Exhibit 3.5.2
American Bar Association
Members/State Street
Collective Trust
Eighth Amended and Restated Fund
Declaration
Balanced Fund
Pursuant to Sections 3.03 and 7.01
of the Declaration of Trust, dated December 5, 1991, as amended as
of July 31, 1995 and as further amended as July 15, 2002 (the
“Declaration of Trust”), which authorizes State Street
Bank and Trust Company as trustee (“State Street” or
the “Trustee”) of the American Bar Association
Members/State Street Collective Trust (the “Collective
Trust”) to amend the Fund Declarations of the investment
funds established under the Collective Trust, effective as of July
1, 2004 State Street hereby amends and restates the Fund
Declaration dated June 1, 2004 of the Balanced Fund, an investment
fund established under the Collective Trust (the
“Fund”). The provisions of the Declaration of Trust are
incorporated herein by reference. In addition, the Trustee agrees
and declares that it will hold, administer and deal with all money
and property received or purchased by it as Trustee of the
Collective Trust on behalf of the Fund subject to the additional
terms and conditions set forth in this Fund Declaration.
Capitalized terms used and not otherwise defined shall have the
meanings set forth in the Declaration of Trust.
1. Investment Objective . The
investment objective of the Balanced Fund is to achieve both
current income and long-term capital appreciation. The Balanced
Fund will seek to achieve, over an extended period of time, total
returns comparable to or superior to an appropriate combination of
broad measures of the domestic stock and bond markets.
2. Investment Guidelines and
Restrictions . The assets of the Fund shall be invested and
reinvested primarily in (i) publicly traded common stocks and other
equity-type securities, and (ii) medium-to long-term debt
securities and money market instruments, provided that the Trustee
may invest all or any portion of the assets of the Fund in
accordance with Section 3.03(c) of the Declaration of Trust. It is
expected that (i) at least 40%, but not more than 70%, of the
assets of the Fund will be invested in common stocks and other
equity-type instruments, including convertible securities and, (ii)
at least 30%, but not more than 60%, of the assets of the Fund will
be invested in nonconvertible debt securities and money market
instruments. Securities of non-U.S. companies may be held by the
Fund directly or indirectly through American Depositary Receipts or
European Depositary Receipts.
All or any part of the investments
by the Fund may be made through other of the Program’s Funds
established under the Collective Trust (collectively, the
“Investment Funds”), so long as such Funds comply with
the investment guidelines and restrictions described
herein.
It is the intention of the Trustee
not to cause the Fund to invest in derivative securities, except to
the extent set forth in the Prospectus of the Collective Trust from
time to time in effect pursuant to which the Units of the Fund may
be issued. The Trustee, subject to consultation with ABRA, may in
the future review such investment policy.
The Fund will not:
(a) trade in foreign currency
(except transactions incidental to the settlement of purchases or
sales of securities for the Fund);
(b) make an investment in order to
exercise control or management over a company;
(c) make short sales, unless the
Fund has, by reason of ownership of other securities, the right to
obtain securities of a kind and amount equivalent to the securities
sold, which right will continue so long as the Fund is in a short
position;
(d) trade in commodities or
commodity contracts, except futures contracts (including options on
futures contracts) with respect to securities and securities
indices for hedging purposes or pursuant to the investment policy
regardi
