<SEC-DOCUMENT>0001104659-23-087633.txt : 20230804
<SEC-HEADER>0001104659-23-087633.hdr.sgml : 20230804
<ACCEPTANCE-DATETIME>20230804110448
ACCESSION NUMBER:		0001104659-23-087633
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230804
DATE AS OF CHANGE:		20230804
EFFECTIVENESS DATE:		20230804

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:		231142677

	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:		231142679

	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:		231142678

	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:		231142680

	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>tm2322597d1_4017g.htm
<DESCRIPTION>40-17G
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1401 H St. NW&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington</FONT>,
DC 20005</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: 8pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Blanket Bond (05/23)</FONT></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">1401 H St. NW&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington</FONT><FONT STYLE="font-size: 10pt">,
DC 20005&nbsp;</FONT></P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-family: Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-top: 3pt; width: 6%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    1.</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; padding-top: 3pt; width: 32%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
    of Insured (the &ldquo;Insured&rdquo;)</FONT></TD><TD STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 3pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5pt; width: 32%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bond
    Number</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tekla
    Capital Management LLC</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>03660123B</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>

<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: left; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; width: 32%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal
    Office:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 32%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mailing
    Address:</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; text-align: left; text-indent: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100
    Federal Street, 19<SUP>th</SUP> Floor</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;100
    Federal Street, 19<SUP>th</SUP> Floor</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; text-align: left; text-indent: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boston,
    MA 02110</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Boston,
    MA 02110</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 5pt 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="text-align: left; font: bold 10pt Times New Roman, Times, Serif; vertical-align: top; width: 8%">Item 2.</TD>
    <TD STYLE="text-align: justify; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; width: 92%">Bond Period: from 12:01 a.m.&nbsp;on July&nbsp;1, 2023, to 12:01 a.m.&nbsp;on
    July&nbsp;1, 2024, or on the earlier effective date of the termination of this Bond, standard time at the Principal Office as to
    each of said dates.</TD></TR>
  </TABLE>


