Mutual Fund Protection Insurance Policy

Who is covered?
● The Mutual Fund
● The Trustee
● The Asset Management Company
● All Directors, officers and employees of the Corporate Trustee and/or Investment Manager (past, present and future)

◦ Definition of claim includes civil or criminal proceedings, investigations and written demands.
◦ Extended Reporting Period.
◦ Severability of all exclusions for insured individuals.
◦ Severability of the proposal form.
◦ Can insure any combination of Unit Trust, trustees, investment managers and their Directors, officers and employees.
◦ Automatic cover for certain newly created or acquired Subsidiaries.
◦ No prior acts exclusion.
◦ Automatic "run off" cover for divested Subsidiaries.
◦ Multi-year policies available.
◦ Advancement of Defense costs prior to final disposition of a claim.
◦ World-wide cover.
◦ Spousal Liability extension.
◦ Estates and legal representatives of incapacitated or deceased insured individuals are covered.

What are typical claims?
● Improper trading
● Disputes over fees
● Inappropriate investments
● Failure to properly disclose risks
● Inappropriate valuation of portfolio securities
● Breach of fiduciary duty/trust