<SEC-DOCUMENT>0001193125-15-359468.txt : 20151030
<SEC-HEADER>0001193125-15-359468.hdr.sgml : 20151030
<ACCEPTANCE-DATETIME>20151030112334
ACCESSION NUMBER:		0001193125-15-359468
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20151030
DATE AS OF CHANGE:		20151030
EFFECTIVENESS DATE:		20151030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INDIA FUND INC
		CENTRAL INDEX KEY:			0000917100
		IRS NUMBER:				133749070
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08266
		FILM NUMBER:		151186011

	BUSINESS ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC.
		STREET 2:		1735 MARKET STREET, 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		2154055700

	MAIL ADDRESS:	
		STREET 1:		C/O ABERDEEN ASSET MANAGEMENT INC.
		STREET 2:		1735 MARKET STREET, 32ND FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDIA FUND INC /NY NEW
		DATE OF NAME CHANGE:	19940106
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>d33478d4017g.htm
<DESCRIPTION>THE INDIA FUND, INC.
<TEXT>
<HTML><HEAD>
<TITLE>The India Fund, Inc.</TITLE>
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 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g33478ltrpg1.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">October&nbsp;30, 2015 </P>
<P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B><U>VIA EDGAR </U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Attention: Filing Desk
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Washington,
D.C. 20549 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>RE:&nbsp;&nbsp;&nbsp;&nbsp;The India Fund, Inc. (File Number 811-08266) </B></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">As
required by Rule&nbsp;17g-1(g) under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;), The India Fund, Inc. (the &#147;Fund&#148;), is enclosing for filing with the Securities and Exchange Commission: </P>
<P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:12pt">A copy of the Fund&#146;s Investment Company Blanket Bond, Policy Number B080121822P15 (the &#147;Bond&#148;); and </P></TD></TR></TABLE>
<P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:12pt">A Secretary&#146;s Certificate certifying resolutions adopted by the Fund&#146;s Board of Directors, including a majority of the Board of Directors
who are not &#147;interested persons&#148; of the Fund under the 1940 Act, on July&nbsp;28, 2015 approving the form and amount of the Bond. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The premium for the fidelity bond has been paid for the period from 12:01 a.m., Eastern Standard Time, on November&nbsp;1, 2015 to 12:01 a.m.,
Eastern Standard Time, on November&nbsp;1, 2016. </P> <P STYLE="margin-top:20pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Sincerely, </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><U>/s/ Alan R. Goodson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Alan R. Goodson, President </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The
India Fund, Inc. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>DECLARATIONS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="29%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">INSURER&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">CORRESPONDENT OFFICE&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:8pt">BROKER&nbsp;&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="13" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">AXIS Specialty Europe SE&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">AXIS Specialty London&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">Plantation Place South,&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">60 Great Tower Street,&nbsp;&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">London EC3R 5AZ.&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">Willis Limited&nbsp;&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">The Willis Building,&nbsp;&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">51
Lime Street,&nbsp;&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">London, EC3M 7DQ.&nbsp;&nbsp;</P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="6%"></TD>
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<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="33%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"><B>Item&nbsp;1.</B>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&nbsp;Insured</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bond Number</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>The India Fund, Inc</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B080121822P15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman">Principal Address:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman">&nbsp;1735 Market Street, 32nd Floor</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&nbsp;Philadelphia, PA 19103</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="64%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"><B>Item&nbsp;2.</B>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Bond Period:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">From</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">12.01 a.m. on 1st&nbsp;November, 2015</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">To</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">12.01 a.m. on 1st November, 2016</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">or the earlier effective date of the
termination of this <B>Bond</B>, standard time at the Principal Address as to each of said dates (hereinafter <B>&#147;Bond Period&#148;</B>).</P></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="1%"></TD></TR>

<TR STYLE="font-size:1px; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Item&nbsp;3.</B>&nbsp;&nbsp;&nbsp;Limit of Liability: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">&nbsp;&nbsp;&nbsp;Subject to Sections 9, 10 and 12 hereof: </P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="93%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt">