<P STYLE="font: 10pt 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>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10.5pt"><B>Item 3.</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limit of Liability&mdash;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to Sections 9, 10 and 12 hereof:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIMIT OF</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIABILITY</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEDUCTIBLE</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMOUNT</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement A-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FIDELITY</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement B-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AUDIT EXPENSE</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$50,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$5,000</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement C-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ON PREMISES</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement D-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN TRANSIT</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement E-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FORGERY OR ALTERATION</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement F-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITIES</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement G-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">COUNTERFEIT CURRENCY</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement H-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNCOLLECTIBLE ITEMS OF DEPOSIT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$5,000</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement I-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PHONE/ELECTRONIC TRANSACTIONS</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: justify; padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement J-</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">COMPUTER SECURITY</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4,150,000</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insuring Agreement M-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOCIAL ENGINEERING FRAUD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,000,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font-size: 5pt">
    <TD STYLE="font-size: 5pt; width: 8%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 20%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 38%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 17%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 17%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 0%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 4.</B></FONT></TD><TD STYLE="padding-left: 5.4pt; text-align: justify; width: 92%">Offices or Premises Covered--All the Insured&rsquo;s offices or other premises in existence at the time this Bond becomes effective are
covered under this Bond, except the offices or other premises excluded by Rider. Offices or other premises acquired or established after
the effective date of this Bond are covered subject to the terms of General Agreement A.</TD>
                                                                                                                                                     <TD STYLE="text-align: justify; width: 0%">&nbsp;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-top: Black 1pt solid; width: 0%"></TD><TD STYLE="border-top: Black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.</B></FONT></TD><TD STYLE="padding-left: 5.4pt; border-top: Black 1pt solid; text-align: justify; width: 92%"><P STYLE="margin-top: 0; margin-bottom: 0">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:</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
                                                                                                                                                     <TD STYLE="text-align: justify; width: 0%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font-size: 1pt; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2" STYLE="padding-left: 5.4pt; text-align: justify">Riders:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1-2-3-4-5-6-7</TD></TR>
                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2" STYLE="padding-left: 5.4pt; text-align: justify">and of all Riders applicable to this
Bond issued during the Bond Period.</TD></TR>
                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; width: 0%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 8%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 92%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
                              <TD STYLE="padding-bottom: 1pt; text-align: justify; width: 0%">&nbsp;</TD></TR>
                                                                          </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">/S/ Maggie Sullivan</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">/S/ Swenitha Nalli</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0.375in; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; padding-top: 2pt; text-align: left; text-indent: 0; width: 35%">Authorized Representative</TD>
    <TD STYLE="padding-top: 2pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0.125in; width: 22%">&nbsp;</TD><TD STYLE="padding-top: 2pt; font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 2pt; padding-left: 0.125in; text-align: left; width: 35%">Authorized Representative</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 2pt; padding-left: 0.125in; text-align: left; width: 0%">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Blanket Bond (05/23)</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><B>A.</B></TD><TD STYLE="text-align: justify"><B>FIDELITY</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">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.</TD></TR>
     </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt">&nbsp;</TD>
<TD STYLE="width: 27pt; text-align: left"><B>B.</B></TD><TD STYLE="text-align: justify"><B>AUDIT EXPENSE</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">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.</TD></TR>
     </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt">&nbsp;</TD>
<TD STYLE="width: 27pt; text-align: left"><B>C.</B></TD><TD STYLE="text-align: justify"><B>ON PREMISES</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">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.</TD></TR>
     </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><B>D.</B></TD><TD STYLE="text-align: justify"><B>IN TRANSIT</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">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.</TD></TR>
     </TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt"><B>E.</B></TD><TD><B>FORGERY OR ALTERATION</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">Loss resulting directly from the Insured
having, in good faith, paid or transferred any Property in reliance upon any Written, Original:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(1)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(2)</TD><TD STYLE="text-align: justify">instructions, requests or applications directed to the Insured, authorizing or acknowledging the transfer,
payment, redemption, delivery or receipt of money or Property, or giving notice of any bank account (provided such instructions or requests
or applications purport to have been signed or endorsed by (a)&nbsp;any customer of the Insured, or (b)&nbsp;any shareholder of or subscriber
to shares issued by any Investment Company, or (c)&nbsp;any financial or banking institution or stockbroker, and further provided such
instructions, requests, or applications either bear the forged signature or endorsement or have been altered without the knowledge and
consent of such customer, such shareholder or subscriber to shares issued by an Investment Company, or such financial or banking institution
or stockbroker); or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(3)</TD><TD STYLE="text-align: justify">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;</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 0pt 0.375in; text-align: justify">which bear (a)&nbsp;a Forgery, or (b)&nbsp;an
Alteration, but only to the extent that the Forgery or Alteration directly causes the loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.125in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">Actual physical possession by the Insured
or its authorized representative of the items listed in (1)&nbsp;through (3)&nbsp;above is a condition precedent to the Insured having
relied upon the items.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.125in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">This Insuring Agreement E does not cover
loss caused by Forgery or Alteration of Securities or loss covered under Insuring Agreement A.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt"><B>F.</B></TD><TD><B>SECURITIES</B></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 0pt 0.375in; text-align: justify">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:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(1)</TD><TD STYLE="text-align: justify">be Counterfeit, but only to the extent that the Counterfeit directly causes the loss, or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(2)</TD><TD STYLE="text-align: justify">be lost or stolen, or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(3)</TD><TD STYLE="text-align: justify">contain a Forgery or Alteration, but only to the extent the Forgery or Alteration directly causes the
loss,</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 0pt 0.375in; text-align: justify">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.</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"></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">This Insuring Agreement F does not cover
loss covered under Insuring Agreement A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">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.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>G.</B></FONT></TD><TD STYLE="text-align: justify"><B>COUNTERFEIT CURRENCY</B></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 0pt 0.375in; text-align: justify">Loss resulting directly from the receipt
by the Insured, in good faith of any Counterfeit Currency.</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 0pt 0.375in; text-align: justify">This Insuring Agreement G does not cover
loss covered under Insuring Agreement A.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><B>H.</B></TD><TD STYLE="text-align: justify"><B>UNCOLLECTIBLE ITEMS OF DEPOSIT</B></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 0pt 0.375in; text-align: justify">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</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(1)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(2)</TD><TD STYLE="text-align: justify">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;</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 0pt 0.375in; text-align: justify">PROVIDED, that (a)&nbsp;Items of Deposit
shall not be deemed uncollectible until the Insured&rsquo;s collection procedures have failed, (b)&nbsp;exchanges of shares between Funds
with exchange privileges shall be covered hereunder only if all such Funds are insured by the Underwriter for uncollectible Items of Deposit,
and (c)&nbsp;the Insured Fund shall have implemented and maintained a policy to hold Items of Deposit for the minimum number of days stated
in its Application (as amended from time to time) before paying any dividend or permitting any withdrawal with respect to such Items of
Deposit (other than exchanges between Funds). Regardless of the number of transactions between Funds in an exchange program, the minimum
number of days an Item of Deposit must be held shall begin from the date the Item of Deposit was first credited to any Insured Fund.</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 0pt 0.375in; text-align: justify">This Insuring Agreement H does not cover
loss covered under Insuring Agreement A.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt"><B>I.</B></TD><TD><B>PHONE/ELECTRONIC TRANSACTIONS</B></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 0pt 0.375in; text-align: justify">Loss resulting directly from a Phone/Electronic
Transaction, where the request for such Phone/Electronic Transaction:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(1)</TD><TD STYLE="text-align: justify">is transmitted to the Insured or its agents by voice over the telephone or by Electronic Transmission;
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(2)</TD><TD STYLE="text-align: justify">is made by an individual purporting to be a Fund shareholder or subscriber or an authorized agent of a
Fund shareholder or subscriber; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(3)</TD><TD STYLE="text-align: justify">is unauthorized or fraudulent and is made with the manifest intent to deceive;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">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</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"></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">EXCLUDING loss resulting from:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(1)</TD><TD STYLE="text-align: justify">the failure to pay for shares attempted to be purchased; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(2)</TD><TD STYLE="text-align: justify">any redemption of Investment Company shares which had been improperly credited to a shareholder&rsquo;s
