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Document Preview Investment Advisory Agreement |
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Title: |
Investment Advisory Agreement |
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Entities: |
Gabelli Asset Management; GAMCO Investors, Inc.; GAM Funds Inc. |
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Date: |
2003 |
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Size: |
Preview shows 3KB of 23KB total |
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Price: |
$35 |
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ID: |
#108165 |
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GAM FUNDS, INC.
October 9, 2002
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
Investment Advisory Agreement
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Dear Sirs:
The undersigned, GAM Funds, Inc., a Maryland corporation (the "Fund"), is
an open-end diversified series investment company, registered under the
Investment Company Act of 1940, as amended (the "1940 Act"). This letter (the
"Agreement") confirms your engagement as co-investment adviser to the GAM
American Focus Long/Short Fund series of the Fund's shares ("GAM American Focus
Long/Short Fund") on the terms and subject to the conditions set forth below:
SECTION 1. Investment Management Services
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A. General
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You shall, in cooperation with GAM International Management Limited (the
"Co-Adviser"), conduct and maintain a continuous review of the portfolio of
securities and investments held by GAM American Focus Long/Short Fund. You shall
also, subject to any written instructions from the Co-Adviser, and subject to
the following paragraph, make all decisions regarding purchases and sales of
securities and other investments on behalf of GAM American Focus Long/Short Fund
(such portfolio review and decision making, the "Advisory Services").
In performing the Advisory Services, you shall be guided by the investment
objectives, policies and restrictions of GAM American Focus Long/Short Fund as
set forth in the Prospectus and the Statement of Additional Information filed by
the Fund with the Securities and Exchange Commission, as amended from time to
time (the "Disclosure Documents"), and in accordance with such other policies or
limitations adopted by the Board of Directors of the Fund and the provisions of
the 1940 Act and the rules promulgated thereunder. We agree to supply you with
all such relevant documents and to notify you of any relevant changes in the
investment objectives, policies and restrictions of GAM American Focus
Long/Short Fund.
In acting under this Agreement, you shall be an independent contractor and
shall not be an agent of the Fund. You shall not have any responsibility for any
other matter relating to the operation of the Fund, including, but not limited
to, preparation of disclosure documents, compliance with regulatory
requirements, accounting and servicing of shareholder accounts.
B. Selection and Recommendations of Brokers
----------------------------------------
Subject to any written instruction from the Co-Adviser, you shall be
responsible for the selection of members of securities exchanges, brokers and
dealers for the execution of the portfolio transactions of GAM American Focus
Long/Short Fund, and, when applicable, negotiating commissions in connection
therewith. All such selections shall be made in accordance with the Fund's
policies and restrictions regarding brokerage allocation set forth in the
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