<SEC-DOCUMENT>0001104659-21-096698.txt : 20210728
<SEC-HEADER>0001104659-21-096698.hdr.sgml : 20210728
<ACCEPTANCE-DATETIME>20210728093012
ACCESSION NUMBER:		0001104659-21-096698
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20210728
DATE AS OF CHANGE:		20210728
EFFECTIVENESS DATE:		20210728

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEKLA HEALTHCARE INVESTORS
		CENTRAL INDEX KEY:			0000805267
		IRS NUMBER:				046564285
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04889
		FILM NUMBER:		211120036

	BUSINESS ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6177728515

	MAIL ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	H&Q HEALTHCARE INVESTORS
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tekla Healthcare Opportunities Fund
		CENTRAL INDEX KEY:			0001604522
		IRS NUMBER:				465317248
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22955
		FILM NUMBER:		211120038

	BUSINESS ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-772-8500

	MAIL ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Tekla Healthcare Growth & Income Fund
		DATE OF NAME CHANGE:	20140402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tekla World Healthcare Fund
		CENTRAL INDEX KEY:			0001635977
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-23037
		FILM NUMBER:		211120037

	BUSINESS ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		(617) 772-8515

	MAIL ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEKLA LIFE SCIENCES INVESTORS
		CENTRAL INDEX KEY:			0000884121
		IRS NUMBER:				043147016
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06565
		FILM NUMBER:		211120039