account where such shareholder (a)&nbsp;did not cause, directly or indirectly, such shares to be credited to such account, and (b)&nbsp;directly
or indirectly received any proceeds or other benefit from such redemption; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(3)</TD><TD STYLE="text-align: justify">any redemption of shares issued by an Investment Company where the proceeds of such redemption were requested
(i)&nbsp;to be paid or made payable to other than an Authorized Recipient or an Authorized Bank Account or (ii)&nbsp;to be sent to other
than an Authorized Address;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(4)</TD><TD STYLE="text-align: justify">the intentional failure to adhere to one or more Phone/Electronic Transaction Security Procedures; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(5)</TD><TD STYLE="text-align: justify">a Phone/Electronic Transaction request transmitted by electronic mail or transmitted by any method not
subject to the Phone/Electronic Transaction Security Procedures; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">(6)</TD><TD STYLE="text-align: justify">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.</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 0pt 0.375in; text-align: justify">This Insuring Agreement I does not cover
loss covered under Insuring Agreement A, &ldquo;Fidelity&rdquo; or Insuring Agreement J, &ldquo;Computer Security&rdquo;.</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"><B>GENERAL AGREEMENTS</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt"><B>A.</B></TD><TD><B>ADDITIONAL OFFICES OR EMPLOYEES&mdash;CONSOLIDATION OR MERGER&mdash;NOTICE</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">1.</TD><TD STYLE="text-align: justify">Except as provided in paragraph 2 below, this Bond shall apply to any additional office(s)&nbsp;established
by the Insured during the Bond Period and to all Employees during the Bond Period, without the need to give notice thereof or pay additional
premiums to the Underwriter for the Bond Period.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">2.</TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><B>B.</B></TD><TD STYLE="text-align: justify"><B>WARRANTY</B></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 0pt 0.375in; text-align: justify">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.</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"></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><B>C.</B></TD><TD STYLE="text-align: justify"><B>COURT COSTS AND ATTORNEYS&rsquo; FEES</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.375in; text-align: justify">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:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">1.</TD><TD STYLE="text-align: justify">an Employee admits to having committed or is adjudicated to have committed a Dishonest or Fraudulent Act
which caused the loss; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.35in"></TD><TD STYLE="width: 22pt">2.</TD><TD STYLE="text-align: justify">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.</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 0pt 0.375in; text-align: justify">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.</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 0pt 0.375in; text-align: justify">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.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 0pt"></TD>
<TD STYLE="width: 27pt; text-align: left"><B>D.</B></TD><TD STYLE="text-align: justify"><B>INTERPRETATION</B></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 0pt 0.375in; text-align: justify">This Bond shall be interpreted with
due regard to the purpose of fidelity bonding under Rule&nbsp;17g-1 under the Investment Company Act of 1940 (i.e., to protect innocent
third parties from harm) and to the structure of the investment management industry (in which a loss of Property resulting from a cause
described in any Insuring Agreement ordinarily gives rise to a potential legal liability on the part of the Insured), such that the term
 &ldquo;loss&rdquo; as used herein shall include an Insured&rsquo;s legal liability for direct compensatory damages resulting directly
from a misappropriation, or measurable diminution in value, of Property.</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"></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: 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"><B>THIS BOND,&nbsp;INCLUDING THE FOREGOING INSURING
AGREEMENTS<BR>
AND GENERAL AGREEMENTS,&nbsp;IS SUBJECT TO THE FOLLOWING<BR>
PROVISIONS, CONDITIONS AND LIMITATIONS:</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SECTION&nbsp;1. DEFINITIONS</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 0pt 0.25in; text-align: justify; text-indent: -0.25in">The following
terms used in this Bond shall have the meanings stated in this Section:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Authorized Address&rdquo;</B> means (1)&nbsp;any Officially Designated address to which redemption
proceeds may be sent, (2)&nbsp;any address designated in writing (not to include Electronic Transmission) by the Shareholder of Record
and received by the Insured at least one (1)&nbsp;day prior to the effective date of such designation, or (3)&nbsp;any address designated
by voice over the telephone or by Electronic Transmission by the Shareholder of Record at least 15 days prior to the effective date of
such designation.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Authorized Bank Account&rdquo;</B> means any Officially Designated bank account to which redemption
proceeds may be sent.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Authorized Recipient&rdquo;</B> means (1)&nbsp;the Shareholder of Record, or (2)&nbsp;any other
Officially Designated person to whom redemption proceeds may be sent.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Computer System&rdquo;</B> means (1)&nbsp;computers with related peripheral components, including
storage components, (2)&nbsp;systems and applications software, (3)&nbsp;terminal devices, (4)&nbsp;related communications networks or
customer communication systems, and (5)&nbsp;related electronic funds transfer systems; by which data or monies are electronically collected,
transmitted, processed, stored or retrieved.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">G.</TD><TD STYLE="text-align: justify">&ldquo;<B>Convertible Virtual Currency&rdquo;</B> means Digital Assets that have an equivalent value in
real currency, or that act as a substitute for real currency, including, without limitation, stablecoins and other cryptocurrency.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">H.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">J.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">K.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Depository&rdquo;</B> means any &ldquo;securities depository&rdquo; (other than any foreign
securities depository) in which an Investment Company may deposit its Securities in accordance with Rule&nbsp;17f-4 under the Investment
Company Act of 1940.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">L.</TD><TD STYLE="text-align: justify"><B>&ldquo;Digital Assets&rdquo;</B> mean any digital representations of value which are recorded on cryptographically
secured distributed ledgers or any similar technology, including, without limitation, Convertible Virtual Currency and Non-Fungible Tokens.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">M.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Dishonest or Fraudulent Act&rdquo;</B> means any dishonest or fraudulent act, including &ldquo;larceny
and embezzlement&rdquo; as defined in Section&nbsp;37 of the Investment Company Act of 1940, committed with the conscious manifest intent
(1)&nbsp;to cause the Insured to sustain a loss and (2)&nbsp;to obtain an improper financial benefit for the perpetrator or any other
person or entity. A Dishonest or Fraudulent Act does not mean or include a reckless act, a negligent act, or a grossly negligent act.
As used in this definition, &ldquo;improper financial benefit&rdquo; does not include any employee benefits received in the course of
employment, including salaries, commissions, fees, bonuses, promotions, awards, profit sharing or pensions.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">O.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Employee&rdquo;</B> means:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(1)</TD><TD STYLE="text-align: justify">each officer, director, trustee, partner or employee of the Insured, and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(2)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(3)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(4)</TD><TD STYLE="text-align: justify">each student who is an authorized intern of the Insured, while in any of the Insured&rsquo;s offices,
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(5)</TD><TD STYLE="text-align: justify">each officer, director, trustee, partner or employee of</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(a)</TD><TD STYLE="text-align: justify">an investment adviser,</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(b)</TD><TD STYLE="text-align: justify">an underwriter (distributor),</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(c)</TD><TD STYLE="text-align: justify">a transfer agent or shareholder accounting recordkeeper, or</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(d)</TD><TD STYLE="text-align: justify">an administrator authorized by written agreement to keep financial and/or other required records,</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 0pt 0.75in; text-align: justify">for an Investment Company named as
an Insured, BUT ONLY while (i)&nbsp;such officer, partner or employee is performing acts coming within the scope of the usual duties of
an officer or employee of an Insured, or (ii)&nbsp;such officer, director, trustee, partner or employee is acting as a member of any committee
duly elected or appointed to examine or audit or have custody of or access to the Property of the Insured, or (iii)&nbsp;such director
or trustee (or anyone acting in a similar capacity) is acting outside the scope of the usual duties of a director or trustee; PROVIDED,
that the term &ldquo;Employee&rdquo; shall not include any officer, director, trustee, partner or employee of a transfer agent, shareholder
accounting recordkeeper or administrator (x)&nbsp;which is not an &ldquo;affiliated person&rdquo; (as defined in Section&nbsp;2(a)&nbsp;of
the Investment Company Act of 1940) of an Investment Company named as an Insured or of the adviser or underwriter of such Investment Company,
or (y)&nbsp;which is a &ldquo;Bank&rdquo; (as defined in Section&nbsp;2(a)&nbsp;of the Investment Company Act of 1940), and</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"></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(6)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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)&nbsp;hereof, and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(8)</TD><TD>each officer, partner or employee of</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(a)</TD><TD>any Depository or Exchange,</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(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>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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&nbsp;3
of the Employee Retirement Income Security Act of 1974 (&ldquo;ERISA&rdquo;)) for officers, directors or employees of another Insured
(&ldquo;In-House Plan&rdquo;), any &ldquo;fiduciary&rdquo; or other &ldquo;plan official&rdquo; (within the meaning of Section&nbsp;412
of ERISA) of such In-House Plan, provided that such fiduciary or other plan official is a director, partner, officer, trustee or employee
of an Insured (other than an In-House Plan).</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 0pt 0.4in; text-align: justify">Each employer of temporary personnel
and each entity referred to in subsections (6)&nbsp;and (7)&nbsp;and their respective partners, officers and employees shall collectively
be deemed to be one person for all the purposes of this Bond.</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 0pt 0.4in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Exchange&rdquo;</B> means any national securities exchange registered under the Securities Exchange
Act of 1934.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Q.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">R.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Items of Deposit&rdquo;</B> means one or more checks or drafts.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Investment Company&rdquo;</B> or <B>&ldquo;Fund&rdquo;</B> means an investment company registered
under the Investment Company Act of 1940.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">T.</FONT></TD><TD STYLE="text-align: justify"><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.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Mysterious Disappearance&rdquo;</B> means any disappearance of Property which, after a reasonable
investigation has been conducted, cannot be explained.</TD></TR></TABLE>



