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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 11 of 19
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Conditions And
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Limitations
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General Exclusions -
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h.
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loss resulting from dishonest acts by any member of the Board of Directors
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Applicable to All Insuring
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or Board of Trustees of the ASSURED who is not an
Employee
, acting
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Clauses
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alone or in collusion with others;
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(continued)
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i.
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loss, or that part of any loss, resulting solely from any violation by the
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ASSURED or by any
Employee
:
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(1
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of any law regulating:
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a.
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the issuance, purchase or sale of securities,
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b.
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securities transactions on security or commodity exchanges or
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the over the counter market,
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c.
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investment companies,
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d.
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investment advisors, or
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(2
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of any rule or regulation made pursuant to any such law; or
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j.
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loss of confidential information, material or data;
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k.
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loss resulting from voice requests or instructions received over the
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telephone, provided however, this Section 2.k. shall not apply to INSURING
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CLAUSE 7. or 9.
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Specific Exclusions -
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3
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.
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This Bond does not directly or indirectly cover:
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Applicable To All Insuring
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a.
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loss caused by an
Employee
,
provided, however, this Section 3.a. shall not
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Clauses Except Insuring
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apply to loss covered under INSURING CLAUSE 2. or 3. which results
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Clause 1.
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directly from misplacement, mysterious unexplainable disappearance, or
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damage or destruction of
Property
;
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b.
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loss through the surrender of property away from premises of the ASSURED
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as a result of a threat:
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(1
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to do bodily harm to any natural person, except loss of
Property
in
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transit in the custody of any person acting as messenger of the
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ASSURED, provided that when such transit was initiated there was no
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knowledge by the ASSURED of any such threat, and provided further
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that this Section 3.b. shall not apply to INSURING CLAUSE 7., or
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(2
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to do damage to the premises or
Property
of the ASSURED;
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c.
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loss resulting from payments made or withdrawals from any account
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involving erroneous credits to such account;
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d.
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loss involving
Items of Deposit
which are not finally paid for any reason
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provided however, that this Section 3.d. shall not apply to INSURING
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CLAUSE 10.;
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e.
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loss of property while in the mail;
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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 12 of 19
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Conditions And
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Limitations
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Specific Exclusions -
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f.
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loss resulting from the failure for any reason of a financial or depository
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Applicable To All Insuring
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institution, its receiver or other liquidator to pay or deliver funds or other
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Clauses Except Insuring
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Property
to the ASSURED provided further that this Section 3.f. shall
not
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Clause 1.
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apply to loss of
Property
resulting directly from robbery, burglary,
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(continued)
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misplacement, mysterious unexplainable disappearance, damage,
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destruction or removal from the possession, custody or control of the
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ASSURED.
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g.
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loss of
Property
while in the custody of a
Transportation Company
,
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provided however, that this Section 3.g. shall not apply to INSURING
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CLAUSE 3.;
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h.
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loss resulting from entries or changes made by a natural person with
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authorized access to a
Computer System
who acts in good faith on
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instructions, unless such instructions are given to that person by a software
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contractor or its partner, officer, or employee authorized by the ASSURED to
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design, develop, prepare, supply, service, write or implement programs for
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the ASSURED's
Computer System
; or
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i.
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loss resulting directly or indirectly from the input of data into a
Computer
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System
terminal, either on the premises of the customer of the
ASSURED
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or under the control of such a customer, by a customer or other person who
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had authorized access to the customer's authentication mechanism.
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Specific Exclusions -
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4
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.
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This bond does not directly or indirectly cover:
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Applicable To All Insuring
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a.
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loss resulting from the complete or partial non-payment of or default on any
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Clauses Except Insuring
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loan whether such loan was procured in good faith or through trick, artifice,
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Clauses 1., 4., And 5.
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fraud or false pretenses; provided, however, this Section 4.a. shall not apply
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to INSURING CLAUSE 8.;
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b.
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loss resulting from forgery or any alteration;
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c.
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loss involving a counterfeit provided, however, this Section 4.c. shall not
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apply to INSURING CLAUSE 5. or 6.
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Limit Of Liability/Non-
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5
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.
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At all times prior to termination of this Bond, this Bond shall continue in force for
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Reduction And Non-
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the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS,
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Accumulation Of Liability
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notwithstanding any previous loss for which the COMPANY may have paid or be
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liable to pay under this Bond provided, however, that the liability of the COMPANY
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under this Bond with respect to all loss resulting from:
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a.