	BUSINESS ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6177728515

	MAIL ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	H&Q LIFE SCIENCES INVESTORS
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>tm2123229d1_4017g.htm
<DESCRIPTION>40-17G
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>ICI MUTUAL INSURANCE
COMPANY,<BR>
</B></FONT><B><FONT STYLE="font-size: 16pt">a Risk Retention Group</FONT></B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">1401 H St. NW&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Washington, DC 20005</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INVESTMENT COMPANY BLANKET
BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; width: 34%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE><P STYLE="margin: 0pt"></P><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B>&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B>&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt">1401 H St. NW&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt">Washington, DC
20005</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DECLARATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This policy is issued by your risk retention group.
Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty
funds are not available for your risk retention group.</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 8%"><FONT STYLE="font-size: 11pt">ITEM
    1.</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 40%"><FONT STYLE="font-size: 11pt">Name
    of Insured (the &ldquo;Insured&rdquo;)</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 42%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%"><FONT STYLE="font-size: 11pt">Bond
    Number</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Tekla Capital Management LLC</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">03660121B</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Principal Office:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Mailing Address:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">100 Federal Street, 19th
    Floor</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">100 Federal
    Street, 19th Floor</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Boston, MA 02110</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Boston, MA
    02110</FONT></TD></TR>
</TABLE>
<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; text-indent: -0.375in; padding-left: 0.375in; width: 100%; padding-top: 2pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Item
    2. </B> &nbsp;Bond Period: from 12:01 a.m. on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; July 1, 2021&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
    to 12:01 a.m. on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 1, 2022&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, or the earlier effective
    date of the termination of this Bond, standard time at the Principal Office as to each of said dates.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; border-top: black 1pt solid; font-size: 10pt; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Item
    3.</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: black 1pt solid; font-size: 10pt; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Limit
    of Liability&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to Sections 9, 10 and 12 hereof:</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0pt 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: bottom">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 11%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIMIT OF<BR>
LIABILITY</B></P></TD>
    <TD STYLE="width: 11%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEDUCTIBLE<BR>
AMOUNT</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Insuring Agreement A-</TD>
    <TD>FIDELITY</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$25,000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Insuring Agreement B-</TD>
    <TD>AUDIT EXPENSE</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$50,000</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$5,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Insuring Agreement C-</TD>
    <TD STYLE="vertical-align: bottom">ON PREMISES</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right">$25,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Insuring Agreement D-</TD>
    <TD STYLE="vertical-align: bottom">IN TRANSIT</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right">$25,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Insuring Agreement E-</TD>
    <TD STYLE="vertical-align: bottom">FORGERY OR ALTERATION</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right">$25,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Insuring Agreement F-</TD>
    <TD STYLE="vertical-align: bottom">SECURITIES</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right">$25,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Insuring Agreement G-</TD>
    <TD STYLE="vertical-align: bottom">COUNTERFEIT CURRENCY</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right">$25,000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Insuring Agreement H-</TD>
    <TD>UNCOLLECTIBLE ITEMS OF DEPOSIT</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$25,000</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$5,000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Insuring Agreement I-</TD>
    <TD>PHONE/ELECTRONIC TRANSACTIONS</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">NA</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 4pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 4pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 4pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 4pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 4pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">If &ldquo;Not Covered&rdquo; is inserted opposite any Insuring Agreement above, such Insuring Agreement and any reference thereto shall be deemed to be deleted from this Bond.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Insuring Agreement J-</TD>
    <TD>COMPUTER SECURITY</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$4,300,000</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$25,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Insuring Agreement M-</TD>
    <TD>SOCIAL ENGINEERING FRAUD</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$1,000,000</TD>
    <TD STYLE="padding-right: 14pt; text-align: right">$25,000</TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-top: Black 0.5pt solid; width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; width: 8%"><B>Item 4.</B></TD><TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; text-align: justify; width: 92%">Offices or Premises Covered--All the Insured&rsquo;s offices or other premises in existence at the time
this Bond becomes effective are covered under this Bond, except the offices or other premises excluded by Rider. Offices or other premises
acquired or established after the effective date of this Bond are covered subject to the terms of General Agreement A.</TD></TR></TABLE>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-top: Black 0.5pt solid; width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="padding-top: 2pt; font-size: 10pt; width: 8%"><FONT STYLE="font-size: 11pt"><B>Item 5.</B></FONT></TD><TD STYLE="padding-top: 2pt; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">The
                                            liability of ICI Mutual Insurance Company, a Risk Retention Group (the &ldquo;Underwriter&rdquo;)
                                            is subject to the terms of the following Riders attached hereto:</FONT></TD></TR>                                                                                                                                                                                                                                                                                                                                                                              <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">Riders:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                       1-2-3-4-5-6-7</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">and
                                            of all Riders applicable to this Bond issued during the Bond Period.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 11pt; border-collapse: collapse; width: 100%">
<TR STYLE="font-size: 11pt; vertical-align: bottom">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; text-align: left; width: 44%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/S/
    Swenitha Nalli</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 6%">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; text-align: left; width: 44%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/S/
    Catherine Dalton</TD></TR>
<TR STYLE="font-size: 11pt; vertical-align: bottom">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized
    Representative</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized
    Representative</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 34%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>INVESTMENT COMPANY
BLANKET BOND</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt">NOTICE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt">This policy is
issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your
state. State insurance insolvency guaranty funds are not available for your risk retention group.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt">ICI Mutual Insurance
Company, a Risk Retention Group (the &ldquo;Underwriter&rdquo;), in consideration of an agreed premium, and in reliance upon the Application
and all other information furnished to the Underwriter by the Insured, and subject to and in accordance with the Declarations, General
Agreements, Provisions, Conditions and Limitations and other terms of this bond (including all riders hereto) (&ldquo;Bond&rdquo;), to
the extent of the Limit of Liability and subject to the Deductible Amount, agrees to indemnify the Insured for the loss, as described
in the Insuring Agreements, sustained by the Insured at any time but discovered during the Bond Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>INSURING AGREEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>A.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>FIDELITY</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
resulting directly from any Dishonest or Fraudulent Act committed by an Employee, committed anywhere and whether committed alone or in
collusion with other persons (whether or not Employees), during the time such Employee has the status of an Employee as defined herein,
and even if such loss is not discovered until after he or she ceases to be an Employee; and EXCLUDING loss covered under Insuring Agreement
B.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>B.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>AUDIT EXPENSE</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Expense
incurred by the Insured for that part of the costs of audits or examinations required by any governmental regulatory authority or Self-Regulatory
Organization to be conducted by such authority or Organization or by an independent accountant or other person, by reason of the discovery
of loss sustained by the Insured and covered by this Bond.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>C.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>ON PREMISES</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
of Property resulting directly from any Mysterious Disappearance, or any Dishonest or Fraudulent Act committed by a person physically
present in an office or on the premises of the Insured at the time the Property is surrendered, while the Property is (or reasonably
supposed or believed by the Insured to be) lodged or deposited within the Insured&rsquo;s offices or premises located anywhere, except
those offices excluded by Rider; and EXCLUDING loss covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>D.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>IN TRANSIT</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
of Property resulting directly from any Mysterious Disappearance or Dishonest or Fraudulent Act while the Property is physically (not
electronically) in transit anywhere in the custody of any person authorized by an Insured to act as a messenger, except while in the
mail or with a carrier for hire (other than a Security Company); and EXCLUDING loss covered under Insuring Agreement A. Property is &ldquo;in
transit&rdquo; beginning immediately upon receipt of such Property by the transporting person and ending immediately upon delivery to
the designated recipient or its agent, but only while the Property is being conveyed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>E.</B></FONT></TD><TD><FONT STYLE="font-size: 11pt"><B>FORGERY OR ALTERATION</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
resulting directly from the Insured having, in good faith, paid or transferred any Property in reliance upon any Written, Original:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">bills of
                                            exchange, checks, drafts, or other written orders or directions to pay sums certain in money,
                                            acceptances, certificates of deposit, due bills, money orders, warrants, orders upon public
                                            treasuries, or letters of credit; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">instructions,
                                            requests or applications directed to the Insured, authorizing or acknowledging the transfer,
                                            payment, redemption, delivery or receipt of money or Property, or giving notice of any bank
                                            account (provided such instructions or requests or applications purport to have been signed
                                            or endorsed by (a)&nbsp;any customer of the Insured, or (b)&nbsp;any shareholder of or subscriber
                                            to shares issued by any Investment Company, or (c)&nbsp;any financial or banking institution
                                            or stockbroker, and further provided such instructions, requests, or applications either
                                            bear the forged signature or endorsement or have been altered without the knowledge and consent
                                            of such customer, such shareholder or subscriber to shares issued by an Investment Company,
                                            or such financial or banking institution or stockbroker); or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">withdrawal
                                            orders or receipts for the withdrawal of Property, or receipts or certificates of deposit
                                            for Property and bearing the name of the Insured as issuer or of another Investment Company
                                            for which the Insured acts as agent;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">which
bear (a)&nbsp;a Forgery, or (b)&nbsp;an Alteration, but only to the extent that the Forgery or Alteration directly causes the loss.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Actual
physical possession by the Insured or its authorized representative of the items listed in (1)&nbsp;through (3)&nbsp;above is a condition
precedent to the Insured having relied upon the items.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Insuring Agreement E does not cover loss caused by Forgery or Alteration of Securities or loss covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>F.</B></FONT></TD><TD><FONT STYLE="font-size: 11pt"><B>SECURITIES</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
resulting directly from the Insured, in good faith, in the ordinary course of business, and in any capacity whatsoever, whether for its
own account or for the account of others, having acquired, accepted or received, or sold or delivered, or given any value, extended any
credit or assumed any liability in reliance on any Written, Original Securities, where such loss results from the fact that such Securities
prove to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">be Counterfeit,
                                            but only to the extent that the Counterfeit directly causes the loss, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">be lost
                                            or stolen, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">contain
                                            a Forgery or Alteration, but only to the extent the Forgery or Alteration directly causes
                                            the loss,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">and notwithstanding
whether or not the act of the Insured causing such loss violated the constitution, by-laws, rules, or regulations of any Self-Regulatory
Organization, whether or not the Insured was a member thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Insuring Agreement F does not cover loss covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Actual
physical possession by the Insured or its authorized representative of the Securities is a condition precedent to the Insured having
relied upon the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>G.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>COUNTERFEIT
                                            CURRENCY</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
resulting directly from the receipt by the Insured, in good faith of any Counterfeit Currency.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Insuring Agreement G does not cover loss covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>H.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>UNCOLLECTIBLE
                                            ITEMS OF DEPOSIT</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
resulting directly from the payment of dividends, issuance of Fund shares or redemptions or exchanges permitted from an account with
the Fund as a consequence of</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">uncollectible
                                            Items of Deposit of a Fund&rsquo;s customer, shareholder or subscriber credited by the Insured
                                            or its agent to such person&rsquo;s Fund account, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">any Item
                                            of Deposit processed through an automated clearing house which is reversed by a Fund&rsquo;s
                                            customer, shareholder or subscriber and is deemed uncollectible by the Insured;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">PROVIDED,
that (a)&nbsp;Items of Deposit shall not be deemed uncollectible until the Insured&rsquo;s collection procedures have failed, (b)&nbsp;exchanges
of shares between Funds with exchange privileges shall be covered hereunder only if all such Funds are insured by the Underwriter for
uncollectible Items of Deposit, and (c)&nbsp;the Insured Fund shall have implemented and maintained a policy to hold Items of Deposit
for the minimum number of days stated in its Application (as amended from time to time) before paying any dividend or permitting any