<TR>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2"><B>&nbsp;&nbsp;LIMIT OF<BR>&nbsp;LIABILITY</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>DEDUCTIBLE<BR>AMOUNT</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement A</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">FIDELITY</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement B</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">AUDIT EXPENSE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD5,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement C</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">ON PREMISES</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement D</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">IN TRANSIT</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring&nbsp;Agreement&nbsp;E</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">FORGERY OR ALTERATION</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement F</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">SECURITIES</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement G</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">COUNTERFEIT CURRENCY</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement H</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">UNCOLLECTIBLE ITEMS OF DEPOSIT</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD5,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">PHONE/ELECTRONIC TRANSACTIONS</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement J</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">COMPUTER SECURITY</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement K</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">VERIFICATION AND RECONSTITUTION EXPENSES</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD10,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement L</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">FRAUDULENT RETENTION OF FUNDS OR PROPERTY</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Insuring Agreement M</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">EXTORTION</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD1,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE></DIV> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Item&nbsp;4.&nbsp;&nbsp;&nbsp;</B>Offices or Premises Covered: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:8%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">All the <B>Insured&#146;s</B> offices or other premises in existence at the time this <B>Bond</B> becomes effective are
covered under this <B>Bond</B>, except the offices or other premises excluded by Rider (if any). Offices or other premises acquired or established by the <B>Insured</B> after the effective date of this <B>Bond</B> are covered subject to the terms of
General Agreement A. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 1 of 28 </P>


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<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Item&nbsp;5.</B>&nbsp;&nbsp;&nbsp;Amount of Fund
Assets:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD&nbsp;$894,489,132. </P>
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<TR STYLE="font-size:1px; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #000000">&nbsp;&nbsp;</TD>
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</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Item&nbsp;6.</B>&nbsp;&nbsp;&nbsp;Riders attached hereto at inception: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Rider No.&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deductible Waiver Rider </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Rider No.&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Third Party Check Rider </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Rider No.&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deductible Waiver Rider </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Rider No.&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TRIA Rider </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Authorised Representative of Axis Specialty Europe SE - </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Date </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 2 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>INVESTMENT COMPANY BLANKET BOND </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">NOTICE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The insurer identified
on the Declarations, herein called the <B>&#147;Insurer&#148;</B>, in consideration of the payment of or promise to pay the premium, and in reliance upon the material statements made in the <B>Application</B> and all other information furnished to
the <B>Insurer</B> by the <B>Insured</B>, 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) (hereinafter
<B>&#147;Bond&#148;</B>), to the extent of the <B>Limit of Liability</B> and subject to the <B>Deductible Amount</B>, agrees to indemnify the <B>Insured</B> for the loss, as described in the Insuring Agreements, sustained by the <B>Insured</B> at
any time but discovered during the <B>Bond Period</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>INSURING AGREEMENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FIDELITY </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss caused by any <B>Dishonest or Fraudulent Act</B> or
<B>Theft</B> committed by an <B>Employee</B> anywhere, alone or in collusion with other persons (whether or not <B>Employees</B>), during the time such <B>Employee</B> has the status of an <B>Employee</B> as defined herein, and even if such loss is
not discovered until after he or she ceases to be an <B>Employee</B>, EXCLUDING loss covered under Insuring Agreement B. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>AUDIT EXPENSE </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Expense incurred by the <B>Insured</B> for that part of
audits or examinations required by any governmental regulatory authority or <B>Self Regulatory Organization</B> to be conducted by such governmental regulatory authority or <B>Self Regulatory Organization</B> or by an independent accountant or other
person, by reason of the discovery of loss sustained by the <B>Insured</B> and covered by this <B>Bond</B>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>ON PREMISES </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss resulting from the physical loss of, destruction of,
