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Management Agreement

 

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Title:

Management Agreement

Entities:

Prudential Financial, Inc.; Strategic Partners Opportunity Funds

Date:

2002

Size:

Preview shows 5KB of 25KB total

Price:

$32

ID:

#2438760

 

 

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                      STRATEGIC PARTNERS OPPORTUNITY FUNDS


Management Agreement
--------------------

Agreement made this 26th day of February, 2002, between Strategic
Partners Opportunity Funds (formerly, Strategic Partners Series), a Delaware
business trust (the "Trust"), on behalf of each series listed on Schedule A
attached hereto, as amended from time to time (each such series, a "Fund"), and
Prudential Investments LLC (formerly Prudential Investments Fund Management
LLC), a New York limited liability company (the "Manager").

W I T N E S S E T H

WHEREAS, the Trust is a non-diversified open-end, management
investment company registered under the Investment Company Act of 1940, as
amended (the "1940 Act"); and

WHEREAS, the Trust desires to retain the Manager to render or contract
to obtain as hereinafter provided investment advisory services to the Fund and
the Trust also desires to avail itself of the facilities available to the
Manager with respect to the administration of the day-to-day business affairs of
the Fund, and the Manager is willing to render such investment advisory and
administrative services;

NOW, THEREFORE, the parties agree as follows:

1. The Trust hereby appoints the Manager to act as manager of the Fund,
and as administrator of the business affairs of the Fund for the period and on
the terms set forth in this Agreement. The Manager accepts such appointment and
agrees to render the services herein described, for the compensation herein
provided. Subject to the approval of the Board of Trustees of the Trust, the
Manager is authorized to enter into a subadvisory agreement with Prudential
Investment Management Inc. (formerly The Prudential Investment Corporation),
Jennison Associates LLC, or any other subadviser, whether or not affiliated with
the Manager (each, a Subadviser), pursuant to which such Subadviser shall
furnish to the Fund the investment advisory services in connection with the
management of the Fund (each, a "Subadvisory Agreement"). Subject to the
approval of the Board of Trustees of the Trust, the Manager is authorized to
retain more than one Subadviser for the Fund, and if the Fund has more than one
Subadviser, the Manager is authorized to allocate the Fund's assets among the
Subadvisers. The Manager will continue to have responsibility for all investment
advisory services furnished pursuant to any Subadvisory Agreement. The Trust and
the Manager understand and agree that the Manager may manage the Fund in a
"manager-of-managers" style with either a single or multiple Subadvisers, which
contemplates that the Manager will, among other things and pursuant to an order
issued by the Securities and Exchange Commission ("SEC"): (i) continually
evaluate the performance of the Subadviser to the Fund through quantitative and
qualitative analysis and consultations with such Subadviser; (ii) periodically
make recommendations to the Trust's Board as to whether the contract with one or
more Subadvisers should be renewed, modified, or terminated; and (iii)
periodically report to the Trust's Board regarding the results of its evaluation
and monitoring functions. The Trust recognizes that subject to the approval of
the

{PAGE}

Board of Trustees of the Trust, a Subadviser's services may be terminated or
modified pursuant to the "manager-of-managers" process and that the Manager may
appoint a new Subadviser for a Subadviser that is so removed.

2. Subject to the supervision of the Board of Trustees of the Trust, the
Manager shall administer the Fund's business affairs and, in connection
therewith, shall furnish the Fund with office facilities and with clerical,
bookkeeping and recordkeeping services at such office facilities and, subject to
Section 1 hereof and any Subadvisory Agreement, the Manager shall manage the
investment operations of the Fund and the composition of the Fund's portfolio
including the purchase, retention and disposition thereof, in accordance with
the Fund's investment objectives, policies and restrictions as stated in the
Fund's SEC registration statement, and subject to the following understandings:

(a) The Manager (or a Subadviser under the Manager's supervision)
shall provide supervision of the Fund's investments, and shall determine

 

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