withdrawal with respect to such Items of Deposit (other than exchanges between Funds). Regardless of the number of transactions between
Funds in an exchange program, the minimum number of days an Item of Deposit must be held shall begin from the date the Item of Deposit
was first credited to any Insured Fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Insuring Agreement H does not cover loss covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>I.</B></FONT></TD><TD><FONT STYLE="font-size: 11pt"><B>PHONE/ELECTRONIC TRANSACTIONS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Loss
resulting directly from a Phone/Electronic Transaction, where the request for such Phone/Electronic Transaction:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">is transmitted
                                            to the Insured or its agents by voice over the telephone or by Electronic Transmission; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">is made
                                            by an individual purporting to be a Fund shareholder or subscriber or an authorized agent
                                            of a Fund shareholder or subscriber; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">is unauthorized
                                            or fraudulent and is made with the manifest intent to deceive;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">PROVIDED,
that the entity receiving such request generally maintains and follows during the Bond Period all Phone/Electronic Transaction Security
Procedures with respect to all Phone/Electronic Transactions; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt">EXCLUDING
loss resulting from:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the failure
                                            to pay for shares attempted to be purchased; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">any redemption
                                            of Investment Company shares which had been improperly credited to a shareholder&rsquo;s
                                            account where such shareholder (a)&nbsp;did not cause, directly or indirectly, such shares
                                            to be credited to such account, and (b)&nbsp;directly or indirectly received any proceeds
                                            or other benefit from such redemption; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">any redemption
                                            of shares issued by an Investment Company where the proceeds of such redemption were requested
                                            (i)&nbsp;to be paid or made payable to other than an Authorized Recipient or an Authorized
                                            Bank Account or (ii)&nbsp;to be sent to other than an Authorized Address;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the intentional
                                            failure to adhere to one or more Phone/Electronic Transaction Security Procedures; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">a Phone/Electronic
                                            Transaction request transmitted by electronic mail or transmitted by any method not subject
                                            to the Phone/Electronic Transaction Security Procedures; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the failure
                                            or circumvention of any physical or electronic protection device, including any firewall,
                                            that imposes restrictions on the flow of electronic traffic in or out of any Computer System.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Insuring Agreement I does not cover loss covered under Insuring Agreement A, &ldquo;Fidelity&rdquo; or Insuring Agreement J, &ldquo;Computer
Security&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>GENERAL AGREEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>A.</B></FONT></TD><TD><FONT STYLE="font-size: 11pt"><B>ADDITIONAL OFFICES OR EMPLOYEES&mdash;CONSOLIDATION OR MERGER&mdash;NOTICE</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Except as
                                            provided in paragraph 2 below, this Bond shall apply to any additional office(s)&nbsp;established
                                            by the Insured during the Bond Period and to all Employees during the Bond Period, without
                                            the need to give notice thereof or pay additional premiums to the Underwriter for the Bond
                                            Period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">If during
                                            the Bond Period an Insured Investment Company shall merge or consolidate with an institution
                                            in which such Insured is the surviving entity, or purchase substantially all the assets or
                                            capital stock of another institution, or acquire or create a separate investment portfolio,
                                            and shall within sixty (60) days notify the Underwriter thereof, then this Bond shall automatically
                                            apply to the Property and Employees resulting from such merger, consolidation, acquisition
                                            or creation from the date thereof; provided, that the Underwriter may make such coverage
                                            contingent upon the payment of an additional premium.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>B.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>WARRANTY</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">No statement
made by or on behalf of the Insured, whether contained in the Application or otherwise, shall be deemed to be an absolute warranty, but
only a warranty that such statement is true to the best of the knowledge of the person responsible for such statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>C.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>COURT COSTS
                                            AND ATTORNEYS&rsquo; FEES</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Underwriter
will indemnify the Insured against court costs and reasonable attorneys&rsquo; fees incurred and paid by the Insured in defense of any
legal proceeding brought against the Insured seeking recovery for any loss which, if established against the Insured, would constitute
a loss covered under the terms of this Bond; provided, however, that with respect to Insuring Agreement A this indemnity shall apply
only in the event that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">an Employee
                                            admits to having committed or is adjudicated to have committed a Dishonest or Fraudulent
                                            Act which caused the loss; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">in the absence
                                            of such an admission or adjudication, an arbitrator or arbitrators acceptable to the Insured
                                            and the Underwriter concludes, after a review of an agreed statement of facts, that an Employee
                                            has committed a Dishonest or Fraudulent Act which caused the loss.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Insured
shall promptly give notice to the Underwriter of any such legal proceeding and upon request shall furnish the Underwriter with copies
of all pleadings and other papers therein. At the Underwriter&rsquo;s election the Insured shall permit the Underwriter to conduct the
defense of such legal proceeding in the Insured&rsquo;s name, through attorneys of the Underwriter&rsquo;s selection. In such event,
the Insured shall give all reasonable information and assistance which the Underwriter shall deem necessary to the proper defense of
such legal proceeding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">If the
amount of the Insured&rsquo;s liability or alleged liability in any such legal proceeding is greater than the amount which the Insured
would be entitled to recover under this Bond (other than pursuant to this General Agreement C), or if a Deductible Amount is applicable,
or both, the indemnity liability of the Underwriter under this General Agreement C is limited to the proportion of court costs and attorneys&rsquo;
fees incurred and paid by the Insured or by the Underwriter that the amount which the Insured would be entitled to recover under this
Bond (other than pursuant to this General Agreement C) bears to the sum of such amount plus the amount which the Insured is not entitled
to recover. Such indemnity shall be in addition to the Limit of Liability for the applicable Insuring Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 11pt"><B>D.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>INTERPRETATION</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond shall be interpreted with due regard to the purpose of fidelity bonding under Rule&nbsp;17g-1 under the Investment Company Act of
1940 (i.e., to protect innocent third parties from harm) and to the structure of the investment management industry (in which a loss
of Property resulting from a cause described in any Insuring Agreement ordinarily gives rise to a potential legal liability on the part
of the Insured), such that the term &ldquo;loss&rdquo; as used herein shall include an Insured&rsquo;s legal liability for direct compensatory
damages resulting directly from a misappropriation, or measurable diminution in value, of Property.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>THIS BOND,&nbsp;INCLUDING
THE FOREGOING INSURING AGREEMENTS<BR>
AND GENERAL AGREEMENTS,&nbsp;IS SUBJECT TO THE FOLLOWING<BR>
PROVISIONS, CONDITIONS AND LIMITATIONS:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;1.
DEFINITIONS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">The
following terms used in this Bond shall have the meanings stated in this Section:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>A.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Alteration&rdquo;</B>
                                       means the marking, changing or altering in a material way of the terms, meaning or legal effect
                                       of a document with the intent to deceive.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>B.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Application&rdquo;</B>
                                       means the Insured&rsquo;s application (and any attachments and materials submitted in connection
                                       therewith) furnished to the Underwriter for this Bond.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>C.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Authorized Address&rdquo;
                                       </B>means (1)&nbsp;any Officially Designated address to which redemption proceeds may be sent,
                                       (2)&nbsp;any address designated in writing (not to include Electronic Transmission) by the Shareholder
                                       of Record and received by the Insured at least one (1)&nbsp;day prior to the effective date of
                                       such designation, or (3)&nbsp;any address designated by voice over the telephone or by Electronic
                                       Transmission by the Shareholder of Record at least 15 days prior to the effective date of such
                                       designation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>D.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Authorized Bank Account&rdquo;
                                       </B>means any Officially Designated bank account to which redemption proceeds may be sent.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>E.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Authorized Recipient&rdquo;
                                       </B>means (1)&nbsp;the Shareholder of Record, or (2)&nbsp;any other Officially Designated person
                                       to whom redemption proceeds may be sent.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>F.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Computer System&rdquo;
                                       </B>means (1)&nbsp;computers with related peripheral components, including storage components,
                                       (2)&nbsp;systems and applications software, (3)&nbsp;terminal devices, (4)&nbsp;related communications
                                       networks or customer communication systems, and (5)&nbsp;related electronic funds transfer systems;
                                       by which data or monies are electronically collected, transmitted, processed, stored or retrieved.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>G.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Counterfeit&rdquo;</B>
                                       means a Written imitation of an actual valid Original which is intended to deceive and to be taken
                                       as the Original.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>H.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Cryptocurrency&rdquo;
                                       </B>means a digital or electronic medium of exchange, operating independently of a central bank,
                                       in which encryption techniques are used to regulate generation of units and to verify transfer
                                       of units from one person to another.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>I.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Currency&rdquo;</B> means
                                       a medium of exchange in current use authorized or adopted by a domestic or foreign government
                                       as part of its official currency.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>J.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Deductible Amount&rdquo;
                                       </B>means, with respect to any Insuring Agreement, the amount set forth under the heading &ldquo;Deductible
                                       Amount&rdquo; in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable
                                       to each Single Loss covered by such Insuring Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>K.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Depository&rdquo;</B>
                                       means any &ldquo;securities depository&rdquo; (other than any foreign securities depository) in
                                       which an Investment Company may deposit its Securities in accordance with Rule&nbsp;17f-4 under
                                       the Investment Company Act of 1940.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>L.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Dishonest or Fraudulent
                                       Act&rdquo;</B> means any dishonest or fraudulent act, including &ldquo;larceny and embezzlement&rdquo;
                                       as defined in Section&nbsp;37 of the Investment Company Act of 1940, committed with the conscious
                                       manifest intent (1)&nbsp;to cause the Insured to sustain a loss and (2)&nbsp;to obtain an improper
                                       financial benefit for the perpetrator or any other person or entity. A Dishonest or Fraudulent
                                       Act does not mean or include a reckless act, a negligent act, or a grossly negligent act. As used
                                       in this definition, &ldquo;improper financial benefit&rdquo; does not include any employee benefits
                                       received in the course of employment, including salaries, commissions, fees, bonuses, promotions,
                                       awards, profit sharing or pensions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>M.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Electronic Transmission&rdquo;
                                       </B>means any transmission effected by electronic means, including but not limited to a transmission
                                       effected by telephone tones, Telefacsimile, wireless device, or over the Internet.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>N.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Employee&rdquo;</B> means:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each officer,
                                            director, trustee, partner or employee of the Insured, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each officer,
                                            director, trustee, partner or employee of any predecessor of the Insured whose principal
                                            assets are acquired by the Insured by consolidation or merger with, or purchase of assets
                                            or capital stock of, such predecessor, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each attorney
                                            performing legal services for the Insured and each employee of such attorney or of the law
                                            firm of such attorney while performing services for the Insured, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each student
                                            who is an authorized intern of the Insured, while in any of the Insured&rsquo;s offices,
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each officer,
                                            director, trustee, partner or employee of</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">an investment
                                            adviser,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">an underwriter
                                            (distributor),</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">a transfer
                                            agent or shareholder accounting recordkeeper, or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">an administrator
                                            authorized by written agreement to keep financial and/or other required records,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-size: 11pt">for
an Investment Company named as an Insured, BUT ONLY while (i)&nbsp;such officer, partner or employee is performing acts coming within
the scope of the usual duties of an officer or employee of an Insured, or (ii)&nbsp;such officer, director, trustee, partner or employee
is acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to the Property of
the Insured, or (iii)&nbsp;such director or trustee (or anyone acting in a similar capacity) is acting outside the scope of the usual
duties of a director or trustee; PROVIDED, that the term &ldquo;Employee&rdquo; shall not include any officer, director, trustee, partner
or employee of a transfer agent, shareholder accounting recordkeeper or administrator (x)&nbsp;which is not an &ldquo;affiliated person&rdquo;
(as defined in Section&nbsp;2(a)&nbsp;of the Investment Company Act of 1940) of an Investment Company named as an Insured or of the adviser