damage to, or mysterious unexplainable disappearance of <B>Property</B> within any premises wherever located, howsoever or by whomsoever caused (including but not limited to loss of such <B>Property</B> through <B>Theft </B>or any <B>Dishonest or
Fraudulent Act</B>) but EXCLUDING loss covered under Insuring Agreement&nbsp;A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>IN TRANSIT </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss resulting from the physical loss of, destruction of,
damage to, or mysterious unexplainable disappearance of <B>Property</B>, howsoever or by whomsoever caused (including but not limited to loss of such <B>Property</B> through <B>Theft </B>or any <B>Dishonest or Fraudulent Act</B>) while such
<B>Property</B> is in transit anywhere in the custody of any person or persons authorized by an <B>Insured</B> to act as messenger(s), (or any other natural person acting as messenger during an emergency arising from the incapacity of the original
messenger), except while in the mail or with a carrier for hire (other than a <B>Security Company</B>) but EXCLUDING loss covered under Insuring Agreement&nbsp;A. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 3 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Special Condition </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Property</B> is &#147;in transit&#148; beginning immediately upon receipt of such <B>Property</B> by the transporting
person or persons and ending immediately upon delivery at the specified destination. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>E.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FORGERY OR ALTERATION </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss caused by the <B>Forgery</B> or
<B>Alteration</B> of or on (1)&nbsp;any bills of exchange, checks, drafts, or other written orders or directions to pay certain sums in money, acceptances, certificates of deposit, due bills, money orders, or letters of credit; or (2)&nbsp;other
written or printed instructions, advices, requests or applications to the <B>Insured </B>or any<B> Financial Organisation </B>acting on behalf of the <B>Insured</B>, which instructions, advices, requests or applications purport to have been signed
or endorsed by (a)&nbsp;any customer of the <B>Insured</B>, or (b)&nbsp;any shareholder of or subscriber to shares issued by any <B>Investment Company</B>, or (c)&nbsp;any <B>Financial Organisation</B>; or (3)&nbsp;withdrawal orders or receipts for
the withdrawal of funds or <B>Property</B>, or receipts or certificates of deposit for funds or <B>Property</B> and bearing the name of the <B>Insured</B> as issuer or of another <B>Investment Company</B> for which the <B>Insured</B> acts as agent.
This Insuring Agreement E does not cover loss caused by <B>Forgery</B> or <B>Alteration</B> of <B>Securities</B> or loss covered under Insuring Agreement A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>F.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>SECURITIES </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss resulting from the <B>Insured</B>, 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
on the faith of any <B>Securities</B>, where such loss results from the fact that such <B>Securities</B> (1)&nbsp;were <B>Counterfeit</B>, or (2)&nbsp;were lost or stolen, or (3)&nbsp;contain a <B>Forgery</B> or <B>Alteration</B>, and
notwithstanding whether or not the act of the <B>Insured</B> causing such loss violated the constitution, by-laws, rules or regulations of any <B>Self Regulatory Organization</B>, whether or not the <B>Insured</B> was a member thereof, EXCLUDING
loss covered under Insuring Agreement&nbsp;A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>G.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>COUNTERFEIT CURRENCY </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss caused by the <B>Insured</B> in good faith
having received or accepted (1)&nbsp;any money orders which prove to be <B>Counterfeit</B> or to contain an <B>Alteration</B> or (2)&nbsp;paper currencies or coins which prove to be <B>Counterfeit</B>. This Insuring Agreement G does not cover loss
covered under Insuring Agreement A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>H.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>UNCOLLECTIBLE ITEMS OF DEPOSIT </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss resulting from the payment of
dividends, issuance of <B>Fund</B> shares or redemptions or exchanges permitted from an account with the <B>Fund</B> as a consequence of </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">uncollectible <B>Items of Deposit</B> of a <B>Fund&#146;s</B> customer, shareholder or subscriber credited by the <B>Insured</B> or its agent to
such person&#146;s <B>Fund</B> account, or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any<B> Items of Deposit</B> processed through an automated clearing house which is reversed by a <B>Fund&#146;s</B> customer, shareholder or
subscriber and is deemed uncollectible by the <B>Insured</B>, </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 4 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">PROVIDED, that (a)<B> Items of Deposit</B> shall not be deemed uncollectible
until the <B>Insured&#146;s</B> collection procedures have failed, (b) exchanges of shares between <B>Funds</B> with exchange privileges shall be covered hereunder only if all such <B>Funds</B> are <B>Insured</B> by the <B>Insurer</B> for
uncollectible <B>Items of Deposit</B>, and (c) the <B>Insured Fund</B> shall have implemented and maintained a policy to hold <B>Items of Deposit</B> 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 <B>Items of Deposit</B> (other than exchanges between <B>Funds</B>). Regardless of the number of transactions between <B>Funds</B> in an exchange program, the minimum number of
days an <B>Item of Deposit </B>must be held shall begin from the date the <B>Item of Deposit</B> was first credited to any <B>Insured Fund</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This Insuring Agreement H does not cover loss covered under Insuring Agreement A. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>I.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>PHONE/ELECTRONIC TRANSACTIONS </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss caused by a <B>Phone/Electronic
