1. Introduction to the Michigan Management Agreement: The Michigan Management Agreement is a legally binding contract between Advisers Managers Trust and Berger and Berman Management Inc. It outlines the terms and conditions related to the management of investment funds and the provision of investment advisory services. 2. Key Parties Involved: The agreement involves two key parties: Advisers Managers Trust and Berger and Berman Management Inc. Advisers Managers Trust represents the interests of the investors, while Berger and Berman Management Inc. is responsible for managing the investment funds. 3. Purpose and Scope of the Agreement: The purpose of the Michigan Management Agreement is to define the roles, responsibilities, and obligations of both parties involved in the management of investment funds for the benefit of investors. It covers various aspects, including fund management, administrative expenses, compensation, termination clauses, and dispute resolution procedures. 4. Fund Management: Under the agreement, Berger and Berman Management Inc. assume responsibility for managing the investment funds in accordance with the investment objectives and guidelines established by Advisers Managers Trust. This includes making investment decisions, asset allocation, and implementing investment strategies. 5. Administrative Expenses: The agreement outlines the administrative expenses incurred during the management of funds and defines the responsibilities of both parties. It specifies how these expenses will be calculated, allocated, and reimbursed. 6. Compensation: The compensation structure for Berger and Berman Management Inc. is defined in the agreement. It typically includes a management fee, which is a percentage of the average daily net assets of the investment funds. The agreement may also outline performance-based incentives and any other applicable fees. 7. Termination: The Michigan Management Agreement includes provisions for termination by either party. It outlines the circumstances under which termination can occur, the notice period required, and the procedure for wind-down and transition of fund management responsibilities. 8. Dispute Resolution: In the event of any disputes or disagreements between the parties, the agreement provides a mechanism for resolution through arbitration or mediation. This ensures that any conflicts are handled promptly and efficiently. Different types of Michigan Management Agreements: The Michigan Management Agreement may vary depending on the specific investment products or services offered. Different types of agreements may include: a. Mutual Fund Management Agreement: This agreement specifically pertains to the management of mutual funds, including open-ended funds, closed-end funds, and exchange-traded funds (ETFs). b. Hedge Fund Management Agreement: In the case of hedge funds, this agreement caters to the unique investment strategies and requirements of these alternative investment vehicles. c. Private Equity Fund Management Agreement: For private equity funds, a separate agreement may be established to address the specific needs and characteristics associated with this asset class. d. Real Estate Investment Fund Management Agreement: In the case of real estate investment funds, the agreement may focus on the unique aspects of managing properties and real estate assets. It is important to note that the specific terms and conditions of these agreements may differ based on the investment products or services offered, as well as the preferences and requirements of both parties involved.
Michigan Management Agreement between Advisers Managers Trust and Neuberger and Berman Management Inc.
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FAQ
The main purpose of a management contract is to lay out the terms and conditions of the relationship. This includes the duties and responsibilities of the manager, as well as the compensation they would receive for their services.
A management agreement is a legal contract through which a company enables another company to have control of another business's operations. Business owners often sign these written agreements directly with the management company.
These agreements protect the rights of both the employees and company. Attorneys for both sides of the agreement establish the wage rates, working conditions, and benefits that employees will receive while performing specific services for the company.
Below is an example of a management contract: ABC Consulting agrees to provide management services to XYZ Corporation for the period of January 1, 2022, to December 31, 2022. ABC Consulting will be responsible for managing the sales department of XYZ Corporation, including its employees, processes, and systems.
A business management agreement is a contract between the owner of a company and one or more people responsible for managing the company. It outlines the specific roles, responsibilities, and duties of each party involved.