Advisory Agreement Assumption Letter – WMT Trust II Series E, Pru-Securities Strategic Trust I, and Diversified Futures Trust I
This agreement notifies Graham Capital Management, LP that Preferred Investment Solutions Corp. (formerly Kenmar Advisory Corp.) has acquired all shares of Prudential Securities Futures Management Inc., the managing owner of several trusts. As a result, Preferred Investment Solutions Corp. assumes all liabilities and obligations under the existing advisory agreements with the trusts and will continue to operate under the same terms. The agreement requires Graham Capital Management, LP to acknowledge and accept this change by signing the letter. The effective date of the change is anticipated to be October 1, 2004.
Exhibit 10.7
 | Two American Lane P.O. Box 5150 Greenwich, Connecticut 06831-8150
Joseph J. Allessie Senior Vice President General Counsel | Tel ###-###-#### Fax ###-###-#### |
September 14, 2004
Graham Capital Management, LP
Attn: General Counsel/Secretary
Rock Ledge Financial Center
40 Highland Avenue
Rowayton, CT 06853
Re: Advisory Agreements for World Monitor Trust II– Series E, Pru-Securities Strategic Trust, Diversified Futures Trust I
Please be advised that it is anticipated that as of October 1, 2004, all the issued and outstanding shares of capital stock of Prudential Securities Futures Management Inc. (the “Prudential Managing Owners”) of the above stated Trusts are owned by Preferred Investment Solutions Corp. f/k/a Kenmar Advisory Corp. (the “Kenmar Managing Owner”). Therefore, with respect to the various advisory agreements currently in effect by and between the Trusts, the Prudential Managing Owner and you, please be notified that the Kenmar Managing Owner has assumed the liabilities and obligations of the Prudential Managing Owner thereunder and will continue to satisfy and perform all liabilities and obligations thereunder.
The Kenmar Managing Owner will continue to operate per the existing advisory agreements. If this is acceptable, please sign both copies of this Letter Agreement and return one copy.
| PREFERRED INVESTMENT SOLUTIONS CORP. | ||
| By: | /s/ Joseph J. Allessie | |
| Name: | Joseph J. Allessie | |
| Title: | Senior Vice President, General Counsel | |
| ACCEPTED AND AGREED TO: | ||
| GRAHAM CAPITAL MANAGEMENT, LP. | ||
| By: | /s/ Paul Sedlack | |
| Name: | Paul Sedlack | |
| Title: | ||