Transaction</B>, where the request for such <B>Phone/Electronic Transaction</B>: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">is transmitted to the <B>Insured</B> or its agents by voice over the telephone or by <B>Electronic Transmission</B>; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">is made by an individual purporting to be a <B>Fund</B> shareholder or subscriber or an authorized agent of a <B>Fund</B> shareholder or
subscriber; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">is unauthorized or fraudulent, </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">PROVIDED, that the entity receiving such request generally maintains and follows during the <B>Bond Period</B> all
<B>Phone/Electronic Transaction Security Procedures</B> with respect to all <B>Phone/Electronic Transactions</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This
Insuring Agreement I does not cover loss resulting from: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the intentional failure to adhere to one or more <B>Phone/Electronic Transaction Security Procedures</B>; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">a <B>Phone/Electronic Transaction</B> request transmitted by electronic mail or transmitted by any method not subject to the <B>Phone/Electronic
Transaction Security Procedures</B>; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the failure or circumvention of any physical or electronic protection device, including any firewall, that imposes restrictions on the flow of
electronic traffic in or out of any <B>Computer System</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>J.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>COMPUTER SECURITY </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss (including loss of <B>Property</B>) resulting
directly from: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>Computer Fraud</B>; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the modification or deletion of any data or programs, due to the introduction or activation of any <B>Malicious Code</B>, </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 5 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">provided that the <B>Insured</B> has adopted in writing and generally maintains
and follows during the <B>Bond Period</B> all <B>Computer Security Procedures</B>. The isolated failure of the <B>Insured</B> to maintain and follow a particular <B>Computer Security Procedure</B> in a particular instance will not preclude coverage
under this Insuring Agreement, subject to the specific exclusions applying solely to this Insuring Agreement herein and in the <B>Bond</B>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>K.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>VERIFICATION AND RECONSTITUTION EXPENSES </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Expense incurred by the
<B>Insured </B>with the prior written approval by the <B>Insurer</B> (such approval not to be unreasonably withheld or unduly delayed), for the verification or reconstitution or removal of data or programs or the removal of <B>Malicious Code</B>
within a <B>Covered Computer System</B> following a paid loss under Insuring Agreement J of this <B>Bond</B>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>L.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FRAUDULENT RETENTION OF FUNDS OR PROPERTY </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss resulting directly from
the<B> Fraudulent Retention</B> by a third party recipient of any funds or<B> Property</B>, as a direct result of: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the misdirection or erroneous transfer of such funds or<B> Property</B> by the<B> Insured</B> or by a <B>Financial Organisation</B> acting upon
instructions from the <B>Insured</B>, to a third party recipient account other than that actually intended; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the transfer of such funds or<B> Property</B> by the <B>Insured</B> or by a <B>Financial Organisation</B> acting upon instructions from the
<B>Insured</B>, to a third party recipient account in an amount greater than that actually intended. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>Special Condition </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insured</B> shall make reasonable efforts to secure the recovery of such funds or<B> Property</B>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>M.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>EXTORTION </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Loss resulting directly from the loss of <B>Property</B>
surrendered away from an office of the <B>Insured</B> or the transfer of funds as a result of a threat communicated to the <B>Insured</B>: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to do bodily harm to a director, officer, trustee or <B>Employee</B> of the <B>Insured</B>, or a relative or an invitee of such director, officer,
trustee, <B>Employee</B>, who is, or allegedly is, being held captive or under threat; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to damage the premises, property (including <B>Property</B>) or other assets of the <B>Insured</B> or for which the<B> Insured </B>are legally
liable; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to delete or modify the <B>Insured&#146;s</B> data or the <B>Insured&#146;s</B> programs; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to sell or disclose confidential information to another person or party by reason of having gained unauthorised access to the <B>Insured&#146;s
Computer System</B>; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to cause the <B>Insured</B> to transfer, pay or deliver any funds or property (including <B>Property</B>) by means of a <B>Computer System</B> used
or operated by the <B>Insured</B>, </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 6 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">provided, however, that prior to the surrender of such <B>Property </B>or