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any one act of burglary, robbery or hold-up, or attempt thereat, in which no
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Employee
is concerned or implicated, or
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b.
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any one unintentional or negligent act on the part of any one person
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resulting in damage to or destruction or misplacement of
Property
, or
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c.
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all acts, other than those specified in a. above, of any one person, or
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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 13 of 19
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Conditions And
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Limitations
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Limit Of Liability/Non-
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d.
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any one casualty or event other than those specified in a., b., or c. above,
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Reduction And Non-
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shall be deemed to be one loss and shall be limited to the applicable LIMIT OF
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Accumulation Of Liability
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LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of
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(continued)
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the total amount of such loss or losses and shall not be cumulative in amounts
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from year to year or from period to period.
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All acts, as specified in c. above, of any one person which
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i.
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directly or indirectly aid in any way wrongful acts of any other person or
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persons, or
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ii.
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permit the continuation of wrongful acts of any other person or persons
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whether such acts are committed with or without the knowledge of the wrongful
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acts of the person so aided, and whether such acts are committed with or without
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the intent to aid such other person, shall be deemed to be one loss with the
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wrongful acts of all persons so aided.
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Discovery
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6
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.
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This Bond applies only to loss first discovered by an officer of the ASSURED
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during the BOND PERIOD. Discovery occurs at the earlier of an officer of the
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ASSURED being aware of:
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a.
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facts which may subsequently result in a loss of a type covered by this Bond,
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or
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b.
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an actual or potential claim in which it is alleged that the ASSURED is liable
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to a third party,
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regardless of when the act or acts causing or contributing to such loss occurred,
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even though the amount of loss does not exceed the applicable DEDUCTIBLE
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AMOUNT, or the exact amount or details of loss may not then be known.
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Notice To Company -
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7
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a.
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The ASSURED shall give the COMPANY notice thereof at the earliest
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Proof - Legal Proceedings
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practicable moment, not to exceed sixty (60) days after discovery of loss, in
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Against Company
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an amount that is in excess of 50% of the applicable DEDUCTIBLE
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AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
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b.
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The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to,
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with full particulars within six (6) months after such discovery.
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c.
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Securities listed in a proof of loss shall be identified by certificate or bond
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numbers, if issued with them.
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d.
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Legal proceedings for the recovery of any loss under this Bond shall not be
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brought prior to the expiration of sixty (60) days after the proof of loss is filed
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with the COMPANY or after the expiration of twenty-four (24) months from
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the discovery of such loss.
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e.
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This Bond affords coverage only in favor of the ASSURED. No claim, suit,
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action or legal proceedings shall be brought under this Bond by anyone
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other than the ASSURED.
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|
ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 14 of 19
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Conditions And
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Limitations
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Notice To Company -
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f.
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Proof of loss involving
Voice Initiated Funds Transfer Instruction
shall
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Proof - Legal Proceedings
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include electronic recordings of such instructions.
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Against Company
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(continued)
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Deductible Amount
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8
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The COMPANY shall not be liable under any INSURING CLAUSES of this Bond
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on account of loss unless the amount of such loss, after deducting the net amount
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of all reimbursement and/or recovery obtained or made by the ASSURED, other
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than from any Bond or policy of insurance issued by an insurance company and
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covering such loss, or by the COMPANY on account thereof prior to payment by
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the COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in
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ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event
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for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the
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DECLARATIONS.
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There shall be no deductible applicable to any loss under INSURING CLAUSE 1.
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sustained by any
Investment Company
.
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Valuation
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9
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.
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BOOKS OF ACCOUNT OR OTHER RECORDS
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The value of any loss of
Property
consisting of books of account or other records
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used by the ASSURED in the conduct of its business shall be the amount paid by
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the ASSURED for blank books, blank pages, or other materials which replace the
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lost books of account or other records, plus the cost of labor paid by the
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ASSURED for the actual transcription or copying of data to reproduce such books
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of account or other records.
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The value of any loss of
Property
other than books of account or other records
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used by the ASSURED in the conduct of its business, for which a claim is made
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shall be determined by the average market value of such
Property
on the
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business day immediately preceding discovery of such loss provided, however,
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that the value of any
Property
replaced by the ASSURED with the consent of the
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COMPANY and prior to the settlement of any claim for such
Property
shall be the
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actual market value at the time of replacement.
