February 18, 2020
Filed via EDGAR
Securities & Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sir or Madam:
Pursuant to the requirements of Rule 17g-1(1)
of the Investment Company Act of 1940, as amended (the “Investment Company Act”), I enclose herewith the following
documents:
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1.
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A copy of the fidelity bond for Pacific Global ETF Trust; and
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2.
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A certification of the resolutions of a majority of the Board of Trustees who are not “interested persons” of the above referenced investment company approving the amount, type, form and coverage of the bond and the premium to be paid and a statement as to the period for which premiums have been paid.
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Please
do not hesitate to contact me at (949) 219-3391 or via e-mail to joseph.lallande@pacificlife.com with any questions
you may have regarding the filing.
Sincerely,
/s/ J.G. Lallande
J.G. Lallande
Assistant Secretary
Pacific Global Advisors LLC
840 Newport Center Drive, 7th
Floor
Newport Beach, CA 92660
Your
Great American Insurance PolicySM
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301
E. Fourth St., Cincinnati, OH 45202
©
2017 Great American Insurance Company
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0790-C
(10/17)
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American Insurance Company
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015466
IMPORTANT
NOTICE
FIDELITY
CRIME DIVISION CLAIMS
Should
this account have a potential claim situation, please contact:
Fidelity
& Crime Claims Department
Great
American Insurance Group
Five
Waterside Crossing
Windsor,
CT 06095
(860)
298-7330
(860)
688-8188 fax
CrimeClaims@gaig.com
SDM-683
(Ed. 08/14)
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American Insurance Company
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IMPORTANT
INFORMATION TO POLICYHOLDERS
CALIFORNIA
TO
OBTAIN INFORMATION OR TO MAKE A COMPLAINT
In
the event you need to contact someone about this Policy for any reason please contact your agent. If you have additional questions,
you may contact the insurance company issuing this Policy at the following address and telephone number:
Great
American Insurance Group
Administrative
Offices
301
East 4th Street
Cincinnati,
OH 45202
Or
you may call the toll-free telephone number for information or to make a complaint at:
1-800-972-3008
If
you have a problem with your insurance company,
its agent or representative that has not been resolved to your satisfaction, please call or write to the Department of Insurance.
California
Department of Insurance
Consumer
Services Division
300
South Spring Street, South Tower
Los
Angeles, California 90013
1-800-927-4357
213-897-8921
(if calling from within the Los Angeles area) 1-800-482-4833 (TDD Number)
Written
correspondence is preferable so that a record
of your inquiry can be maintained. When contacting your agent, company or the Bureau of Insurance, have your Policy Number available.
ATTACH
THIS NOTICE TO YOUR POLICY
This
notice is for information only and does not become
a part or condition of the attached document.
SDM-705
(Ed. 11/08)
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Great
American Insurance Company
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015466
FI
75 10 (Ed. 11/16)
INVESTMENT
COMPANY BOND
GREAT
AMERICAN INSURANCE COMPANY
(A
Stock Insurance Company, Herein Called the Underwriter)
DECLARATIONS
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Bond
No. FS E426067 01 01
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Item 1.
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Name of Insured (herein called Insured):
Pacific Global ETF Trust
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Principal
Address:
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840
Newport Center
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Drive 7th Floor
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Newport Beach, CA 92660
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Item 2.
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Bond Period: from 12:01 a.m. on 01/02/2020
to 01/02/2021 12:01 a.m. the effective date of the termination or cancellation of this Bond, standard time at the Principal
Address as to each of said dates.
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Item 3.
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Limit
of Liability - Subject to Sections 9, 10 and 12 hereof,
Amount
applicable to
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Limit
of Liability
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Deductible
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Insuring
Agreement (A)-Fidelity
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$
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525,000
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$
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0
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Insuring
Agreement (B)-On Premises
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$
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525,000
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$
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25,000
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Insuring
Agreement (C)-In Transit
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$
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525,000
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$
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25,000
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Insuring
Agreement (D)-Forgery or Alteration
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$
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525,000
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$
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25,000
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Insuring
Agreement (E)-Securities
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$
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525,000
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$
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25,000
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Insuring
Agreement (F)-Counterfeit Currency
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$
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525,000
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$
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25,000
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Insuring
Agreement (G)-Stop Payment
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$
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25,000
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$
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5,000
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Insuring
Agreement (H)-Uncollectible Items of Deposit
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$
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25,000
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$
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5,000
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Insuring
Agreement (I)-Audit Expense
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$
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25,000
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$
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5,000
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Insuring
Agreement (J)-Telefacsimile Transmissions
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$
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525,000
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$
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25,000
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Insuring
Agreement (K)-Unauthorized Signatures
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$
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525,000
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$
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5,000
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Optional
Insuring Agreements and Coverages
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Insuring
Agreement (L)-Computer Systems
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$
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525,000
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$
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25,000
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Insuring
Agreement (M)-Automated Phone Systems
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$
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525,000
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$
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25,000
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Insuring
Agreement (N)-Fraudulent Transfer Instructions
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$
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525,000
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$
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25,000
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Investigative
Costs Expense
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$
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25,000
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$
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5,000
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FI 75 10 (Ed. 11/16)
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(Page
1 of 2)
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015466
If
“Not Covered” is inserted above opposite any specified Insuring Agreement or Coverage, such Insuring Agreement or
Coverage and any other reference
thereto in this Bond shall be deemed to be deleted therefrom.
Item
4. Offices or Premises Covered-Offices acquired or established subsequent to the effective date of this Bond are covered according
to the terms of General Agreement A. All the Insured’s offices or premises in existence at the time this Bond becomes effective
are covered under this Bond except the offices or premises located as follows:
N/A
Item
5. The liability of the Underwriter is subject to the terms of the following Riders attached hereto:
See
Form FI8801
Item
6. The Insured by the acceptance of this Bond gives to the Underwriter terminating or cancelling prior Bond(s) or Policy(ies)
No.(s)
FS
E426067 01
such
termination or cancellation to be effective as of the time this Bond becomes effective.
FI 75 10 (Ed. 11/16)
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(Page
2 of 2)
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FI 75 11 (Ed. 08/15)
INVESTMENT COMPANY
BOND
The Underwriter, in consideration
of an agreed premium, and subject to the Declarations made a part hereof, the General Agreements, Conditions and Limitations and
other terms of this Bond, agrees with the Insured, in accordance with Insuring Agreements hereof to which an amount of insurance
is applicable as set forth in Item 3 of the Declarations and with respect to loss sustained by the Insured at any time but discovered
during the Bond period, to indemnify and hold harmless the Insured for:
INSURING
AGREEMENTS
FIDELITY
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(A)
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Loss resulting from any dishonest or fraudulent act(s), including
Larceny or Embezzlement committed by an Employee, committed any- where and whether committed alone or in collusion with others,
including loss of Property resulting from such acts of an Employee, which Property is held by the Insured for any purpose or
in any capacity and whether so held gratuitously or not and whether or not the Insured is liable therefor.
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Dishonest
or fraudulent act(s) as used in this Insuring Agreement shall mean only dishonest or fraudulent
act(s) committed by such Employee with the manifest intent:
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(a)
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to cause the Insured to sustain such loss; and
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(b)
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to obtain financial benefit for the Employee, or for any other
person or organization intended by the Employee to receive such benefit, other than salaries, commissions, fees, bonuses, promotions,
awards, profit sharing, pensions or other employee benefits earned in the normal course of employment.
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ON PREMISES
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(B)
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Loss of Property (occurring with or without negligence or violence)
through robbery, burglary, Larceny, theft, holdup, or other fraudulent means, misplacement, mysterious unexplainable disappearance,
damage thereto or destruction thereof, abstraction or removal from the possession, custody or control of the Insured, and loss
of subscription, conversion, redemption or deposit privileges through the misplacement or loss of Property, while the Property
is (or is supposed or believed by
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the
Insured to be) lodged or deposited within any offices or premises located anywhere, except
in an office listed in Item 4 of the Declarations or amendment thereof or in the mail or with a carrier for hire other than an
armored motor vehicle company, for the purpose of transportation.
Offices and Equipment
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(1)
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Loss of or damage to furnishings, fixtures,
stationary, supplies or equipment, within any of the Insured's offices covered under this Bond caused by Larceny or theft in,
or by burglary, robbery or holdup of such office, or attempt thereat, or by vandalism or malicious mischief; or
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(2)
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loss through damage to any such office by
Larceny or theft in, or by burglary, robbery or hold-up of such office or attempt thereat.
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IN TRANSIT
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(C)
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Loss of Property (occurring with or without
negligence or violence) through robbery, Larceny, theft, hold-up, misplacement, mysterious unexplainable disappearance, being
lost or otherwise made away with, damage thereto or destruction thereof, and loss of subscription, conversion, redemption or deposit
privileges through the misplacement or loss of Property, while the Property is in transit anywhere in the custody of any person
or persons acting as messenger, except while in the mail or with a carrier for hire, other than an armored motor vehicle company,
for the purpose of transportation, such transit to begin immediately upon receipt of such Property by the transporting person
or persons, and to end immediately upon delivery thereof at destination.