or underwriter of such Investment Company, or (y)&nbsp;which is a &ldquo;Bank&rdquo; (as defined in Section&nbsp;2(a)&nbsp;of the Investment
Company Act of 1940), and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each individual
                                            assigned, by contract or by any agency furnishing temporary personnel, in either case on
                                            a contingent or part-time basis, to perform the usual duties of an employee in any office
                                            of the Insured, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(7)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each individual
                                            assigned to perform the usual duties of an employee or officer of any entity authorized by
                                            written agreement with the Insured to perform services as electronic data processor of checks
                                            or other accounting records of the Insured, but excluding a processor which acts as transfer
                                            agent or in any other agency capacity for the Insured in issuing checks, drafts or securities,
                                            unless included under subsection (5)&nbsp;hereof, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(8)</FONT></TD><TD><FONT STYLE="font-size: 11pt">each officer, partner or employee of</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(a)</FONT></TD><TD><FONT STYLE="font-size: 11pt">any Depository or Exchange,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">any nominee
                                            in whose name is registered any Security included in the systems for the central handling
                                            of securities established and maintained by any Depository, and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">any recognized
                                            service company which provides clerks or other personnel to any Depository or Exchange on
                                            a contract basis,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><FONT STYLE="font-size: 11pt">while such officer, partner
or employee is performing services for any Depository in the operation of systems for the central handling of securities, and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(9)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">in the
                                            case of an Insured which is an &ldquo;employee benefit plan&rdquo; (as defined in Section&nbsp;3
                                            of the Employee Retirement Income Security Act of 1974 (&ldquo;ERISA&rdquo;)) for officers,
                                            directors or employees of another Insured (&ldquo;In-House Plan&rdquo;), any &ldquo;fiduciary&rdquo;
                                            or other &ldquo;plan official&rdquo; (within the meaning of Section&nbsp;412 of ERISA) of
                                            such In-House Plan, provided that such fiduciary or other plan official is a director, partner,
                                            officer, trustee or employee of an Insured (other than an In-House Plan).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Each
employer of temporary personnel and each entity referred to in subsections (6)&nbsp;and (7)&nbsp;and their respective partners, officers
and employees shall collectively be deemed to be one person for all the purposes of this Bond.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Brokers,
agents, independent contractors, or representatives of the same general character shall not be considered Employees, except as provided
in subsections (3), (6), and (7).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>O.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Exchange&rdquo;</B> means
                                       any national securities exchange registered under the Securities Exchange Act of 1934.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>P.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Forgery&rdquo;</B> means
                                       the physical signing on a document of the name of another person with the intent to deceive. A
                                       Forgery may be by means of mechanically reproduced facsimile signatures as well as handwritten
                                       signatures. Forgery does not include the signing of an individual&rsquo;s own name, regardless
                                       of such individual&rsquo;s authority, capacity or purpose.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>Q.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Items of Deposit&rdquo;
                                       </B>means one or more checks or drafts.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>R.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Investment Company&rdquo;
                                       </B>or <B>&ldquo;Fund&rdquo;</B> means an investment company registered under the Investment Company
                                       Act of 1940.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>S.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Limit of Liability&rdquo;
                                       </B>means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for
                                       any Single Loss covered by such Insuring Agreement as set forth under the heading &ldquo;Limit
                                       of Liability&rdquo; in Item 3 of the Declarations or in any Rider for such Insuring Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>T.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Mysterious Disappearance&rdquo;
                                       </B>means any disappearance of Property which, after a reasonable investigation has been conducted,
                                       cannot be explained.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>U.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Non-Fund&rdquo;</B> means
                                       any corporation, business trust, partnership, trust or other entity which is not an Investment
                                       Company.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>V.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Officially Designated&rdquo;
                                       </B>means designated by the Shareholder of Record:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">in the
                                            initial account application,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">in writing
                                            accompanied by a signature guarantee, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">in writing
                                            or by Electronic Transmission, where such designation is verified via a callback to the Shareholder
                                            of Record by the Insured at a predetermined telephone number provided by the Shareholder
                                            of Record to the Insured in writing at least 30 days prior to such callback.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>W.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Original&rdquo;</B> means
                                       the first rendering or archetype and does not include photocopies or electronic transmissions
                                       even if received and printed.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>X.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Phone/Electronic Transaction&rdquo;
                                       </B>means any (1)&nbsp;redemption of shares issued by an Investment Company, (2)&nbsp;election
                                       concerning dividend options available to Fund shareholders, (3)&nbsp;exchange of shares in a registered
                                       account of one Fund into shares in an identically registered account of another Fund in the same
                                       complex pursuant to exchange privileges of the two Funds, or (4)&nbsp;purchase of shares issued
                                       by an Investment Company, which redemption, election, exchange or purchase is requested by voice
                                       over the telephone or through an Electronic Transmission.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>Y.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Phone/Electronic Transaction
                                       Security Procedures&rdquo;</B> means security procedures for Phone/Electronic Transactions as
                                       set forth in the Application and/or as otherwise provided in writing to the Underwriter.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>Z.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Property&rdquo;</B> means
                                       the following tangible items: money, postage and revenue stamps, precious metals, Securities,
                                       bills of exchange, acceptances, checks, drafts, or other written orders or directions to pay sums
                                       certain in money, certificates of deposit, due bills, money orders, letters of credit, financial
                                       futures contracts, conditional sales contracts, abstracts of title, insurance policies, deeds,
                                       mortgages, and assignments of any of the foregoing, and other valuable papers, including books
                                       of account and other records used by the Insured in the conduct of its business, and all other
                                       instruments similar to or in the nature of the foregoing (but excluding all data processing records),
                                       (1)&nbsp;in which the Insured has a legally cognizable interest, (2)&nbsp;in which the Insured
                                       acquired or should have acquired such an interest by reason of a predecessor&rsquo;s declared
                                       financial condition at the time of the Insured&rsquo;s consolidation or merger with, or purchase
                                       of the principal assets of, such predecessor or (3)&nbsp;which are held by the Insured for any
                                       purpose or in any capacity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>AA.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Securities&rdquo;</B>
                                        means original negotiable or non-negotiable agreements or instruments which represent an equitable
                                        or legal interest, ownership or debt (including stock certificates, bonds, promissory notes,
                                        and assignments thereof), which are in the ordinary course of business transferable by physical
                                        delivery with appropriate endorsement or assignment. &ldquo;Securities&rdquo; does not include
                                        bills of exchange, acceptances, certificates of deposit, checks, drafts, or other written orders
                                        or directions to pay sums certain in money, due bills, money orders, or letters of credit.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>BB.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Security Company&rdquo;
                                        </B>means an entity which provides or purports to provide the transport of Property by secure
                                        means, including, without limitation, by use of armored vehicles or guards.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>CC.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Self-Regulatory Organization&rdquo;
                                        </B>means any association of investment advisers or securities dealers registered under the federal
                                        securities laws, or any Exchange.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>DD.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Shareholder of Record&rdquo;
                                        </B>means the record owner of shares issued by an Investment Company or, in the case of joint
                                        ownership of such shares, all record owners, as designated (1)&nbsp;in the initial account application,
                                        or (2)&nbsp;in writing accompanied by a signature guarantee, or (3)&nbsp;pursuant to procedures
                                        as set forth in the Application and/or as otherwise provided in writing to the Underwriter.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>EE.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Single Loss&rdquo;</B>
                                        means:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">all loss
                                            caused by any one act (other than a Dishonest or Fraudulent Act) committed by one person,
                                            or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">all loss
                                            caused by Dishonest or Fraudulent Acts committed by one person, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">all expenses
                                            incurred with respect to any one audit or examination, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">all loss
                                            caused by any one occurrence or event other than those specified in subsections (1)&nbsp;through
                                            (3)&nbsp;above.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">All acts
or omissions of one or more persons which directly or indirectly aid or, by failure to report or otherwise, permit the continuation of
an act referred to in subsections (1)&nbsp;and (2)&nbsp;above of any other person shall be deemed to be the acts of such other person
for purposes of this subsection.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">All acts
or occurrences or events which have as a common nexus any fact, circumstance, situation, transaction or series of facts, circumstances,
situations, or transactions shall be deemed to be one act, one occurrence, or one event.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>FF.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Telefacsimile&rdquo;
                                        </B>means a system of transmitting and reproducing fixed graphic material (as, for example, printing)
                                        by means of signals transmitted over telephone lines or over the Internet.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><B>GG.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Written&rdquo;</B> means
                                        expressed through letters or marks placed upon paper and visible to the eye.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;2.
EXCLUSIONS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt">THIS BOND DOES
NOT COVER:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from (1)&nbsp;riot or civil
                                commotion outside the United States of America and Canada, or (2)&nbsp;war, revolution, insurrection,
                                action by armed forces, or usurped power, wherever occurring; except if such loss occurs while the Property
                                is in transit, is otherwise covered under Insuring Agreement D, and when such transit was initiated,
                                the Insured or any person initiating such transit on the Insured&rsquo;s behalf had no knowledge of such
                                riot, civil commotion, war, revolution, insurrection, action by armed forces, or usurped power.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss in time of peace or war resulting
                                from nuclear fission or fusion or radioactivity, or biological or chemical agents or hazards, or fire,
                                smoke, or explosion, or the effects of any of the foregoing.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from any Dishonest or Fraudulent
                                Act committed by any person while acting in the capacity of a member of the Board of Directors or any
                                equivalent body of the Insured or of any other entity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">D.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from any nonpayment or other
                                default of any loan or similar transaction made by the Insured or any of its partners, directors, officers
                                or employees, whether or not authorized and whether procured in good faith or through a Dishonest or
                                Fraudulent Act, unless such loss is otherwise covered under Insuring Agreement A, E, or F.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">E.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from any violation by the
                                Insured or by any Employee of any law, or any rule&nbsp;or regulation pursuant thereto or adopted by
                                a Self-Regulatory Organization, regulating the issuance, purchase or sale of securities, securities transactions
                                upon security exchanges or over the counter markets,&nbsp;Investment Companies, or investment advisers,
                                unless such loss, in the absence of such law, rule&nbsp;or regulation, would be covered under Insuring
                                Agreement A, E, or F.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">F.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from Property that is the
                                object of a Dishonest or Fraudulent Act or Mysterious Disappearance while in the custody of any Security
                                Company, unless such loss is covered under this Bond and is in excess of the amount recovered or received
                                by the Insured under (1)&nbsp;the Insured&rsquo;s contract with such Security Company, and (2)&nbsp;insurance
                                or indemnity of any kind carried by such Security Company for the benefit of, or otherwise available
                                to, users of its service, in which case this Bond shall cover only such excess, subject to the applicable
                                Limit of Liability and Deductible Amount.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">G.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Potential income, including but not limited
                                to interest and dividends, not realized by the Insured because of a loss covered under this Bond, except
                                when covered under Insuring Agreement H.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">H.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss in the form of (1)&nbsp;damages of
                                any type for which the Insured is legally liable, except direct compensatory damages, or (2)&nbsp;taxes,
