<SEC-DOCUMENT>0001104659-22-091191.txt : 20220815
<SEC-HEADER>0001104659-22-091191.hdr.sgml : 20220815
<ACCEPTANCE-DATETIME>20220815155931
ACCESSION NUMBER:		0001104659-22-091191
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220815
DATE AS OF CHANGE:		20220815
EFFECTIVENESS DATE:		20220815

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:		221165464

	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:		221165466

	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:		221165465

	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:		221165467

	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>tm2223361d1_4017g.htm
<DESCRIPTION>40-17G
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<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="font: 10pt Times New Roman, Times, Serif; text-align: center; 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="font: 10pt Times New Roman, Times, Serif; text-align: center; 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>

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    <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>
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<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"><FONT STYLE="font-size: 11pt"><B>DECLARATIONS</B></FONT></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="border-top: Black 1pt solid; padding-top: 2pt; font: bold 10pt Times New Roman, Times, Serif; width: 8%"><FONT STYLE="font-size: 11pt">ITEM
    1.</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt; 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="border-top: Black 1pt solid; padding-top: 2pt; font: bold 10pt Times New Roman, Times, Serif; width: 42%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt; 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: 11.5pt">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="font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in"><FONT STYLE="font-size: 11pt">03660122B</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: 11.5pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11.5pt">Principal Office:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11.5pt">Mailing Address:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11.5pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in"><FONT STYLE="font-size: 11.5pt">100 Federal Street, 19<SUP>th
    </SUP>Floor</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in"><FONT STYLE="font-size: 11.5pt">100 Federal
    Street, 19<SUP>th</SUP> Floor</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11.5pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in"><FONT STYLE="font-size: 11.5pt">Boston, MA 02110</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in"><FONT STYLE="font-size: 11.5pt">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, 2022&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
    to 12:01 a.m. on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 1, 2023&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="border-top: black 1pt solid; padding-top: 2pt; 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="border-top: black 1pt solid; padding-top: 2pt; 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"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">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%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>LIMIT OF<BR>
    LIABILITY</B></FONT></P></TD>
    <TD STYLE="width: 11%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>DEDUCTIBLE<BR>
    AMOUNT</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Insuring Agreement A-</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">FIDELITY</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></P></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Insuring Agreement B-</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">AUDIT EXPENSE</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$50,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$5,000</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Insuring Agreement C-</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">ON PREMISES</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Insuring Agreement D-</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">IN TRANSIT</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Insuring Agreement E-</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">FORGERY OR ALTERATION</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right"><P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></P></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Insuring Agreement F-</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">SECURITIES</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Insuring Agreement G-</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">COUNTERFEIT CURRENCY</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: top; text-align: right"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Insuring Agreement H-</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">UNCOLLECTIBLE ITEMS OF DEPOSIT</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$5,000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Insuring Agreement I-</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">PHONE/ELECTRONIC TRANSACTIONS</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">Not Applicable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">Not Applicable</FONT></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><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-size: 9pt">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.</FONT></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><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-size: 9pt">OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:</FONT></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><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Insuring Agreement J-</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">COMPUTER SECURITY</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Insuring Agreement M-</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">SOCIAL ENGINEERING FRAUD</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$1,000,000</FONT></TD>
    <TD STYLE="padding-right: 14pt; text-align: right"><FONT STYLE="font-size: 9pt">$25,000</FONT></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; font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 2pt; width: 8%"><FONT STYLE="font-size: 11pt"><B>Item 4.</B></FONT></TD><TD STYLE="padding-top: 2pt; text-align: justify; width: 92%"><FONT STYLE="font-size: 11pt">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.</FONT></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; font: 11pt Times New Roman, Times, Serif; width: 100%; 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%"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; text-align: left; width: 44%"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/S/
    Swenitha Nalli</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 6%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; text-align: left; width: 44%"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/S/
    Catherine Dalton</FONT></TD></TR>
<TR STYLE="font-size: 11pt; vertical-align: bottom">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized
    Representative</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized
    Representative</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 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="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="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B>INVESTMENT COMPANY BLANKET BOND</B></FONT></P>