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FI 75 11 (Ed. 08/15)
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(Page
1 of 13)
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FORGERY OR ALTERATION
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(D)
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Loss through FORGERY or ALTERATION of, on
or in any bills of exchange, checks, drafts, acceptances, certificates of deposit, promissory notes, or other written promises,
orders or directions to pay sums certain in money due bills, money orders, warrants, orders upon public treasuries, letters of
credit, writ- ten instructions, advices or applications directed to the Insured, authorizing or acknowledging the transfer,
payment, delivery or receipt of funds or Property, which instructions or advices or applications purport to have been signed
or endorsed by any customer of the Insured, shareholder or subscriber to shares, whether certificated or uncertificated, of any
Investment Company or by any financial or banking institution or stockbroker but which instructions, advices or applications either bear the forged signature or Endorsement or have been altered without the knowledge and consent of such customer, shareholder
or subscriber to shares, whether certificated or uncertificated, of an Investment Company, financial or banking institution or
stockbroker, withdrawal orders or receipts for the withdrawal of funds or Property, or receipts or certificates of deposit for
Property and bearing the name of the Insured as issuer, or of another Investment Company for which the Insured acts as agent,
excluding, however, any loss covered under Insuring Agreement (F) hereof whether or not coverage for Insuring Agreement (F) is
provided for in the Declarations of this Bond.
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Any
check or draft (a) made payable to a fictitious payee and endorsed in the name of such fictitious
payee or (b) procured in a transaction with the maker or drawer thereof or with one acting as an agent of such maker or drawer
or anyone impersonating another and made or drawn payable to the one so impersonated and endorsed by anyone other than the one
impersonated, shall be deemed to be forged as to such Endorsement.
Mechanically
reproduced facsimile signatures are treated the same as handwritten signatures.
SECURITIES
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(E)
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Loss sustained by the Insured, including loss
sustained by reason of a violation of the constitution, by-laws, rules or regulations of any
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Self
Regulatory Organization of which the Insured is a member or which would have been imposed
upon the Insured by the constitution, by-laws, rules or regulations of any Self Regulatory Organization if the Insured had been
a member thereof,
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(1)
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through the Insured's having, in good faith
and in the course of business, whether for its own account or for the account of others, in any representative, fiduciary, agency
or any other capacity, either gratuitously or otherwise, purchased or otherwise acquired, accepted or received, or sold or
delivered, or given any value, ex- tended any credit or assumed any liability, on the faith of, or otherwise acted upon, any securities,
documents or other written instruments which prove to have been
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(b)
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forged as to the signature of any maker,
drawer, issuer, endorser, assignor, lessee, transfer agent or registrar, acceptor, surety or guarantor or as to the signature
of any person signing in any other capacity, or
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(c)
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raised or otherwise altered, or lost, or
stolen, or
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(2)
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through the Insured's having, in good faith
and in the course of business, guaranteed in writing or witnessed any signatures whether for valuable consideration or not and
whether or not such guaranteeing or witnessing is ultra vires the Insured, upon any transfers, assignments, bills of sale, powers
of attorney, guarantees, Endorsements or other obligations upon or in connection with any securities, documents or other written
instruments and which pass or purport to pass title to such securities, documents or other written instruments; EXCLUDING,
losses caused by FORGERY or ALTERATION of, on or in those instruments covered under Insuring Agreement (D) hereof.
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Securities,
documents or other written instruments shall be deemed to mean original (including original
counterparts) negotiable or non-negotiable agreements which in and of themselves represent an equitable interest, ownership, or
debt, including an assignment thereof which instruments are in the ordinary
FI 75 11 (Ed. 08/15)
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course
of business, transferable by delivery of such agreements with any necessary Endorsement
or assignment.
The word "counterfeited"
as used in this Insuring Agreement shall be deemed to mean any security, document or other written instrument which is intended
to deceive and to be taken for an original.
Mechanically
reproduced facsimile signatures are treated the same as handwritten signatures.
COUNTERFEIT CURRENCY
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(F)
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Loss through the receipt by the Insured, in good faith, of any counterfeited
money orders or altered paper currencies or coin of the United States of America or Canada issued or purporting to have been
issued by the United States of America or Canada or issued pursuant to a United States of America or Canadian statute for use as
currency.
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STOP PAYMENT
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(G)
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Loss against any and all sums which the Insured shall become obligated
to pay by reason of the Liability imposed upon the Insured by law for damages:
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For
having either complied with or failed to comply with any written notice of any customer,
shareholder or subscriber of the Insured or any Authorized Representative of such customer, shareholder or subscriber to stop
payment of any check or draft made or drawn by such customer, shareholder or subscriber or any Authorized Representative of such
customer, shareholder or subscriber, or
For
having refused to pay any check or draft made or drawn by any customer, shareholder or subscriber
of the Insured, or any Authorized Representative of such customer, shareholder or Subscriber.
UNCOLLECTIBLE ITEMS OF DEPOSIT
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(H)
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Loss resulting from payments of dividends or fund shares, or withdrawals
permitted from any customer's, shareholder's or subscriber's account based upon Uncollectible items of Deposit of a customer, shareholder
or subscriber credited by the Insured or the Insured's agent to such customer's, shareholder's or subscriber's Mutual Fund
Account: or
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loss
resulting from any item of Deposit processed through an Automated Clearing House which is
reversed by the customer, shareholder or subscriber and deemed uncollectible by the Insured.
Loss
includes dividends and interest accrued not to exceed 15% of the Uncollectible items which are deposited.
This
Insuring Agreement applies to all Mutual Funds with "exchange privileges" if all
Fund(s) in the exchange program are insured by a Great American Insurance Company of Cincinnati, OH for Uncollectible Items of
Deposit. Regardless of the number of transactions between Fund(s) the minimum number of days of deposit within the Fund(s) before
withdrawal as declared in the Fund(s) prospectus shall begin from the date a deposit was first credited to any Insured Fund(s).
AUDIT EXPENSE
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(I)
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Expense incurred by the Insured for that
part of the costs of audits or examinations required by any governmental regulatory authority to be conducted either by such
authority or by an independent accountant by reason of the discovery of loss sustained by the Insured through any dishonest or
fradulent act(s), including Larceny or Embezzlement of any of the Employees. The total liability of the Underwriter for such expense
by reason of such acts of any Employee or in which such Employee is concerned or implicated or with respect to any one audit or
examination is limited to the amount stated opposite Audit Expense in Item 3 of the Declarations; it being understood, however,
that such expense shall be deemed to be a loss sustained by the Insured through any dishonest or fraudulent act(s), including Larceny
or Embezzlement of one or more of the Employees and the liability under this paragraph shall be in addition to the Limit of Liability
stated in Insuring Agreement
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(A)
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in Item 3 of the Declarations.
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TELEFACSIMILE TRANSMISSIONS
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(J)
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Loss resulting by reason of the Insured having
transferred, paid or delivered any funds or Property, established any credit, debited any account, or given any value relying on
any fraudulent instructions sent by a customer or financial institution by Telefacsimile Transmission directed to the Insured,
authorizing or
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FI 75 11 (Ed. 08/15)
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(Page
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acknowledging
the transfer, payment, or delivery of funds or property, the establishment of a credit,
debiting of any account, or the giving of value by the Insured, but only if such telefacsimile instructions:
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(1)
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bear a valid test key exchanged between the Insured and a customer
or another financial institution with authority to use such test key for Telefacsimile instructions in the ordinary course of
business, but which test key has been wrongfully obtained by a person who was not authorized to initiate, make, validate or authenticate a test key arrangement; and
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(2)
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fraudulently purport to have been sent by such customer or financial
institution, but which telefacsimile instructions are transmitted without the knowledge or consent of such customer or financial
institution by a person other than such customer or financial institution and which bear a forged signature.
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"Telefacsimile"
means a system of transmitting written documents by electronic signals over telephone lines
to equipment maintained by the Insured within its communication room for the purposes of re- producing a copy of said document.
It does not mean electronic communication sent by Telex, TWC, or electronic mail, or Automated Clearing House.
UNAUTHORIZED SIGNATURES
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(K)
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Loss resulting directly from the Insured
having accepted, paid or cashed any check or withdrawal order, draft, made or drawn on a customer's account which bears the
signature or Endorsement of one other than a person whose name and signature is on the application on file with the Insured as
a signatory on such account.
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It
shall be a condition precedent to the Insured's right to recovery under
this Insuring Agreement that the Insured shall have on file signatures of all persons who are authorized signatories on such
account.
GENERAL AGREEMENTS
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(A)
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ADDITIONAL OFFICES OR EMPLOYEES CONSOLIDATION OR MERGER NOTICE
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(1)
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If the Insured shall, while this Bond is in force, establish any
additional office or offices, such office or offices shall be automatically covered hereunder from the dates of their establishment,
respectively. No notice to the Underwriter of an increase during any premium period in the number of offices or in the number
of Employees at any of the offices covered hereunder need be given and no additional premium need be paid for the remainder of
such premium period.
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(2)
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If an Investment Company, named as Insured herein, shall, while
this Bond is in force, merge or consolidate with, or purchase the assets of another institution, coverage for such acquisition
shall apply automatically from the date of acquisition. The Insured shall notify the Underwriter of such acquisition within 60
days of said
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date, and an additional premium
shall be computed only if such acquisition involves additional offices or employees.
WARRANTY
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(B)
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No statement made by or on behalf of the
Insured, whether contained in the application or otherwise, shall be deemed to be a warranty of anything except that it is true
to the best of the knowledge and belief of the person making the statement.
