: |
|
NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
COVERAGE TERRITORY ENDORSEMENT (OFAC)
THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ IT CAREFULLY.
Payment of loss under this policy shall only be made in full compliance with all United States of
America economic or trade sanction laws or regulations, including, but not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”).
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #10
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| This rider, effective 12:01 a.m., |
|
December 15, 2010 |
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forms a part of |
|
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|
| Bond number: |
|
01-417-77-87 |
| Issued to: |
|
NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
| By: |
National Union Fire Insurance Company of Pittsburgh, Pa. |
AMEND NAMED INSURED RIDER
In consideration of the premium charged, it is hereby
understood and agreed the Named of Insured listed in Item 1. of the DECLARATIONS (“Named Insured”) shall also include any of the Series and/or Trusts set forth below (including any Funds that are managed or advised within said Series
or Trust):
SERIES/TRUST
1. NATIXIS FUNDS TRUST I
2. NATIXIS FUNDS TRUST II
3. NATIXIS FUNDS TRUST IV
4. NATIXIS CASH
MANAGEMENT TRUST
5. GATEWAY TRUST
6. LOOMIS SAYLES FUNDS I
7. LOOMIS SAYLES FUNDS
II
8. HANSBERGER INTERNATIONAL SERIES
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED
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| AUTHORIZED REPRESENTATIVE |
ENDORSEMENT #11
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| This rider, effective 12:01 a.m., |
|
December 15, 2010 |
|
forms a part of |
|
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|
| Bond number: |
|
01-417-77-87 |
| Issued to: |
|
NATIXIS FUNDS, LOOMIS SAYLES FUNDS, AND HANSBERGER INTERNATIONAL SERIES |
FORMS INDEX ENDORSEMENT
The contents of the Policy is comprised of the following forms:
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| FORM NUMBER |
|
EDITION DATE |
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FORM TITLE |
| MNSCPT |
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INVESTMENT COMPANY BLANKET BOND DEC PAGE |
| MNSCPT |
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09/04 |
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INVESTMENT COMPANY BLANKET BOND GUTS |
| MNSCPT |
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AMENDED FIDELITY AGREEMENT |
| MNSCPT |
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AMEND DISCOVERY |
| MNSCPT |
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EMPLOYEE DISHONESTY |
| 99758 |
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08/08 |
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NOTICE OF CLAIM (REPORTING BY E-MAIL) |
| MNSCPT |
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VALUATION OF PROPERTY AMENDED |
| MNSCPT |
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COSURETY RIDER |
| MNSCPT |
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AMENDED CONSOLIDATION, MERGER, OR PURCHASE OF ASSETS OR |
| MNSCPT |
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COMPUTER SYSTEMS INSURING AGREEMENT (J) |
| 89644 |
|
07/05 |
|
COVERAGE TERRITORY ENDORSEMENT (OFAC) |
| MNSCPT |
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AMEND NAMED INSURED RIDER |
| 78859 |
|
10/01 |
|
FORMS INDEX ENDORSEMENT |
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| AUTHORIZED REPRESENTATIVE |