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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">V.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Non-Fund&rdquo;</B> means any corporation, business trust, partnership, trust or other entity
which is not an Investment Company.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">W.</TD><TD STYLE="text-align: justify"><B>&ldquo;Non-Fungible Tokens&rdquo;</B> mean Digital Assets that are unique digital identifiers that
are recorded on cryptographically secured distributed ledgers or any similar technology, and that are used to certify authenticity and/or
ownership of unique assets that cannot be traded, divided, or exchanged at equivalency.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">X.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Officially Designated&rdquo;</B> means designated by the Shareholder of Record:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(1)</TD><TD STYLE="text-align: justify">in the initial account application,</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(2)</TD><TD STYLE="text-align: justify">in writing accompanied by a signature guarantee, or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Y.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Original&rdquo;</B> means the first rendering or archetype and does not include photocopies
or electronic transmissions even if received and printed.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Z.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Phone/Electronic Transaction&rdquo;</B> means any (1)&nbsp;redemption of shares issued by an
Investment Company, (2)&nbsp;election concerning dividend options available to Fund shareholders, (3)&nbsp;exchange of shares in a registered
account of one Fund into shares in an identically registered account of another Fund in the same complex pursuant to exchange privileges
of the two Funds, or (4)&nbsp;purchase of shares issued by an Investment Company, which redemption, election, exchange or purchase is
requested by voice over the telephone or through an Electronic Transmission.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AA.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BB.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Property&rdquo;</B> means the following tangible items: money, postage and revenue stamps, precious
metals, Securities, bills of exchange, acceptances, checks, drafts, or other written orders or directions to pay sums certain in money,
certificates of deposit, due bills, money orders, letters of credit, financial futures contracts, conditional sales contracts, abstracts
of title, insurance policies, deeds, mortgages, and assignments of any of the foregoing, and other valuable papers, including books of
account and other records used by the Insured in the conduct of its business, and all other instruments similar to or in the nature of
the foregoing (but excluding all data processing records), (1)&nbsp;in which the Insured has a legally cognizable interest, (2)&nbsp;in
which the Insured acquired or should have acquired such an interest by reason of a predecessor&rsquo;s declared financial condition at
the time of the Insured&rsquo;s consolidation or merger with, or purchase of the principal assets of, such predecessor or (3)&nbsp;which
are held by the Insured for any purpose or in any capacity.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CC.</FONT></TD><TD STYLE="text-align: justify"><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, </TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 263.25pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">&nbsp;</TD><TD STYLE="text-align: justify">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.</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DD.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EE.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FF.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Shareholder of Record&rdquo;</B> means the record owner of shares issued by an Investment Company
or, in the case of joint ownership of such shares, all record owners, as designated (1)&nbsp;in the initial account application, or (2)&nbsp;in
writing accompanied by a signature guarantee, or (3)&nbsp;pursuant to procedures as set forth in the Application and/or as otherwise provided
in writing to the Underwriter.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">GG.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Single Loss&rdquo;</B> means:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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)&nbsp;above.</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 0pt 0.4in; 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)&nbsp;and (2)&nbsp;above of any other person shall be deemed to be the acts of such other person for purposes of this subsection.</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 0pt 0.4in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HH.</FONT></TD><TD STYLE="text-align: justify"><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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">II.</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Written&rdquo;</B> means expressed through letters or marks placed upon paper and visible to
the eye.</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; text-align: justify"><B>SECTION&nbsp;2. EXCLUSIONS</B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">A.</TD><TD STYLE="text-align: justify">Loss resulting from (1)&nbsp;riot or civil commotion outside the United States of America and Canada,
or (2)&nbsp;war, revolution, insurrection, action by armed forces, or usurped power, wherever occurring; except if such loss occurs while
the Property is in transit, is otherwise covered under Insuring Agreement D, and when such transit was initiated, the Insured or any person
initiating such transit on the Insured&rsquo;s behalf had no knowledge of such riot, civil commotion, war, revolution, insurrection, action
by armed forces, or usurped power.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">B.</TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">C.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">D.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">E.</TD><TD STYLE="text-align: justify">Loss resulting from any violation by the Insured or by any Employee of any law, or any rule&nbsp;or regulation
pursuant thereto or adopted by a Self-Regulatory Organization, regulating the issuance, purchase or sale of securities, securities transactions
upon security exchanges or over the counter markets,&nbsp;Investment Companies, or investment advisers, unless such loss, in the absence
of such law, rule&nbsp;or regulation, would be covered under Insuring Agreement A, E, or F.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">F.</TD><TD STYLE="text-align: justify">Loss resulting from Property that is the object of a Dishonest or Fraudulent Act or Mysterious Disappearance
while in the custody of any Security Company, unless such loss is covered under this Bond and is in excess of the amount recovered or
received by the Insured under (1)&nbsp;the Insured&rsquo;s contract with such Security Company, and (2)&nbsp;insurance or indemnity of
any kind carried by such Security Company for the benefit of, or otherwise available to, users of its service, in which case this Bond
shall cover only such excess, subject to the applicable Limit of Liability and Deductible Amount.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">G.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">H.</TD><TD STYLE="text-align: justify">Loss in the form of (1)&nbsp;damages of any type for which the Insured is legally liable, except direct
compensatory damages, or (2)&nbsp;taxes, fines, or penalties, including without limitation two-thirds of treble damage awards pursuant
to judgments under any statute or regulation.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">I.</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.35in">(2)</TD><TD STYLE="text-align: justify">to do damage to the premises or Property of the Insured,</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 0pt 0.4in; text-align: justify">unless such loss
is otherwise covered under Insuring Agreement A.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">J.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">K.</TD><TD STYLE="text-align: justify">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.</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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    <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; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">L.</TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">M.</TD><TD STYLE="text-align: justify">Loss resulting from the Dishonest or Fraudulent Acts or other acts or omissions of an Employee primarily
engaged in the sale of shares issued by an Investment Company to persons other than (1)&nbsp;a person registered as a broker under the
Securities Exchange Act of 1934 or (2)&nbsp;an &ldquo;accredited investor&rdquo; as defined in Rule&nbsp;501(a)&nbsp;of Regulation D under
the Securities Act of 1933, which is not an individual.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">N.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">O.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">P.</TD><TD STYLE="text-align: justify">Loss resulting from any Dishonest or Fraudulent Act or committed by an Employee as defined in Section&nbsp;1.O(2),
unless such loss (1)&nbsp;could not have been reasonably discovered by the due diligence of the Insured at or prior to the time of acquisition
by the Insured of the assets acquired from a predecessor, and (2)&nbsp;arose out of a lawsuit or valid claim brought against the Insured
by a person unaffiliated with the Insured or with any person affiliated with the Insured.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">Q.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">R.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">S.</TD><TD STYLE="text-align: justify">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.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">T.</TD><TD STYLE="text-align: justify">Loss resulting from vandalism or malicious mischief.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 27pt">U.</TD><TD STYLE="text-align: justify">Loss resulting from the theft, disappearance, or destruction of Digital Assets or from the change in value
of Digital Assets, unless such loss (1)&nbsp;is sustained by any investment company registered under the Investment Company Act of 1940
that is named as an Insured and (2)&nbsp;is otherwise covered under Insuring Agreement A.</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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    <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; margin: 0pt 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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: 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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECTION&nbsp;4.
LOSS</B></FONT><FONT STYLE="font-size: 12pt">&mdash;</FONT><B>NOTICE</B><FONT STYLE="font-size: 12pt">&mdash;</FONT><B>PROOF</B><FONT STYLE="font-size: 12pt">&mdash;</FONT><B>LEGAL
PROCEEDINGS</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(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)&nbsp;and (2), their value shall be fixed by agreement between the parties or by arbitration before an arbitrator
or arbitrators acceptable to the parties; and</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(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&nbsp;or other materials if the books or records are reproduced plus the cost
of labor for the transcription or copying of data furnished by the Insured for reproduction.</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 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;7. LOST SECURITIES</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 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 </FONT>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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>SECTION&nbsp;9.&#9;NON-REDUCTION AND
NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;10.&#9;MAXIMUM LIABILITY
OF UNDERWRITER; OTHER BONDS OR POLICIES</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 0pt 0.5in; 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)&nbsp;the applicable Limit of Liability under
this Bond, or (2)&nbsp;the maximum liability of the Underwriter under such other bonds or policies.</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: justify"><B>SECTION&nbsp;11.&#9;OTHER
INSURANCE</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 0pt 0.5in; 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: 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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    <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; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;12.&#9;DEDUCTIBLE AMOUNT&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 263.25pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;13.&#9;TERMINATION</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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)&nbsp;the filing of a petition under any State or Federal statute relative
to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of the Insured.</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;14.&#9;RIGHTS AFTER
TERMINATION</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;15.&#9;CENTRAL HANDLING
OF SECURITIES</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;16.&#9;ADDITIONAL COMPANIES
INCLUDED AS INSURED</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 0pt 0.5in; text-align: justify">If more than one entity is named as
the Insured:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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)&nbsp;a copy of this Bond and any amendments thereto, (2)&nbsp;a copy of each </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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    <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; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="text-align: justify"> formal filing of a claim
hereunder by any other Insured, and (3)&nbsp;notification of the terms of the settlement of each such claim prior to the execution of
such settlement,</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;17.&#9;NOTICE AND CHANGE
OF CONTROL</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 0pt 0.5in; 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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">C.</TD><TD STYLE="text-align: justify">the total number of outstanding voting securities.</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;18.&#9;CHANGE OR MODIFICATION</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 0pt 0.5in; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;19.&#9;COMPLIANCE WITH
APPLICABLE TRADE AND ECONOMIC SANCTIONS</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 0pt 0.5in; 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: 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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>SECTION&nbsp;20.&#9;ANTI-BUNDLING</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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: 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: justify">IN WITNESS WHEREOF, the Underwriter has caused
this Bond to be executed on the Declarations Page.</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"></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