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COURT COSTS AND ATTORNEYS' FEES
(Applicable to all Insuring
Agreements or Coverages now or hereafter forming part of this Bond)
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(C)
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The Underwriter will indemnify the Insured
against court costs and reasonable attorneys' fees incurred and paid by the Insured in defense, whether or not successful, whether
or not fully litigated on the merits and whether or not settled of any suit or legal proceeding brought against the Insured to
enforce the lnsured's liability or alleged liability on account
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FI 75 11 (Ed. 08/15)
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(Page
4 of 13)
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of
any loss, claim or damage which, if established against the Insured, would constitute a
loss sustained by the Insured covered under the terms of this Bond provided, however, that with respect to Insuring Agreement (A)
this indemnity shall apply only in the event that
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(1)
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an Employee admits to being guilty of any
dishonest or fraudulent act(s), including Larceny or Embezzlement; or
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(2)
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an Employee is adjudicated to be guilty of
any dishonest or fraudulent act(s), including Larceny or Embezzlement;
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(3)
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in the absence of (1) or (2) above an arbitration panel agrees, after a review of an agreed statement of facts, that an Employee would be found guilty of dishonesty
if such Employee were prosecuted.
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The Insured shall promptly
give notice to the Underwriter of any such suit or legal proceeding and at the request of the Underwriter shall furnish it with
copies of all pleadings and other papers therein. At the Underwriter's election the Insured shall permit the Underwriter to conduct
the defense of such suit or legal proceeding, in the Insured's name, through attorneys of the Underwriter's
selection.
In such event, the Insured shall give all reasonable information and assistance which the
Underwriter shall deem necessary to the proper defense of such suit or legal proceeding.
If
the Insured's liability or alleged liability is greater than the amount recoverable under
this Bond, or if a Deductible Amount is applicable, the liability of the Underwriter under this General Agreement is limited
to that percentage of litigation expense determined by pro ration of the Bond limit of liability to the amount claimed, after
the application of any deductible. This litigation expense will be in addition to the Limit of Liability for the applicable Insuring
Agreement.
FORMER EMPLOYEE
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(D)
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Acts of Employee, as defined in this Bond,
are covered under Insuring Agreement (A) only while the Employee is in the Insured's employ. Should loss involving a former Employee
of the Insured be discovered subsequent to the termination of employment, coverage would still apply under Insuring Agreement (A)
if the direct proximate cause of the loss occurred while the former Employee performed duties within the scope of his/her employment.
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THE
FOREGOING INSURING AGREEMENTS AND
GENERAL AGREEMENTS ARE SUBJECT TO
THE
FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION
1. DEFINITIONS
The following terms, as
used in this Bond, shall have the respective meanings stated in this Section:
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(1)
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any of the Insured's officers, partners, or
employees, and
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(2)
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any of the officers or employees of any predecessor
of the Insured whose principal assets are acquired by the Insured by consolidation or merger with, or purchase of assets of capital
stock of such predecessor, and
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(3)
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attorneys retained by the Insured to perform legal services for the Insured and the employees of such attorneys while such attorneys or the employees of such attorneys
are performing such services for the Insured, and
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(4)
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guest students pursuing their studies or
duties in any of the Insured's offices, and
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(5)
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directors or trustees of the Insured, the
investment advisor, underwriter (distributor), transfer agent, or shareholder accounting record keeper, or administrator authorized
by written agreement to keep financial and/or other required records, but only while performing acts coming within the scope of
the usual duties of an officer or employee or while acting as a member of any committee duly elected or
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FI 75 11 (Ed. 08/15)
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(Page
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appointed
to examine or audit or have custody of or access to the Property of the Insured, and
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(6)
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any individual or individuals assigned to perform the usual duties
of an employee within the premises of the Insured by contract, or by any agency furnishing temporary personnel on a contingent
or part-time basis, and
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(7)
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each natural person, partnership or corporation authorized by
written agreement with the Insured to perform services as electronic data processor of checks or other accounting records of the
Insured, but excluding any such processor who acts as transfer agent or in any other agency capacity in issuing checks, drafts
or securities for the Insured, unless included under Subsection (9) hereof, and
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(8)
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those persons so designated in section 15, Central Handling of Securities,
and
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(9)
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any officer, partner or Employee of
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(a)
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an investment advisor,
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(b)
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an underwriter (distributor),
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(c)
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a transfer agent or shareholder accounting recordkeeper, or
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(d)
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an administrator authorized by written agreement to keep financial
and/or other required records, for an Investment Company, named as Insured while performing acts coming within the scope of the
usual duties of an officer or Employee of any Investment Company named as Insured herein, or while acting as a member of any
committee duly elected or appointed to examine or audit or have custody of or access to the Property of any such Investment Company
provided that only Employees or partners of a transfer agent, shareholder accounting record- keeper or administrator which is
an affiliated person as defined in the Investment Company Act of 1940, of an Investment Company named as Insured, or is an affiliated
person of the adviser, underwriter or administrator of such Investment Company, and which is not a bank, shall be included within
the definition of Employee.
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Each employer of temporary
personnel or processors as set forth in SubSections (6) and (7) of Section 1 (a) and their partners, officers and employees
shall collectively be deemed to be one person for all the purposes of this Bond, excepting, however, the last paragraph of Section
13. Brokers, or other agents under contract or representatives of the same general character shall not be considered Employees.
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(b)
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Property means money (i.e. currency, coin,
bank notes, Federal Reserve notes), postage and revenue stamps, U.S. Savings Stamps, bullion, precious metals of all kinds and
in any form and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semiprecious stones, Bonds,
securities, evidences of debts, debentures, scrip, certificates, interim receipts, warrants, rights, puts, calls, straddles,
spreads, transfers, coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal orders, money orders, warehouse
receipts, bills of lading, conditional sales contracts, abstracts of title, insurance Policies, deeds, mortgages under real estate
and/or chattels and upon interests therein, and assignments of such Policies, mortgages and instruments, and other valuable papers,
including books of account and other records used by the Insured in the conduct of its business, and all other instruments similar
to or in the nature of the foregoing including Electronic Representations of such Instruments enumerated above (but excluding
all data processing records) in which the Insured has an interest or in which the Insured acquired or should have acquired an interest
by reason of a predecessor's declared financial condition at the time of the Insured's consolidation or merge with, or purchase
of the principal assets of, such predecessor or which are held by the Insured for any purpose or in any capacity and whether so
held by the Insured for any purpose or in any capacity and whether so held gratuitously or not and whether or not the Insured
is liable therefor.
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(c)
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Forgery means the signing of the name of
another with the intent to deceive; it does not include the signing of one's own name with or without authority, in any capacity,
or for any purpose.
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(d)
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Larceny and Embezzlement as it applies to
any named Insured means those acts as set forth in Section 37 of the Investment Company Act of 1940.
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(e)
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Items of Deposit means any one or more checks
and drafts.
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SECTION
2. EXCLUSIONS
THIS BOND DOES NOT COVER:
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(a)
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loss effected directly or indirectly by means
of forgery or alteration of, on or in any instrument, except when covered by Insuring Agreement (A), (D), (E) or (F).
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(b)
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loss due to riot or civil commotion outside
the United States of America and Canada; or loss due to military, naval or usurped power, war or insurrection unless such loss
occurs in transit in the circumstances recited in Insuring Agreement (C) and unless, when such transit was initiated, there was
no knowledge of such riot, civil commotion, military, naval or usurped power, war or insurrection on the part of any person acting
for the Insured in initiating such transit.
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(c)
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loss, in time of peace or war, directly or
indirectly caused by or resulting from the effects of nuclear fission or fusion or radioactivity; provided, however, that this
paragraph shall not apply to loss resulting from industrial uses of nuclear energy.
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(d)
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loss resulting from any wrongful act or acts
of any person who is a member of the Board of Directors of the Insured or a member of any equivalent body by whatsoever name known
unless such person is also an Employee or an elected official, partial owner or partner of the Insured in some other capacity,
nor, in any event, loss resulting from the act or acts of any person while acting in the capacity of a member of such Board or
equivalent body.
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(e)
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loss resulting from the complete or partial nonpayment of, or default
upon, any loan or transaction in the nature of, or amounting to, a loan made by or obtained from the Insured or any of its partners,
directors or Employees, whether authorized or unauthorized and whether procured in good faith or through
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trick,
artifice, fraud or false pretenses, unless such loss is covered under Insuring Agreement
(A), (E) or (F).
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(f)
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loss resulting from any violation by the
Insured or by any Employee
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(1)
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of law regulating (a) the issuance, purchase
or sale of securities, (b) securities transactions upon Security Exchanges or over the counter market, (c) Investment Companies,
or (d) Investment Advisors, or
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(2)
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of any rule or regulation made pursuant
to any such law.
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unless
such loss, in the absence of such laws, rules or regulations, would be covered under Insuring
Agreements (A) or (E).
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(g)
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loss of Property or loss of privileges through
the misplacement or loss of Property as set forth in Insuring Agreement (C) or (D) while the Property is in the custody of any
armored motor vehicle company, unless such loss shall be in excess of the amount recovered or received by the Insured under (a)
the Insured's contract with said armored motor vehicle company, (b) insurance carried by said armored motor vehicle company for
the benefit of users of its service, and (c) all other insurance and indemnity in force in whatsoever form carried by or for
the benefit of users of said armored motor vehicle company's service, and then this Bond shall cover only such excess.
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(h)
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potential income, including but not limited
to interest and dividends, not realized by the Insured because of a loss covered under this Bond, except as included under Insuring
Agreement (I).
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(i)
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all damages of any type for which the Insured
is legally liable, except direct compensatory damages arising from a loss covered under this Bond.
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(j)
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loss through the surrender of Property away
from an office of the Insured as a result of a threat
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(1)
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to do bodily harm to any person, except loss
of Property in transit in the custody of any person acting as messenger provided
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that when such transit was initiated
there was no knowledge by the Insured of any such threat, or
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(2)
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to do damage to the premises or Property of the Insured, except
when covered under Insuring Agreement (A).