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In the case of a loss of interim certificates, warrants, rights or other securities, the
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production of which is necessary to the exercise of subscription, conversion,
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redemption or deposit privileges, the value of them shall be the market value of
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such privileges immediately preceding their expiration if said loss is not discovered
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until after their expiration. If no market price is quoted for such
Property
or for
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such privileges, the value shall be fixed by agreement between the parties.
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OTHER PROPERTY
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The value of any loss of
Property
, other than as stated above, shall be the actual
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cash value or the cost of repairing or replacing such
Property
with
Property
of
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like quality and value, whichever is less.
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ICAP Bond (5-98)
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Form 17-02-1421 (Ed. 5-98)
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Page 15 of 19
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Conditions And
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Limitations
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(continued)
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Securities Settlement
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10
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In the event of a loss of securities covered under this Bond, the COMPANY may,
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at its sole discretion, purchase replacement securities, tender the value of the
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securities in money, or issue its indemnity to effect replacement securities.
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The indemnity required from the ASSURED under the terms of this Section
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against all loss, cost or expense arising from the replacement of securities by the
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COMPANY'S indemnity shall be:
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a.
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for securities having a value less than or equal to the applicable
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DEDUCTIBLE AMOUNT - one hundred (100%) percent;
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b.
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for securities having a value in excess of the DEDUCTIBLE AMOUNT but
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within the applicable LIMIT OF LIABILITY - the percentage that the
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DEDUCTIBLE AMOUNT bears to the value of the securities;
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c.
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for securities having a value greater than the applicable LIMIT OF LIABILITY
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- the percentage that the DEDUCTIBLE AMOUNT and portion in excess of
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the applicable LIMIT OF LIABILITY bears to the value of the securities.
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The value referred to in Section 10.a., b., and c. is the value in accordance with
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Section 9, VALUATION, regardless of the value of such securities at the time the
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loss under the COMPANY'S indemnity is sustained.
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The COMPANY is not required to issue its indemnity for any portion of a loss of
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securities which is not covered by this Bond; however, the COMPANY may do so
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as a courtesy to the ASSURED and at its sole discretion.
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The ASSURED shall pay the proportion of the Company's premium charge for the
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Company's indemnity as set forth in Section 10.a., b., and c. No portion of the
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LIMIT OF LIABILITY shall be used as payment of premium for any indemnity
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purchased by the ASSURED to obtain replacement securities.
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Subrogation - Assignment -
11.
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In the event of a payment under this Bond, the COMPANY shall be subrogated to
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Recovery
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all of the ASSURED'S rights of recovery against any person or entity to the extent
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of such payment. On request, the ASSURED shall deliver to the COMPANY an
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assignment of the ASSURED'S rights, title and interest and causes of action
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against any person or entity to the extent of such payment.
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Recoveries, whether effected by the COMPANY or by the ASSURED, shall be
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applied net of the expense of such recovery in the following order:
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a.
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first, to the satisfaction of the ASSURED'S loss which would otherwise have
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been paid but for the fact that it is in excess of the applicable LIMIT OF
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LIABILITY,
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b.
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second, to the COMPANY in satisfaction of amounts paid in settlement of
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the ASSURED'S claim,
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c.
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third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE
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AMOUNT, and
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ICAP Bond (5-98)
|
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Form 17-02-1421 (Ed. 5-98)
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Page 16 of 19
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Conditions And
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Limitations
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Subrogation - Assignment -
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d.
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fourth, to the ASSURED in satisfaction of any loss suffered by the
|
Recovery
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ASSURED which was not covered under this Bond.
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(continued)
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Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a
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recovery under this section.
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Cooperation Of Assured
|
12
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.
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At the COMPANY'S request and at reasonable times and places designated by
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the COMPANY, the ASSURED shall:
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a.
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submit to examination by the COMPANY and subscribe to the same under
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oath,
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b.
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produce for the COMPANY'S examination all pertinent records, and
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c.
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cooperate with the COMPANY in all matters pertaining to the loss.
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The ASSURED shall execute all papers and render assistance to secure to the
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COMPANY the rights and causes of action provided for under this Bond. The
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ASSURED shall do nothing after loss to prejudice such rights or causes of action.
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Termination
|
13
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.