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

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&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>

<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="border-top: Black 1pt solid; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>INSURED</B></FONT></TD><TD STYLE="padding-right: 0.15in; border-top: Black 1pt solid; text-align: right; width: 50%"><FONT STYLE="font-size: 8pt"><B>BOND NUMBER</B></FONT></TD>
</TR></TABLE>

<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">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Tekla Capital Management LLC</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 12pt"><B>03660123B</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EFFECTIVE DATE</B></FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>BOND PERIOD</B></FONT></TD>
  <TD STYLE="padding-right: 0.15in; text-align: right"><FONT STYLE="font-size: 8pt"><B>AUTHORIZED REPRESENTATIVE</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt 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: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>July&nbsp;1, 2023</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 38%"><B><FONT STYLE="font-size: 12pt">July&nbsp;1, 2023 to July&nbsp;1, 2024</FONT></B></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 0.4in; text-align: right; width: 36%"><B><FONT STYLE="font-size: 12pt">/S/ Maggie Sullivan</FONT></B></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">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">&nbsp;</P>

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

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

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

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

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

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

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

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&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>

<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="border-top: Black 1pt solid; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>INSURED</B></FONT></TD><TD STYLE="border-top: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 8pt"><B>BOND NUMBER</B></FONT></TD>
</TR></TABLE>