transfer of funds: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the person receiving the threat has made a reasonable effort to report the extortionist&#146;s threat to a director of the <B>Insured</B>;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">a reasonable effort has been made to report the extortionist&#146;s threat to local law enforcement authorities; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">in relation to sub-clause (3), (4)&nbsp;or (5)&nbsp;above, the aforementioned director is satisfied that the person making the threat is both
capable of carrying it out and reasonably likely to do so and that the threatened action is technologically feasible. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>GENERAL AGREEMENTS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>ADDITIONAL EXPOSURES </B></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><U>Additional offices</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:12%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Except as provided in paragraph 2 below, this <B>Bond</B> shall apply to any additional office(s) established by the
<B>Insured</B> during the <B>Bond Period</B> and to all <B>Employees</B> during the <B>Bond Period</B>, without the need to give notice thereof or pay additional premiums to the <B>Insurer</B> for the <B>Bond Period</B>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><U>Merger or consolidation</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:12%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">If during the <B>Bond Period</B> an <B>Insured Investment Company</B> shall merge or consolidate with an institution in which
such <B>Insured</B> 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)&nbsp;days notify the <B>Insurer</B>
thereof, then this <B>Bond</B> shall automatically apply to the <B>Property</B> and <B>Employees</B> resulting from such merger, consolidation, acquisition or creation from the date thereof; provided, that the <B>Insurer</B> may make such coverage
contingent upon the payment of an additional premium. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><U>Acquisition or creation of funds</U> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">If during the <B>Bond Period</B>, an <B>Insured Investment Company</B> creates or acquires a <B>Fund</B>, other than by reason of the events
described in sub-clause (2)&nbsp;above; and if the total consolidated assets of such <B>Fund </B>are less than or equal to the amount set forth in Item&nbsp;5 of the Declarations then, subject to all the other provisions of this <B>Bond</B>,
coverage shall automatically apply to any loss sustained by that <B>Fund</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">If during the <B>Bond Period</B>, an <B>Insured Investment Company</B> creates or acquires a <B>Fund</B>, other than by reason of the events
described in sub-clause (2)&nbsp;above; and if the total consolidated assets of such <B>Fund </B>are greater than the amount set forth in Item&nbsp;5 of the Declarations, no coverage shall apply to any loss sustained by that <B>Fund</B> unless the
<B>Insured </B>provides the <B>Insurer </B>with full particulars of such acquisition or creation, agrees to any additional premium and/or amendment of the provisions of this <B>Bond</B> the <B>Insurer </B>requires and pays any premium required.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 7 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">There shall be no coverage for: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any loss sustained by any such <B>Fund</B> resulting from an act committed or an event occurring prior to the consummation of a transaction
described in (i)&nbsp;or (ii)&nbsp;above; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any loss sustained by any such <B>Fund</B> resulting from an act whenever committed or an event whenever occurring, which together with an act
committed or an event occurring prior to the consummation of such transaction, would constitute a <B>Single Loss</B>. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:18%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">In no event shall any transaction among <B>Insureds </B>constitute an acquisition or creation of <B>Funds</B>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><U>Fund name changes</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:12%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">If during the <B>Policy Period</B>, a <B>Fund</B> changes its legal name in accordance with the organizational documents of
such <B>Fund</B> and, if applicable, in accordance with state law, and such name change does not occur in connection with a transaction described in (2)&nbsp;or (3)&nbsp;above, then such <B>Fund</B> shall automatically qualify as a <B>Fund</B> under
its new name, in addition to its prior name. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>WARRANTY </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">No statement made by or on behalf of the <B>Insured</B>,
whether contained in the <B>Application</B> 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-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>COURT COSTS AND ATTORNEYS&#146; FEES </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insurer</B> will indemnify
the <B>Insured</B> against court costs and reasonable attorneys&#146; fees incurred and paid by the <B>Insured</B> in defense of any <B>Legal Proceeding</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insureds</B>, and not the <B>Insurer</B>, have the duty to defend any <B>Legal Proceeding</B>. The <B>Insurer</B> shall
be entitled to effectively associate with the <B>Insured</B> in the defense and the negotiation of any settlement of such <B>Legal Proceeding</B> if it that appears reasonable likely that such <B>Legal Proceeding</B> will involve the <B>Insurer</B>
making payment under this <B>Bond</B>. The <B>Insured</B> shall provide all reasonable information and assistance required by the <B>Insurer</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">If the amount of the <B>Insured&#146;s</B> liability or alleged liability in any such <B>Legal Proceeding</B> is greater than
the amount which the <B>Insured</B> would be entitled to recover under this <B>Bond</B> (other than pursuant to this General Agreement C), or if a <B>Deductible Amount</B> is applicable, or both, the indemnity liability of the <B>Insurer</B> under