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If the Bond is for a sole ASSURED, it shall not be terminated unless written notice
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shall have been given by the acting party to the affected party and to the
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Securities and Exchange Commission, Washington, D.C., not less than sixty (60)
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days prior to the effective date of such termination.
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If the Bond is for a joint ASSURED, it shall not be terminated unless written notice
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shall have been given by the acting party to the affected party, and by the
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COMPANY to all ASSURED
Investment Companies
and to the Securities and
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Exchange Commission, Washington, D.C., not less than sixty (60) days prior to
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the effective date of such termination.
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This Bond will terminate as to any one ASSURED, other than an
Investment
|
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Company
:
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a.
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immediately on the taking over of such ASSURED by a receiver or other
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liquidator or by State or Federal officials, or
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b.
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immediately on the filing of a petition under any State or Federal statute
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relative to bankruptcy or reorganization of the ASSURED, or assignment for
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the benefit of creditors of the ASSURED, or
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c.
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immediately upon such ASSURED ceasing to exist, whether through merger
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into another entity, disposition of all of its assets or otherwise.
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The COMPANY shall refund the unearned premium computed at short rates in
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accordance with the standard short rate cancellation tables if terminated by the
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ASSURED or pro rata if terminated for any other reason.
|
|
|
ICAP Bond (5-98)
|
|
Form 17-02-1421 (Ed. 5-98)
|
Page 17 of 19
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Conditions And
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Limitations
|
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Termination
|
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|
If any partner, director, trustee, or officer or supervisory employee of an
|
(continued)
|
|
|
ASSURED not acting in collusion with an
Employee
learns of any dishonest act
|
|
|
|
committed by such
Employee
at any time, whether in the employment of the
|
|
|
|
ASSURED or otherwise, whether or not such act is of the type covered under this
|
|
|
|
Bond, and whether against the ASSURED or any other person or entity, the
|
|
|
|
ASSURED:
|
|
|
|
|
a.
|
shall immediately remove such
Employee
from a position that would enable
|
|
|
|
|
such
Employee
to cause the ASSURED to
suffer a loss covered by this
|
|
|
|
|
Bond; and
|
|
|
|
|
b.
|
within forty-eight (48) hours of learning that an
Employee
has committed
|
|
|
|
|
any dishonest act, shall notify the COMPANY, of such action and provide full
|
particulars of such dishonest act.
|
|
|
|
|
The COMPANY may terminate coverage as respects any
Employee
sixty (60)
|
|
|
|
days after written notice is received by each ASSURED
Investment
Company
|
|
|
|
and the Securities and Exchange Commission, Washington, D.C. of its desire to
|
|
|
|
terminate this Bond as to such
Employee
.
|
|
|
Other Insurance
|
14
|
.
|
Coverage under this Bond shall apply only as excess over any valid and collectible
|
|
|
|
insurance, indemnity or suretyship obtained by or on behalf of:
|
|
|
|
|
a.
|
the ASSURED,
|
|
|
|
|
b.
|
a
Transportation Company
, or
|
|
|
|
|
c.
|
another entity on whose premises the loss occurred or which employed the
|
|
|
|
|
person causing the loss or engaged the messenger conveying the
Property
|
|
|
|
|
involved.
|
|
|
Conformity
|
15
|
.
|
If any limitation within this Bond is prohibited by any law controlling this Bond's
|
|
|
|
construction, such limitation shall be deemed to be amended so as to equal the
|
|
|
|
minimum period of limitation provided by such law.
|
|
|
Change or Modification
|
16
|
.
|
This Bond or any instrument amending or affecting this Bond may not be changed
|
|
|
|
or modified orally. No change in or modification of this Bond shall be effective
|
|
|
|
except when made by written endorsement to this Bond signed by an authorized
|
|
|
|
representative of the COMPANY.
|
|
|
|
|
If this Bond is for a sole ASSURED, no change or modification which would
|
|
|
|
adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
|
|
|
|
days after written notice has been furnished to the Securities and Exchange
|
|
|
|
Commission, Washington, D.C., by the acting party.
|
|
|
ICAP Bond (5-98)
|
|
Form 17-02-1421 (Ed. 5-98)
|
Page 18 of 19
|
|
|
Conditions And
|
|
Limitations
|
|
|
|
Change or Modification
|
If this Bond is for a joint ASSURED, no charge or modification which would
|
(continued)
|
adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
|
|
days after written notice has been furnished to all insured
Investment Companies
|
|
and to the Securities and Exchange Commission, Washington, D.C., by the
|
|
COMPANY.