                                fines, or penalties, including without limitation two-thirds of treble damage awards pursuant to judgments
                                under any statute or regulation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">I.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from the surrender of Property
                                away from an office of the Insured as a result of kidnap, ransom, or extortion, or a threat</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">to do bodily
                                            harm to any person, except where the Property is in transit in the custody of any person
                                            acting as messenger as a result of a threat to do bodily harm to such person, if the Insured
                                            had no knowledge of such threat at the time such transit was initiated, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">to do damage
                                            to the premises or Property of the Insured,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">unless
such loss is otherwise covered under Insuring Agreement A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">J.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">All costs, fees, and other expenses incurred
                                by the Insured in establishing the existence of or amount of loss covered under this Bond, except to
                                the extent certain audit expenses are covered under Insuring Agreement B.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">K.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from payments made to or
                                withdrawals from any account, involving funds erroneously credited to such account, unless such loss
                                is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">L.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from uncollectible Items
                                of Deposit which are drawn upon a financial institution outside the United States of America, its territories
                                and possessions, or Canada.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">M.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from the Dishonest or Fraudulent
                                Acts or other acts or omissions of an Employee primarily engaged in the sale of shares issued by an Investment
                                Company to persons other than (1)&nbsp;a person registered as a broker under the Securities Exchange
                                Act of 1934 or (2)&nbsp;an &ldquo;accredited investor&rdquo; as defined in Rule&nbsp;501(a)&nbsp;of Regulation
                                D under the Securities Act of 1933, which is not an individual.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">N.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from the use of credit,
                                debit, charge, access, convenience, identification, cash management or other cards, whether such cards
                                were issued or purport to have been issued by the Insured or by anyone else, unless such loss is otherwise
                                covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">O.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from any purchase, redemption
                                or exchange of securities issued by an Investment Company or other Insured, or any other instruction,
                                request, acknowledgement, notice or transaction involving securities issued by an Investment Company
                                or other Insured or the dividends in respect thereof, when any of the foregoing is requested, authorized
                                or directed or purported to be requested, authorized or directed by voice over the telephone or by Electronic
                                Transmission, unless such loss is otherwise covered under Insuring Agreement A or Insuring Agreement
                                I.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">P.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from any Dishonest or Fraudulent
                                Act or committed by an Employee as defined in Section&nbsp;1.N(2), unless such loss (1)&nbsp;could not
                                have been reasonably discovered by the due diligence of the Insured at or prior to the time of acquisition
                                by the Insured of the assets acquired from a predecessor, and (2)&nbsp;arose out of a lawsuit or valid
                                claim brought against the Insured by a person unaffiliated with the Insured or with any person affiliated
                                with the Insured.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">Q.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from the unauthorized entry
                                of data into, or the deletion or destruction of data in, or the change of data elements or programs within,
                                any Computer System, unless such loss is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">R.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from the theft, disappearance,
                                destruction, disclosure, or unauthorized use of confidential or personal information (including, but
                                not limited to, trade secrets, personal shareholder or client information, shareholder or client lists,
                                personally identifiable financial or medical information, intellectual property, or any other type of
                                non-public information), whether such information is owned by the Insured or held by the Insured in any
                                capacity (including concurrently with another person); provided, however, this exclusion shall not apply
                                to loss arising out of the use of such information to support or facilitate the commission of an act
                                otherwise covered by this Bond.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">S.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">All costs, fees, and other expenses arising
                                from a data security breach or incident, including, but not limited to, forensic audit expenses, fines,
                                penalties, expenses to comply with federal and state laws and expenses related to notifying affected
                                individuals.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">T.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from vandalism or malicious
                                mischief.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">U.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss resulting from the theft, disappearance,
                                or destruction of Cryptocurrency or from the change in value of Cryptocurrency, unless such loss (1)&nbsp;is
                                sustained by any investment company registered under the Investment Company Act of 1940 that is named
                                as an Insured and (2)&nbsp;is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;3.
ASSIGNMENT OF RIGHTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Upon
payment to the Insured hereunder for any loss, the Underwriter shall be subrogated to the extent of such payment to all of the Insured&rsquo;s
rights and claims in connection with such loss; provided, however, that the Underwriter shall not be subrogated to any such rights or
claims one named Insured under this Bond may have against another named Insured under this Bond. At the request of the Underwriter, the
Insured shall execute all assignments or other documents and take such action as the Underwriter may deem necessary or desirable to secure
and perfect such rights and claims, including the execution of documents necessary to enable the Underwriter to bring suit in the name
of the Insured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Assignment
of any rights or claims under this Bond shall not bind the Underwriter without the Underwriter&rsquo;s written consent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;4.
LOSS</B>&mdash;<B>NOTICE</B>&mdash;<B>PROOF</B>&mdash;<B>LEGAL PROCEEDINGS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond is for the use and benefit only of the Insured and the Underwriter shall not be liable hereunder to anyone other than the Insured.
As soon as practicable and not more than sixty (60) days after discovery of any loss covered hereunder, the Insured shall give the Underwriter
written notice thereof and, as soon as practicable and within one year after such discovery, shall also furnish to the Underwriter affirmative
proof of loss with full particulars. The Underwriter may extend the sixty-day notice period or the one-year proof of loss period if the
Insured requests an extension and shows good cause therefor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Insured
shall provide the Underwriter with such information, assistance, and cooperation as the Underwriter may reasonably request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">See also
General Agreement C (Court Costs and Attorneys&rsquo; Fees).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Underwriter
shall not be liable hereunder for loss of Securities unless each of the Securities is identified in such proof of loss by a certificate
or bond number or by such identification means as the Underwriter may require. The Underwriter shall have a reasonable period after receipt
of a proper affirmative proof of loss within which to investigate the claim, but where the Property is Securities and the loss is clear
and undisputed, settlement shall be made within forty-eight (48) hours even if the loss involves Securities of which duplicates may be
obtained.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Insured
shall not bring legal proceedings against the Underwriter to recover any loss hereunder prior to sixty (60) days after filing such proof
of loss or subsequent to twenty-four (24) months after the discovery of such loss or, in the case of a legal proceeding to recover hereunder
on account of any judgment against the Insured in or settlement of any suit mentioned in General Agreement C or to recover court costs
or attorneys&rsquo; fees paid in any such suit, twenty-four (24) months after the date of the final judgment in or settlement of such
suit. If any limitation in this Bond is prohibited by any applicable law, such limitation shall be deemed to be amended to be equal to
the minimum period of limitation permitted by such law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Notice
hereunder shall be given to Manager, Professional Liability Claims,&nbsp;ICI Mutual Insurance Company, RRG, 1401 H St. NW, Washington,
DC 20005, with an electronic copy to LegalSupport@icimutual.com.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;5.
DISCOVERY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">For all
purposes under this Bond, a loss is discovered, and discovery of a loss occurs, when the Insured</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">becomes
                                            aware of facts, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">receives
                                            notice of an actual or potential claim by a third party which alleges that the Insured is
                                            liable under circumstances,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">which
would cause a reasonable person to assume that a loss of a type covered by this Bond has been or is likely to be incurred, regardless
of when the act or acts causing or contributing to such loss occurred, even though the exact amount or details of the loss may not be
known.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;6.
VALUATION OF PROPERTY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">For the
purpose of determining the amount of any loss hereunder, the value of any Property shall be the market value of such Property at the
close of business on the first business day before the discovery of such loss; except that</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the value
                                            of any Property replaced by the Insured prior to the payment of a claim therefor shall be
                                            the actual market value of such Property at the time of replacement, but not in excess of
                                            the market value of such Property on the first business day before the discovery of the loss
                                            of such Property;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the value
                                            of Securities which must be produced to exercise subscription, conversion, redemption or
                                            deposit privileges shall be the market value of such privileges immediately preceding the
                                            expiration thereof if the loss of such Securities is not discovered until after such expiration,
                                            but if there is no quoted or other ascertainable market price for such Property or privileges
                                            referred to in clauses (1)&nbsp;and (2), their value shall be fixed by agreement between
                                            the parties or by arbitration before an arbitrator or arbitrators acceptable to the parties;
                                            and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the value
                                            of books of accounts or other records used by the Insured in the conduct of its business
                                            shall be limited to the actual cost of blank books, blank pages&nbsp;or other materials if
                                            the books or records are reproduced plus the cost of labor for the transcription or copying
                                            of data furnished by the Insured for reproduction.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;7.
LOST SECURITIES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The maximum
liability of the Underwriter hereunder for lost Securities shall be the payment for, or replacement of, such Securities having an aggregate
value not to exceed the applicable Limit of Liability. If the Underwriter shall make payment to the Insured for any loss of Securities,
the Insured shall assign to the Underwriter all of the Insured&rsquo;s right, title and interest in and to such Securities. In lieu of
such payment, the Underwriter may, at its option, replace such lost Securities, and in such case the Insured shall cooperate to effect
such replacement. To effect the replacement of lost Securities, the Underwriter may issue or arrange for the issuance of a lost instrument
bond. If the value of such Securities does not exceed the applicable Deductible Amount (at the time of the discovery of the loss), the
Insured will pay the usual premium charged for the lost instrument bond and will indemnify the issuer of such bond against all loss and
expense that it may sustain because of the issuance of such bond.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">If the
value of such Securities exceeds the applicable Deductible Amount (at the time of discovery of the loss), the Insured will pay a proportion
of the usual premium charged for the lost instrument bond, equal to the percentage that the applicable Deductible Amount bears to the
value of such Securities upon discovery of the loss, and will indemnify the issuer of such bond against all loss and expense that is
not recovered from the Underwriter under the terms and conditions of this Bond, subject to the applicable Limit of Liability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><B>SECTION&nbsp;8.
SALVAGE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">If any
recovery is made, whether by the Insured or the Underwriter, on account of any loss within the applicable Limit of Liability hereunder,
the Underwriter shall be entitled to the full amount of such recovery to reimburse the Underwriter for all amounts paid hereunder with
respect to such loss. If any recovery is made, whether by the Insured or the Underwriter, on account of any loss in excess of the applicable
Limit of Liability hereunder plus the Deductible Amount applicable to such loss from any source other than suretyship, insurance, reinsurance,
security or indemnity taken by or for the benefit of the Underwriter, the amount of such recovery, net of the actual costs and expenses
of recovery, shall</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">be applied
to reimburse the Insured in full for the portion of such loss in excess of such Limit of Liability, and the remainder, if any, shall
be paid first to reimburse the Underwriter for all amounts paid hereunder with respect to such loss and then to the Insured to the extent
of the portion of such loss within the Deductible Amount. The Insured shall execute all documents which the Underwriter deems necessary
or desirable to secure to the Underwriter the rights provided for herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 9.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>NON-REDUCTION
                                            AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Prior
to its termination, this Bond shall continue in force up to the Limit of Liability for each Insuring Agreement for each Single Loss,
notwithstanding any previous loss (other than such Single Loss) for which the Underwriter may have paid or be liable to pay hereunder;
PROVIDED, however, that regardless of the number of years this Bond shall continue in force and the number of premiums which shall be
payable or paid, the liability of the Underwriter under this Bond with respect to any Single Loss shall be limited to the applicable
Limit of Liability irrespective of the total amount of such Single Loss and shall not be cumulative in amounts from year to year or from
period to period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 10.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>MAXIMUM
                                            LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The maximum
liability of the Underwriter for any Single Loss covered by any Insuring Agreement under this Bond shall be the Limit of Liability applicable
to such Insuring Agreement, subject to the applicable Deductible Amount and the other provisions of this Bond. Recovery for any Single
Loss may not be made under more than one Insuring Agreement. If any Single Loss covered under this Bond is recoverable or recovered in
whole or in part because of an unexpired discovery period under any other bonds or policies issued by the Underwriter to the Insured
or to any predecessor in interest of the Insured, the maximum liability of the Underwriter shall be the greater of either (1)&nbsp;the
applicable Limit of Liability under this Bond, or (2)&nbsp;the maximum liability of the Underwriter under such other bonds or policies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.9in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 11.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>OTHER
