Assertion: fund's director | /r/CapableOf | act on behalf of the fund
Facets:
value: in their capacities as fund directors
type: MANNER
Source sentences:
text: Joint arrangements require "some element of combination" between the fund and its affiliate.52The staff believes that, when a fund's directors are acting on behalf of the fund in their capacities as fund directors, the requisite element of "combination" is not present.