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(k)
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all costs, fees and other expenses incurred by the Insured in establishing
the existence of or amount of loss covered under this Bond unless such indemnity is provided for under Insuring Agreement (I).
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(l)
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loss resulting from payments made or withdrawals from the account
of a customer of the Insured, shareholder or subscriber to shares involving funds erroneously credited to such account, unless
such payments are made to or withdrawn by such depositor or representative of such person, who is within the premises of the
drawee bank of the Insured or within the office of the Insured at the time of such payment or withdrawal or unless such payment
is covered under Insuring Agreement (A).
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(m)
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any loss resulting from Uncollectible Items of Deposit which are
drawn from a financial institution outside the fifty states of the United States of America, District of Columbia, and territories
and possessions of the United States of America, and Canada.
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SECTION
3. ASSIGNMENT OF RIGHTS
This Bond
does not afford coverage in favor of any Employers of temporary personnel or of processors as set forth in sub-sections (6)
and (7) of Section 1(a) of this Bond, as aforesaid, and upon payment to the insured by the Underwriter on account of
any loss through dishonest or fraudulent act(s) including Larceny or Embezzlement committed by any of the partners,
officers or employees of such Employers, whether acting alone or in collusion with others, an assignment of such of the
Insured's rights and causes of action as it may have against such Employers by reason of such acts so committed shall, to the
extent of such payment, be given by the Insured to the Underwriter, and the Insured shall execute all papers necessary to
secure to the Underwriter the rights herein provided for.
SECTION
4. LOSS-NOTICE-PROOF-LEGAL PROCEEDINGS
This
Bond is for the use and benefit only of the Insured named in the Declarations and the Underwriter shall not be liable hereunder for loss sustained by anyone other than the Insured unless the Insured, in its sole discretion
and at its option, shall include such loss in the Insured's proof of loss. At the earliest practicable moment after discovery
of any loss hereunder the Insured shall give the Underwriter written notice thereof and shall also within six months after such
discovery furnish to the Underwriter affirmative proof of loss with full particulars. If claim is made under this Bond for loss
of securities or shares, the Underwriter shall not be liable unless each of such securities or shares is identified in such proof
of loss by a certificate or Bond number or, where such securities or shares are uncertificated, by such identification means as
agreed to by the Underwriter. The Underwriter shall have thirty days after notice and proof of loss within which to investigate
the claim, and this shall apply notwithstanding the loss is made up wholly or in part of securities of which duplicates may be
obtained. Legal proceedings for recovery of any loss hereunder shall not be brought prior to the expiration of sixty days after
such proof of loss is filed with the Underwriter nor after the expiration of twenty-four months from the discovery of such loss,
except that any action or proceeding to recover hereunder on account of any judgment against the Insured in any suit mentioned
in Gen- eral Agreement C or to recover attorneys' fees paid in any such suit, shall be begun within twentyfour months from the
date upon which the judgment in such suit shall become final. If any limitation embodied in this Bond is prohibited by any law
controlling the construction hereof, such limitation shall be deemed to be amended so as to be equal to the minimum period of limitation
permitted by such law.
Discovery occurs when the Insured
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(a)
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becomes aware of facts, or
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(b)
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receives written notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstance
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which
would cause a reasonable person to assume that a loss covered by the Bond has been or will
be incurred even though the exact amount or details of loss may not be then known.
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SECTION
5. VALUATION OF PROPERTY
The value of
any Property, except books of accounts or other records used by the Insured in the conduct of its business, for the loss of
which a claim shall be made hereunder, shall be deter- mined by the average market value of such Property on the business day
next preceding the discovery of such loss; provided, however, that the value of any Property replaced by the Insured prior to
the payment of claim therefor shall be the actual market value at the time of replacement; and further provided that in case
of a loss or misplacement of interim certificates, warrants, rights, or other securities, the production which is necessary
to the exercise of subscription, conversion, redemption or deposit privileges, the value thereof shall be the market value
of such privileges immediately preceding the expiration thereof if said loss or misplacement is not discovered until after
their expiration. If no market price is quoted for such Property or for such privileges, the value shall be fixed by
agreement between the parties or by arbitration.
In case of any loss or damage
to Property consisting of books of accounts or other records used by the Insured in the conduct of its business, the Underwriter
shall be liable under this Bond only if such books or records are actually reproduced and then for not more than the cost of
blank books, blank pages or other materials plus the cost of labor for the actual transcription or copying of data which shall
have been furnished by the Insured in order to reproduce such books and other records.
SECTION
6. VALUATION OF PREMISES AND FURNISHINGS
In case of damage to any office
of the Insured, or loss of or damage to the furnishings, fixtures, stationary, supplies, equipment, safes or vaults therin, the
Underwriter shall not be liable for more than the actual cash value thereof, or for more than the actual cost of their replacement
or repair. The Underwriter may, at its election, pay such actual cash value or make such replacement or repair. If the Underwriter
and the Insured can- not agree upon such cash value or such cost or replacement or repair, such shall be determined by arbitration.
SECTION
7. LOST SECURITIES
If
the Insured shall sustain a loss of securities the total value of which is in excess of the
limit stated in Item 3 of the Declarations of this Bond, the liability of the Underwriter shall be limited to payment for, or duplication
of, securities having value equal to the limit stated in Item 3 of the Declarations of this Bond.
If the Underwriter shall
make payment to the Insured for any loss of securities, the Insured shall thereupon assign to the Underwriter all of the Insured's
rights, title and interests in and to said securities.
With
respect to securities the value of which do not exceed the Deductible Amount (at the time
of the discovery of the loss) and for which the Underwriter may at its sole discretion and option and at the request of the Insured
issue a Lost Instrument Bond or Bonds to effect replacement thereof, the Insured will pay the usual premium charged therefor and
will indemnify the Underwriter against all loss or expense that the Underwriter may sustain because of the issuance of such
Lost Instrument Bond or Bonds.
With
respect to securities the value of which exceeds the Deductible Amount (at the time of discovery
of the loss) and for which the Underwriter may issue or arrange for the issuance of a Lost Instrument Bond or Bonds to effect
replacement thereof, the Insured agrees that it will pay as premium therefor a proportion of the usual premium charged therefor,
said proportion being equal to the percentage that the Deductible Amount bears to the value of the securities upon discovery of
the loss, and that it will indemnify the issuer of said Lost Instrument Bond or Bonds against all loss and expense that is not
recoverable from the Underwriter under the terms and conditions of this INVESTMENT COMPANY BOND subject to the Limit of Liability
hereunder.
SECTION
8. SALVAGE
In
case of recovery, whether made by the Insured or by the Underwriter, on account of any loss in excess of the Limit of Liability
hereunder plus the Deductible Amount applicable to such loss from any source other than suretyship, insurance, reinsurance,
security or indemnity taken by or for the benefit of the Underwriter, the net amount of such recovery, less the actual costs and
expenses of making same, shall be applied to reimburse the
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Insured
in full for the excess portion of such loss, and the remainder, if any, shall be paid first in reimbursement
of the Underwriter and there-after in reimbursement of the Insured for that part of such loss within the Deductible Amount. The
Insured shall execute all necessary papers to secure to the Underwriter the rights provided for herein.
SECTION
9. NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
At
all times prior to termination hereof this Bond shall continue in force for the limit stated
in the applicable sections of Item 3 of the Declarations of this Bond notwithstanding any previous loss for which the Underwriter
may have paid or be liable to pay hereunder; PROVIDED, however, that regardless of the number of years this Bond shall continue
in force and the number of premiums which shall be payable or paid, the liability of the Underwriter under this Bond with respect
to all loss resulting form
|
(a)
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any one act of burglary,
robbery or hold-up, or attempt thereat, in which no Partner or Employee is concerned or implicated shall be deemed to be one loss,
or
|
|
(b)
|
any one unintentional or negligent act on the part of any one person
resulting in damage to or destruction or misplacement of Property, shall be deemed to be one loss, or
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|
(c)
|
all wrongful acts, other than those specified in
(a) above, of
any one person shall be deemed to be one loss, or
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(d)
|
all wrongful acts, other than those specified in (a) above,
of one or more persons (which dishonest act(s) or act(s) of Larceny or Embezzlement include, but are not limited to, the
failure of an Employee to report such acts of others) whose dishonest act or acts intentionally or unintentionally,
knowingly or unknowingly, directly or indirectly, aid or aids in any way, or permits the continuation of, the dishonest
act or acts of any other person or persons shall be deemed to be one loss with the act or acts of the persons aided,
or
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|
(e)
|
any one casualty or event other than those specified in (a), (b),
(c) or (d) preceding, shall be deemed to be one loss, and shall be limited to the applicable Limit of Liability stated in Item
3
|
of
the Declarations of this Bond irrespective of the total amount of such loss or losses and
shall not be cumulative in amounts from year to year or from period to period.
Sub-section
(c) is not applicable to any situation to which the language of sub-section (d) applies.
SECTION
10. LIMIT OF LIABILITY
With
respect to any loss set forth in the PROVIDED clause of Section 9 of this Bond which is
recoverable or recovered in whole or in part under any other Bonds or Policies issued by the Underwriter to the Insured or to any
predecessor in interest of the Insured and terminated or cancelled or allowed to expire and in which the period for discovery
has not expired at the time any such loss thereunder is discovered, the total liability of the Underwriter under this Bond and
under other Bonds or Policies shall not exceed, in the aggregate, the amount carried hereunder on such loss or the amount available
to the Insured under such other Bonds, or Policies, as limited by the terms and conditions thereof, for any such loss if the latter
amount be the larger.
