SEI
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INVESTMENT COMPANY BOND
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DECLARATIONS
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NAMED COMPANY AND ADDRESS
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PRODUCER
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Item 1.
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SEI Investments Management Corporation
(herein called Insured)
1 Freedom Valley Drive
Oaks, PA19456
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AON Risk Services, Inc. of Pennsylvania
1 Liberty Place 1650 Market Street, Suite 1000
Philadelphia, PA 19103
Attn.: Frank Paolucci
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CUSTOMER NUMBER
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INSURER
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85409
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Continental Insurance Company
333 S. Wabash Ave
Chicago, Illinois 60604
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POLICY NUMBER
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169906855
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Item 2.
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Policy Period: 8/19/2012 to 8/19/2013
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12:01 a.m. local time at the address stated in Item 1.
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Item 3.
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Policy Premium: $64.425 part of $214,750
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Item 4.
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Notices to Insurer:
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CNA Global Specialty Lines
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Attn: Director of Claims
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125 Broad Street, 7* Floor
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New York, NY 10004
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Item 5.
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Limits of Liability and Retentions:
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Coverage Part
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(1)
Included
(Yes or No)
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(2)
Scheduled
Limits of Liability
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(3)
Scheduled
Retentions*
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Investment Company Fidelity Bond
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Insuring Agreement 1.
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Fidelity
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Yes
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$40,000,000
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$150,000
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Insuring Agreement 2.
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Property
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Yes
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$40,000,000
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$150,000
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Insuring Agreement 3.
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Financial Documents
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Yes
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$40,000,000
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$150,000
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Insuring Agreement 4.
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Computer/Funds TransferTransfer
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Yes
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$40,000,000
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$150,000
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Insuring Agreement 5.
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Uncollectible Items of Deposit
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Yes
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$250,000
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$25,000
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Insuring Agreement 6.
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Stop Payment Order Liability
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Yes
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$250,000
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$25,000
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Insuring Agreement 7.
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Audit Expense
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Yes
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$250,000
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$25,000
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Insuring Agreement 8.
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Claims Expense
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Yes
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$250,000
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$5,000
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Other:
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Unauthorized Signatures
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Yes
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$500,000
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$25,000
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Toll Fraud
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Yes
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$1,000,000
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$50,000
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* Under Insuring Agreement 1. Fidelity, there shall be no retention applicable to loss sustained by any Investment Fund.
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G-138290-NA
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Ed. 11/06
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page 1 of 2
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SEI
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INVESTMENT COMPANY BOND
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DECLARATIONS
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Item 7.
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Riders/Endorsements forming a part of this Policy at issuance:
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GSL-17123NA
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Ed. 01/10
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Amend Definition of ABC Corp Insureds Endorsement
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GSL4167NA
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Ed. 11/04
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Toll Fraud
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SR-5261b
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Ed. 10/87
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Cosurety Rider
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GSL5260
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Ed, 12/04
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Omnibus Joint Loss Payee Rider
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SR6117
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Ed. 01/81
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Pennsylvania Notice
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SR 5969a
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Ed. 06/90
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Cancelation Rider
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F1G-4125-A
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Ed. 06/99
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Non-Cumulative Rider
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GSL5219
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Ed. 11/04
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Securities and Exchange Regulatory Compliance Rider
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GSL5304XX
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Ed. 12/04
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Unauthorized Signature Rider
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PR09482
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Ed. 07/07
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Trade and Economic Sanctions Endorsement
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G-138290-NA
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Ed. 11/06
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page 2 of 2
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SEI INVESTMENTS COMPANY BOND
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I.
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INSURING AGREEMENTS
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1.
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Fidelity
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2.
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Property
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3.
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Financial Documents
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a.
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acted on an Original Financial Document which bears a Forgery or Alteration upon which the ABC Corp. Insured relied;
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b.
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acted on an Original Financial Document that was, at the time the ABC Corp. Insured acted upon it, lost or stolen;
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c.
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acted in reliance on a Financial Document which is a Counterfeit; or
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d.
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guaranteed in writing or witnessed any signature on an assignment, bill of sale, endorsement, guarantee, or power of attorney which transfers a Financial Document or uncertificated security.
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i.
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the ABC Corp. Insured or its authorized custodial agent, or
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ii.
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a financial institution, or its authorized custodial agent to which the ABC Corp. Insured sold, in whole or in part, a loan for which the Financial Document represents collateral, but only if the ABC Corp. Insured remains liable to the institution by written contract to repurchase the loan.
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SEI INVESTMENTS COMPANY BOND
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4.
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Computer / Funds Transfer
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a.
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the fraudulent change, modification, or destruction of Electronic Data or Electronic Computer Instructions, including that caused by Computer Virus, (1) within a Computer System operated by an ABC Corp. Insured; or (2) while being electronically transmitted through communication lines, including satellite links, from a Computer System operated by an ABC Corp. Insured to a Computer System operated by a customer while the ABC Corp. Insured is acting as a Service Bureau for that customer; if the fraud was committed by a person acting to obtain a financial benefit;
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b.
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the fraudulent preparation or modification of Electronic Computer Instructions by a person intending to cause the Loss to the ABC Corp. Insured and to obtain a financial benefit;
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c.
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the fraudulent entry of data into a Computer System or Communications Terminal operated by an ABC Corp. Insured or an Electronic Communication Customer, from or apparently from another such Communication Terminal or Computer System if the data was not in fact sent by the ABC Corp. Insured or Electronic Communication Customer, or if the data were fraudulently modified during transit (physical or electronic) between Computer Systems or Communication Terminals;
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d.
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a fraudulent voice or telephone keypad initiated funds transfer instruction, directed to an ABC Corp. Insured by telephone from or purportedly from an Electronic Communication Customer, if the instruction was not made by or at the direction of a person who is authorized to initiate such a transfer according to the written agreement between the ABC Corp. Insured and the Electronic Communication Customer and if the instruction was Tested;
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e.
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a fraudulent communication by Fax or other Tested written communication sent or apparently sent between an ABC Corp. Insured and an Electronic Communication Customer if the communication was either not sent by the ABC Corp. Insured or Electronic Communication Customer, or was fraudulently modified during transit between the ABC Corp. Insured and the Electronic Communication Customer; or
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5.
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Uncollectible Items of Deposit
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a.
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the item was held for a minimum of 5 days before any redemption, withdrawal, dividend payment or share issuance occurs with respect to that item of deposit: and
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b.
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there was a redemption, withdrawal, dividend payment or share issuance with respect to that item of deposit.
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SEI INVESTMENTS COMPANY BOND
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6.
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Stop Payment Order Liability
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7.
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Audit Expense
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If Insuring Agreement 7 coverage is included as set forth in the Coverage Schedule of the Declarations, the Insurer shall indemnify ABC Corp. Insureds for expense incurred by an ABC Corp Insured for that part of the cost of audits or examinations required by any governmental regulatory authority to be conducted by the regulatory authority or an independent accountant by reason of the discovery of loss sustained through larceny or embezzlement committed by an officer or director.