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

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

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

<P STYLE="font: 11pt 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: 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">&nbsp;</P>

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

<P STYLE="font: 12pt 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; 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: 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; 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: 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; 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: 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt 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: 11pt 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"><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="font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></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-size: 11pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="font-size: 11pt; 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) any customer of the Insured, or (b) any shareholder of or subscriber to
                                            shares issued by any Investment Company, or (c) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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) above is a condition
precedent to the Insured having relied upon the items.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 11pt">PROVIDED,
that (a) Items of Deposit shall not be deemed uncollectible until the Insured&rsquo;s collection procedures have failed, (b) 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) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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


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    <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; text-indent: 27pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="font-size: 11pt; 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) did not cause, directly or indirectly, such shares to
                                            be credited to such account, and (b) directly or indirectly received any proceeds or other
                                            benefit from such redemption; or</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="font-size: 11pt; 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) to be paid or made payable to other than an Authorized Recipient or an
                                            Authorized Bank Account or (ii) to be sent to other than an Authorized Address;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(4)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(5)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(6)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">1.</FONT></TD><TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt">Except
                                            as provided in paragraph 2 below, this Bond shall apply to any additional office(s) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">2.</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

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

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


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    <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"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">1.</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">2.</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 11pt 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 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.35pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>


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    <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"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

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

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

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

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

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>A.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>B.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>C.</B></FONT></TD><TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Authorized
                                            Address&rdquo;</B> means (1) any Officially Designated address to which redemption proceeds
                                            may be sent, (2) any address designated in writing (not to include Electronic Transmission)
                                            by the Shareholder of Record and received by the Insured at least one (1) day prior to the
                                            effective date of such designation, or (3) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>D.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>F.</B></FONT></TD><TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>&ldquo;Computer
                                            System&rdquo;</B> means (1) computers with related peripheral components, including storage
                                            components, (2) systems and applications software, (3) terminal devices, (4) related communications
                                            networks or customer communication systems, and (5) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>G.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>H.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>I.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>J.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>K.</B></FONT></TD><TD STYLE="font-size: 11pt; 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 17f-4 under
                                            the Investment Company Act of 1940.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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    <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"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>L.</B></FONT></TD><TD STYLE="font-size: 11pt; 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 37 of the Investment Company Act of 1940, committed
                                            with the conscious manifest intent (1) to cause the Insured to sustain a loss and (2) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"><FONT STYLE="font-size: 11pt"><B>M.</B></FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(4)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 54pt"></TD><TD STYLE="font-size: 11pt; width: 27pt"><FONT STYLE="font-size: 11pt">(a)</FONT></TD><TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt">an
                                            investment adviser,</FONT></TD></TR>
<TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt"></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">(b)</FONT></TD><TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt">an underwriter
                                            (distributor),</FONT></TD></TR>
<TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt"></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">(c)</FONT></TD><TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt">a transfer agent
                                            or shareholder accounting recordkeeper, or</FONT></TD></TR>
<TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt"></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 11pt">(d)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt 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) 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) 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) 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) which is not an &ldquo;affiliated person&rdquo; (as defined
in Section 2(a) 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) which is a &ldquo;Bank&rdquo; (as defined in Section 2(a) of the Investment Company Act of 1940),
and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 11pt; vertical-align: top">
<TD STYLE="font-size: 11pt; width: 0.5in"></TD><TD STYLE="font-size: 11pt; width: 0.25in"><FONT STYLE="font-size: 11pt">(6)</FONT></TD><TD STYLE="font-size: 11pt; 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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    <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="font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></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: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<!-- Field: Split-Segment; Name: a2 -->
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(7)</TD><TD STYLE="text-align: justify">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) hereof, and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(8)</TD><TD>each officer, partner or employee of</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.5pt"></TD><TD STYLE="width: 22.5pt">(a)</TD><TD>any Depository or Exchange,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.5pt"></TD><TD STYLE="width: 22.5pt">(b)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.5pt"></TD><TD STYLE="width: 22.5pt">(c)</TD><TD STYLE="text-align: justify">any recognized service company which provides clerks or other personnel to any Depository or Exchange
on a contract basis,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.35pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt">while such officer, partner or employee is performing services
for any Depository in the operation of systems for the central handling of securities, and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(9)</TD><TD STYLE="text-align: justify">in the case of an Insured which is an &ldquo;employee benefit plan&rdquo; (as defined in Section 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 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).</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">Each employer of temporary personnel
and each entity referred to in subsections (6) and (7) and their respective partners, officers and employees shall collectively be deemed
to be one person for all the purposes of this Bond.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <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">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(1)</TD><TD STYLE="text-align: justify">in the initial account application,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(2)</TD><TD STYLE="text-align: justify">in writing accompanied by a signature guarantee, or</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(3)</TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-align: justify; text-indent: -0.25in">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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) redemption
of shares issued by an Investment Company, (2) election concerning dividend options available to Fund shareholders, (3) 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) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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) in which the Insured has a legally cognizable interest,
(2) 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) which
are held by the Insured for any purpose or in any capacity.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