<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">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Tekla Capital Management LLC</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 12pt"><B>03660123B</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EFFECTIVE DATE</B></FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>BOND PERIOD</B></FONT></TD>
  <TD STYLE="padding-right: 0.15in; text-align: right"><FONT STYLE="font-size: 8pt"><B>AUTHORIZED REPRESENTATIVE</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>July&nbsp;1, 2023</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 38%"><B><FONT STYLE="font-size: 12pt">July&nbsp;1, 2023 to July&nbsp;1, 2024</FONT></B></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 0.4in; text-align: right; width: 36%"><B><FONT STYLE="font-size: 12pt">/S/ Maggie Sullivan</FONT></B></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">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that this Bond (other than Insuring Agreements C and D) does not cover loss resulting from or
in connection with any business, activities, or acts or omissions of (including services rendered by) any Insured which is <U>not</U>
an Insured Fund (&ldquo;Non-Fund Insured&rdquo;) or any Employee of a Non-Fund Insured, <U>except</U> loss, otherwise covered by the terms
of this Bond, resulting from or in connection with (1)&nbsp;services rendered by a Non-Fund Insured to an Insured Fund, or to shareholders
of such Fund in connection with the issuance, transfer, or redemption of their Fund shares, or (2)&nbsp;in the case of a Non-Fund Insured
substantially all of whose business is rendering the services described in (1)&nbsp;above, the general business, activities or operations
of such Non-Fund Insured, <U>excluding</U> (a)&nbsp;the rendering of services (other than those described in (1)&nbsp;above) to any person,
or (b)&nbsp;the sale of goods or property of any kind.</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&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: 2pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&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>

<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="border-top: Black 1pt solid; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>INSURED</B></FONT></TD><TD STYLE="border-top: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 8pt"><B>BOND NUMBER</B></FONT></TD>
</TR></TABLE>

<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">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Tekla Capital Management LLC</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 12pt"><B>03660123B</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EFFECTIVE DATE</B></FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>BOND PERIOD</B></FONT></TD>
  <TD STYLE="padding-right: 0.15in; text-align: right"><FONT STYLE="font-size: 8pt"><B>AUTHORIZED REPRESENTATIVE</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>July&nbsp;1, 2023</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 38%"><B><FONT STYLE="font-size: 12pt">July&nbsp;1, 2023 to July&nbsp;1, 2024</FONT></B></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 0.4in; text-align: right; width: 36%"><B><FONT STYLE="font-size: 12pt">/S/ Maggie Sullivan</FONT></B></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">In consideration of the premium charged for this
Bond, it is hereby understood and agreed that the Deductible Amount for Insuring Agreement E, Forgery or Alteration, and Insuring Agreement
F, Securities, shall not apply with respect to loss through Forgery of a signature on the following documents:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(1)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">letter requesting redemption of $25,000 or less payable by check to the Shareholder of Record and sent
to an Authorized Address; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(2)</TD><TD STYLE="padding-right: 0.25in; text-align: justify">letter requesting redemption of $25,000 or less by wire transfer to the Shareholder of Record of an Authorized
Bank Account; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>provided</U></FONT>,
that the Limit of Liability for a Single Loss as described above shall be $25,000 and that the Insured shall bear 20% of each such loss.
This Rider shall not apply in the case of any such Single Loss which exceeds $25,000; in such case the Deductible Amounts and Limits of
Liability set forth in Item 3 of the Declarations shall control.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(A)</TD><TD STYLE="text-align: justify">&ldquo;Designated Retirement Account&rdquo; means any retirement plan or account described or qualified
under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.4in">(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: 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: 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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    <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; 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: 2pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&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>

<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="border-top: Black 1pt solid; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>INSURED</B></FONT></TD><TD STYLE="border-top: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 8pt"><B>BOND NUMBER</B></FONT></TD>
</TR></TABLE>

<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">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Tekla Capital Management LLC</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 12pt"><B>03660123B</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EFFECTIVE DATE</B></FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>BOND PERIOD</B></FONT></TD>
  <TD STYLE="padding-right: 0.15in; text-align: right"><FONT STYLE="font-size: 8pt"><B>AUTHORIZED REPRESENTATIVE</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>July&nbsp;1, 2023</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 38%"><B><FONT STYLE="font-size: 12pt">July&nbsp;1, 2023 to July&nbsp;1, 2024</FONT></B></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 0.4in; text-align: right; width: 36%"><B><FONT STYLE="font-size: 12pt">/S/ Maggie Sullivan</FONT></B></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">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" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">(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" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">(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" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">(1)</TD><TD STYLE="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" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 27pt">(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: 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">&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>

<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: 2pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&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>

<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="border-top: Black 1pt solid; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>INSURED</B></FONT></TD><TD STYLE="border-top: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 8pt"><B>BOND NUMBER</B></FONT></TD>
</TR></TABLE>

<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">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Tekla Capital Management LLC</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 12pt"><B>03660123B</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EFFECTIVE DATE</B></FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>BOND PERIOD</B></FONT></TD>
  <TD STYLE="padding-right: 0.15in; text-align: right"><FONT STYLE="font-size: 8pt"><B>AUTHORIZED REPRESENTATIVE</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>July&nbsp;1, 2023</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 38%"><B><FONT STYLE="font-size: 12pt">July&nbsp;1, 2023 to July&nbsp;1, 2024</FONT></B></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 0.4in; text-align: right; width: 36%"><B><FONT STYLE="font-size: 12pt">/S/ Maggie Sullivan</FONT></B></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">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">&nbsp;</P>

<P STYLE="font: 10pt 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: 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: 2pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 2pt">&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>

<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="border-top: Black 1pt solid; width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>INSURED</B></FONT></TD><TD STYLE="border-top: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 8pt"><B>BOND NUMBER</B></FONT></TD>
</TR></TABLE>

<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">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Tekla Capital Management LLC</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.15in; text-align: right; width: 50%"><FONT STYLE="font-size: 12pt"><B>03660123B</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EFFECTIVE DATE</B></FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>BOND PERIOD</B></FONT></TD>
  <TD STYLE="padding-right: 0.15in; text-align: right"><FONT STYLE="font-size: 8pt"><B>AUTHORIZED REPRESENTATIVE</B></FONT></TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>July&nbsp;1, 2023</B></FONT></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 38%"><B><FONT STYLE="font-size: 12pt">July&nbsp;1, 2023 to July&nbsp;1, 2024</FONT></B></TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 0.4in; text-align: right; width: 36%"><B><FONT STYLE="font-size: 12pt">/S/ Maggie Sullivan</FONT></B></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">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="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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-family: Times New Roman, Times, Serif; 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" 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">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" 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">&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" 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">(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.GG 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: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">RN0019.0-04 (05/23)</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"></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: 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: 1pt 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>a Risk Retention Group</B></P>