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8.
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Claims Expense
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II.
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DEFINITIONS
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1.
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ABC Corp. means the company named in Item 1 of the Declarations, including such company as a debtor in possession under United States bankruptcy law or an equivalent status under the law of any other country.
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2.
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ABC Corp Insureds means ABC Corp. and Investment Funds scheduled in Endorsement 1.
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3.
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Alteration means material modification of a Financial Document by a person acting without authority and with the intent to deceive.
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4.
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Annual Period means each consecutive twelve month period commencing on the effective date of this policy.
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5.
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Application means all signed applications for this Policy and for any policy in an uninterrupted series of policies issued by the Insurer or any affiliate of the Insurer of which this Policy is a renewal or replacement. An "affiliate of the Insurer" means an insurer controlling, controlled by or under common control with the Insurer.
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6.
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Automated Clearing House means any corporation or association which operates an electronic clearing and transfer mechanism for the transfer of preauthorized recurring debits and credits between financial institutions on behalf of the financial institutions' customers.
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SEI INVESTMENTS COMPANY BOND
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7.
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Central Depository means any clearing corporation, including any Federal Reserve Bank of the United States, where as the direct result of an electronic clearing and transfer mechanism book entries are made reducing the account of the transferor, pledgor or pledgee and increasing the account of the transferee, pledgee or pledgor by the amount of the obligation or the number of shares or rights transferred, pledged or released.
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8.
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Computer System means computers with related peripheral components, including storage components wherever located; systems and applications software; terminal devices; and related communication networks; by which data are electronically collected, transmitted, processed, stored and retrieved.
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9.
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Communications Terminal means any teletype, teleprinter or video display terminal or similar device capable of sending or receiving information electronically and equipped with a keyboard.
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10.
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Computer Virus means a set of unauthorized instructions, programmatic or otherwise, that propagate themselves through a Computer System operated by an ABC Corp. Insured which were maliciously introduced into the system by a person other than by an identifiable Employee.
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11.
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Counterfeit means:
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a.
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with respect to certificated securities: an imitation which is intended to deceive, and resembles or apparently intends to resemble or to be taken as the original; or
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b.
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with respect to other Financial Documents: an imitation which is intended to deceive, and to be taken as the original.
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12.
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Electronic Communication means any communication initiated through a Computer System, a Fax, Telex, TWX and any other electronically transmitted communication.
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13.
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Electronic Communication Customer means:
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a.
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natural persons or entities authorized by written agreement with an ABC Corp. Insured to initiate funds transfer by Electronic Communication or by telephone;
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b.
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Automated Clearing Houses;
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c.
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offices of ABC Corp. Insureds;
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d.
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financial institutions; and
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e.
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Central Depositories handling Electronic Securities.
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14.
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Electronic Communication System means electronic communication systems operated by Fedwire, Clearing House Interbank Payment System (CHIPS), Society for Worldwide Interbank Financial Telecommunication (SWIFT), Clearing House Automated Payment System (CHAPS), an Automated Clearing House which is a member of the National Automated Clearing House Association and similar automated communication systems in use by ABC Corp Insureds.
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15.
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Electronic Computer Instructions means computer programs using facts or statements converted to a form usable in a Computer System to act upon Electronic Data.
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16.
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Electronic Data means facts or information converted to a form usable in a Computer System which are stored on Electronic Data Processing Media for use by computer programs.
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17.
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Electronic Data Processing Media means the punched cards, magnetic tapes, punched tapes or magnetic discs or other bulk media on which Electronic Data are recorded.
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18.
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Electronic Security means a share, participation or other interest in property of the issuer or an obligation of the issuer that:
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a.
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is of a type commonly dealt with in securities exchanges or markets; and
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b.
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is either one of a class or series, or by its terms is divisible into a class or series of shares, participations, interests or obligations; and
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c.
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i.
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is not represented by a paper certificate, or
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SEI INVESTMENTS COMPANY BOND
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ii.
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is part of a master or global paper certificate, or
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iii.
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represents a paper certificate that has been surrendered by a financial institution and has been combined into a master depository note with the paper certificates being immobilized and individually shown as an electronic entry on the account of the transferor, pledgor or pledgee on the books of a Central Depository.
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19.
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Employee means:
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a.
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an officer or other employee of an ABC Corp. Insured, while employed by that ABC Corp. Insured and a guest student performing studies or duties in any of said offices or premises;
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b.
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a director while acting as a member of any committee, duly elected or appointed by resolution of the board of directors of an ABC Corp. Insured, to perform specific directorial acts on behalf of that ABC Corp. Insured or while acting within the usual scope of duties of an employee;
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c.
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an attorney retained by an ABC Corp. Insured and any employee of such attorney while either is performing legal services for that ABC Corp. Insured;
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d.
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a person provided by an employment contractor to perform employee’s duties for an ABC Corp. Insured under that ABC Corp Insured’s supervision at any of that ABC Corp. Insured’s offices or premises covered hereunder;
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e.
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an employee of an institution merged or consolidated with an ABC Corp. Insured prior to the effective date of this Policy; and
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f.
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each natural personal, partnership or corporation (other than a customer, and other than a Federal Reserve bank or a clearing house, or any other bank while performing functions as a collecting bank), authorized by an ABC Corp. Insured to perform services as an electronic data processor of checks or other accounting records of that ABC Corp. Insured, after those checks are received or created by that ABC Corp. Insured, not including preparation or modification of computer software or programs (“processor”). Each such processor, and the partners, officers, and employees of such processor shall, collectively, be deemed to be one Employee.
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g.
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any partner, officer or employee of an investment adviser, an underwriter (distributor), a transfer agent or shareholder accounting recordkeeper, or an administrator for an ABC Corp. Insured only while performing acts coming within the usual and customary duties of an officer or employee of that ABC Corp. Insured or acting as a member of any committee duly elected or appointed to examine, audit or have custody of or access to property of that ABC Corp. Insured; provided that the adviser, underwriter, agent, recordkeeper or administrator is an affiliated person (as defined in Section 2(a) of the Investment Company Act of 1940) of that ABC Corp. Insured.
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20.
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False Pretense means a fraudulent representation made by a person:
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(1)
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at the time of transfer of the Property;
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(2)
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to an ABC Corp. Insured who was in possession of the Property immediately prior to the transfer; and
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(3)
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which directly results in the transfer of the Property.
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SEI INVESTMENTS COMPANY BOND
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21.
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Fax means a facsimile communication system or similar communication system utilizing teleprocessed imagery that produces a paper copy of a document, but does not include an Electronic Communication sent by telex, Twix or an Electronic Communication System.
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22.
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Financial Document means a physical document which:
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a.
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is a Negotiable Instrument;
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b.
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is a letter of credit;
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c.