                                            INSURANCE</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Notwithstanding
anything to the contrary herein, if any loss covered by this Bond shall also be covered by other insurance or suretyship for the benefit
of the Insured, the Underwriter shall be liable hereunder only for the portion of such loss in excess of the amount recoverable under
such other insurance or suretyship, but not exceeding the applicable Limit of Liability of this Bond.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 12.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>DEDUCTIBLE
                                            AMOUNT</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Underwriter
shall not be liable under any Insuring Agreement unless the amount of the loss covered thereunder, after deducting the net amount of
all reimbursement and/or recovery received by the Insured with respect to such loss (other than from any other bond, suretyship or insurance
policy or as an advance by the Underwriter hereunder) shall exceed the applicable Deductible Amount; in such case the Underwriter shall
be liable only for such excess, subject to the applicable Limit of Liability and the other terms of this Bond.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">No Deductible
Amount shall apply to any loss covered under Insuring Agreement A sustained by any Investment Company named as an Insured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 13.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>TERMINATION</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Underwriter
may terminate this Bond as to any Insured or all Insureds only by written notice to such Insured or Insureds and, if this Bond is terminated
as to any Investment Company, to each such Investment Company terminated thereby and to the Securities and Exchange Commission, Washington,
D.C., in all cases not less than sixty (60) days prior to the effective date of termination specified in such notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Insured
may terminate this Bond only by written notice to the Underwriter not less than sixty (60) days prior to the effective date of the termination
specified in such notice. Notwithstanding the foregoing, when the Insured terminates this Bond as to any Investment Company, the effective
date of termination shall be not less than sixty (60) days from the date the Underwriter provides written notice of the termination to
each such Investment Company terminated thereby and to the Securities and Exchange Commission, Washington, D.C.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond will terminate as to any Insured that is a Non-Fund immediately and without notice upon (1)&nbsp;the takeover of such Insured&rsquo;s
business by any State or Federal official or agency, or by any receiver or liquidator, or (2)&nbsp;the filing of a petition under any
State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of the Insured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Premiums
are earned until the effective date of termination. The Underwriter shall refund the unearned premium computed at short rates in accordance
with the Underwriter&rsquo;s standard short rate cancellation tables if this Bond is terminated by the Insured or pro rata if this Bond
is terminated by the Underwriter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Upon
the detection by any Insured that an Employee has committed any Dishonest or Fraudulent Act(s), the Insured shall immediately remove
such Employee from a position that may enable such Employee to cause the Insured to suffer a loss by any subsequent Dishonest or Fraudulent
Act(s). The Insured, within two (2)&nbsp;business days of such detection, shall notify the Underwriter with full and complete particulars
of the detected Dishonest or Fraudulent Act(s).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">For purposes
of this section, detection occurs when any partner, officer, or supervisory employee of any Insured, who is not in collusion with such
Employee, becomes aware that the Employee has committed any Dishonest or Fraudulent Act(s).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond shall terminate as to any Employee by written notice from the Underwriter to each Insured and, if such Employee is an Employee of
an Insured Investment Company, to the Securities and Exchange Commission, in all cases not less than sixty (60) days prior to the effective
date of termination specified in such notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 14.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>RIGHTS
                                            AFTER TERMINATION</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">At any
time prior to the effective date of termination of this Bond as to any Insured, such Insured may, by written notice to the Underwriter,
elect to purchase the right under this Bond to an additional period of twelve (12) months within which to discover loss sustained by
such Insured prior to the effective date of such termination and shall pay an additional premium therefor as the Underwriter may require.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Such
additional discovery period shall terminate immediately and without notice upon the takeover of such Insured&rsquo;s business by any
State or Federal official or agency, or by any receiver or liquidator. Promptly after such termination the Underwriter shall refund to
the Insured any unearned premium.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The right
to purchase such additional discovery period may not be exercised by any State or Federal official or agency, or by any receiver or liquidator,
acting or appointed to take over the Insured&rsquo;s business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 15.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>CENTRAL
                                            HANDLING OF SECURITIES</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">The Underwriter
shall not be liable for loss in connection with the central handling of securities within the systems established and maintained by any
Depository (&ldquo;Systems&rdquo;), unless the amount of such loss exceeds the amount recoverable or recovered under any bond or policy
or participants&rsquo; fund insuring the Depository against such loss (the &ldquo;Depository&rsquo;s Recovery&rdquo;); in such case the
Underwriter shall be liable hereunder only for the Insured&rsquo;s share of such excess loss, subject to the applicable Limit of Liability,
the Deductible Amount and the other terms of this Bond.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">For determining
the Insured&rsquo;s share of such excess loss, (1)&nbsp;the Insured shall be deemed to have an interest in any certificate representing
any security included within the Systems equivalent to the interest the Insured then has in all certificates representing the same security
included within the Systems; (2)&nbsp;the Depository shall have reasonably and fairly apportioned the Depository&rsquo;s Recovery among
all those having an interest as recorded by appropriate entries in the books and records of the Depository in Property involved in such
loss, so that each such interest shall share in the Depository&rsquo;s Recovery in the ratio that the value of each such interest bears
to the total value of all such interests; and (3)&nbsp;the Insured&rsquo;s share of such excess loss shall be the amount of the Insured&rsquo;s
interest in such Property in excess of the amount(s)&nbsp;so apportioned to the Insured by the Depository.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond does not afford coverage in favor of any Depository or Exchange or any nominee in whose name is registered any security included
within the Systems.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 16.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>ADDITIONAL
                                            COMPANIES INCLUDED AS INSURED</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">If more
than one entity is named as the Insured:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the total
                                            liability of the Underwriter hereunder for each Single Loss shall not exceed the Limit of
                                            Liability which would be applicable if there were only one named Insured, regardless of the
                                            number of Insured entities which sustain loss as a result of such Single Loss,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the Insured
                                            first named in Item 1 of the Declarations shall be deemed authorized to make, adjust, and
                                            settle, and receive and enforce payment of, all claims hereunder as the agent of each other
                                            Insured for such purposes and for the giving or receiving of any notice required or permitted
                                            to be given hereunder; provided, that the Underwriter shall promptly furnish each named Insured
                                            Investment Company with (1)&nbsp;a copy of this Bond and any amendments thereto, (2)&nbsp;a
                                            copy of each formal filing of a claim hereunder by any other Insured, and (3)&nbsp;notification
                                            of the terms of the settlement of each such claim prior to the execution of such settlement,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the Underwriter
                                            shall not be responsible or have any liability for the proper application by the Insured
                                            first named in Item 1 of the Declarations of any payment made hereunder to the first named
                                            Insured,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">D.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">for the
                                            purposes of Sections 4 and 13, knowledge possessed or discovery made by any partner, officer
                                            or supervisory Employee of any Insured shall constitute knowledge or discovery by every named
                                            Insured,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">E.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">if the first
                                            named Insured ceases for any reason to be covered under this Bond, then the Insured next
                                            named shall thereafter be considered as the first named Insured for the purposes of this
                                            Bond, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">F.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">each named Insured
                                            shall constitute &ldquo;the Insured&rdquo; for all purposes of this Bond.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 17.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>NOTICE
                                            AND CHANGE OF CONTROL</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">Within
thirty (30) days after learning that there has been a change in control of an Insured by transfer of its outstanding voting securities
the Insured shall give written notice to the Underwriter of:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the names of
                                            the transferors and transferees (or the names of the beneficial owners if the voting securities
                                            are registered in another name), and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the total number
                                            of voting securities owned by the transferors and the transferees (or the beneficial owners),
                                            both immediately before and after the transfer, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 11pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the total number
                                            of outstanding voting securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">As used
in this Section, &ldquo;control&rdquo; means the power to exercise a controlling influence over the management or policies of the Insured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 18.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>CHANGE
                                            OR MODIFICATION</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond may only be modified by written Rider forming a part hereof over the signature of the Underwriter&rsquo;s authorized representative.
Any Rider which modifies the coverage provided by Insuring Agreement A, Fidelity, in a manner which adversely affects the rights of an
Insured Investment Company shall not become effective until at least sixty (60) days after the Underwriter has given written notice thereof
to the Securities and Exchange Commission, Washington, D.C., and to each Insured Investment Company affected thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 19.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>COMPLIANCE
                                            WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">This
Bond shall not be deemed to provide any coverage, and the Underwriter shall not be required to pay any loss or provide any benefit hereunder,
to the extent that the provision of such coverage, payment of such loss or provision of such benefit would cause the Underwriter to be
in violation of any applicable trade or economic sanctions, laws or regulations, including, but not limited to, any sanctions, laws or
regulations administered and enforced by the U.S. Department of Treasury Office of Foreign Assets Control (OFAC).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.2in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 20.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>ANTI-BUNDLING</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">If any
Insuring Agreement requires that an enumerated type of document be Counterfeit, or contain a Forgery or Alteration, the Counterfeit,
Forgery, or Alteration must be on or of the enumerated document itself, not on or of some other document submitted with, accompanying
or incorporated by reference into the enumerated document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt">IN WITNESS WHEREOF,
the Underwriter has caused this Bond to be executed on the Declarations Page.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right"><FONT STYLE="font-size: 8pt">Bond (6/18)</FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Split-Segment; Name: 2 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that Item 1 of the Declarations, Name of Insured, shall include the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Healthcare Investors</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Life Sciences Investors</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Healthcare Opportunities Fund</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla World Healthcare Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as above stated, nothing herein shall be
held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0001.0-00 (01/02)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that this Bond (other than Insuring Agreements C and D) does not cover loss resulting from or
in connection with any business, activities, or acts or omissions of (including services rendered by) any Insured which is <U>not</U>
an Insured Fund (&ldquo;Non-Fund Insured&rdquo;) or any Employee of a Non-Fund Insured, <U>except</U> loss, otherwise covered by the terms
of this Bond, resulting from or in connection with (1)&nbsp;services rendered by a Non-Fund Insured to an Insured Fund, or to shareholders
of such Fund in connection with the issuance, transfer, or redemption of their Fund shares, or (2)&nbsp;in the case of a Non-Fund Insured
substantially all of whose business is rendering the services described in (1)&nbsp;above, the general business, activities or operations
of such Non-Fund Insured, <U>excluding</U> (a)&nbsp;the rendering of services (other than those described in (1)&nbsp;above) to any person,
or (b)&nbsp;the sale of goods or property of any kind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is further understood and agreed that with
respect to any Non-Fund Insured,&nbsp;Insuring Agreements C and D only cover loss of Property which a Non-Fund Insured uses or holds,
or in which a Non-Fund Insured has an interest, in each case wholly or partially in connection with the rendering of services by a Non-Fund
Insured to an Insured Fund, or to shareholders of such Fund in connection with the issuance, transfer, or redemption of their Fund shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as above stated, nothing herein shall be
held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0003.0-02 (07/20)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that the Deductible Amount for Insuring Agreement E, Forgery or Alteration, and Insuring Agreement
F, Securities, shall not apply with respect to loss through Forgery of a signature on the following documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(1)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">letter requesting redemption of $25,000 or less payable by check to the Shareholder of Record and sent
to an Authorized Address; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(2)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">letter requesting redemption of $25,000 or less by wire transfer to the Shareholder of Record of an Authorized
Bank Account; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(3)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">written request to a trustee or custodian for a Designated Retirement Account (&ldquo;DRA&rdquo;) which
holds shares of an Insured Fund, where such request (a)&nbsp;purports to be from or at the instruction of the Owner of such DRA, and (b)&nbsp;directs
such trustee or custodian to transfer $25,000 or less from such DRA to a trustee or custodian for another DRA established for the benefit
of such Owner;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>provided</U>, that the Limit of Liability for
a Single Loss as described above shall be $25,000 and that the Insured shall bear 20% of each such loss. This Rider shall not apply in
the case of any such Single Loss which exceeds $25,000; in such case the Deductible Amounts and Limits of Liability set forth in Item
3 of the Declarations shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this Rider:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(A)</TD><TD STYLE="text-align: justify">&ldquo;Designated Retirement Account&rdquo; means any retirement plan or account described or qualified
under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(B)</TD><TD STYLE="text-align: justify">&ldquo;Owner&rdquo; means the individual for whose benefit the DRA, or a subaccount thereof, is established.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as above stated, nothing herein shall be
held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0027.0-02 (07/18)</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>