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

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    <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="font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></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: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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) in the initial
account application, or (2) in writing accompanied by a signature guarantee, or (3) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(1)</TD><TD STYLE="text-align: justify">all loss caused by any one act (other than a Dishonest or Fraudulent Act) committed by one person, or</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(2)</TD><TD STYLE="text-align: justify">all loss caused by Dishonest or Fraudulent Acts committed by one person, or</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(3)</TD><TD STYLE="text-align: justify">all expenses incurred with respect to any one audit or examination, or</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.35pt"></TD><TD STYLE="width: 22.15pt">(4)</TD><TD STYLE="text-align: justify">all loss caused by any one occurrence or event other than those specified in subsections (1)&nbsp;through
(3) above.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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) and (2) above of any other person shall be deemed to be the acts of such other person for purposes of this subsection.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>SECTION 2.</B></TD><TD STYLE="text-align: justify"><B>EXCLUSIONS</B></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">THIS BOND DOES NOT COVER:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">A.</TD><TD STYLE="text-align: justify">Loss resulting from (1) riot or civil commotion outside the United States of America and Canada, or (2)
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.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <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">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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 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, Investment Companies, or investment advisers,
unless such loss, in the absence of such law, rule or regulation, would be covered under Insuring Agreement A, E, or F.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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) the Insured&rsquo;s contract with such Security Company, and (2) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-size: 11pt">H.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Loss in the form of (1) damages of any type for which the Insured is legally
liable, except direct compensatory damages, or (2) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(1)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(2)</TD><TD STYLE="text-align: justify">to do damage to the premises or Property of the Insured,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -9pt">unless such loss
is otherwise covered under Insuring Agreement A.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -9pt">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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) a person registered as
a broker under the Securities Exchange Act of 1934 or (2) an &ldquo;accredited investor&rdquo; as defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, which is not an individual.</FONT></TD></TR></TABLE>