SECTION
11. OTHER INSURANCE
If
the Insured shall hold, as indemnity against any loss covered hereunder, any valid and enforceable
insurance or suretyship, the Underwriter shall be liable hereunder only for such amount of such loss which is in excess of the
amount of such other insurance or suretyship, not exceeding, however, the Limit of Liability of this Bond applicable to such
loss.
SECTION
12. DEDUCTIBLE
The Underwriter shall not
be liable under any of the Insuring Agreements of this Bond on account of loss as specified, respectively, in sub-sections (a),
(b), (c), (d) and (e) of Section 9, Non-Reduction And Nonaccumulation Of Liability And Total Liability, unless the amount of
such loss, after deducting the net amount of all reimbursement and/or recovery obtained or made by the insured, other than from
any Bond or Policy of insurance issued by an insurance company and covering such loss, or by the Underwriter on account thereof
prior to payment by the Underwriter of such loss, shall exceed the Deductible Amount set forth in Item 3 of the Declarations hereof
(herein called Deductible
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Amount) and then
for such excess only, but in no event for more than the applicable Limit of Liability stated in Item 3 of the Declarations.
The Insured will bear,
in addition to the Deductible Amount, premiums on Lost Instrument Bonds as set forth in Section 7.
There shall be no deductible
applicable to any loss under Insuring Agreement A sustained by any Investment Company named as Insured herein.
SECTION
13. TERMINATION
The Underwriter may terminate
this Bond as an entirety by furnishing written notice specifying the termination date which cannot be prior to 90 days after the
receipt of such written notice by each Investment Company named as Insured and the Securities and Exchange Commission, Washington,
D.C. The Insured may terminate this Bond as an entirety by furnishing written notice to the Underwriter. When the Insured cancels,
the Insured shall furnish written notice to the Securities and Exchange Commission, Washington, D.C. prior to 90 days before
the effective date of the termination. The Underwriter shall notify all other Investment Companies named as Insured of the receipt
of such termination notice and the termination cannot be effective prior to 90 days after receipt of written notice by all other
Investment Companies. Premiums are earned until the termination date as set forth herein.
This
Bond will terminate as to any one Insured, (other than a registered management investment
company), immediately upon taking over of such Insured by a receiver or other liquidator or by State or Federal officials, or immediately
upon the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment
for the benefit of creditors of the Insured, or immediately upon such Insured ceasing to exist, whether through merger into another
entity, or by disposition of all of its assets.
This
Bond will terminate as to any registered management investment company upon the expiration
of 90 days after written notice has been given to the Securities and Exchange Commission, Washington, D.C.
The Underwriter shall refund
the unearned premium computed as short rates in accordance with the standard short rate cancellation tables if terminated
by the Insured or
pro rata if terminated for any other reason.
This Bond shall terminate
|
(a)
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as to any Employee as soon as any partner,
officer or supervisory Employee of the Insured, who is not in collusion with such Employee, shall learn of any dishonest or
fraudulent act(s), including Larceny or Embezzlement on the part of such Employee without prejudice to the loss of any Property
then in transit in the custody of such Employee and upon the expiration of ninety (90) days after written notice has been given
to the Securities and Exchange Commission, Washington, D.C. (See Section 16(d)) and to the Insured Investment Company, or
|
|
(b)
|
as to any Employee 90 days after receipt
by each Insured and by the Securities and Exchange Commission of a written notice from the Underwriter of its desire to terminate
this Bond as to such Employee, or
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|
(c)
|
as to any person, who is a partner, officer
or employee of any Electronic Data Processor covered under this Bond, from and after the time that the Insured or any partner or
officer thereof not in collusion with such person shall have knowledge of information that such person has committed any dishonest
or fraudulent act(s), including Larceny or Embezzlement in the service of the Insured or otherwise, whether such act be committed
before or after the time this Bond is effective.
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SECTION
14. RIGHTS AFTER TERMINATION OR CANCELLATION
At
any time prior to the termination or cancellation of this Bond as an entirety, whether by
the Insured or the Underwriter, the Insured may give to the Underwriter notice that it desires under this Bond an additional period
of 12 months within which to discover loss sustained by the Insured prior to the effective date of such termination or cancellation
and shall pay an additional premium therefor.
Upon receipt of such
notice from the Insured, the Underwriter shall give its written consent thereto: provided, however, that such additional period
of time shall terminate immediately;
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(a)
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on the effective date
of any other insurance obtained by the Insured, its successor in business or any other party, replacing in whole or in part
the insurance afforded by this Bond, whether or not such other insurance provides coverage for loss sustained prior to its effective date, or
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(b)
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upon takeover of the Insured's
business by any State or Federal official or agency, or by any receiver or liquidator, acting or appointed for this purpose without
the necessity of the Underwriter giving notice of such termination. In the event that such additional period of time is terminated,
as provided above, the Underwriter shall refund any unearned premium.
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The right to purchase such
additional period for the discovery of loss may not be exercised by any State or Federal official or agency, or by any receiver
or liquidator, acting or appointed to take over the Insured's business for the operation or for the liquidation thereof or for
any other purpose.
SECTION
15. CENTRAL HANDLING OF SECURITIES
Securities
included in the systems for the central handling of securities established and maintained
by Depository Trust Company, Midwest Depository Trust Company, Pacific Securities Depository Trust Company, and Philadelphia
Depository Trust Company, hereinafter called Corporations, to the extent of the Insured's interest therein as effective by the
making of appropriate entries on the books and records of such Corporations shall be deemed to be Property.
The words "Employee"
and "Employees" shall be deemed to include the officers, partners, clerks and other employees of the New York Stock Exchange,
Boston Stock Exchange, Midwest Stock Exchange, Pacific Stock Exchange and Philadelphia Stock Exchange, hereinafter called Exchanges,
and of the above named Corporations, and of any nominee in whose name is registered any security included within the systems for
the central handling of securities established and maintained by such Corporations, and any employee of any recognized service
company, while such officers, partners, clerks and other employees and employees of service companies perform services for
such Corporations in the operation of such systems. For the purpose of the above definition a recognized service company
shall
be any company providing clerks or other personnel to said Exchanges or Corporation on a contract basis.
The Underwriter shall not
be liable on account of any loss(es) in connection with the central handling of securities within the systems established and maintained
by such Corporations, unless such loss(es) shall be in excess of the amount(s) recoverable or recovered under any Bond or Policy
if insurance indemnifying such Corporations, against such loss(es), and then the Underwriter shall be liable hereunder only for
the Insured's share of such excess loss(es), but in no event for more than the Limit of Liability applicable hereunder.
For
the purpose of determining the Insured's share of excess loss(es) it shall be deemed that
the Insured has an interest in any certificate representing any security included within such systems equivalent to the interest
the Insured then has in all certificates representing the same security included within such systems and that such Corporation
shall use their best judgment in apportioning the amount(s) recoverable or recovered under any Bond or Policy of insurance
indemnifying such Corporations against such loss(es) in connection with the central handling of securities within such systems
among all those having an interest as recorded by appropriate entries in the books and records of such Corporations in Property
involved in such loss(es) on the basis that each such interest shall share in the amount(s) so recoverable or recovered in the
ratio that the value of each such interest bears to the total value of all such interests and that the Insured's share of such
excess loss(es) shall be the amount of the Insured's interest in such Property in excess of the amount(s) so apportioned to the
Insured by such Corporations.
This
Bond does not afford coverage in favor of such Corporations or Exchanges or any nominee in
whose name is registered any security included within the systems for the central handling of securities established and maintained
by such Corporations, and upon payment to the Insured by the Underwriter on account of any loss(es) within the systems, an assignment
of such of the Insured's rights and causes of action as it may have against such Corporations or Exchanges shall to the extent
of such payment, be given by the Insured to the Underwriter, and the Insured shall execute all papers necessary to secure to the
Underwriter the rights provided for herein.
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SECTION
16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If
more than one corporation, co-partnership or person or any combination of them be included
as the Insured herein:
|
(a)
|
the total liability of the Underwriter hereunder
for loss or losses sustained by any one or more or all of them shall not exceed the limit for which the Underwriter would be liable
hereunder if all such loss were sustained by any one of them.
|
|
(b)
|
the one first named herein shall be deemed
authorized to make, adjust and receive and enforce payment of all claims hereunder and shall be deemed to be the agent of the others
for such purposes and for the giving or receiving of any notice required or permitted to be given by the terms hereof, provided
that the Underwriter shall furnish each named Investment Company with a copy of the Bond and with any amendment thereto, together
with a copy of each formal filing of the settlement of each such claim prior to the execution of such settlement,
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(c)
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the Underwriter shall not be responsible for
the proper application of any payment made hereunder to said first named Insured,
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(d)
|
knowledge possessed or discovery made by any
partner, officer or supervisory Employee of any Insured shall for the purpose of Section 4 and Section 13 of this Bond constitute
knowledge or discovery by all the Insured, and
|
|
(e)
|
if the first named Insured ceases for any
reason to be covered under this Bond, then the Insured next named shall thereafter be considered as the first named Insured
for the purposes of this Bond.
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SECTION
17. NOTICE AND CHANGE OF CONTROL
Upon
the Insured's obtaining knowledge of a transfer of its outstanding voting securities which
results in a change in control (as set forth in Section 2(a) (9) of the Investment Company Act of
1940)
of the Insured, the Insured shall within thirty (30) days of such knowledge give written
notice to the Underwriter setting forth:
|
(a)
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the names of the transferors and transferees
(or the names of the beneficial owners if the voting securities are requested in another name), and
|
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(b)
|
the total number of voting securities owned
by the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and
|
|
(c)
|
the total number of outstanding voting securities.
|
As
used in this section, control means the power to exercise a controlling influence over the
management or Policies of the Insured.