<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that this Bond does not cover any loss resulting from or in connection with the acceptance of
any Third Party Check, unless</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.4in">(1)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">such Third Party Check is used to open or increase an account which is registered in the name of one or
more of the payees on such Third Party Check, and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.4in">(2)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">reasonable efforts are made by the Insured, or by the entity receiving Third Party Checks on behalf of
the Insured, to verify all endorsements on all Third Party Checks made payable in amounts greater than $100,000 (provided, however, that
the isolated failure to make such efforts in a particular instance will not preclude coverage, subject to the exclusions herein and in
the Bond),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">and then only to the
extent such loss is otherwise covered under this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this Rider, &ldquo;Third Party
Check&rdquo; means a check made payable to one or more parties and offered as payment to one or more other parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is further understood and agreed that notwithstanding
anything to the contrary above or elsewhere in the Bond, this Bond does not cover any loss resulting from or in connection with the acceptance
of a Third Party Check where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.4in">(1)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">any payee on such Third Party Check reasonably appears to be a corporation or other entity; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.4in">(2)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">such Third Party Check is made payable in an amount greater than $100,000 and does not include the purported
endorsements of all payees on such Third Party Check.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is further understood and agreed that this
Rider shall not apply with respect to any coverage that may be available under Insuring Agreement A, &ldquo;Fidelity.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as above stated, nothing herein shall be
held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0030.0-01 (01/02)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most property and casualty insurers, including
ICI Mutual Insurance Company, a Risk Retention Group (&ldquo;ICI Mutual&rdquo;), are subject to the requirements of the Terrorism Risk
Insurance Act of 2002, as amended (the &ldquo;Act&rdquo;). The Act establishes a federal insurance backstop under which ICI Mutual and
these other insurers may be partially reimbursed by the United States Government for future <B>&ldquo;insured losses&rdquo;</B> resulting
from certified <B>&ldquo;acts of terrorism.&rdquo;</B> (Each of these <B>bolded terms </B>is defined by the Act.) The Act also places
certain disclosure and other obligations on ICI Mutual and these other insurers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Act, any future losses to ICI
Mutual caused by certified <B>&ldquo;acts of terrorism&rdquo;</B> may be partially reimbursed by the United Sates government under a formula
established by the Act. Under this formula, the United States government would generally reimburse ICI Mutual for the Federal Share of
Compensation of ICI Mutual&rsquo;s <B>&ldquo;insured losses&rdquo;</B> in excess of ICI Mutual&rsquo;s <B>&ldquo;insurer deductible&rdquo;</B>
until total <B>&ldquo;insured losses&rdquo;</B> of all participating insurers reach $100 billion (the &ldquo;Cap on Annual Liability&rdquo;).
If total <B>&ldquo;insured losses&rdquo; </B>of all property and casualty insurers reach the Cap on Annual Liability in any one calendar
year, the Act limits U.S. Government reimbursement and provides that the insurers will not be liable under their policies for their portions
of such losses that exceed such amount. Amounts otherwise payable under this Bond may be reduced as a result.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Bond has no express exclusion for <B>&ldquo;acts
of terrorism.&rdquo;</B> However, coverage under this Bond remains subject to all applicable terms, conditions, and limitations of the
Bond (including exclusions) that are permissible under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The portion of the premium that is attributable
to any coverage potentially available under the Bond for <B>&ldquo;acts of terrorism&rdquo;</B> is one percent (1%) and does not include
any charges for the portion of loss that may be covered by the U.S. Government under the Act</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As used herein, &ldquo;Federal Share of Compensation&rdquo;
shall mean 80% beginning on January&nbsp;1, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as above stated, nothing herein shall be
held to alter, waive or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0053.1-01 (05/21)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that notwithstanding Section&nbsp;2.Q of this Bond, this Bond is amended by adding an additional
Insuring Agreement J as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 12pt">J.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 12pt">COMPUTER SECURITY</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loss (including loss of Property) resulting directly
from Computer Fraud; <U>provided</U>, that the Insured has adopted in writing and generally maintains and follows during the Bond Period
all Computer Security Procedures. The isolated failure of the Insured to maintain and follow a particular Computer Security Procedure
in a particular instance will not preclude coverage under this Insuring Agreement, subject to the specific exclusions herein and in the
Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify"><U>Definitions</U>. The following terms used in this Insuring Agreement shall have the following meanings:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">&ldquo;Authorized User&rdquo; means any person or entity designated by the Insured (through contract,
assignment of User Identification, or otherwise) as authorized to use a Covered Computer System, or any part thereof. An individual who
invests in an Insured Fund shall not be considered to be an Authorized User solely by virtue of being an investor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">&ldquo;Computer Fraud&rdquo; means the unauthorized entry of data into, or the deletion or destruction
of data in, or change of data elements or programs within, a Covered Computer System which:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">is committed by any Unauthorized Third Party anywhere, alone or in collusion with other Unauthorized Third
Parties; <U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">is committed with the conscious manifest intent (a)&nbsp;to cause the Insured to sustain a loss, <U>and</U>
(b)&nbsp;to obtain financial benefit for the perpetrator or any other person; <U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">causes (x)&nbsp;Property to be transferred, paid or delivered; <U>or</U> (y)&nbsp;an account of the Insured,
or of its customer, to be added, deleted, debited or credited; <U>or</U> (z)&nbsp;an unauthorized or fictitious account to be debited
or credited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">&ldquo;Computer Security Procedures&rdquo; means procedures for prevention of unauthorized computer access
and use and administration of computer access and use as provided in writing to the Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">&ldquo;Covered Computer System&rdquo; means any Computer System as to which the Insured has possession,
custody and control.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">&ldquo;Unauthorized Third Party&rdquo; means any person or entity that, at the time of the Computer Fraud,
is not an Authorized User.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: justify">&ldquo;User Identification&rdquo; means any unique user name (<I>i.e.</I>, a series of characters) that
is assigned to a person or entity by the Insured.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify"><U>Exclusions</U>. It is further understood and agreed that this Insuring Agreement J shall not cover:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">Any loss covered under Insuring Agreement A, &ldquo;Fidelity,&rdquo; of this Bond; <U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">Any loss resulting from the intentional failure to adhere to one or more Computer Security Procedures;
<U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Any loss resulting from a Computer Fraud committed by or in collusion with:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 27pt">(1)</TD><TD STYLE="text-align: justify">any Authorized User (whether a natural person or an entity); <U>or</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 27pt">(2)</TD><TD STYLE="text-align: justify">in the case of any Authorized User which is an entity, (a)&nbsp;any director, officer, partner, employee
or agent of such Authorized User, or (b)&nbsp;any entity which controls, is controlled by, or is under common control with such Authorized
User (&ldquo;Related Entity&rdquo;), or (c)&nbsp;any director, officer, partner, employee or agent of such Related Entity; <U>or</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 27pt">(3)</TD><TD STYLE="text-align: justify">in the case of any Authorized User who is a natural person, (a)&nbsp;any entity for which such Authorized
User is a director, officer, partner, employee or agent (&ldquo;Employer Entity&rdquo;), or (b)&nbsp;any director, officer, partner, employee
or agent of such Employer Entity, or (c)&nbsp;any entity which controls, is controlled by, or is under common control with such Employer
Entity (&ldquo;Employer-Related Entity&rdquo;), or (d)&nbsp;any director, officer, partner, employee or agent of such Employer-Related
Entity;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>and</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Any loss resulting from physical damage to or destruction of any Covered Computer System, or any part
thereof, or any data, data elements or media associated therewith; <U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">Any loss resulting from Computer Fraud committed by means of wireless access to any Covered Computer System,
or any part thereof, or any data, data elements or media associated therewith; <U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: justify">Any loss not directly and proximately caused by Computer Fraud (including, without limitation, disruption
of business and extra expense); <U>and</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">g.</TD><TD STYLE="text-align: justify">Payments made to any person(s)&nbsp;who has threatened to deny or has denied authorized access to a Covered
Computer System or otherwise has threatened to disrupt the business of the Insured.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this Insuring Agreement, &ldquo;Single
Loss,&rdquo; as defined in Section&nbsp;1.EE of this Bond, shall also include all loss caused by Computer Fraud(s)&nbsp;committed by one
person, or in which one person is implicated, whether or not that person is specifically identified. A series of losses involving unidentified
individuals, but arising from the same method of operation, may be deemed by the Underwriter to involve the same individual and in that
event shall be treated as a Single Loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is further understood and agreed that nothing
in this Rider shall affect the exclusion set forth in Section&nbsp;2.O of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Coverage under this Insuring Agreement shall terminate
upon termination of this Bond. Coverage under this Insuring Agreement may also be terminated without terminating this Bond as an entirety:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(a)</TD><TD STYLE="text-align: justify">by written notice from the Underwriter not less than sixty (60) days prior to the effective date of termination
specified in such notice; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">(b)</TD><TD STYLE="text-align: justify">immediately by written notice from the Insured to the Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Except as above stated, nothing herein shall be held to alter, waive
or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0019.0-04 (07/18)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ICI MUTUAL INSURANCE COMPANY,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT COMPANY BLANKET BOND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; padding-left: 2pt">INSURED</TD>
    <TD STYLE="border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">BOND NUMBER</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: left; padding-left: 2pt">Tekla Capital Management LLC</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 50%; text-align: right; padding-left: 2pt">03660121B</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; text-align: left; padding-left: 2pt">EFFECTIVE DATE</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">BOND PERIOD</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 5pt; width: 32%; text-align: right; padding-left: 2pt">AUTHORIZED REPRESENTATIVE</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: left; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-right: 2pt; text-align: center; padding-left: 2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 5pt; width: 36%; padding-left: 2pt">July&nbsp;1, 2021</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; width: 32%; padding-left: 2pt">July&nbsp;1, 2021 to July&nbsp;1, 2022</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 0.3in; width: 32%; text-align: right; padding-left: 0in">/S/ Catherine Dalton</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SOCIAL ENGINEERING FRAUD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that this Bond is amended by adding an additional Insuring Agreement M, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 12pt">M.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 12pt">Social Engineering Fraud</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loss resulting directly from the Insured, in good
faith, transferring, paying, or delivering money from its own account as a direct result of a Social Engineering Fraud;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PROVIDED, that the entity receiving such request
generally maintains and follows during the Bond Period all Social Engineering Security Procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Limit of Liability for a Single Loss under
this Insuring Agreement M shall be the lesser of (a)&nbsp;50% of the amount by which such Single Loss exceeds the Deductible Amount or
(b)&nbsp;$1,000,000 (One Million Dollars) or limit, and the Insured shall bear the remainder of any such Single Loss. The Deductible Amount
for this Insuring Agreement M is $25,000 (Twenty-Five Thousand Dollars).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding any other provision of this Bond,
the aggregate Limit of Liability under this Bond with respect to any and all loss or losses under this Insuring Agreement M shall be $1,000,000
(One Million Dollars) for the Bond Period, irrespective of the total amount of such loss or losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Insuring Agreement M does not cover loss
covered under any other Insuring Agreement of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is further understood and agreed that for purposes
of this rider:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">&ldquo;Communication&rdquo; means an instruction that (a)&nbsp;directs an Employee to transfer, pay, or
deliver money from the Insured&rsquo;s own account, (b)&nbsp;contains a material misrepresentation of fact, and (c)&nbsp;is relied upon
by the Employee, believing it to be true.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">&ldquo;Social Engineering Fraud&rdquo; means the intentional misleading of an Employee through the use
of a Communication, where such Communication:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(a)</TD><TD STYLE="text-align: justify">is transmitted to the Employee in writing, by voice over the telephone, or by Electronic Transmission;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(b)</TD><TD STYLE="text-align: justify">is made by an individual who purports to be (i)&nbsp;an Employee who is duly authorized by the Insured
to instruct another Employee to transfer, pay, or deliver money, or (ii)&nbsp;an officer or employee of a Vendor who is duly authorized
by the Insured to instruct an Employee to transfer, pay, or deliver money; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">(c)</TD><TD STYLE="text-align: justify">is unauthorized, dishonest or fraudulent and is made with the manifest intent to deceive.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">&ldquo;Social Engineering Security Procedures&rdquo; means security procedures intended to prevent Social
Engineering Fraud as set forth in the Application and/or as otherwise provided in writing to the Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">&ldquo;Vendor&rdquo; means any entity or individual that provides goods or services to the Insured under
a pre-existing, written agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Except as above stated, nothing herein shall be held to alter, waive,
or extend any of the terms of this Bond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0054.0-00 (07/18)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Fidelity Bond Agreement</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AGREEMENT made this 3th day of June&nbsp;2021,
by and among Tekla Healthcare Investors, Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund, Tekla World Healthcare Fund
and Tekla Capital Management LLC (each an &ldquo;Insured&rdquo; and collectively the &ldquo;Insureds&rdquo;).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, each of among Tekla Healthcare Investors,
Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund and Tekla World Healthcare Fund (each a &ldquo;Fund&rdquo; and collectively
the &ldquo;Funds&rdquo;) is a management investment company registered under the Investment Company Act of 1940, as amended (the &ldquo;1940
Act&rdquo;); and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, pursuant to the requirements of Rule&nbsp;17g-1
under the 1940 Act, each Fund is required to maintain a fidelity bond against larceny and embezzlement covering certain of its officers
and employees; and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, Rule&nbsp;17g-1 provides that a registered
management investment company may obtain a joint insured bond covering itself and one or more other registered investment companies which
are managed by the same persons and one or more other parties, provided that each such other party is engaged in the management or distribution
of the shares of such registered investment companies; and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, each Fund is managed by Tekla Capital
Management LLC (&ldquo;TCM&rdquo;); and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, the Insureds have entered into a joint
insured bond issued by ICIM Services (the &ldquo;Bond&rdquo;); and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, the Insureds desire to provide for: (1)&nbsp;the
method by which the amount of coverage provided under the Bond will be determined from time to time and (2)&nbsp;an equitable and proportionate
allocation of any proceeds received under the Bond in the event that one or more Insureds suffer loss and consequently are entitled to
recover under the Bond;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOW THEREFORE, it is hereby agreed among the parties
hereto as follows:</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Amount of Coverage
Maintained</U></FONT>. The amount of fidelity coverage under the Bond shall at all times be at least equal in the amount to the total
amount of coverage which each Fund would have been required to provide and maintain individually pursuant to the schedule set forth in
paragraph (d)&nbsp;of Rule&nbsp;17g-1 under the 1940 Act had each Fund not been a named insured under the Bond.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Allocation of
Recovery</U></FONT>. In the event recovery is received under the Bond as a result of loss sustained by one or more of the Funds and TCM,
each Fund shall receive an equitable and proportionate share of the recovery which shall be at least equal to the amount which each Fund
would have received had it provided and maintained a single insured bond with the minimum coverage required by Rule&nbsp;17g-1(d)(1).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Allocation of
Premiums</U></FONT>. No premium shall be paid by a Fund under the Bond unless such Fund&rsquo;s Board of Trustees, including majority
of those Trustees who are not &ldquo;interested persons&rdquo; of the Fund, as defined by Section&nbsp;2(a)&nbsp;(19) of the 1940 Act,
shall approve the portion of the premium to be paid by such Fund.</P>