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is a written instruction directed to an ABC Corp. Insured from, or purportedly from, a customer, Employee or financial institution of a type customarily prepared by a customer, Employee or financial institution and upon which that ABC Corp. Insured ordinarily acts to cause a deposit, withdrawal or transfer of funds;
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d.
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is considered as a matter of law to be primary evidence of:
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i.
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the right to ownership or possession of property; or
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ii.
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a debt owed directly or contingently:
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e.
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creates or discharges a lien on property;
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f.
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ordinarily has value transferred by endorsement or assignment coupled with delivery; or
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g.
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is Money,
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23.
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Fraudulent or Dishonest Acts means an act or acts undertaken by an Employee with the intent to: (1) cause an ABC Corp Insured to sustain the loss; and (2) obtain a financial benefit (other than wages, salary, commissions, bonuses or other perquisites of employment or any other benefit which an ABC Corp Insured knows that the Employee receives from his employment) for the Employee or another person whom the Employee intends to benefit.
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24.
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Forgery and Forged means the signing of the name of another person or organization without authority with intent to deceive; it does not include a signature consisting in whole or in part of one’s own name, signed with or without authority, in any capacity, for any purpose.
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25.
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Investment Fund means an investment company as defined under 15 USC 80a-3, which is required by SEC Regulation 17g-1 to maintain fidelity insurance.
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26.
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Loss means:
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a.
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loss of funds or Property owned by ABC Corp. Insured, but not loss of use of funds or Property;
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b.
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(i) loss of funds or Property owned by others for which an ABC Corp. Insured is legally liable, but not loss of use of those funds or Property, except for the loss of accrued interest or dividends; (ii) compensatory damages for which an ABC Corp. Insured is legally liable other than those for loss of use, bodily injury, mental or emotional distress, personal injury and any other injury to reputation; and
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c.
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Fees and expenses paid to persons who are not officers or other employees of an ABC Corp. Insured, in defending any claim brought against that ABC Corp. to the extent to which the allegations, if established, would constitute Loss covered under this Policy;
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SEI INVESTMENTS COMPANY BOND
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27.
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Money means a medium of exchange in current use authorized or adopted by a domestic or foreign government as part of its currency.
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28.
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Negotiable Instrument means any document which:
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a.
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is signed by the maker or drawer;
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b.
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contains any unconditional promise or order to pay a sum certain in Money and no other promise, order, obligation or power given by the maker or drawer;
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c.
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is payable on demand or at a definite time; and
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d.
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is payable to order or bearer.
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29.
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Original Financial Document means a Financial Document which has been completed, with or without signature, by persons who were acting with authority in completing the document at the time it was completed.
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30.
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Policy Period means the period from the effective date of this Policy to the Policy expiration date stated in Item 2 of the Declarations, or its earlier cancellation date.
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31.
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Policy Premium means the original premium and the fully annualized amount of any additional premiums charged by the Insurer for or during the Policy Period.
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32.
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Pollutants means any substance exhibiting hazardous characteristics as or may be defined or identified on any list of hazardous substances issued by the United States Environmental Protection Agency or any state or local or foreign counterpart. Pollutants also means, without limitation, any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals or waste (including materials to be recycled, reconditioned or reclaimed), as well as any air emission, odor, waste water, oil or oil products, infectious or medical waste, asbestos, or asbestos products or any noise.
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33.
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Property means Financial Documents, gems, jewelry, precious metals in bars or ingots, and all other tangible items of personal property owned by an ABC Corp. Insured or for which it is legally liable, other than as lessee.
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34.
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Service Bureau means a person or entity authorized by written agreement to perform data processing services for others using Computer Systems.
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35.
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Single Loss means:
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a.
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all Loss caused by one person or in which any single person is implicated; or
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b.
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all Loss arising out of any event, transaction or occurrence if not caused by a single person or if no single person is concerned or implicated.
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36.
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Takeover means:
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a.
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the acquisition by another entity or person, or group of entities and/or persons acting in concert, of (i) the ownership or control of voting stock of ABC Corp. resulting in the ownership or control of more than 50% of the voting stock of ABC Corp. or (ii) assets of ABC Corp. resulting in the ownership of more than 50% of the total consolidated assets of ABC Corp, as of the date of ABC Corp's most recent audited consolidated financial statement prior to such acquisition;
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SEI INVESTMENTS COMPANY BOND
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b.
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the merger of ABC Corp. into another entity such that ABC Corp. is not the surviving entity;
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c.
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the consolidation of ABC Corp. with another entity; or
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d.
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the appointment of a receiver, conservator, liquidator, trustee, rehabilitator, or similar official to take control of, supervise, manage, or liquidate ABC Corp. or any other taking over of, or taking control of, ABC Corp. by any governmental agency, body or representative, or ABC Corp. becoming a debtor in possession under United States bankruptcy law or an equivalent status under the law of any other country.
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37.
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Tested means:
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a.
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as respects a Fax or other written communication: a method of authenticating the contents of a telefacsimile by affixing to it a valid test key that has been exchanged between an ABC Corp. Insured and a customer, an office of that ABC Corp. Insured or another financial institution; and
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b.
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as respects voice: a call-back by an ABC Corp. Insured prior to acting on the instruction to a person authorized by written agreement with an ABC Corp. Insureds to authenticate the instruction, other than a call to the person who purportedly initiated the instruction, provided the instruction and call-back are recorded
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c.
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as respects telephone keypad: (i) the required entry of a personal identification_(PIN) by the initiator prior to the transaction; (ii) a refusal to proceed with the transaction by the system if the correct PIN is not input by the initiator within three attempts; (iii) a written confirmation of the transaction is sent to the customer within five business days, requesting the customer to verify the transaction; and (iv) the logging or other recording of the transaction in retrievable form.
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38.
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Theft means robbery, burglary, and any other unlawful taking not accomplished by trick or false representation.
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III.
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EXCLUSIONS
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1.
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Exclusions Applicable to All Insuring Agreements
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a.
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resulting directly or indirectly from loss of trade secrets, confidential processing methods, customer lists, or other confidential or proprietary Information;
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b.
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resulting from transactions in customers accounts, whether authorized or unauthorized, except for the unlawful withdrawal and conversion of Money, securities or precious metals directly from a customers account by an Employee provided such withdrawal and conversion is covered under Insuring Agreement 1;
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c.
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to one or more ABC Corp. Insureds which benefits another ABC Corp. Insureds;
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d.
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caused by a customer after discovery by a director, officer or partner of any ABC Corp. Insured of an actual or potential Loss covered hereunder caused by that customer;
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e.
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resulting directly or indirectly from:
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(1)
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riot or civil commotion outside any country in which ABC Corp. Insureds have an office which is permanently staffed by an Employee, or loss due to war or insurrection, except for loss of Property in transit, if when such transit was initiated, there was no knowledge of such riot, civil commotion, war or insurrection on the part of ABC Corp. Insureds in initiating such transit;
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SEI INVESTMENTS COMPANY BOND
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(2)
|
the effect 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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(3)
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any event with respect to which notice has been given prior to the effective date of this Coverage Part under any policy or bond providing the same or similar coverage to that afforded under this Coverage Part, whether or not the event is covered by that other policy or bond;
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(4)
|
any event which is not reported in the form and substance provided in Section VII ATTACHMENT/NOTICE;
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f.
|
which could have been recovered, but was not recovered, due to the failure of ABC Corp. Insureds to pursue reasonable efforts to make recovery from persons responsible for causing it;
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g.