|
|
|
ICAP Bond (5-98)
|
|
Form 17-02-1421 (Ed. 5-98)
|
Page 19 of 19
|
|
|
FEDERAL INSURANCE COMPANY
|
Endorsement No:
|
1
|
Bond Number:
|
82210832
|
NAME OF ASSURED: COLUMBIA WANGER ASSET MANAGEMENT
|
|
|
AMEND NAME OF ASSURED ENDORSEMENT
|
It is agreed that NAME OF ASSURED of the DECLARATIONS for this Bond is amended to include the
|
following:
|
|
Columbia Acorn Trust
|
|
Wanger Advisors Trust
|
|
|
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2013.
|
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
|
Date: January 10, 2014
|
|
ICAP Bond
|
|
Form 17-02-6272 (Ed. 8-04)
|
Page 1
|
|
|
|
|
|
|
|
|
|
ENDORSEMENT/RIDER
|
Effective date of
|
|
|
this endorsement/rider: October 1, 2013
|
FEDERAL INSURANCE COMPANY
|
|
|
|
Endorsement/Rider No.
|
2
|
|
|
|
To be attached to and
|
|
|
|
|
form a part of Bond No.
|
82210832
|
|
|
Issued to: COLUMBIA WANGER ASSET MANAGEMENT
|
|
|
|
DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
|
ENDORSEMENT
|
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
|
1
|
.
|
The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.
|
2
|
.
|
The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced
|
|
|
with the following:
|
|
|
|
|
If this Bond is for a joint ASSURED, no change or modification which would adversely affect the
|
|
|
rights of the ASSURED shall be effective prior to sixty (60) days after written notice has been
|
|
|
furnished to all insured
Investment Companies
and the Securities and Exchange Commission,
|
|
|
Washington, D.C., by the COMPANY.
|
|
|
|
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the
|
terms and conditions of coverage.
|
|
|
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
|
17-02-2437 (12/2006) rev.
Page 1
|
|
|
ENDORSEMENT/RIDER
|
|
Effective date of
|
|
this endorsement/rider: October 1, 2013
|
FEDERAL INSURANCE COMPANY
|
|
Endorsement/Rider No. 3
|
|
To be attached to and
|
|
form a part of Policy No. 82210832
|
|
Issued to: COLUMBIA WANGER ASSET MANAGEMENT
|
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS
|
It is agreed that this insurance does not apply to the extent that trade or economic sanctions or other similar laws or
|
regulations prohibit the coverage provided by this insurance.
|
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and
|
conditions of coverage.
|
|
All other terms, conditions and limitations of this Policy shall remain unchanged.
|
14-02-9228 (2/2010)
Page
1
|
Important Notice:
|
|
|
|
The SEC Requires Proof of Your Fidelity Insurance Policy
|
|
Your company is now required to file an electronic copy of your fidelity insurance coverage
|
(Chubb’s ICAP Bond policy) to the Securities and Exchange Commission (SEC), according to
|
rules adopted by the SEC on June 12, 2006.
|
|
Chubb is in the process of providing your agent/broker with an electronic copy of your insurance
|
policy as well as instructions on how to submit this proof of fidelity insurance coverage to the
|
SEC. You can expect to receive this information from your agent/broker shortly.
|
|
The electronic copy of your policy is provided by Chubb solely as a convenience and does not
|
affect the terms and conditions of coverage as set forth in the paper policy you receive by mail.
|
The terms and conditions of the policy mailed to you, which are the same as those set forth in
|
the electronic copy, constitute the entire agreement between your company and Chubb.
|
|
If you have any questions, please contact your agent or broker.
|
Form 14-02-12160 (ed. 7/2006)
|
IMPORTANT NOTICE TO POLICYHOLDERS
|
|
|
|
All of the members of the Chubb Group of Insurance companies doing business in the United
|
States (hereinafter Chubb) distribute their products through licensed insurance brokers and agents
|
(producers). Detailed information regarding the types of compensation paid by Chubb to producers on
|
US insurance transactions is available under the Producer Compensation link located at the bottom of the
|
page at www.chubb.com, or by calling 1-866-588-9478. Additional information may be available from
|
your producer.
|
|
Thank you for choosing Chubb.