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIDER NO. 7</B></P>

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

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

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; padding-top: 1pt; padding-left: 4pt; font: bold 8pt Times New Roman, Times, Serif; width: 48%; text-align: left">INSURED</TD><TD STYLE="border-top: Black 1pt solid; padding-top: 1pt; font: bold 8pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="border-top: Black 1pt solid; padding-top: 1pt; font: bold 8pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 1pt; font: bold 8pt Times New Roman, Times, Serif; padding-right: 7pt; width: 50%; text-align: right">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="padding-left: 4pt; border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; width: 90%; text-align: left; padding-bottom: 1pt">Tekla Capital Management LLC</TD>
    <TD STYLE="padding-right: 7pt; border-bottom: Black 1pt solid; font: bold 12pt Times New Roman, Times, Serif; width: 10%; text-align: right">03660123B</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="padding-top: 1pt; padding-left: 4pt; width: 35%; font: bold 8pt Times New Roman, Times, Serif; text-align: left">EFFECTIVE DATE</TD>
    <TD STYLE="padding-top: 1pt; font: bold 8pt Times New Roman, Times, Serif; width: 30%; text-align: center"><FONT STYLE="font-size: 8pt">BOND
PERIOD</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-right: 7pt; font: bold 8pt Times New Roman, Times, Serif; width: 35%; text-align: right">AUTHORIZED REPRESENTATIVE</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 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-left: 4pt; width: 35%; text-align: left">July&nbsp;1, 2023</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; width: 30%; text-align: center"><FONT STYLE="font-size: 12pt">July&nbsp;1,
2023 to July&nbsp;1, 2024</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 12pt Times New Roman, Times, Serif; padding-right: 20pt; width: 35%; text-align: right">/S/ Maggie Sullivan</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: center"><B>SOCIAL ENGINEERING FRAUD</B></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">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</FONT>, as follows:</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 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">M.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 12pt">Social
Engineering Fraud</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loss
resulting directly from the Insured, in good faith, transferring, paying, or delivering money </FONT>from its own account as a direct
result of a Social Engineering Fraud;</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PROVIDED, that the entity receiving such request
generally maintains and follows during the Bond Period all Social Engineering Security Procedures.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">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)</FONT>&nbsp;$1,000,000 (One Million Dollars) or limit, and the Insured shall bear the remainder
of any such Single Loss. The Deductible Amount for this Insuring Agreement M is $25,000 (Twenty-Five Thousand Dollars).</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding</FONT>
any other provision of this Bond, the aggregate Limit of Liability under this Bond with respect to any and all loss or losses under this
Insuring Agreement M shall be $1,000,000 (One Million Dollars) for the Bond Period, irrespective of the total amount of such loss or losses.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Insuring Agreement M does not cover loss
covered under any other Insuring Agreement of this Bond.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is further understood and agreed that for purposes
of this rider:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Communication&rdquo; means an instruction
that (a)&nbsp;directs an Employee to transfer, pay, or deliver money from the Insured&rsquo;s own account</FONT>, (b)&nbsp;contains a
material misrepresentation of fact, and (c)&nbsp;is relied upon by the Employee, believing it to be true.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">&ldquo;Social Engineering Fraud&rdquo; means the intentional misleading of an Employee through the use
of a Communication, where such Communication:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.3in">(a)</TD><TD STYLE="text-align: justify">is transmitted to the Employee in writing, by voice over the telephone, or by Electronic Transmission;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">is made by an individual </FONT>who purports
to be (i)&nbsp;an Employee who is duly authorized by the Insured to instruct another Employee to transfer, pay, or deliver money, or (ii)&nbsp;an
officer or employee of a Vendor who is duly authorized by the Insured to instruct an Employee to transfer, pay, or deliver money; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">is unauthorized</FONT>, dishonest or fraudulent
and is made with the manifest intent to deceive.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">&ldquo;Social Engineering Security Procedures&rdquo; means security procedures intended to prevent Social
Engineering Fraud as set forth in the Application and/or as otherwise provided in writing to the Underwriter.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Vendor&rdquo; means any entity or individual
that </FONT>provides goods or services to the Insured under a pre-existing, written agreement.</TD></TR></TABLE>

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

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

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

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

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<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"><U>Fidelity Bond Agreement</U></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AGREEMENT made this 1st day of June&nbsp;2023,
by and among Tekla Healthcare Investors, Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund, Tekla World Healthcare Fund
and Tekla Capital Management LLC (each an &ldquo;Insured&rdquo; and collectively the &ldquo;Insureds&rdquo;).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, each of among Tekla Healthcare Investors,
Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund and Tekla World Healthcare Fund (each a &ldquo;Fund&rdquo; and collectively
the &ldquo;Funds&rdquo;) is a management investment company registered under the Investment Company Act of 1940, as amended (the &ldquo;1940
Act&rdquo;); and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, pursuant to the requirements of Rule&nbsp;17g-1
under the 1940 Act, each Fund is required to maintain a fidelity bond against larceny and embezzlement covering certain of its officers
and employees; and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, Rule&nbsp;17g-1 provides that a registered
management investment company may obtain a joint insured bond covering itself and one or more other registered investment companies which
are managed by the same persons and one or more other parties, provided that each such other party is engaged in the management or distribution
of the shares of such registered investment companies; and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, each Fund is managed by Tekla Capital
Management LLC (&ldquo;TCM&rdquo;); and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, the Insureds have entered into a joint
insured bond issued by ICIM Services (the &ldquo;Bond&rdquo;); and</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, the Insureds desire to provide for: (1)&nbsp;the
method by which the amount of coverage provided under the Bond will be determined from time to time and (2)&nbsp;an equitable and proportionate
allocation of any proceeds received under the Bond in the event that one or more Insureds suffer loss and consequently are entitled to
recover under the Bond;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOW THEREFORE, it is hereby agreed among the parties
hereto as follows:</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Amount
of Coverage Maintained</U></FONT>. The amount of fidelity coverage under the Bond shall at all times be at least equal in the amount to
the total amount of coverage which each Fund would have been required to provide and maintain individually pursuant to the schedule set
forth in paragraph (d)&nbsp;of Rule&nbsp;17g-1 under the 1940 Act had each Fund not been a named insured under the Bond.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Allocation
of Recovery</U></FONT>. In the event recovery is received under the Bond as a result of loss sustained by one or more of the Funds and
TCM, each Fund shall receive an equitable and proportionate share of the recovery which shall be at least equal to the amount which each
Fund would have received had it provided and maintained a single insured bond with the minimum coverage required by Rule&nbsp;17g-1(d)(1).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Allocation
of Premiums</U></FONT>. No premium shall be paid by a Fund under the Bond unless such Fund&rsquo;s Board of Trustees, including majority
of those Trustees who are not &ldquo;interested persons&rdquo; of the Fund, as defined by Section&nbsp;2(a)&nbsp;(19) of the 1940 Act,
shall approve the portion of the premium to be paid by such Fund.</P>

