> Parties Involved > Custodian
In selecting brokers and custodians to effect portfolio transactions for the Company, the Investment Manager considers such factors as price, the ability to effect the transaction and reliability and financial position. The Company will be charged brokerage commissions and custody fees and may pay interest charges and certain other trading expenses.
The Company will work with brokers and custodians on a best execution basis and the Company will not enter into any "soft dollar" agreements that would provide for charges higher than usual commissions on transactions executed on behalf of the Company, in exchange for providing goods or services to the Investment Manager.
Custodial functions to be carried out on behalf of the Company include, among other matters, arranging for (i) the receipt and delivery of financial instruments purchased, sold, borrowed and loaned, (ii) the making and receiving of payments therefore, (iii) custody of financial instruments fully paid for or not fully paid for and compliance with margin and maintenance requirements and (iv) custody of all cash, dividends and exchanges, distributions and rights accruing to an account.
The brokers/custodians will not be involved in any investment decisions in relation to the Company and accordingly will not accept any liability for the Company's performance. The brokers/custodians will be entrusted with the safe custody of certain assets of the Company and will maintain segregated accounts in the name of and for the sole benefit of the Company. Assets may or may not be segregated from the brokers/custodians' own proprietary positions in order to ensure adequate protection in the event of bankruptcy or insolvency of the brokers/custodians.
The Investment Manager remains responsible for the selection and appointment of any additional brokers/custodians as it deems fit.