<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"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt 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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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 1.N(2), unless such loss (1) 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) 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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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"></TD><TD STYLE="width: 27pt"><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) is sustained by any investment company registered under the Investment
Company Act of 1940 that is named as an Insured and (2) is otherwise covered under Insuring Agreement A.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>SECTION 3.</B></TD><TD STYLE="text-align: justify"><B>ASSIGNMENT OF RIGHTS</B></TD>
</TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</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"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<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 0pt 27pt; text-align: justify">Assignment of any rights or claims under
this Bond shall not bind the Underwriter without the Underwriter&rsquo;s written consent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><FONT STYLE="font-size: 11pt"><B>SECTION 4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>LOSS</B></FONT>&mdash;<FONT STYLE="font-size: 11pt"><B>NOTICE</B></FONT>&mdash;<FONT STYLE="font-size: 11pt"><B>PROOF</B></FONT>&mdash;<FONT STYLE="font-size: 11pt"><B>LEGAL
PROCEEDINGS</B></FONT></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 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">The Insured shall provide the Underwriter
with such information, assistance, and cooperation as the Underwriter may reasonably request.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">See also General Agreement C (Court Costs
and Attorneys&rsquo; Fees).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.35pt; text-align: justify">Notice hereunder shall be given to
Manager, Professional Liability Claims, ICI Mutual Insurance Company, RRG, 1401 H St. NW, Washington, DC 20005, with an electronic copy
to LegalSupport@icimutual.com.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>SECTION 5.</B></TD><TD STYLE="text-align: justify"><B>DISCOVERY</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">For all purposes under this Bond, a loss
is discovered, and discovery of a loss occurs, when the Insured</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(1)</TD><TD STYLE="text-align: justify">becomes aware of facts, or</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(2)</TD><TD STYLE="text-align: justify">receives notice of an actual or potential claim by a third party which alleges that the Insured is liable
under circumstances,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

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

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    <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"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>SECTION 6.</B></TD><TD STYLE="text-align: justify"><B>VALUATION OF PROPERTY</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(1)</TD><TD STYLE="text-align: justify">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;</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(2)</TD><TD STYLE="text-align: justify">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) 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</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 22.5pt">(3)</TD><TD STYLE="text-align: justify">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 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.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>SECTION 7.</B></TD><TD STYLE="text-align: justify"><B>LOST SECURITIES</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>SECTION 8.</B></TD><TD STYLE="text-align: justify"><B>SALVAGE</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"></P>

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    <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="font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></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: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 9.</B></TD><TD STYLE="text-align: justify"><B>NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL
LIABILITY</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 10.</B></TD><TD STYLE="text-align: justify"><B>MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES</B></TD>
</TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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) the applicable Limit of Liability under this
Bond, or (2) the maximum liability of the Underwriter under such other bonds or policies.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 11.</B></TD><TD STYLE="text-align: justify"><B>OTHER INSURANCE</B></TD>
</TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 12.</B></TD><TD STYLE="text-align: justify"><B>DEDUCTIBLE AMOUNT</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">No Deductible Amount shall apply to any
loss covered under Insuring Agreement A sustained by any Investment Company named as an Insured.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 13.</B></TD><TD STYLE="text-align: justify"><B>TERMINATION</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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) 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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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) business days of such detection, shall notify the Underwriter with full and complete particulars of the detected Dishonest or Fraudulent
Act(s).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 14.</B></TD><TD STYLE="text-align: justify"><B>RIGHTS AFTER TERMINATION</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</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"></P>

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    <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">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 15.</B></TD><TD STYLE="text-align: justify"><B>CENTRAL HANDLING OF SECURITIES</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">For determining the Insured&rsquo;s share
of such excess loss, (1) 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) 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) 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) so apportioned to the Insured by the Depository.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 16.</B></TD><TD STYLE="text-align: justify"><B>ADDITIONAL COMPANIES INCLUDED AS INSURED</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">If more than one entity is named as the
Insured:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">A.</TD><TD STYLE="text-align: justify">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,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">B.</TD><TD STYLE="text-align: justify">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) a copy of this Bond and any amendments thereto, (2) a copy of each formal filing of a claim hereunder
by any other Insured, and (3) notification of the terms of the settlement of each such claim prior to the execution of such settlement,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">C.</TD><TD STYLE="text-align: justify">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,</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">D.</TD><TD STYLE="text-align: justify">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,</TD></TR></TABLE>