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which amounts to penalties or fines, or any damages or settlements which do not meet the definition of Loss.
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2.
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Exclusions Applicable to Insuring Agreement 1 Only
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3.
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Exclusions Applicable to Insuring Agreement 2 Only
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a.
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of Property lost while in customers' safe deposit boxes;
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b.
|
of Property surrendered away from an office or premises of ABC Corp Insureds 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 ABC Corp. Insureds of any such threat; or
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(2)
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to do damage to the offices, premises or property of ABC Corp. Insureds.
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c.
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of Property lost while in the mail;
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d.
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of Electronic Data Processing Media or Electronic Data lost in transit other than by armored motor vehicle; or
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e.
|
of personal property not specifically enumerated in the definition of Property, for which an ABC Corp. Insured is legally liable if an ABC Corp Insured has any other insurance, regardless of amount, under which the property is covered; and in all events after 60 days from the date an ABC Corp. Insured became legally liable for the property; or
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f.
|
resulting directly or indirectly from:
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(1)
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theft or any other dishonest or fraudulent act committed by an Employee;
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(2)
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any forgery, alteration or counterfeiting;
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(3)
|
erroneous credits to a depositor's account, unless payment or withdrawal is physically received by the depositor or representative of the depositor who is within the office of an ABC Corp. Insured at the time of the payment or withdrawal;
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(4)
|
items of deposit which are not finally paid or for which provisional credit is otherwise properly revoked for any reason, including but not limited to forgery or any other fraud;
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(5)
|
Electronic Communications or telephonic communications; or
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SEI INVESTMENTS COMPANY BOND
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(6)
|
any transaction which is or purports to be: (i) a loan or other extension of credit to or from ABC Corp. Insureds, including the acquisition of false or genuine accounts, invoices, notes or agreements; or (ii) trading, with or without knowledge of ABC Corp. Insureds and whether or not involving fictitious accounts;
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(7)
|
the use or purported use of credit, debit, charge, access, convenience, or identification cards.
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4.
|
Exclusions Applicable to Insuring Agreement 3 Only
|
|
Insuring Agreement 3 does not apply to Loss resulting directly or indirectly from:
|
|
a.
|
theft or any other dishonest or fraudulent act committed by an Employee;
|
|
b.
|
the insolvency of another financial or depository institution;
|
|
c.
|
any document which is presented as a copy;
|
|
d.
|
items of deposit which are not finally paid, or for which provisional credit is otherwise properly revoked, for any reason, including, but not limited to forgery or any other fraud; or
|
|
e.
|
a fraudulent entry of data into, or change, modification, or destruction of data elements or programs within a Computer System operated or used by an ABC Corp. Insured
|
|
5.
|
Exclusions Applicable to Insuring Agreement 4 Only
|
|
a.
|
theft or any other dishonest or fraudulent act committed by an Employee;
|
|
b.
|
insolvency of another financial institution;
|
|
c.
|
liability assumed by an ABC Corp. Insured under any contract unless such liability would have attached to such ABC Corp. Insured in the absence of such agreement;
|
|
d.
|
a threat to do bodily harm to any person, or to do damage to the premises or property of an ABC Corp. Insured;
|
|
e.
|
forged, altered, counterfeit or otherwise fraudulent Financial Documents used as source documentation in the preparation of Electronic Data or manually keyed in a Communication Terminal;
|
|
f.
|
Financial Documents except as converted to Electronic Data and then only in such converted form;
|
|
g.
|
the accessing of any confidential information, including but not limited to trade secret information, computer programs or customer information;
|
|
h.
|
mechanical failure, faulty construction, error in design, latent defect, wear or tear, gradual deterioration, electrical disturbance, Electronic Data Processing Media failure or breakdown, any malfunction or error in programming, or errors or omissions in processing;
|
|
i.
|
the input of Electronic Data at an authorized terminal of an electronic funds transfer system or a customer communication system by a customer or other person who had authorized access to the customer's authentication mechanism; or
|
|
j.
|
fraudulent features contained in Electronic Computer Instructions developed for sale to, or that are sold to, multiple customers at the time of their acquisition from a vendor or consultant.
|
SEI INVESTMENTS COMPANY BOND
|
|
k.
|
The use or attempted use of credit, debit, charge, access, convenience or identification cards.
|
|
6.
|
Exclusions Applicable to Insuring Agreement 6. Only
|
|
Insuring Agreement 6 does not apply to Loss resulting directly or indirectly from:
|
|
a.
|
theft of any other dishonest or fraudulent act committed by an Employee; or
|
|
b.
|
the insolvency of another financial or depository institution
|
|
c.
|
the use or purported use of credit, debit, charge, access, convenience or identification cards.
|
IV.
|
LIMITS OF LIABILITY
|
V.
|
SETTLEMENT/ALLOCATION
|
|
1.
|
Insurer's Consent
|
SEI INVESTMENTS COMPANY BOND
|
|
2.
|
Defense of Claims
|
|
3.
|
Allocation of Loss
|
VI.
|
ATTACHMENT/NOTICE
|
|
a.
|
the date and circumstances surrounding the first awareness the ABC Corp. Insured had of the Loss;
|
|
b.
|
sufficient detail to provide a reasonable basis for believing that any Loss may be covered under an Insuring Agreement;
|
|
c.
|
the amount of actual Loss known and an estimate of the total amount of Loss expected to result; and
|
|
d.
|
a description of all known resources from which set off or subsequent recovery to reduce the Loss may be had.
|
SEI INVESTMENTS COMPANY BOND
|
VII.
|
CANCELLATION
|
VIII.
|
NOTICES TO THE NAMED COMPANY
|
|
Any notices required under Section VI. CANCELLATION shall be provided to ABC Corp. at its last known address and to its insurance agent or broker. The mailing by certified mail of such notice shall be sufficient.
|
IX.
|
OTHER INSURANCE
|
X.
|
APPLICATION
|
|
1.
|
The ABC Corp. Insureds represent and acknowledge that the statements contained in the Application and any materials submitted or required to be submitted therewith (all of which shall be maintained on file by the Insurer and be deemed attached to and incorporated into this Policy as if physically attached), are true and: (i) are the basis of this Policy and are to be considered as incorporated into and constituting a part of this Policy; and (ii) shall be deemed material to the acceptance of this risk or the hazard assumed by the Insurer under this Policy. This Policy is issued in reliance upon the truth of such representations.
|
|
2.
|
In the event the Application, including materials submitted or required to be submitted therewith, contains any willful misrepresentation or omission:
|
|
a.
