<DOCUMENT>
<TYPE>EX-99.77Q1
<SEQUENCE>2
<FILENAME>d64983_ex99-77q1.txt
<DESCRIPTION>ADDITIONAL INVESTMENT POLICIES
<TEXT>

                                                                 EXHIBIT 99.77Q1

Item 77Q1.

On February 18,  2005,  the Board of  Directors  of the  registrant  adopted the
following additional  investment policies governing the use of swap and swaption
transactions and credit derivatives:

Swap and Swaption  Transactions.  The Fund may utilize  interest rate and credit
swaps  and  swaptions,  subject  to the  following  restrictions:  (i) swaps and
swaptions must be U.S. dollar  denominated  and used for hedging  purposes only;
(ii) no more than 5% of the Fund's total assets, at the time of purchase, may be
invested in time premiums paid for  swaptions;  (iii) the terms of all swaps and
swaptions must conform to the standards of the ISDA Master  Agreement  published
by the  International  Swaps and  Derivatives  Association,  Inc.;  and (iv) the
counterparty  must be a bank or  broker-dealer  firm regulated under the laws of
the United States that is (A) on a list approved by the Board of Directors,  (B)
with capital of at least $100 million and (C) rated investment grade by both S&P
and Moody's.

Credit  Derivatives.  The  market  value of the  Fund's  investments  in  credit
derivatives  and/or premiums paid therefor as a buyer of credit  protection will
not exceed 10% of the Fund's total  assets and the notional  value of the credit
exposure to which the Fund is subject when it sells credit  derivatives will not
exceed 33 1/3% of the Fund's total assets.
</TEXT>
</DOCUMENT>
