Sunshine Act Meeting, 42143 [2011-18067]
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srobinson on DSK4SPTVN1PROD with NOTICES
Federal Register / Vol. 76, No. 137 / Monday, July 18, 2011 / Notices
disclosure contemplated by condition 2
below, by the initial shareholder(s)
before offering shares of the MultiManager Fund to the public.
2. Each Multi-Manager Fund relying
on the requested order will disclose in
its prospectus the existence, substance,
and effect of any order granted pursuant
to the application. In addition, each
Multi-Manager Fund will hold itself out
to the public as employing the manager
of managers structure described in the
application. The prospectus will
prominently disclose that the Adviser
has ultimate responsibility (subject to
oversight by the Board) to oversee SubAdvisers and recommend their hiring,
termination and replacement.
3. Within 90 days of the hiring of any
new Sub-Adviser, shareholders of the
affected Multi-Manager Fund will be
furnished all of the information about
the new Sub-Adviser that would be
included in a proxy statement. To meet
this obligation the Multi-Manager Fund
will, within 90 days of hiring a new
Sub-Adviser, provide shareholders of
the affected Multi-Manager Fund with
an information statement meeting the
requirements of Regulation 14C,
Schedule 14C and Item 22 of Schedule
14A under the Securities Exchange Act
of 1934, as amended.
4. The Adviser will not enter into a
sub-advisory agreement with any
Affiliated Sub-Adviser without such
agreement, including the compensation
to be paid thereunder, being approved
by the shareholders of the applicable
Multi-Manager Fund.
5. At all times, at least a majority of
the Board will be Independent Trustees,
and the nomination of new or additional
Independent Trustees will be at the
discretion of the then existing
Independent Trustees.
6. When a change of Sub-Adviser is
proposed for a Multi-Manager Fund
with an Affiliated Sub-Adviser, the
Board, including a majority of the
Independent Trustees, will make a
separate finding, reflected in the Board
minutes, that such change is in the best
interests of the Multi-Manager Fund and
its shareholders and does not involve a
conflict of interest from which the
Adviser or an Affiliated Sub-Adviser
derives an inappropriate advantage.
7. The Adviser will provide general
management services to each MultiManager Fund, including overall
supervisory responsibility for the
general management and investment of
the Multi-Manager Fund’s assets, and,
subject to review and approval by the
Board, will: (i) set the Multi-Manager
Fund’s overall investment strategies; (ii)
evaluate, select and recommend SubAdvisers to manage all or a part of the
VerDate Mar<15>2010
16:43 Jul 15, 2011
Jkt 223001
Multi-Manager Fund’s assets; (iii) when
appropriate, allocate and reallocate the
Multi-Manager Fund’s assets among
multiple Sub-Advisers; (iv) monitor and
evaluate the Sub-Advisers’ performance;
and (v) implement procedures
reasonably designed to ensure that the
Sub-Advisers comply with the MultiManager Fund’s investment objectives,
policies and restrictions.
8. No trustee or officer of a MultiManager Fund or director or officer of
the Adviser will own directly or
indirectly (other than through a pooled
investment vehicle that is not controlled
by such person) any interest in a SubAdviser, except for: (i) ownership of
interests in the Adviser or any entity
that controls, is controlled by or is
under common control with the
Adviser; or (ii) ownership of less than
1% of the outstanding securities of any
class of equity or debt of a publiclytraded company that is either a SubAdviser or an entity that controls, is
controlled by, or is under common
control with a Sub-Adviser.
9. In the event the Commission adopts
a rule under the Act providing
substantially similar relief to that in the
order requested in the application, the
requested order will expire on the
effective date of that rule.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–17956 Filed 7–15–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Federal Register Citation of Previous
Announcement: [76 FR 40948, July
12, 2011].
STATUS: Closed Meeting.
PLACE: 100 F Street, NW., Washington,
DC.
DATE AND TIME OF PREVIOUSLY ANNOUNCED
MEETING: July 14, 2011 at 2 p.m.
Deletion of
Items.
The following items will not be
considered during the Closed Meeting
on Thursday, July 14, 2011:
Adjudicatory Matters.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items. For further
information and to ascertain what, if
any, matters have been added, deleted
or postponed, please contact the Office
of the Secretary at (202) 551–5400.
CHANGE IN THE MEETING:
PO 00000
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42143
Dated: July 14, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–18067 Filed 7–14–11; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Federal Register Citation of Previous
Announcement: [76 FR 41534, July 14,
2011].
STATUS:
PLACE:
Open Meeting.
100 F Street, NE., Washington,
DC.
DATE AND TIME OF PREVIOUSLY ANNOUNCED
MEETING: Thursday, July 14, 2011.
Cancellation of
Meeting.
The Open Meeting scheduled for
Thursday, July 14, 2011 at 10 a.m. has
been cancelled.
For further information please contact
the Office of the Secretary at (202) 551–
5400.
CHANGE IN THE MEETING:
Dated: July 13, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–18051 Filed 7–14–11; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64863; File No. SR–Phlx–
2011–94]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX PHLX LLC Relating to the
Options Floor Broker Subsidy
July 12, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on June 30,
2011, NASDAQ OMX PHLX LLC
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III, below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
1 15
2 17
E:\FR\FM\18JYN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
18JYN1
]]>Agencies
[Federal Register Volume 76, Number 137 (Monday, July 18, 2011)]
[Notices]
[Page 42143]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-18067]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting
Federal Register Citation of Previous Announcement: [76 FR 40948, July
12, 2011].
STATUS: Closed Meeting.
PLACE: 100 F Street, NW., Washington, DC.
DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: July 14, 2011 at 2 p.m.
CHANGE IN THE MEETING: Deletion of Items.
The following items will not be considered during the Closed
Meeting on Thursday, July 14, 2011:
Adjudicatory Matters.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items. For further information and to
ascertain what, if any, matters have been added, deleted or postponed,
please contact the Office of the Secretary at (202) 551-5400.
Dated: July 14, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-18067 Filed 7-14-11; 11:15 am]
BILLING CODE 8011-01-P