|
made with the intent to deceive, or
|
|
b.
|
which materially affects either the acceptance of the risk or the hazard assumed by the Insurer under the Policy;
|
XI.
|
COVERAGE FOR NEW INVESTMENT FUNDS
|
|
1.
|
If, after the effective date of this Policy, an ABC Corp. Insured creates or acquires any new Investment Fund, then such fund shall be covered under this Policy, subject to its terms and conditions, only if:
|
|
a.
|
the fair value of all cash, securities, assumed indebtedness and other consideration paid by the ABC Corp Insured does not exceed 10% of the total consolidated assets of all ABC Corp Insureds. as of the date of ABC Corp.'s most recent audited consolidated financial statement prior to such transaction; and
|
|
b.
|
the total combined limit of liability for all ABC Corp Insureds, as required by SEC Regulation 17g-1, including the newly acquired or created fund, does not exceed $50,000,000;or
|
|
c.
|
other than as described in paragraphs a-b immediately above, the Insurer, at its sole option upon submission of such information as the Insurer may require, and payment of any additional premium and/or amendment of the provisions of the Policy, agrees to provide coverage for such funds.
|
|
2.
|
There is no coverage under this policy for any event discovered prior to the effective date of such creation, merger or acquisition, either by an ABC Corp. Insured, or by the created, acquired or merged entity.
|
SEI INVESTMENTS COMPANY BOND
|
XII.
|
CHANGE OF STATUS OF INSUREDS
|
|
1.
|
Takeover of ABC Corp.
|
|
2.
|
Cessation of Individual Insured Status
|
XIII.
|
LOSS VALUATION
|
|
1.
|
Loss Valuation
|
|
2.
|
Money
|
|
3.
|
Other Financial Documents
|
SEI INVESTMENTS COMPANY BOND
|
|
4.
|
Books of Account and Other Records
|
|
5.
|
Other Property
|
|
6.
|
Set Off
|
|
a.
|
any amount owed by any ABC Corp. Insured to any person who is legally liable for the Loss to the extent any ABC Corp. Insured has a right of set off to that amount; and
|
|
b.
|
all money and property received by any ABC Corp. Insured from any source in connection with any matter from which a Loss has arisen, including payment of principal, interest, dividends, commissions and the like, whenever and however paid.
|
XIV.
|
SUBROGATION AND RECOVERY
|
|
1.
|
To the extent it pays any Loss, the Insurer shall be subrogated to all the ABC Corp. Insureds' rights of recovery therefor. The ABC Corp. Insureds shall execute all papers necessary to secure such rights, including executing any documents necessary to enable the Insurer effectively to bring suit in their name, and shall take no action which impairs the Insurer's rights of subrogation or recovery.
|
|
2.
|
If a Single Loss is in part insured and in part uninsured under this Policy or is in an amount in excess of the applicable Limit of Liability, the ABC Corp. Insureds and the Insurer shall attempt to agree upon an equitable allocation of any recoveries made, whether before or after payment of the Loss by the Insurer, from any person or source responsible for causing the Loss. Reasonable expenses incurred in making a recovery shall always have priority of payment from all such recoveries. If, after exerting their best efforts, the ABC Corp. Insureds and the Insurer are unable to agree upon such an allocation after taking into account due consideration for the respective parties' willingness to pay the expenses of making any recovery, the Insurer, if requested by the ABC Corp. Insureds, shall submit the dispute to binding arbitration. The rules of the American Arbitration Association shall apply except with respect to the selection of the arbitration panel, which shall consist of one arbitrator selected by the ABC Corp. Insureds, one arbitrator selected by the Insurer, and a third independent arbitrator selected by the first two arbitrators.
|
SEI INVESTMENTS COMPANY BOND
|
|
3.
|
In no event shall the ABC Corp. Insureds be entitled to recoup from recoveries any amount to satisfy any Retention until after all amounts which the Insurer is required to pay or pays under any applicable Coverage Part are reimbursed to the Insurer.
|
|
4.
|
Any allocation of recoveries for purposes of this Section XVI shall not change any provisions dealing with calculation of Loss.
|
XV.
|
CHANGES
|
|
Notice to or knowledge possessed by any agent or other person acting on behalf of the Insurer shall not effect a waiver or a change in any part of this Policy or stop the Insurer from asserting any right under the provisions of this Policy, nor shall the provisions be waived or changed except by written endorsement issued to form a part of this Policy.
|
XVI.
|
COMPANY AUTHORIZATION
|
|
1.
|
The ABC Corp. Insureds agree that ABC Corp. will act on behalf of the ABC Corp. Insureds with respect to giving of all notice to the Insurer (except notices provided in Section VII.1 or 2), the receipt of notices from the Insurer, the payment of the premiums, the receipt of any return premiums that may become due under this Policy, and the agreement to and acceptance of endorsements.
|
|
2.
|
Payment of Loss to ABC Corp. shall discharge the Insurer from all further obligations with respect to such Loss, regardless of which ABC Corp. Insured sustained the Loss.
|
XVII.
|
NO ACTION AGAINST INSURER
|
|
1.
|
No action shall be taken against the Insurer unless, as a condition precedent, there shall have been full compliance with all the provisions of this Policy.
|
|
2.
|
No person or organization shall have any right under this Policy to join the Insurer as a party to any claim against the ABC Corp. Insureds to determine the ABC Corp. Insureds' liability, nor shall the Insurer be impleaded by the ABC Corp. Insureds or their legal representatives in any such claim.
|
|
3.
|
Legal proceedings for the recovery of any Loss shall not be brought prior to the expiration of sixty (60) days after written notice of the event was received by the Insurer or more than twelve (12) months after the Insurer has advised ABC Corp. in writing that there is no coverage for the event.
|
XVIII.
|
ASSIGNMENT OF INTEREST
|
|
Assignment of interest under this Policy shall not bind the Insurer unless its consent is endorsed to this Policy.
|
XIX.
|
TERRITORY
|
|
Coverage shall apply worldwide.
|
XX.
|
ENTIRE AGREEMENT
|
SEI INVESTMENTS COMPANY BOND
|
Secretary
|
Chairman of the Board
|
2.
|
ABC Corp. Insureds means ABC Corp. and Investment Funds listed below as well as any new
|
GSL17123NA(1-10)
|
Policy No:
|
169906855 | |
Page 1
|
Endorsement No:
|
1 | |
Insured Name: SEI Investments Management Corporation
|
Effective Date:
|
||
© CNA All Rights Reserved.
|
1.
|
loss caused or contributed to by any fraudulent dishonest or criminal act committed by an Employee, director or trustee of the Insured or any other individual authorized by the Insured to use Telephone Systems, whether acting along or in collusion with others;
|
2.
|
loss sustained as a result of an extortion payment surrendered to any person as a result of a threat to do damage to the premises or a Telephone System owned by the Insured or for which the Insured is legally liable;
|
3.
|
loss caused by the fraudulent, unlawful or unauthorized use of a Calling Card;
|
GSL4167NA (11-04)
|
Policy No:
|
169794798
|
|
Page 1
|
Endorsement No:
|
2 | |
Effective Date:
|
|||
© CNA All Rights Reserved.
|
1.
|
The term "Underwriter" as used in the attached bond shall be construed to mean, unless othenwise specified in this rider, all 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 Limit 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 premiums directly to it, premiums for the attached bond may be paid to the Controlling Company for the account of all of 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 of said Companies as an entirety or as to such Employee, as the case may be.
|
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 cancelation 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 cancelation to such other Company, and shall send copy of such notice to the Controlling Company.
|
Must be Completed |
Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
|
|||
ENDT. NO.