|
10-02-1295 (ed. 6/2007)
|
POLICYHOLDER
|
DISCLOSURE NOTICE OF
|
TERRORISM INSURANCE COVERAGE
|
(for policies with no terrorism exclusion or sublimit)
|
You are hereby notified that, under the Terrorism Risk Insurance Act (the Act), effective
|
December 26, 2007, this policy makes available to you insurance for losses arising out of
|
certain acts of terrorism. Terrorism is defined as any act certified by the Secretary of the
|
Treasury, in concurrence with the Secretary of State and the Attorney General of the
|
United States, to be an act of terrorism; to be a violent act or an act that is dangerous to
|
human life, property or infrastructure; to have resulted in damage within the United
|
States, or outside the United States in the case of an air carrier or vessel or the premises
|
of a United States Mission; and to have been committed by an individual or individuals as
|
part of an effort to coerce the civilian population of the United States or to influence the
|
policy or affect the conduct of the United States Government by coercion.
|
|
You should know that the insurance provided by your policy for losses caused by acts of
|
terrorism is partially reimbursed by the United States under the formula set forth in the
|
Act. Under this formula, the United States pays 85% of covered terrorism losses that
|
exceed the statutorily established deductible to be paid by the insurance company
|
providing the coverage.
|
|
However, if aggregate insured losses attributable to terrorist acts certified under the Act
|
exceed $100 billion in a Program Year (January 1 through December 31), the Treasury
|
shall not make any payment for any portion of the amount of such losses that exceeds
|
$100 billion.
|
10-02-1281 (Ed. 1/2003)
|
If aggregate insured losses attributable to terrorist acts certified under the Act exceed
|
$100 billion in a Program Year (January 1 through December 31) and we have met our
|
insurer deductible under the Act, we shall not be liable for the payment of any portion of
|
the amount of such losses that exceeds $100 billion, and in such case insured losses up
|
to that amount are subject to pro rata allocation in accordance with procedures
|
established by the Secretary of the Treasury.
|
|
The portion of your policys annual premium that is attributable to insurance for such acts
|
of terrorism is: $
-0-.
|
|
If you have any questions about this notice, please contact your agent or broker.
|
10-02-1281 (Ed. 1/2003)
COLUMBIA ACORN TRUST
WANGER ADVISORS TRUST
Resolutions adopted by the
Board
of Trustees on September 18, 2013
WHEREAS, it is proposed, and the boards of trustees (the Board) of Columbia Acorn
Trust and Wanger Advisors Trust (each a Trust) deems it advisable, that the Trust be insured against loss arising from larceny or embezzlement under an Investment Company Blanket Fidelity Bond issued by the Chubb Group of Insurance
Companies insuring each Trust in the aggregate amount of $10 million per occurrence (the Bond);
WHEREAS, the Board has
considered the adequacy of the Bond with due consideration to all relevant factors, including: (i) the amount and type of coverage to be provided by the Bond, (ii) the value of the aggregate assets of each Trust to which any person covered
by the Bond may have access, (iii) the type and terms of the arrangements made by each Trust for the custody and safekeeping of its assets, (iv) the nature of the securities in each Trusts portfolio, (v) the method of conducting
each Trusts operations and (v) the accounting procedures and controls of each Trust; and
WHEREAS, the Board has considered the
allocation of premiums for the Bond to each Trust with due consideration to all relevant factors, including: (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 the Bond, (v) the ratable allocation of the premium among all parties named as insureds and (vi) the ratable allocation of the premium amount all parties named as
insureds, and (vii) the extent to which the share of the premium allocated to each Trust is less than the premium each Trust would have had to pay if it had provided and maintained a single insured Bond; so be it
RESOLVED, that (i) $10 million per occurrence, with $6.025 million of primary coverage allocated to Columbia Acorn Trust and with $2.1
million of primary coverage allocated to Wanger Advisors Trust, respectively, is determined to be a reasonable amount of fidelity bond coverage to be maintained by the Trust and (ii) the form of the Bond is determined to be reasonable, in each
case in accordance with Section 17(g) and Rule 17g-1 under the Investment Company Act of 1940 (the 1940 Act);
FURTHER RESOLVED, that the Bond is approved;
FURTHER RESOLVED, that the form of Fidelity Bond Allocation Agreement submitted to this meeting is approved and the appropriate officers of
the Trust are authorized to execute and deliver that agreement on behalf of the Trust, with such changes therein as the officer executing it considers appropriate; and
FURTHER RESOLVED, that the Treasurer of the Trust, with the assistance of counsel, is designated as the person to make the filings and to give
the notices required by
Rule 17g-1(g)
under the 1940 Act.