<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"></P>

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    <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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">E.</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">F.</TD><TD STYLE="text-align: justify">each named Insured shall constitute &ldquo;the Insured&rdquo; for all purposes of this Bond.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 17.</B></TD><TD STYLE="text-align: justify"><B>NOTICE AND CHANGE OF CONTROL</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">A.</TD><TD STYLE="text-align: justify">the names of the transferors and transferees (or the names of the beneficial owners if the voting securities
are registered in another name), and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">B.</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">C.</TD><TD STYLE="text-align: justify">the total number of outstanding voting securities.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">As used in this Section, &ldquo;control&rdquo;
means the power to exercise a controlling influence over the management or policies of the Insured.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 18.</B></TD><TD STYLE="text-align: justify"><B>CHANGE OR MODIFICATION</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 19.</B></TD><TD STYLE="text-align: justify"><B>COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt 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%"></TD><TD STYLE="width: 1in; text-align: left"><B>SECTION 20.</B></TD><TD STYLE="text-align: justify"><B>ANTI-BUNDLING</B></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

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

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    <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: 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">03660122B</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, 2022</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, 2022 to July&nbsp;1, 2023</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="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><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">03660122B</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, 2022</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, 2022 to July&nbsp;1, 2023</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) in the case of a Non-Fund Insured substantially
all of whose business is rendering the services described in (1) above, the general business, activities or operations of such Non-Fund
Insured, <U>excluding</U> (a) the rendering of services (other than those described in (1) above) to any person, or (b) the sale of goods
or property of any kind.</P>

<P STYLE="font: 12pt 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">It is further understood and agreed that with
respect to any Non-Fund Insured, 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: 12pt 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">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="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><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">03660122B</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, 2022</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, 2022 to July&nbsp;1, 2023</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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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>

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    <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">03660122B</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, 2022</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, 2022 to July&nbsp;1, 2023</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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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>

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    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><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">03660122B</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, 2022</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, 2022 to July&nbsp;1, 2023</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>

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<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>

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  <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">03660122B</TD></TR>
  </TABLE>


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

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  <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, 2022</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, 2022 to July&nbsp;1, 2023</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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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="font: 12pt Times New Roman, Times, Serif; width: 100%; 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>

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<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>

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<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>

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




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<P STYLE="font: 12pt 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: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Risk Retention Group</B></P>

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



<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-top: Black 1pt solid; text-align: justify; width: 50%"><B>INSURED</B></TD>
  <TD STYLE="padding-right: 5.4pt; border-top: Black 1pt solid; text-align: right; width: 50%"><B>BOND NUMBER</B></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 0.5pt; text-align: justify; width: 50%"><B>Tekla Capital Management LLC</B></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 0.5pt; padding-right: 5.4pt; text-align: right; width: 50%"><B>03660122B</B></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="padding-top: 0.5pt; width: 40%"><B>EFFECTIVE DATE</B></TD><TD STYLE="padding-top: 0.5pt; width: 26%; text-align: left"><B>BOND PERIOD</B></TD><TD STYLE="padding-top: 0.5pt; padding-right: 5.4pt; text-align: right; width: 34%"><B>AUTHORIZED
                                            REPRESENTATIVE</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font-size: 12pt; vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 0.5pt; font-size: 12pt; width: 31%"><FONT STYLE="font-size: 14pt"><B>July 1, <FONT STYLE="font-family: Times New Roman, Times, Serif">2022</FONT></B></FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 0.5pt; font-size: 12pt; width: 36%; text-align: left"><FONT STYLE="font-size: 14pt"><B>July
                                            1, <FONT STYLE="font-family: Times New Roman, Times, Serif">2022 to </FONT>July 1, <FONT STYLE="font-family: Times New Roman, Times, Serif">2023</FONT></B></FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 0.5pt; padding-right: 20pt; font-size: 12pt; text-align: right; width: 33%"><FONT STYLE="font-size: 14pt"><B>/S/
                                            Catherine Dalton</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SOCIAL ENGINEERING FRAUD</B></P>

<P STYLE="font: 12pt 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 is amended by adding an additional Insuring Agreement M, as follows:</P>

<P STYLE="font: 12pt 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 0pt 0.25in; text-align: justify">M.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Social
Engineering Fraud</P>

<P STYLE="font: 12pt 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">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: 12pt 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">PROVIDED, that the entity receiving such request
generally maintains and follows during the Bond Period all Social Engineering Security Procedures.</P>