3
|
POLICY NO.
169906855
|
ISSUED TO |
EFFECTIVE DATE OF
THIS ENDORSEMENT
|
Countersigned by | ||
Authorized Representative
|
SR-5261b
|
Page 1 of 3 |
Underwritten for the sum of $12,000,000
except as follows:
|
Controlling Company
Continental Casualty Company
|
N/A
|
By:_________________________
|
Underwritten for the sum of $10,400,000
except as follows:
|
St. Paul Fire & Marine Insurance Company
|
N/A
|
By:_________________________
|
Underwritten for the sum of $8,800,000
except as follows:
|
Axis Reinsurance Company
|
Must be Completed |
Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
|
|||
ENDT. NO.
3
|
POLICY NO.
169906855
|
ISSUED TO |
EFFECTIVE DATE OF
THIS ENDORSEMENT
|
Countersigned by | ||
Authorized Representative
|
SR-5261b
|
Page 2 of 3 |
N/A
|
|
By:_________________________
|
|
Underwritten for the sum of $8,800,000
except as follows:
|
Federal Insurance Company
|
N/A | |
By:_________________________ | |
Accepted: | |
By: |
Must be Completed |
Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
|
|||
ENDT. NO.
3
|
POLICY NO.
169906855
|
ISSUED TO |
EFFECTIVE DATE OF
THIS ENDORSEMENT
|
Countersigned by | ||
Authorized Representative
|
SR-5261b
|
Page 3 of 3 |
1.
|
Loss, if any, under Coverage Part D shall be adjusted with SEI Investments Corporation Insureds and shall be paid to SEI Investments Corporation Insureds and any entity with whom SEI Investments Corporation Insureds have contracted to do business pursuant to a written agreement, (hereinafter referred to as "Loss Payee") in whatever form or capacity their interest may appear.
|
2.
|
It is understood that any payment made jointly under this Coverage Part D to SEI Investments Corporation Insureds and any Loss Payee shall be construed to be payment to SEI Investments Corporation Insureds and shall satisfy the Underwriter's liability to SEI Investments Corporation Insureds under the Policy.
|
3.
|
This endorsement does not confer any rights, benefits or privileges upon the Loss Payee other than that of a joint payee on any loss payment under this Coverage Part D.
|
4.
|
The limit of the Underwriter's liability shall not be modified by the inclusion of such Loss Payee on any loss payment under this Coverage Part D.
|
GSL5260 (12-04)
|
Policy No:
|
169906855
|
|
Page 1
|
Endorsement No:
|
4
|
|
Effective Date:
|
|||
Insured Named: SEI Investments Management Corporation
|
|||
© CNA All Rights Reserved.
|
1.
|
surveys;
|
2.
|
consultation or advice; or
|
3.
|
inspections.
|
1.
|
if the injury, death or loss occurred during the actual performance of the services and was caused by the negligence of the insurance company, its agents, employees or service contractors;
|
2.
|
to consultation services required to be performed under a written service contract not related to a policy of insurance; or
|
3.
|
if any acts or omissions of the insurance company, its agents, employees or service contractors are judicially determined to constitute a crime, actual malice, or gross negligence.
|
SR 6117 (10-81)
|
Policy No:
|
169906855
|
|
Page 1
|
Endorsement No:
|
5
|
|
Continental Insurance Company
|
Effective Date:
|
||
Insured Name: SEI Investments Management Corporation
|
|||
© CNA All Rights Reserved.
|
CANCELATION RIDER
FOR USE WITH FINANCIAL INSTITUTION BOND, STANDARD FORM NO. 14, WHEN ISSUED TO THOSE MEMBER FIRMS OF THE NATIONAL ASSOCIATION OF SECURITIES DEALERS WHO HAVE EMPLOYEES AND ARE REQUIRED TO JOIN THE SECURITIES INVESTOR PROTECTION CORPORATION, AND WHO ARE SUBJECT TO RULE 15C3-1 UNDER THE SECURITIES EXCHANGE ACT OF 1934, TO PROVIDE FOR NOTICE OF CANCELATION OR SUBSTANTIAL MODIFICATION TO SUCH ASSOCIATION. REVISED TO JUNE, 1990.
|
SR 5969a (6-90)
|
Policy No:
|
169906855
|
|
Page 1
|
Endorsement No:
|
6
|
|
Continental Insurance Company
|
Effective Date:
|
||
Insured Name: SEI Investments Management Corporation
|
|||
© CNA All Rights Reserved.
|
Must be Completed |
Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
|
|||
ENDT. NO.
7
|
POLICY NO.
169906855
|
ISSUED TO |
EFFECTIVE DATE OF
THIS ENDORSEMENT
|
Countersigned by | ||
Authorized Representative
|
1.
|
a copy of the bond and any amendment promptly after the execution of the bond,
|
2.
|
a copy of each formal filing of a claim under the bond by any other named insured promptly after receipt of the claim, and
|
3.
|
notification of the terms of settlement of each such claim prior to the execution of the settlement.
|
GSL5219(11-04) |
Policy No:
|
169906855 | |
Page 1
|
Endorsement No:
|
8
|
|
Continental Insurance Company
|
Effective Date:
|
||
Insured Named: SEI Investments Management Corporation
|
|||
© CNA All Rights Reserved.
|
1.
|
The following is added to the INSURING AGREEMENT section:
|
1.
|
Loss resulting by reason of the Insured having accepted, paid or cashed any check or withdrawal order or draft, made or drawn on a customer's account which bears the signature or endorsement of one other than a person whose name and signature is on the application on file with the Insured as a signatory on such account.
|
2.
|
It shall be a condition precedent to the Insured's right of recovery under this rider that the Insured shall have on file signatures of all persons who are authorized signatories on such account.
|
2.
|
The following is added to Section 4.LIMIT OF LIABILITY:
|
GSL5304XX (12-04)
|
Policy No:
|
169906855 | |
Page 1
|
Endorsement No:
|
9
|
|
Continental Insurance Company
|
Effective Date:
|
||
© CNA All Rights Reserved.
|
PR09482 (7-07)
|
Policy No:
|
169906855
|
|
Page 1
|
Endorsement No:
|
10
|
|
Continental Insurance Company
|
Effective Date:
|
||
Insured Name: SEI Investments Management Corporation
|
|||
© CNA All Rights Reserved.