FIDELITY BOND ALLOCATION AGREEMENT
COLUMBIA ACORN TRUST,
a Massachusetts business trust registered under the Investment Company Act of 1940 as an open-end diversified
management investment company (Acorn),
WANGER ADVISORS TRUST,
a Massachusetts business trust registered under the Investment Company Act of 1940 as an open-end diversified management investment company (WAT) and
COLUMBIA WANGER ASSET MANAGEMENT, LLC,
a Delaware limited liability company and investment adviser to Acorn and WAT (CWAM) (each an Insured and collectively, the Insureds) agree:
1. Each Insured shall have primary (i.e., minimum assured) coverages under the fidelity bond under which they are insured as
identified on Schedule A to this agreement (the bond), in the amounts shown on Schedule A.
2. The bond premium shall be
divided among the Insureds in the proportions shown on Schedule A.
3. The bond is a claims made insurance policy. As used in
this Agreement, a policy year is the period beginning October 1 through the succeeding September 30. A party loss is the insured loss (including all related expenses) of a party (which includes the trustees, directors,
officers, and other insured employees and agents of a party) that relates to a claim made by that party under the bond relating to a particular policy year.
If only one Insured incurs a party loss in a policy year, the proceeds of the bond for that policy year are allocated to that Insured.
If more than one Insured incurs a party loss relating to a particular policy year, the proceeds of the bond for that policy year shall first
be allocated among the Insureds in proportion to their primary coverage as shown on Schedule A, and, if for the particular policy year, after initial allocation, there are remaining proceeds of the bond and there are then Insureds whose party losses
have not been paid in full, shall be further allocated to Insureds having excess losses in proportion to their primary coverage, with such allocation repeated until all such losses have been paid or coverage of the bond has been exhausted.
If all party losses relating to a particular policy year are not paid at the same time, the Insureds who claim party losses for that policy
year shall make such provisions as they deem suitable to the particular circumstances (taking into account the size of any payment received, the size, nature and expected result of any remaining claims, and all other relevant factors) to permit a
later reallocation of amounts first paid.
4. This agreement may be modified or amended from time to time by written agreement of all
Insureds or by not less than sixty days written notice by one Insured to each other Insured. Schedule A to this agreement may be revised from time to time by execution of a new Schedule A signed by each of the parties. This agreement shall terminate
as to any Insured as of the date that Insured ceases to be an assured under the bond; provided that such termination shall not affect the rights and obligations that have attached under this agreement to a terminating party to the time that the
termination becomes effective.
1
5. Each Insured agrees to promptly give to the insurer all notices required of it under the bond
and to send a copy of each such notice to each other Insured.
[Remainder of the page left blank]
2
Dated: October 1, 2013
|
|
|
|
|
|
|
|
|
COLUMBIA ACORN TRUST
|
|
|
|
WANGER ADVISORS TRUST
|
|
|
|
|
|
By:
|
|
/s/ Bruce H. Lauer
|
|
|
|
By:
|
|
/s/ Bruce H. Lauer
|
Its:
|
|
Vice President, Treasurer & Secretary
|
|
|
|
Its:
|
|
Vice President, Treasurer & Secretary
|
|
|
|
COLUMBIA WANGER ASSET
MANAGEMENT,
LLC
|
|
|
By:
|
|
/s/ Bruce H. Lauer
|
Its:
|
|
Chief Operating Officer
|
3
Schedule A
Schedule A
Bond:
|
Bond no. [82210832] issued by Chubb Group of Insurance Companies.
|
Limitation of
liability:
$10,000,000
|
|
|
|
|
Primary coverage allocable to each insured:
|
|
Acorn
|
|
$6,025,000
|
|
|
|
|
|
WAT
|
|
$2,100,000
|
|
|
|
|
|
CWAM
|
|
$1,875,000
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$10,000,000
|
|
|
|
|
|
|
|
|
Premium allocable to each insured:
|
|
Acorn
|
|
$21,087
|
|
|
|
|
|
WAT
|
|
$ 7,350
|
|
|
|
|
|
CWAM
|
|
$ 6,563
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$35,000
|
|
|
|
|
|
4
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