Failure
to give the required notice shall result in termination of coverage of this Bond, effective
upon the date of stock transfer for any loss in which any transferee is concerned or implicated.
Such
notice is not required to be given in the case of an Insured which is an Investment Company.
SECTION
18. CHANGE OR MODIFICATION
This
Bond or any instrument amending or effecting same may not be changed or modified orally.
No changes in or modification thereof shall be effective unless made by written Endorsement issued to form a part hereof over
the signature of the Underwriter's Authorized Representative. When a Bond covers only one Investment Company no change or modification
which would adversely affect the rights of the Investment Company shall be effective prior to 60 days after written notification
has been furnished to the Securities and Exchange Commission, Washington, D.C. by
the Insured or by the Underwriter. If more than one Investment Company is named as the Insured herein, the Underwriter shall give
written notice to each Investment Company and to the Securities and Exchange Commission, Washington, D.C.
not less than 60 days prior to the effective date of any change or modification which would
adversely affect the rights of such Investment Company.
FI 75 11 (Ed. 08/15)
|
(Page
13 of 13)
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015466
FI 88 01 (Ed. 10 11)
FORMS AND RIDERS SCHEDULE
It is hereby understood and agreed the following forms
and riders are attached to and are a part of this bond:
Form
No. / Edition
|
Date
Added *
or
Date Deleted
|
Form
Description
|
Rider
No.
(if applicable)
|
FI7510
|
11-16
|
|
Investment Company Bond Dec Page
|
|
FI7511
|
08-15
|
|
Investment Company Bond Insuring Agreements
|
|
FI7337
|
08-15
|
|
California Premium Rider/Endorsement
|
1
|
FI7500
|
08-15
|
|
Revision To Section 12. Deductible - Loss Reporting Threshold
|
2
|
FI7503
|
08-15
|
|
Counterfeit Currency Revision
|
3
|
FI7504
|
08-15
|
|
Newly Created Investment Companies
|
4
|
FI7506
|
08-15
|
|
Insuring Agreement (L) Computer Systems
|
5
|
FI7507
|
08-15
|
|
Insuring Agreement (M) Automated Phone Systems
|
6
|
FI7516
|
11-16
|
|
Insuring Agreement (N) Fraudulent Transfer Instructions
|
7
|
FI7345
|
08-15
|
|
Confidential Information And Data Breach Clarifying Rider
|
8
|
FI7340
|
08-15
|
|
Economic And Trade Sanctions Clause
|
|
FI7341
|
04-17
|
|
In-Witness Clause
|
|
* If not at inception
|
FI 88 01 (Ed. 10/11)
|
(Page 1 of 1)
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great American Insurance Company
015466
FI 73 37 (Ed. 08/15)
RIDER/ENDORSEMENT NO. 1
CALIFORNIA PREMIUM RIDER/ENDORSEMENT
To be attached to and form part of INVESTMENT COMPANY
BOND
Bond/Policy No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is
agreed that:
1.
|
In compliance with the ruling of the Commission of Insurance of
the State of California and the opinion of the Attorney General of that State requiring that the premium for all Bonds or Policies
be endorsed thereon, the basic premium charged for the attached bond/policy for the Bond/Policy Period:
|
|
From:
|
01/02/2020
|
|
|
|
|
To:
|
01/02/2021
|
|
|
|
|
Is:
|
Three Thousand One Hundred Fifty Two and 00/100 Dollars ($3,152)
|
2.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond/policy other than as
stated herein.
|
|
|
3.
|
This Rider/Endorsement shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI 73 37 (Ed. 08/15)
|
(Page 1 of 1)
|
|
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015466
FI 75 00 (Ed. 08/15)
RIDER NO. 2
REVISION TO SECTION 12.
DEDUCTIBLE - LOSS REPORTING THRESHOLD
To be attached to and form part of INVESTMENT
COMPANY BOND,
Bond No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is agreed that:
1.
|
Conditions and Limitations - Section 12. Deductible is amended by adding the following paragraph:
|
The Insured shall, in the time and in the manner
prescribed in this bond, give the Underwriter notice of any loss which is in excess of $ 25,000. Such loss shall be of the kind
covered by the terms of this bond, whether or not the Underwriter is liable therefore. Upon the request of the Underwriter, the
Insured shall file a brief statement with the Underwriter, giving the particulars concerning such loss.
2.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond other than as stated
herein.
|
|
|
3.
|
This Rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI 75 00 (Ed. 08/15)
|
(Page 1 of 1)
|
|
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015466
FI 75 03 (Ed. 08/15)
RIDER NO. 3
COUNTERFEIT CURRENCY REVISION
To be attached to and form part of INVESTMENT
COMPANY BOND,
Bond No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is agreed that:
1.
|
Insuring Agreement (F) Counterfeit Currency is deleted in its entirety and replaced by the following:
|
Insuring Agreement (F) Counterfeit Currency
Loss resulting directly from the receipt by the Insured,
in good faith, of any counterfeit money.
2.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond other than as stated
herein.
|
|
|
3.
|
This Rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI 7503 (Ed. 08/15)
|
(Page 1 of 1)
|
|
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015466
FI 75 04 (Ed. 08/15)
RIDER NO. 4
NEWLY CREATED INVESTMENT
COMPANIES
To be attached to and form part of INVESTMENT
COMPANY BOND,
Bond No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is agreed that:
1.
|
Item 1. Named of Insured on the Declarations Page shall include
any existing Investment Company or portfolios which are not listed under the Joint Insured Rider of the attached bond. It shall
also include any Newly Created Investment Company or portfolio provided that the Insured shall submit to the Underwriter, following
the end of the Bond Period, a list of all newly created portfolios and copies of any prospectuses and statements of additional
information relating to such newly created Investment Companies or portfolios unless said prospectus and statements of additional
information have been previously submitted.
|
Following the end of the Bond Period, any newly created
Investment Company or portfolio created during the Bond Period, will continue to be an Insured only if the Underwriter is notified
as set forth in the above paragraph, the information required herein is provided to the Underwriter, and the Underwriter acknowledges
the addition of such newly created Investment Company or portfolio to the bond by a Rider of this bond.
2.
|
It is further agreed that the following definition is added to Conditions and Limitations - Section
1. Definitions:
|
(g) Newly created Investment
Company or portfolio shall mean any Investment Company or portfolio for which registration with the SEC has been declared.
3.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond other than as stated
herein.
|
|
|
4.
|
This Rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI 7504 (Ed. 08/15)
|
(Page 1 of 1)
|
|
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015466
FI 75 05 (Ed. 08/15)
RIDER NO. 5
INSURING AGREEMENT (L) COMPUTER
SYSTEMS
To be attached to and form part of INVESTMENT
COMPANY BOND,
Bond No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is agreed that:
1.
|
The attached bond is hereby amended by adding to it an additional Insuring Agreement as follows:
|
INSURING AGREEMENT (L) - COMPUTER SYSTEMS
Loss resulting directly from a fraudulent
|
(1)
|
entry of data into, or
|
|
|
|
|
(2)
|
change of data elements or programs within a Computer System;
provided that fraudulent entry or change causes
|
|
(a)
|
Property to be transferred paid or delivered,
|
|
|
|
|
(b)
|
an account of the Insured, or of its customer, to be added, deleted, debited or credited, or
|
|
|
|
|
(c)
|
an unauthorized account or a fictitious account to be debited or credited;
|
|
|
|
|
(3)
|
voice instructions or advices having been transmitted to the Insured
or its agent(s) by telephone; and provided further, the fraudulent entry or change is made or caused by an individual acting with
the manifest intent to:
|
|
|
|
|
(a)
|
cause the Insured or its agent(s) to sustain a loss, and
|
|
|
|
|
(b)
|
obtain financial benefit for that individual or for other persons
intended by that individual to receive a financial benefit,
|
|
(c)
|
and further provided such voice instructions or advices:
|
|
|
|
|
(i)
|
were made by a person who purported to represent an individual
authorized to make such voice instructions or advices; and
|
|
(ii)
|
were electronically recorded by the Insured or its agent(s).
|
|
|
|
|
(4)
|
It shall be a condition to recovery under the Computer Systems
Rider that the Insured or its agent(s) shall to the best of their ability electronically record all voice instructions or advices
received over the telephone. The Insured or its agent(s) warrant that they shall make their best efforts to maintain the electronic
recording system on a continuous basis. Nothing, however, in this Rider shall bar the Insured from recovery where no recording
is available because of mechanical failure of the device used in making such recording, or because of failure of
|
FI 7506 (Ed. 08/15)
|
(Page 1 of 3)
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
the media used to record a conversation from
any cause, or error or omission of any Employee(s) or agent(s) of the Insured.