|
VOTED:
|
That the Trustees find that the participation in the Joint Fidelity Bond is in the best interests of The Advisors’ Inner Circle Fund, The Advisors’ Inner Circle Fund II, and the Bishop Street Funds (each a “Trust” and collectively, the “Trusts”), and that the proper officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, a Joint Fidelity Bond on behalf of the Trusts in the amount of $40 million per occurrence.
|
VOTED:
|
That the Trustees find that the premium is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which each Trust pays no more than its pro-rata share of the premium based on relative asset size and, in any event, the Trusts would pay no more than the premium of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies obtained by the Trusts participating in the Joint Fidelity Bond;
|
VOTED:
|
That the proper officers of the Trusts hereby are authorized to execute and deliver an Agreement (attached hereto as Exhibit A) on behalf of the Trusts regarding the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940 (the “1940 Act”);
|
VOTED:
|
That the officers of the Trusts are hereby directed to:
|
CAUSEWAY CAPITAL MANAGEMENT TRUST
|
RESOLVED:
|
That the Trustees find that the participation by the Trust in the Joint Fidelity Bond presented to this meeting (the “Joint Fidelity Bond”) is in the best interests of the CNI Charter Funds (the “Funds”), and that the proper officers of the Trust are authorized to execute, with the advice of legal counsel to the Trust, such Joint Fidelity Bond on behalf of the Trust in the amount of $40 million.
|
RESOLVED:
|
That the Trustees find that the premium payable by the Trust for such Joint Fidelity Bond is fair and reasonable to the Trust provided that the allocation of the premium be in accordance with a formula under which each Fund pays no more than its pro-rata share of the premium based on relative asset size and, in any event, the Trust pays no more than the premium for an individual policy and no more than the share of the joint premiums for such joint Fidelity Bond based on the relative premiums which would apply to individual policies obtained by the entities participating in the Joint Fidelity Bond.
|
RESOLVED:
|
That the proper officers of the Trust are authorized to execute and deliver an Agreement in the form presented to this meeting on behalf of the Trust regarding the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940.
|
RESOLVED:
|
That the officers of the Trust are hereby directed to:
|
RESOLVED:
|
That the Trust and its Trustees and officers from time to time be named as insured under a Directors & Officers Professional Liability (D&O/E&O) Policy (“D&O/E&O Policy”) issued through a reputable insurance company with a minimum limit of $20 million covering such Fund and its Trustees and officers generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities;
|
RESOLVED:
|
That the Trustees find that participation in such D&O/E&O Policy is in the best interests of the Trust and that any proper officer of the Trust is authorized to execute, with the advice of legal counsel to the Trust, such a D&O/E&O Policy on behalf of the Trust.
|
RESOLVED:
|
That the Trustees find that the premium for such D&O/E&O Policy as presented to this meeting is fair and reasonable.
|
SEI ASSET ALLOCATION TRUST
|
By
|
|
SEI DAILY INCOME TRUST
|
By
|
|
SEI INSTITUTIONAL INTERNATIONAL TRUST
|
By
|
|
SEI INSTITUTIONAL INVESTMENTS TRUST
|
By
|
|
SEI INSTITUTIONAL MANAGED TRUST
|
By
|
|
SEI LIQUID ASSET TRUST
|
By
|
|
SEI TAX EXEMPT TRUST
|
By
|
|
SEI ALPHA STRATEGY PORTFOLIOS, LP
|
By
|
|
NEW COVENANT FUNDS
|
By:
|
|
SEI STRUCTURED CREDIT FUND, LP
|
By
|
|
ADVISER MANAGED TRUST
|
By
|
|
THE ADVISORS’ INNER CIRCLE FUND
|
By
|
|
THE ADVISORS’ INNER CIRCLE FUND II
|
||
(f/k/a THE ARBOR FUND)
|
By
|
|
BISHOP STREET FUNDS
|
By
|
|
CNI CHARTER FUNDS
|
By
|
|
CAUSEWAY CAPITAL MANAGEMENT TRUST
|
By
|
|
SEI INVESTMENTS MANAGEMENT CORP.
|
By
|
|
SEI INVESTMENTS DISTRIBUTION CO.
|
By
|
|
SEI GLOBAL SERVICES, INC.
|
By
|
|
SEI INVESTMENTS GLOBAL FUNDS SERVICES
|
By
|
|
1.
|
Unless otherwise specified, capitalized terms used in this Addendum are defined as set forth in the Agreement.
|
|
2.
|
New Insured represents that (a) it satisfies the requirements of Rule 17g-1(b) and (j) under the Act for inclusion in the Bond; and (b) such investment company has retained an SEI Service Entity to provide services to it.
|
|
3.
|
New Insured agrees to be bound by all the terms of the Agreement.
|
|
4.
|
New Insured shall deliver a copy of this executed Addendum to each Insured.
|
RESOLVED:
|
That the Trustees, including a majority of the independent Trustees, find that the participation in the Joint Fidelity Bond is in the best interests of the SEI Asset Allocation Trust, SEI Daily Income Trust, SEI Institutional Managed Trust, SEI Institutional Investments Trust, SEI Liquid Asset Trust, SEI Institutional International Trust, SEI Tax Exempt Trust, SEI Alpha Strategy Portfolios, LP, Adviser Managed Trust and New Covenant Funds (each, a “Trust” and together, the “Trusts”), and that the proper officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, a Joint Fidelity Bond on behalf of the Trusts in the amount of $40 million;
|
RESOLVED:
|
That the Trustees, including a majority of the independent Trustees, find that the premium is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which each Trust pays no more than its pro-rata share of the premium based on relative asset size and, in any event, the Trusts would pay no more than the premium of an individual policy and no more than the share of the joint premiums based on the relative premiums that would apply to individual policies obtained by the Trusts participating in the Joint Fidelity Bond;
|
RESOLVED:
|
That the proper officers of the Trusts be, and they hereby are, authorized to execute and deliver an Agreement (attached hereto as Appendix A) on behalf of the Trusts regarding the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940, as amended (the “1940 Act”);
|
RESOLVED:
|
That the officers of the Trusts are hereby directed to:
|
SEI ASSET ALLOCATION TRUST
|
By
|
|
SEI DAILY INCOME TRUST
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By
|
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SEI INSTITUTIONAL INTERNATIONAL TRUST
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By
|
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SEI INSTITUTIONAL INVESTMENTS TRUST
|
By
|
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SEI INSTITUTIONAL MANAGED TRUST
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By
|
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SEI LIQUID ASSET TRUST
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By
|
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SEI TAX EXEMPT TRUST
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By
|
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SEI ALPHA STRATEGY PORTFOLIOS, LP
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By
|
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ADVISER MANAGED TRUST
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By
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NEW COVENANT FUNDS
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By
|
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SEI STRUCTURED CREDIT FUND, L.P.