<P STYLE="font: 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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    <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: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Amendment</U></FONT>.
This Agreement may not be amended or modified in any manner except by a written agreement executed by the parties.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Filing
with the Commission</U></FONT>. A copy of this Agreement and any amendment thereto shall be filed with the Securities and Exchange Commission
within 10 days after the execution thereof.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Applicable
Law</U></FONT>. This Agreement shall be construed and the provisions thereof interpreted under and in accordance with the laws of the
Commonwealth of Massachusetts.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Limitations
of Liability of Trustees and Shareholders</U></FONT>. A copy of each Fund&rsquo;s Declaration of Trust is on file with the Secretary of
State of the Commonwealth of Massachusetts, and it is hereby agreed that this Agreement is executed on behalf of the Board of Trustees
of each Fund as Trustees and not individually and that the obligations of this Agreement are not binding upon any of the Trustees, officers
or shareholders of either Fund individually but are binding only upon the assets and property of each Fund.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><U>Term</U></FONT>.
The term of this Agreement shall commence on the date hereof and shall terminate upon the termination or cancellation of the Bond.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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: 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 COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Tekla
    Healthcare Investors</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Tekla
    Life Sciences Investors</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By:
    /s/Laura Woodward</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By:
    /s/Laura Woodward</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 44%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Laura
    Woodward</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 44%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Laura
    Woodward</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief
    Compliance Officer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief
    Compliance Officer</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">&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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif">Tekla Healthcare Opportunities Fund</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif">Tekla World Healthcare Fund</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif">By: /s/Laura Woodward</TD>
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif">By: /s/Laura Woodward</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 6%">Name:</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 44%">Laura Woodward</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 6%">Name:</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; width: 44%">Laura Woodward</TD></TR>
  <TR STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">Chief Compliance Officer</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">Chief Compliance Officer</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">&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: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Tekla Capital Management LLC</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">By: /s/Daniel R. Omstead</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Name:</FONT>&nbsp;&nbsp;<FONT STYLE="font-size: 12pt">Daniel
R. Omstead</FONT></P>

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

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<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">Tekla Capital Management LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 Federal Street, 19<SUP>th</SUP> Floor</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Boston, MA 02110</P>

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

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

<P STYLE="font: 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">August&nbsp;1, 2023</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, NE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, DC 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Att: &nbsp;The Office of Filings and Information Services</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">RE: &nbsp;Statement
of the amount of a single insured bond and period for which premiums have been paid for:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Healthcare Investors (SEC File
Number 811-04889)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Life Sciences Investors (SEC
File Number 811-06565)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla Healthcare Opportunities Fund
(SEC File Number 811-22955)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Tekla World Healthcare Fund (SEC File
Number 811-23037)</P>

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

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Pursuant to Rule&nbsp;17g-1 under the
Investment Company Act of 1940, please find the following statement showing the amount of the single insured bond which the investment
company would have provided and maintained had it not been named as an insured under a joint insured bond:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Total
    Assets</FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; white-space: nowrap; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Minimum Amount
    of</FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><U>March&nbsp;31,
    2023</U></FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; white-space: nowrap; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><U>Single
    Insured Bond</U></FONT></TD><TD STYLE="text-align: left; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 61%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla
    Healthcare Investors</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">990,763,738</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">1,000,000</FONT></TD>
                                                                                                                                                                             <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 8%; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla
    Life Sciences Investors</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">432,689,116</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">750,000</FONT></TD>
                                                                                                                                                                  <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla
    Healthcare Opportunities Fund</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">1,100,610,126</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">1,250,000</FONT></TD>
                                                                                                                                                                  <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Tekla
    World Healthcare Fund</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">607,180,057</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">900,000</FONT></TD>
                                                                                                                                                                                                  <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">3,900,000</TD>
                                                                                 <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>



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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The premiums have been paid for Tekla Healthcare
Investors, Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund and Tekla World Healthcare fund for the period from July&nbsp;1,
2023 to July&nbsp;1, 2024.</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: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</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: 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: 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"></P>

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<P STYLE="font: 10pt 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">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: 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">Minutes of the Meetings of the Boards of Trustees</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">June&nbsp;8, 2023</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">Pursuant to the foregoing notice, meetings of the Boards of Trustees
of Tekla Healthcare Investors (&ldquo;HQH&rdquo;), of Tekla Life Sciences Investors (&ldquo;HQL&rdquo;), of Tekla Healthcare Opportunities
Fund (&ldquo;THQ&rdquo;) and of Tekla World Healthcare Fund (&ldquo;THW&rdquo;) (each, a &ldquo;Fund&rdquo; and together, the &ldquo;Funds&rdquo;)
were held on June&nbsp;8, 2023. 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: 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: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Fidelity Bond Renewal</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-top: 0pt; margin-right: 0; margin-bottom: 0pt">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>RESOLVED,
</B></FONT>that upon due consideration of all relevant factors, including but not limited to the value of the aggregate assets of the
Fund to which each &ldquo;Covered Person&rdquo; (which for the purpose of these resolutions, shall mean each officer and employee of the
Fund and of the Adviser, who may, singly or jointly with others, have access to securities or funds of the Fund, either directly or through
authority to draw upon such funds or to direct generally the disposition of such securities of the Fund), may have access, the type and
terms of the Fund&rsquo;s arrangements for the custody and safekeeping of assets and the nature of the portfolio securities of the Fund,
the fidelity bond in which the Fund is named as an insured for any larceny or embezzlement committed by any Covered Person is hereby determined
to be reasonable in form and amount and its continuance approved; and</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FURTHER
RESOLVED, </B></FONT>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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FURTHER
RESOLVED, </B></FONT>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</P>

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FURTHER
RESOLVED, </B></FONT>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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FURTHER
RESOLVED, </B></FONT>that the officers of the Fund be, and each hereby is, designated as an officer directed to make filings and to give
the notices required of the Fund by Rule&nbsp;17g-1 under the Investment Company Act of 1940, as amended.</P>

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