SCHEDULE OF SYSTEMS
Any System Utilized by the
Insured
|
2.
|
As used in this Rider, Computer System means:
|
|
|
|
|
(a)
|
computers with related peripheral components, including storage components, wherever located,
|
|
|
|
|
(b)
|
systems and applications software,
|
|
|
|
|
(d)
|
related communication networks or customer communication systems, and
|
|
|
|
|
(e)
|
related Electronic Funds Transfer Systems,
|
|
|
|
by which data are electronically collected, transmitted,
processed, stored, and retrieved.
|
3.
|
In addition to the Exclusions in the attached bond, the following
Exclusions are applicable to this Insuring Agreement:
|
|
|
|
|
(a)
|
loss resulting directly or indirectly from the theft of confidential information, material or
data: and
|
|
|
|
|
(b)
|
loss resulting directly or indirectly from entries or changes made
by an individual authorized to have access to a Computer System who acts in good faith on instructions, unless such instructions
are given to that individual by a software contractor (or by a partner, officer or employee thereof) authorized by the Insured
to design, develop, prepare, supply service, write or implement programs for the Insured's Computer System.
|
|
|
|
|
4.
|
The following portions of the attached bond are not applicable to this Rider:
|
|
|
|
|
(a)
|
the initial paragraph of the bond preceding the Insuring Agreements
which reads "...at any time but discovered during the Bond Period."
|
|
|
|
|
(b)
|
Conditions and Limitations - Section 9. Non-Reduction and Non-Accumulation
of Liability and Total Liability
|
|
|
|
|
(c)
|
Conditions and Limitations - Section 10. Limit of Liability
|
|
|
|
|
5.
|
The coverage afforded by this Rider applies only to loss discovered
by the Insured during the period this Rider is in force.
|
|
6.
|
All loss or series of losses involving the fraudulent activity
of one individual, or involving fraudulent activity in which one individual is implicated, whether or not that individual is specifically
identified, shall be treated as one loss. A series of losses involving unidentified individuals but arising from the same method
of operation may be deemed by the Underwriter to involve the same individual and in that event shall be treated as one loss.
|
|
|
|
|
7.
|
The Limit of Liability for the coverage provided by this Rider shall be $ 525,000.
|
|
|
|
|
8.
|
The Underwriter shall be liable hereunder for the amount by which
one loss shall be in excess of $ 25,000. (herein called the Deductible Amount) but not in excess of the Limit of Liability stated
above.
|
FI 75
06 (Ed. 08/15)
|
(Page 2 of 3)
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
|
9.
|
If any loss is covered under this Insuring Agreement and any other
Insuring Agreement or Coverage, the maximum amount payable for such loss shall not exceed the largest amount available under any
one Insuring Agreement or Coverage.
|
|
10.
|
Coverage under this Rider shall terminate upon termination or cancellation
of the bond to which this Rider is attached. Coverage under this Rider may also be terminated or cancelled without canceling the
bond as an entirety:
|
|
|
|
|
(a)
|
90 days after receipt by the Insured of written notice from the
Underwriter of its desire to terminate or cancel coverage under this Rider, or
|
|
|
|
|
(b)
|
immediately upon receipt by the Underwriter of a written request
from the Insured to terminate or cancel coverage under this Rider.
|
|
|
|
The Underwriter shall refund to the Insured
the unearned premium for this coverage under this Rider. The refund shall be computed at short rates if this Rider is terminated
or cancelled or reduces by notice from, or at the insistence of the Insured.
|
11.
|
Conditions and Limitations - Section 4. Loss-Notice-Proof-Legal
Proceedings is amended by adding the following sentence:
|
|
|
|
Proof of loss resulting from Voice Instructions
or advices covered under this bond shall include Electronic Recording of such Voice Instructions of advices.
|
12.
|
Notwithstanding the foregoing, however, coverage afforded by this
Rider is not designed to provide protection against loss covered under a separate Electronic and Computer Crime Policy by whatever
title assigned or by whatever Underwriter written. Any loss which is covered under such separate policy is excluded from coverage
under this bond; and the Insured agrees to make claim for such loss under its separate policy.
|
|
|
|
|
13.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond other than as stated
herein.
|
|
|
|
|
14.
|
This Rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI 75
06 (Ed. 08/15)
|
(Page 3 of 3 )
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
FI 75 07 (Ed. 08/15)
RIDER NO. 6
INSURING AGREEMENT (M) AUTOMATED
PHONE SYSTEMS
To be attached to and form part of INVESTMENT
COMPANY BOND,
Bond No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is agreed that:
|
1.
|
The attached bond is hereby amended by adding to it an additional Insuring Agreement as follows:
|
INSURING AGREEMENT (M) AUTOMATED PHONE SYSTEMS
Loss caused by an Automated Phone System ("APS")
Transaction, where the request for such APS Transaction is unauthorized or fraudulent and is made with the manifest intent to deceive;
provided, that the entity which receives such request generally maintains and follows during the Bond Period all APS Designated
Procedures with respect to APS Transaction. The unintentional isolated failure of such entity to maintain and follow a particular
APS Designated Procedure in a particular APS Designated Procedure in a particular instance shall not preclude coverage under this
Insuring Agreement, subject to the exclusions herein and in the bond.
|
1.
|
Definitions: The following terms as used in this Insuring Agreement shall have the following
meanings:
|
|
|
|
|
(a)
|
"APS Transaction" means any APS Redemption, APS Exchange or APS Election.
|
|
|
|
|
(b)
|
"APS Redemption" means any redemption of shares issued
by an Investment Company which is requested over the telephone by means of information transmitted by an individual caller through
use of a telephone keypad.
|
|
(c)
|
"APS Election" means any election concerning dividend
options available to Fund shareholders which is made over the telephone by means of information transmitted by an individual caller
through use of a telephone keypad.
|
|
(d)
|
"APS Exchange" means any exchange of shares in a registered
account of one Fund into shares in an identically registered account of another Fund in the same complex pursuant to exchange privileges
of the two Funds, which exchange is requested over the telephone by means of information transmitted by an individual caller through
use of a telephone keypad.
|
|
|
|
|
(e)
|
"APS Designated Procedures" means all of the following procedures:
|
|
|
|
|
(1)
|
Election in Application: No APS Redemption shall be executed unless
the shareholder to whose account such an APS Redemption relates has previously elected by Official Designation to permit such APS
Redemption.
|
|
(2)
|
Logging: All APS Transaction requests shall be logged or otherwise
recorded, so as to preserve all of the information transmitted by an individual caller through use of telephone keypad in the course
of such a request, and the records shall be retained for at least six months.
|
FI 75
07 (Ed. 08/15)
|
(Page 1 of 3 )
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
|
(a)
|
Information contained in the records shall be capable of being
retrieved through the following methods: audio tape and or transactions stored on computer disks
|
|
(b)
|
Information contained in the records shall be capable of being
retrieved and produced within a reasonable time after retrieval of specific information is requested, at a success rate of no loss
than 85 percent.
|
|
(3)
|
Identity Test: The identity of the caller in any request for an
APS Transaction shall be tested before executing that APS Transaction by requiring the entry by the caller of a confidential personal
identification number ("PIN")
|
|
(a)
|
Limited Attempts to Enter PIN: IF the caller fails to enter a correct
PIN within three attempts, the caller must not be allowed additional attempts during the same (telephone call/twenty-four hour
day) to enter the PIN. The caller may either be instructed to redial a customer service representative or may be immediately connected
to such a representative.
|
|
(4)
|
Written Confirmation: A written confirmation of any APS Transaction
shall be mailed to the shareholder(s) to whose account such APS Transaction relates, at the original record address, by the end
of the Insured's next regular processing cycle, but in no event later than five business days following such APS Transaction.
|
|
(5)
|
Access to APS Equipment: Access to the equipment which permits
the entity receiving the APS Transaction request to process and effect the transaction shall be limited in the following manner:
|
|
|
|
N/A
|
2.
|
Exclusions: It is further understood and agreed that this extension shall not cover:
|
|
|
|
|
(a)
|
Any loss covered under Insuring Agreement (A) Fidelity, of this bond;
|
|
|
|
|
(1)
|
The redemption of shares, where the proceeds of such redemption are made payable to other-than
|
|
|
|
|
(i)
|
the shareholder of record, or
|
|
|
|
|
(ii)
|
a person officially Designated to receive redemption proceeds, or
|
|
|
|
|
(iii)
|
a bank account officially Designated to receive redemption proceeds, or
|
|
|
|
|
(2)
|
The redemption of shares, where the proceeds of such redemption
are paid by check mailed to any address, unless such address has either been
|
|
(i)
|
designated by voice over the telephone or in writing without a signature
guarantee, in either case at least thirty(30) days prior to such redemption, or
|
|
(ii)
|
officially Designated, or
|
|
|
|
|
(iii)
|
verified by any other procedures which may be stated below in this Rider, or
|
|
|
|
|
(3)
|
The redemption of shares, where the proceeds of such redemption
are paid by wire transfer to other than the shareholder's officially Designated bank account, or
|
|
(4)
|
the Intentional failure to adhere to one or more APS Designated Procedures.
|
FI 75
07 (Ed. 08/15)
|
(Page 2 of 3 )
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
|
2.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond other than as stated
herein.
|
|
3.
|
This Rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI 75
07 (Ed. 08/15)
|
(Page 3 of 3 )
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
FI 75 16 (Ed. 11/16)
RIDER NO. 7
INSURING AGREEMENT (N) FRAUDULENT
TRANSFER INSTRUCTIONS
To be attached to and form part of the INVESTMENT
COMPANY BOND
Bond No. FS E426067 01 01
in favor of Pacific Global ETF Trust
|
1.
|
It is agreed that the following Insuring Agreement is added to the above Bond:
|
Loss resulting directly from
the Insured having, in good faith, transferred Money on deposit in a Customer's account, or a Customer's Certificated Securities,
in reliance upon a fraudulent Instruction transmitted to the Insured via electronic mail; provided, however that
|
(1)
|
The fraudulent instruction purports, and reasonably appears, to have originated from:
|
|
(b)
|
an Employee acting on instructions of such Customer; or
|
|
(c)
|
another financial institution acting on behalf of such Customer
with authority to make such instructions; and
|
|
(2)
|
The sender of the fraudulent instruction verified the instruction
with the password, PIN, or other security code of such Customer; and
|
|
(3)
|
The sender was not, in fact, such Customer, was not authorized
to act on behalf of such Customer, and was not an Employee of the Insured; and
|
|
(4)
|
The instruction was received by an Employee of the Insured specifically
authorized by the Insured to receive and act upon such instructions; and
|
|
(5)
|
For any transfer exceeding the amount set forth in item 7 of this
Rider, the Insured verified the instruction via a call back to a predetermined telephone number set forth in the Insured's written
agreement with such Customer or other verification procedure approved in writing by the Underwriter; and
|
|
|
|
|
(6)
|
The Insured preserved a contemporaneous record of the call back,
if any, and of the instruction which verifies use of the authorized password, PIN or other security code of the Customer.