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By
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THE ADVISORS’ INNER CIRCLE FUND
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By
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THE ADVISORS’ INNER CIRCLE FUND II
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||
(f/k/a THE ARBOR FUND)
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By
|
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BISHOP STREET FUNDS
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By
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CNI CHARTER FUNDS
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By
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CAUSEWAY CAPITAL MANAGEMENT TRUST
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By
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SEI INVESTMENTS MANAGEMENT CORP.
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By
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SEI INVESTMENTS DISTRIBUTION CO.
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By
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SEI GLOBAL SERVICES, INC.
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By
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SEI INVESTMENTS GLOBAL FUNDS SERVICES
|
By
|
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1.
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Unless otherwise specified, capitalized terms used in this Addendum are defined as set forth in the Agreement.
|
|
2.
|
New Insured represents that (a) it satisfies the requirements of Rule 17g-1(b) and (j) under the Investment Company Act of 1940, as amended, for inclusion in the Bond; and (b) such investment company has retained an SEI Service Entity to provide services to it.
|
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3.
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New Insured agrees to be bound by all the terms of the Agreement.
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4.
|
New Insured shall deliver a copy of this executed Addendum to each Insured.
|
RESOLVED:
|
That the Directors find that the participation in the Joint Fidelity Bond is the best interests of the SEI Structured Credit Fund, L.P. (the “Fund”), that the proper officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Fund, a Joint Fidelity Bond on behalf of the Fund in the amount of $40 million.
|
RESOLVED:
|
That the Directors find that the premium is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which each fund pays no more than its pro-rata share of the premium based on relative asset size and, in any event, the Fund would pay no more than the premium of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies obtained by the funds participating in the Joint Fidelity Bond.
|
RESOLVED:
|
That the proper officers of the Fund hereby are authorized to execute and deliver an Agreement (attached hereto as Exhibit A) on behalf of the Fund regarding the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940.
|
RESOLVED:
|
That the officers of the Fund are hereby directed to:
|
Company
|
Assets
|
Minimum Amount of Bond
|
Advisors’ Inner Circle Fund
|
$13,089,062,300
|
2,500,000
|
The Advisors’ Inner Circle Fund II
|
$6,029,798,477
|
2,500,000
|
Bishop Street Funds
|
$478,130,801
|
750,000
|
Causeway Capital Management Trust
|
$1,826,309,405
|
1,500,000
|
CNI Charter Funds
|
$6,025,577,426
|
2,500,000
|
SEI Alpha Strategy Portfolios LP
|
$735,163,580
|
900,000
|
SEI Liquid Asset Trust
|
$879,018,869
|
1,000,000
|
SEI Tax Exempt Trust
|
$5,959,999,553
|
2,500,000
|
SEI Daily Income Trust
|
$10,274,780,902
|
2,500,000
|
SEI Institutional International Trust
|
$4,258,010,105
|
2,300,000
|
SEI Institutional Managed Trust
|
$19,266,538,834
|
2,500,000
|
SEI Asset Allocation Trust
|
$1,552,351,827
|
1,500,000
|
SEI Institutional Investments Trust
|
$35,822,142,550
|
2,500,000
|
Adviser Managed Trust
|
$1,502,873,723
|
1,500,000
|
New Covenant Funds
|
$1,554,683,000
|
1,500,000
|
SEI Structured Credit Fund, L.P.
|
$406,368,715
|
750,000
|
Company | Coverage | Premium |
Advisors’ Inner Circle Fund
|
$40,000,000
|
$20,506
|
The Advisors’ Inner Circle Fund II
|
$40,000,000
|
$9,447
|
Bishop Street Funds
|
$40,000,000
|
$749
|
Causeway Capital Management Trust
|
$40,000,000
|
$2,861
|
CNI Charter Funds
|
$40,000,000
|
$9,440
|
SEI Alpha Strategy Portfolios LP
|
$40,000,000
|
$1,151.74
|
SEI Liquid Asset Trust
|
$40,000,000
|
$1,377.11
|
SEI Tax Exempt Trust
|
$40,000,000
|
$9,337.23
|
SEI Daily Income Trust
|
$40,000,000
|
$16,096.98
|
SEI Institutional International Trust
|
$40,000,000
|
$6,670.81
|
SEI Institutional Managed Trust
|
$40,000,000
|
$30,183.90
|
SEI Asset Allocation Trust
|
$40,000,000
|
$2,431.99
|
SEI Institutional Investments Trust
|
$40,000,000
|
$56,120.72
|
Adviser Managed Trust
|
$40,000,000
|
$2,354.48
|
New Covenant Funds
|
$40,000,000
|
$2,435.64
|
SEI Structured Credit Fund, L.P.
|
$40,000,000
|
$637
|
SEI ASSET ALLOCATION TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI DAILY INCOME TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI INSTITUTIONAL INTERNATIONAL TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI INSTITUTIONAL INVESTMENTS TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI INSTITUTIONAL MANAGED TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI LIQUID ASSET TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI TAX EXEMPT TRUST
|
By
|
/s/ Timothy D. Barto
|
|
SEI ALPHA STRATEGY PORTFOLIOS, LP
|
By
|
/s/ Timothy D. Barto
|
|
ADVISER MANAGED TRUST
|
By
|
/s/ Timothy D. Barto
|
|
NEW COVENANT FUNDS
|
By
|
/s/ Timothy D. Barto
|
|
SEI STRUCTURED CREDIT FUND, L.P.
|
By
|
/s/ Timothy D. Barto
|
|
THE ADVISORS’ INNER CIRCLE FUND
|
By
|
/s/ Dianne Sulzbach
|
|
THE ADVISORS’ INNER CIRCLE FUND II (f/k/a THE ARBOR FUND)
|
By
|
/s/ Dianne Sulzbach
|
|
BISHOP STREET FUNDS
|
By
|
/s/ Dianne Sulzbach
|
|
CNI CHARTER FUNDS
|
By
|
/s/Bernadette M. Sparling
|
|
CAUSEWAY CAPITAL MANAGEMENT TRUST
|
By
|
/s/ Dianne Sulzbach
|
|
SEI INVESTMENTS MANAGEMENT CORP.
|
By
|
/s/ Timothy D. Barto
|
|
SEI INVESTMENTS DISTRIBUTION CO.
|
By
|
/s/ John Munch
|
|
SEI GLOBAL SERVICES, INC.
|
By
|
/s/ Timothy D. Barto
|
|
SEI INVESTMENTS GLOBAL FUNDS SERVICES
|
By
|
/s/ Timothy D. Barto
|
|
1.
|
Unless otherwise specified, capitalized terms used in this Addendum are defined as set forth in the Agreement.
|
|
2.
|
New Insured represents that (a) it satisfies the requirements of Rule 17g-1(b) and (j) under the Act for inclusion in the Bond; and (b) such investment company has retained an SEI Service Entity to provide services to it.
|
|
3.
|
New Insured agrees to be bound by all the terms of the Agreement.
|
|
4.
|
New Insured shall deliver a copy of this executed Addendum to each Insured.
|
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