<P STYLE="font: 12pt 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">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) $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: 12pt 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">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: 12pt 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">This Insuring Agreement M does not cover loss
covered under any other Insuring Agreement of this Bond.</P>

<P STYLE="font: 12pt 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">It is further understood and agreed that for purposes
of this rider:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 27pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify">&ldquo;Communication&rdquo; means an instruction that (a) directs an Employee to transfer, pay, or deliver
money from the Insured&rsquo;s own account, (b) contains a material misrepresentation of fact, and (c) is relied upon by the Employee,
believing it to be true.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&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: 27pt"></TD><TD STYLE="width: 18pt">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: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 45pt"></TD><TD STYLE="width: 27pt">(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: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -27pt">&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: 45pt"></TD><TD STYLE="width: 27pt">(b)</TD><TD STYLE="text-align: justify">is made by an individual who purports to be (i) 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 45pt"></TD><TD STYLE="width: 27pt">(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: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&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: 27pt"></TD><TD STYLE="width: 18pt">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: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&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: 27pt"></TD><TD STYLE="width: 18pt">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: 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">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: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0"><FONT STYLE="font-size: 9pt">RN0054.0-00 (07/18)</FONT></P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"></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: 12pt 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">AGREEMENT made this 1st day of June 2022, 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 &#8220;Insured&#8221; and collectively the &#8220;Insureds&#8221;).</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 &#8220;Fund&#8221; and collectively
the &#8220;Funds&#8221;) is a management investment company registered under the Investment Company Act of 1940, as amended (the &#8220;1940
Act&#8221;); 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
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 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 (&#8220;TCM&#8221;); 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 &#8220;Bond&#8221;); 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)
the method by which the amount of coverage provided under the Bond will be determined from time to time and (2) 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"><U>Amount of Coverage Maintained</U>. 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) of Rule 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"><U>Allocation of Recovery</U>. 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 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"><U>Allocation of Premiums</U>. No premium shall
be paid by a Fund under the Bond unless such Fund&#8217;s Board of Trustees, including majority of those Trustees who are not &#8220;interested
persons&#8221; of the Fund, as defined by Section 2(a) (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>

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

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<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"><U>Amendment</U>. 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"><U>Filing with the Commission</U>. 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"><U>Applicable Law</U>. 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"><U>Limitations of Liability of Trustees and Shareholders</U>.
A copy of each Fund&#8217;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"><U>Term</U>. 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 CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 50%">Tekla Healthcare Investors</TD>
  <TD STYLE="text-align: justify; width: 50%">Tekla Life Sciences Investors</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 50%">By: /s/ Laura Woodward</TD>
  <TD STYLE="text-align: justify; width: 50%">By: /s/ Laura Woodward</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5.3%">Name:</TD><TD STYLE="width: 44.7%; text-align: left">Laura Woodward</TD>
    <TD STYLE="width: 5.3%">Name:</TD><TD STYLE="text-align: justify; width: 44.7%">Laura Woodward</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>Title:</TD><TD STYLE="text-align: left">Chief Compliance Officer</TD>
    <TD>Title:</TD><TD STYLE="text-align: justify">Chief
Compliance Officer</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">&nbsp;</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">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="font-size: 12pt; vertical-align: top">
  <TD STYLE="font-size: 12pt; width: 50%"><FONT STYLE="font-size: 12pt">Tekla Healthcare Opportunities Fund</FONT></TD>
  <TD STYLE="font-size: 12pt; width: 50%"><FONT STYLE="font-size: 12pt">Tekla World Healthcare Fund</FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 50%">By: /s/ Laura Woodward</TD>
  <TD STYLE="text-align: justify; width: 50%">By: /s/ Laura Woodward</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5.3%">Name:</TD><TD STYLE="width: 44.7%; text-align: left">Laura Woodward</TD>
    <TD STYLE="width: 5.3%">Name:</TD><TD STYLE="text-align: justify; width: 44.7%">Laura Woodward</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>Title:</TD><TD STYLE="text-align: left">Chief Compliance Officer</TD>
    <TD>Title:</TD><TD STYLE="text-align: justify">Chief
Compliance Officer</TD></TR>
     </TABLE>