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

<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Amendment</U></FONT>.
This Agreement may not be amended or modified in any manner except by a written agreement executed by the parties.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Filing with the
Commission</U></FONT>. A copy of this Agreement and any amendment thereto shall be filed with the Securities and Exchange Commission within
10 days after the execution thereof.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Applicable Law</U></FONT>.
This Agreement shall be construed and the provisions thereof interpreted under and in accordance with the laws of the Commonwealth of
Massachusetts.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Limitations of
Liability of Trustees and Shareholders</U></FONT>. A copy of each Fund&rsquo;s Declaration of Trust is on file with the Secretary of State
of the Commonwealth of Massachusetts, and it is hereby agreed that this Agreement is executed on behalf of the Board of Trustees of each
Fund as Trustees and not individually and that the obligations of this Agreement are not binding upon any of the Trustees, officers or
shareholders of either Fund individually but are binding only upon the assets and property of each Fund.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 11pt"><U>Term</U></FONT>.
The term of this Agreement shall commence on the date hereof and shall terminate upon the termination or cancellation of the Bond.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, each of the parties has caused
this Agreement to be executed in its name and behalf by its authorized representative as of the day and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Tekla Healthcare Investors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Tekla Life Sciences Investors</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">By: /s/ Laura Woodward</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">By: /s/ Laura Woodward</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify; width: 43%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Laura Woodward </FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify; width: 43%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Laura Woodward</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Officer </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tekla Healthcare Opportunities Fund </FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tekla World Healthcare Fund</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">By: /s/ Laura Woodward</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">By: /s/ Laura Woodward</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Laura Woodward </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Laura Woodward</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Officer </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tekla Capital Management LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">By: /s/ Daniel R. Omstead</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Name:</FONT></TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Daniel R. Omstead</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Title:</FONT></TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">President</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  </TABLE>

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

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

<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tekla Capital Management LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 Federal Street, 19<SUP>th</SUP> Floor</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Boston, MA 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">July&nbsp;28, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, NE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, DC 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Att: The Office of Filings and Information Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">RE: Statement
of the amount of a single insured bond and period for which premiums have been paid for:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Healthcare Investors (SEC File
Number 811-04889)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Life Sciences Investors (SEC
File Number 811-06565)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Healthcare Opportunities Fund
(SEC File Number 811-22955)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla World Healthcare Fund (SEC File
Number 811-23037)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sir/Madam:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Pursuant to Rule&nbsp;17g-1 under the
Investment Company Act of 1940, please find the following statement showing the amount of the single insured bond which the investment
company would have provided and maintained had it not been named as an insured under a joint insured bond:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Total Assets </FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Minimum Amount of </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><U>March 31, 2021</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><U>Single Insured Bond</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla Healthcare Investors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$&nbsp;&nbsp;&nbsp;1,119,798,773</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$ &nbsp;&nbsp;1,250,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla Life Sciences Investors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$&nbsp;&nbsp;&nbsp;503,327,593</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla Healthcare Opportunities Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$&nbsp;&nbsp;&nbsp;1,158,977,519</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$&nbsp;&nbsp;&nbsp;1,250,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla World Healthcare Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$&nbsp;&nbsp;&nbsp;575,480,090</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><U>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900,000</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$&nbsp;&nbsp;&nbsp;4,300,000</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The premiums have been paid for Tekla Healthcare
Investors, Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund and Tekla World Healthcare fund for the period from July&nbsp;1,
2021 to July&nbsp;1, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif">Very truly yours,</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">/s/ Laura Woodward</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Laura Woodward</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Chief Compliance Officer</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tm2123229d1_4017gimg001.gif" ALT="" STYLE="height: 12px; width: 11px">TEKLA
HEALTHCARE INVESTORS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tm2123229d1_4017gimg002.gif" ALT="" STYLE="height: 12px; width: 11px">TEKLA
LIFE SCIENCES INVESTORS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tm2123229d1_4017gimg003.gif" ALT="" STYLE="height: 11px; width: 11px">TEKLA
HEALTHCARE OPPORTUNITIES FUND</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TEKLA WORLD HEALTHCARE FUND</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Minutes of the Virtual Meetings of the Boards of
Trustees</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">June&nbsp;10, 2021</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the foregoing notice, virtual meetings of the Boards of
Trustees of Tekla Healthcare Investors (&ldquo;HQH&rdquo;), of Tekla Life Sciences Investors (&ldquo;HQL&rdquo;), of Tekla Healthcare
Opportunities Fund (&ldquo;THQ&rdquo;) and of Tekla World Healthcare Fund (&ldquo;THW&rdquo;) (each, a &ldquo;Fund&rdquo; and together,
the &ldquo;Funds&rdquo;) were held on June&nbsp;10. Although the Boards participated together on a virtual conference for convenience
in order to hear common presentations, each took action independently of the other Boards. Unless otherwise indicated, each resolution
set forth below was adopted by the Board of each Fund.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">After discussion, upon motion duly made and seconded, it
was unanimously approved first by the Independent Trustees, voting alone, and then by the full Board of each Fund:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>RESOLVED, </B>that upon due consideration of all relevant
factors, including but not limited to the value of the aggregate assets of the Fund to which each &ldquo;Covered Person&rdquo; (which
for the purpose of these resolutions, shall mean each officer and employee of the Fund and of the Adviser, who may, singly or jointly
with others, have access to securities or funds of the Fund, either directly or through authority to draw upon such funds or to direct
generally the disposition of such securities of the Fund), may have access, the type and terms of the Fund&rsquo;s arrangements for the
custody and safekeeping of assets and the nature of the portfolio securities of the Fund, the fidelity bond in which the Fund is named
as an insured for any larceny or embezzlement committed by any Covered Person is hereby determined to be reasonable in form and amount
and its continuance approved; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>FURTHER RESOLVED, </B>that the participation of the Fund
in the Allocation Agreement, in the form provided to the Board for purposes of this meeting, is hereby approved and that the appropriate
officers of the Fund be, and each of them hereby is, authorized and directed to execute the Allocation Agreement, in the form presented
at this meeting and with such changes as such officers, in consultation with Fund counsel, shall deem necessary or desirable and proper,
the execution and delivery of such agreement to constitute conclusive evidence of the authority therefore; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>FURTHER RESOLVED, </B>that after having given due consideration
to all relevant factors, including the number of other persons named as insureds, the nature of the business activities of such persons,
the amount of the fidelity bond and the premium for such bond, the ratable allocation of the premium among the Funds and the Adviser,
and the extent to which the share of the premium allocated to the Fund is less than the premium that the Fund would have had to pay if
it had provided and maintained a single insured bond, the Board, including</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">all of the Independent Trustees, hereby approves the allocation
of the premium for the bond of 80 percent to the Funds and 20 percent to the Adviser; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>FURTHER RESOLVED, </B>that the officers of the Fund be,
and each of them hereby is, authorized and directed to take all such actions and to execute and deliver such applications, documents and
instruments, including any changes that such officers, in consultation with Fund counsel, shall deem necessary or desirable and proper
in connection with such bond; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>FURTHER RESOLVED, </B>that the officers of the Fund be,
and each hereby is, designated as an officer directed to make filings and to give the notices required of the Fund by Rule&nbsp;17g-1
under the Investment Company Act of 1940, as amended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<!-- Field: Page; Sequence: 35; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>tm2123229d1_4017gimg001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2123229d1_4017gimg001.gif
M1TE&.#EA"P , '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
M! $     +      +  P @    /___P(4A(\0RZT-(WRR.HL7S7+WH(0@6
!.P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>tm2123229d1_4017gimg002.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2123229d1_4017gimg002.gif
M1TE&.#EA"P , '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
J! $     +    0 +  L @    /___P(0C(^ RZP-UXMT4FB;VH&# @ [

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>tm2123229d1_4017gimg003.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2123229d1_4017gimg003.gif
M1TE&.#EA"P + '< ,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E "'Y
K! $     +      +  L @    /___P(11!R7NNV?$)Q-4FHOS,]XY14 .P$!

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