<SEC-DOCUMENT>0001398344-19-003231.txt : 20190516
<SEC-HEADER>0001398344-19-003231.hdr.sgml : 20190516
<ACCEPTANCE-DATETIME>20190222165840
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001398344-19-003231
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CORNERSTONE STRATEGIC VALUE FUND INC
		CENTRAL INDEX KEY:			0000814083
		IRS NUMBER:				133407699
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		225 PICTORIA DRIVE, SUITE 450
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45246
		BUSINESS PHONE:		(513) 587-3400

	MAIL ADDRESS:	
		STREET 1:		225 PICTORIA DRIVE, SUITE 450
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45246

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORNERSTONE STRATEGIC VALUE FUND INC/ NEW
		DATE OF NAME CHANGE:	20010503

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLEMENTE STRATEGIC VALUE FUND INC
		DATE OF NAME CHANGE:	19990622

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLEMENTE GLOBAL GROWTH FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 11pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="image_002.jpg" ALT=""></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 18%"><FONT STYLE="font-size: 11pt"><B><I>Phone:</I></B></FONT></TD>
    <TD STYLE="width: 82%"><FONT STYLE="font-size: 11pt"><B><I>(212) 885-5205</I></B></FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 11pt"><B><I>Fax:</I></B></FONT></TD>
    <TD><FONT STYLE="font-size: 11pt"><B><I>(212) 885-5001</I></B></FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 11pt"><B><I>Email:</I></B></FONT></TD>
    <TD><FONT STYLE="font-size: 11pt"><B><I><U>mmmurphy@blankrome.com</U></I></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">February 22, 2019</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B><U>FILED VIA EDGAR CORRESPONDENCE</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">100 F Street, NE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Washington, DC 20549-4720</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Attn: Valerie J. Lithotomos</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px"><FONT STYLE="font-size: 11pt">Re:</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">Cornerstone Strategic Value Fund, Inc.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Preliminary Proxy Statement on Schedule 14A filed on February
12, 2019<BR>
File No. 811-05150</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Dear Ms. Lithotomos:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On behalf of Cornerstone Strategic Value Fund,
Inc. (the &ldquo;Fund&rdquo;), this letter is in response to the comments relayed in a telephone conversation with the undersigned
on February 21, 2019 from the Staff of the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) regarding the
Fund&rsquo;s Preliminary Proxy Statement on Schedule 14A filed on February 12, 2019 (the &ldquo;Proxy Statement&rdquo;) under the
Securities Exchange Act of 1934 as amended (the &ldquo;Exchange Act&rdquo;). We have set forth below, in bold face type, the comment,
followed by the Fund&rsquo;s responses:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 24px"><FONT STYLE="font-size: 11pt">1.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Please clarify the affiliation between the Current Advisor and the New Advisor.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>RESPONSE:</B> The New Investment Advisor
is owned by Cornerstone Trust. Ralph W. Bradshaw is one of the trustees of Cornerstone Trust. The Current Advisor is owned by two
individuals, Ralph W. Bradshaw and Gary A. Bentz. It is anticipated that, subject to shareholder approval of the New Management
Agreement and upon completion of the Reorganization, the New Investment Advisor will employ the current portfolio managers and
all of the same personnel that the Current Advisor currently employs in its provision of investment advisory services to the Fund.
Upon completion of the Reorganization, Mr. Bentz is expected to become an independent contractor to the New Investment Advisor
providing non-investment advisory services.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 24px"><FONT STYLE="font-size: 11pt">2.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Please provide an update on the status of the Reorganization.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>RESPONSE: </B>Cornerstone Trust was established
on January 29, 2019. The New Investment Advisor was formed on January 30, 2019. The New Investment Advisor filed its Form ADV with
the Commission on February 20, 2019. It is anticipated that the New Investment Advisor&rsquo;s registration as an investment advisor
will be declared effective on or about April 6, 2019.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 24px"><FONT STYLE="font-size: 11pt">3.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Please add disclosure clarifying the reasons for the Reorganization.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>RESPONSE:</B> The Fund has added the following
disclosure to the Proxy Statement as a new third paragraph under the &ldquo;Introduction&rdquo; section of Proposal 2:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Mr. Bentz, one of the two owners of the Current Adviser, has indicated
that he is considering different options with respect to his future endeavors and, if the New Management Agreement is approved
by the Fund&rsquo;s stockholders and the Reorganization is completed, Mr. Bentz would prefer to provide non-advisory consulting
services on an as-needed basis to the New Investment Adviser and devote the bulk of his time to other ventures. The Reorganization
would allow for Mr. Bentz&rsquo;s transition to a non-advisory consulting role while also creating a new entity (the New Investment
Adviser) that can employ the same portfolio managers and other personnel that are currently employed by the Current Adviser in
connection with the investment advisory services it provides the Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">*********************</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">In accordance
with our telephone discussion yesterday morning, the disclosure provided in the response to Comment No. 3 above, and other revisions
which are non-material in nature, will be incorporated into the Company&rsquo;s definitive Proxy Statement which will be filed
today, February 22, 2019.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 11pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt"><I>/s/ Margaret Murphy</I></FONT><BR>
<FONT STYLE="font-size: 11pt">Margaret Murphy</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  > -D# 2(  A$! Q$!_\0
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MN8*H/Y_^/"O1&N84M&NC(OD"/S"_;;C.?RKR>^BDO/ >O>(KA2)=3NHR@/\
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KTY/9O>W;T.JHKF(_"VII*CMXIU)PI!*D#!]JZ>J39R580A;DES?)K\S_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