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

<P STYLE="font: 9pt 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">&nbsp;</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">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Tekla Capital Management LLC</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">By: /s/ Daniel R. Omstead</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="font-size: 12pt; vertical-align: top">
  <TD STYLE="font-size: 12pt; width: 5.3%"><FONT STYLE="font-size: 12pt">Name:</FONT></TD>
  <TD STYLE="font-size: 12pt; width: 94.7%"><FONT STYLE="font-size: 12pt">Daniel R. Omstead</FONT></TD></TR>

<TR STYLE="font-size: 12pt; vertical-align: top">
  <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 12pt">Title:</FONT></TD>
  <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 12pt">President</FONT></TD></TR>
</TABLE>


<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"></P>

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<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"></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: 12pt 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">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">August 11, 2022</P>

<P STYLE="font: 12pt 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">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: 12pt 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; text-indent: 0">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 45pt; 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 45pt; 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 45pt; 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 45pt; text-align: justify">Tekla World Healthcare Fund (SEC File
Number 811-23037)</P>

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

<P STYLE="font: 12pt 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">Dear Sir/Madam:</P>

<P STYLE="font: 12pt 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">Pursuant to Rule 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 12pt; text-align: justify">Total Assets</TD><TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-size: 12pt; text-align: justify">Minimum Amount of</TD><TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 12pt; text-align: justify; border-bottom: Black 1pt solid">March 31, 2022</TD><TD STYLE="padding-bottom: 1pt; font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 12pt; text-align: justify">Single Insured Bond</TD><TD STYLE="padding-bottom: 1pt; font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 12pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 63%; font-size: 12pt; text-align: left">Tekla Healthcare Investors</TD><TD STYLE="width: 1%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 12pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 12pt; text-align: right">1,029,804,121</TD><TD STYLE="width: 1%; font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 12pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 12pt; text-align: right">1,250,000</TD>
    <TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 1%; font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: left">Tekla Life Sciences Investors</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">$</TD><TD STYLE="font-size: 12pt; text-align: right">448,411,235</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">$</TD><TD STYLE="font-size: 12pt; text-align: right">750,000</TD>
    <TD>&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: left">Tekla Healthcare Opportunities Fund</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">$</TD><TD STYLE="font-size: 12pt; text-align: right">1,218,858,838</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">$</TD><TD STYLE="font-size: 12pt; text-align: right">1,250,000</TD>
    <TD>&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: left">Tekla World Healthcare Fund</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">$</TD><TD STYLE="font-size: 12pt; text-align: right">679,499,911</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">900,000</TD>
    <TD>&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">$</TD><TD STYLE="font-size: 12pt; text-align: right">4,150,000</TD>
    <TD>&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>



<P STYLE="font: 12pt 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">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
1, 2022 to July 1, 2023.</P>

<P STYLE="font: 12pt 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">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 12pt 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">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Laura Woodward</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Laura Woodward</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chief Compliance Officer</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"></P>

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<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; text-align: center">TEKLA
HEALTHCARE INVESTORS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TEKLA
LIFE SCIENCES INVESTORS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">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 Calibri, Helvetica, Sans-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 9, 2022</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Pursuant to the foregoing notice, meetings of the
Boards of Trustees of Tekla Healthcare Investors (&#8220;HQH&#8221;), of Tekla Life Sciences Investors (&#8220;HQL&#8221;), of Tekla Healthcare
Opportunities Fund (&#8220;THQ&#8221;) and of Tekla World Healthcare Fund (&#8220;THW&#8221;) (each, a &#8220;Fund&#8221; and together,
the &#8220;Funds&#8221;) were held on June 9, 2022. Although the Boards participated together 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; text-indent: 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; text-indent: 0in">&nbsp;</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 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 &#8220;Covered Person&#8221; (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&#8217;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; text-indent: 0in"><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; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><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 all of the</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">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 Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><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; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><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 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; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 4in"></P>

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