|
|
2.
|
As used in this Rider, Customer means a natural person or entity
which has a written agreement with the Insured authorizing the Insured to transfer Money on deposit in an account or Certificated
Securities in reliance upon instructions transmitted to the Insured via the means utilized to transmit the fraudulent instruction.
|
|
3.
|
It shall be a condition precedent to coverage under this Insuring
Agreement that the Insured assert any available claims, offsets or defenses against such Customer, any financial institution or
any other party to the transaction.
|
FI
75 16 (Ed. 11/16)
|
(Page
1 of 2)
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
|
4.
|
The following additional Exclusions are added to the Bond applicable only to this Insuring Agreement:
|
|
|
|
|
(a)
|
loss resulting directly or indirectly from the fraudulent instruction
if the sender, or anyone acting in collusion with the sender, ever had authorized access to such Customer's password, PIN or other
security code; and
|
|
|
|
|
(b)
|
loss resulting directly or indirectly from the fraudulent alteration
of an instruction to initiate an automated clearing house (ACH) entry, or group of ACH entries, transmitted as an electronic message,
or as an attachment to an electronic message, sent via the Internet, unless:
|
|
|
|
|
(1)
|
each ACH entry was individually verified via the call back procedure
without regard to the amount of the entry; or
|
|
|
|
|
(2)
|
the instruction was formatted, encoded or encrypted so that any
alteration in the ACH entry or group of ACH entries would be apparent to the Insured.
|
|
5.
|
For purposes of this Insuring Agreement, all loss or losses involving
one natural person or entity, or one group of natural persons or entities acting together, shall be a Single Loss without regard
to the number of transfers or the number of instructions involved. A series of losses involving unidentified natural persons or
entities but arising from the same method of operation shall be deemed to involve the same natural person or entity and shall be
treated as Single Loss.
|
|
6.
|
The Limit of Liability and Deductible amount applicable to loss
under this Insuring Agreement is as stated in the Declarations of the attached bond.
|
|
7.
|
The amount of any single transfer for which verification via a call back will be required is
: $ 25,000.
|
|
8.
|
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements, or limitations of the above mentioned bond other than as stated
herein.
|
|
9.
|
This rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
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FI
75 16 (Ed. 11/16)
|
(Page
2 of 2)
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|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
FI 73 45 (Ed. 08/15)
RIDER NO. 8
CONFIDENTIAL INFORMATION
AND DATA BREACH CLARIFYING RIDER
To be attached to and form part of Investment Company
Bond
Bond No. FS E426067 01 01
In favor of Pacific Global ETF Trust
It is agreed
that:
1.
|
CONDITIONS AND LIMITATIONS, Section 2. Exclusions is amended to include:
|
Confidential Information:
Loss resulting from:
|
a)
|
Theft, disappearance, destruction or disclosure of the confidential
or personal information of the Insured or another person or entity for which the Insured is legally liable including, but not limited
to patents, trade secrets, personal information, processing methods, customer lists, financial information, credit card information,
intellectual property, health information, or any other type of non-public information.
|
For purposes of coverage that may be attached to the
Bond by Rider which pertains to Computer Systems, confidential information cannot be properly transferred. A loss otherwise covered
under the Computer Systems Rider (if attached) shall not be excluded by the fact that confidential information was used to gain
access to your computer system or to the computer system of your financial institution in order to cause the fraudulent transfer.
|
b)
|
The use of another person's or entity's confidential or personal
information including but not limited to, financial information, credit card information, health information or any other type
of non-public information.
|
Data Breach Costs:
Loss resulting from fees, costs, fines, penalties
and other expenses which are related to the access or disclosure of another person's or entity's confidential information, and
the obligations of the Insured to comply with federal and state privacy laws and Payment Card Industry Data Security Standards
(if applicable) arising from a data security breach, including, but not limited to, expenses related to notifying affected individuals
when the affected individuals' financial information, credit card information, health information or other type of non-public information
was stolen, accessed, downloaded or misappropriated while in the care, custody or control of the Insured.
2.
|
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, conditions and limitations, or provisions of the attached bond other than as above stated.
|
|
|
3.
|
This Rider shall become effective as of 12:01 a.m. on 01/02/2020 standard time.
|
FI
73 45 (Ed. 08/15)
|
(Page
1 of 1)
|
|
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
FI 73 40 (Ed. 08/15)
THIS RIDER CHANGES
YOUR BOND. PLEASE READ IT CAREFULLY.
ECONOMIC AND TRADE SANCTIONS CLAUSE
This insurance does not apply to the extent that
trade or economic sanctions or other laws or regulations prohibit us from providing insurance.
FI 73 40 (Ed. 08/15)
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
FI 73 41 (Ed. 04/17)
In Witness Clause
In Witness Whereof, we have caused this Financial Institution
Bond to be executed and attested, and, if required by state law, this Financial Institution Bond shall not be valid unless countersigned
by our authorized representative.
|
|
PRESIDENT
|
SECRETARY
|
Copyright Great American Insurance Co., 2009
FI 73 41 (Ed. 04/17)
R * B0 * 02/07/2020 * FS E426067 01 01 Great
American Insurance Company
015466
UWD 1000 (Ed. 03 09)
NOTICE TO POLICYHOLDER REGARDING REISSUANCE OF
YOUR INSURANCE POLICY
Voided Policy Number:
|
FS E426067 01 00
|
|
|
Reissued In-Force Policy Number:
|
FS E426067 01 01
|
|
|
Effective Date of Reissued In-Force Policy:
|
01/02/2020
|
This Notice confirms that we
have voided the Policy referenced above due to a change requested by you or made on your behalf. We have replaced the Voided Policy
with the Reissued In-Force Policy also referenced above. The Reissued In- Force Policy is enclosed.
The Voided Policy is void as of 12:01 a.m. on the
Effective Date of the Voided Policy.
If you have any questions, please contact your agent.
Thank you for your continuing business.
UWD 1000 (Ed. 03/09)
|
Page (1 of 1)
|
|
PACIFIC GLOBAL ETF TRUST
I, J.G. Lallande,
do hereby certify that I am the duly elected, qualified and acting Assistant Secretary of Pacific Global ETF Trust (the “Trust”),
a Delaware statutory trust, and I do hereby further certify that the following resolutions were duly adopted by the Board of Trustees
of the Trust, including a majority of the Trustees who are not interested persons of the Trust as defined in the Investment Company
Act of 1940, as amended, on December 6, 2019 and by written consent on February 14, 2020, and that such resolutions are in
full force and effect as of the date hereof.
WHEREAS,
Pacific Global ETF Trust, a Delaware statutory trust, is required to maintain a fidelity bond in the amount required pursuant to
Rule 17g-1 of the Investment Company Act of 1940, as amended (the “1940 Act”); and
WHEREAS,
the Trustees were presented with information on the bond, providers and their ratings, and the costs associated therewith at the
December 6, 2019 meeting, relating to the participation of USDY, IDY and FJNK in the Trust’s Joint Fidelity Bond (the “Bond”);
and
WHEREAS,
the Trustees have been provided with further information relating to the inclusion of FLRT’s participation in the Bond.
RESOLVED,
that the Trustees find that the participation of USDY, IDY, FJNK and FLRT (the “Funds”) in the Trust’s
Joint Fidelity Bond (the “Bond”) is in the best interest of the Funds; and it is that the portion of the premium for
the Bond to be paid by each Fund, in substantially the form presented at the meeting, after consideration of all factors deemed
relevant by the Board, including but not limited to: (i) the number of the other parties named as insureds; (ii) the nature of
the business activities of such other parties; (iii) the amount of the Bond; (iv) the amount of the premium for such Bond; (v)
the ratable allocation of the premium among all parties named as insureds; (vi) the extent to which the share of the premium allocated
to the Trust is less than the premium such Trust would have had to pay if it had provided and maintained a single insured bond,
be, and hereby is ratified and approved; and it is
FURTHER
RESOLVED, that the Trustees find that the premium to be paid by each Fund in respect of such Bond is fair and reasonable
provided that the allocation of the premium be in accordance with a formula under which each Fund pays no more than its pro-rata
share of the premium based on relative asset size and, in any event, each Fund would pay no more than the premium of an individual
policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies
obtained by each Fund participating in the Bond; and it is
FURTHER
RESOLVED, that the proper officers of the Trust are authorized to execute and deliver such documents, if any, as may
be necessary for each Fund to participate in the Bond; and it is
FURTHER
RESOLVED, that the proper officers of the Trust are directed and authorized to make or cause to be made any filings
or noticed with respect to such Bond required by Rule 17g-1 under the 1940 Act.
The undersigned further certifies that
premiums are being paid for the coverage period January 2, 2020 through January 2, 2021.
IN
WITNESS WHEREOF, the undersigned has caused this certificate to be executed this 18th day of February 2020.
/s/ J. G. Lallande
|
|
Assistant Secretary
|
|
Pacific Global ETF Trust
|
|
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