this General Agreement C is limited to the proportion of court costs and attorneys&#146; fees incurred and paid by the <B>Insured</B> or by the <B>Insurer</B> that the amount which the <B>Insured</B> would be entitled to recover under this
<B>Bond</B> (other than pursuant to this General Agreement C) bears to the sum of such amount plus the amount which the <B>Insured</B> is not entitled to recover. Such indemnity shall be in addition to the <B>Limit of Liability</B> for the
applicable Insuring Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 8 of 28 </P>


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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>INTERPRETATION </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This <B>Bond</B> shall be interpreted with due regard
to the purpose of fidelity bonding under Rule 17g-1 of 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 <B>Property</B> resulting
from a cause described in any Insuring Agreement ordinarily gives rise to a potential legal liability on the part of the <B>Insured</B>), such that the term &#147;loss&#148; as used herein shall include an <B>Insured&#146;s</B> legal liability for
direct compensatory damages resulting directly from a misappropriation, or measurable diminution in value, of <B>Property</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THIS
BOND, INCLUDING THE FOREGOING INSURING AGREEMENTS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>AND GENERAL AGREEMENTS, IS SUBJECT TO THE FOLLOWING </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>PROVISIONS, CONDITIONS AND LIMITATIONS: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 1.&nbsp;&nbsp;DEFINITIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The following terms used in this <B>Bond</B> (in bold type font) shall have the meanings stated in this Section: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">A.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Alteration&#148;</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. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">B.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Application&#148;</B> means the <B>Insured&#146;s</B> application (and any attachments and materials submitted in connection therewith)
furnished to the <B>Insurer</B> for this <B>Bond</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">C.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Authorized User&#148;</B> means any person or entity designated by the <B>Insured</B> (through contract, assignment of <B>User
Identification</B>, or otherwise) as authorized to use a <B>Covered Computer System</B>, or any part thereof. An individual who invests in an <B>Insured Fund</B> shall not be considered to be an <B>Authorized User</B> solely by virtue of being an
investor. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">D.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Computer Fraud&#148;</B> means the unauthorized entry of data into, or the deletion or destruction of data in, or change of data elements
or programs within, a <B>Covered Computer System</B> which: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">is committed by: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any<B> Unauthorized Third Party</B> anywhere, alone or in collusion with other <B>Unauthorized Third Parties</B>; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any<B> Authorised User </B>anywhere, alone or in collusion with other <B>Authorised Users </B>or<B> Unauthorized Third Parties </B>but only where
that <B>Authorised User</B> is acting beyond a level to which he or she is authorized to use a <B>Covered Computer System</B>, or any part thereof; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">causes (a)&nbsp;funds or <B>Property</B> to be transferred, paid or delivered; or (b)&nbsp;an account of the <B>Insured</B>, or of its customer, to
be added, deleted, debited or credited; or (c)&nbsp;an unauthorized or fictitious account to be debited or credited. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">E.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Computer System&#148;</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. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 9 of 28 </P>


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<TD WIDTH="6%" VALIGN="top" ALIGN="left">F.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Computer Security Procedures&#148;</B> means procedures for prevention of unauthorized computer access and use and administration of
computer access. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">G.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Counterfeit&#148;</B> means, with respect to any item, one which is false but is intended to deceive and to be taken for the original
authentic item. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">H.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Covered Computer System&#148;</B> means any <B>Computer System</B> as to which the <B>Insured</B> has possession, custody and control.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">I.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Deductible Amount&#148;</B> means, with respect to any Insuring Agreement, the amount set forth under the heading &#147;Deductible
Amount&#148; in Item&nbsp;3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each <B>Single Loss</B> covered by such Insuring Agreement. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">J.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Depository&#148;</B> means any &#147;securities depository&#148; (other than any foreign securities depository) in which an <B>Investment
Company</B> may deposit its <B>Securities</B> in accordance with Rule 17f-4 under the Investment Company Act of 1940. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">K.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Dishonest or Fraudulent Act&#148;</B> means any dishonest or fraudulent act, including &#147;larceny and embezzlement&#148; as defined in
Section&nbsp;37 of the Investment Company Act of 1940, committed with the conscious manifest intent (1)&nbsp;to cause the <B>Insured</B> to sustain a loss and (2)&nbsp;to obtain financial benefit for the perpetrator or any other person or
organisation. As used in this definition, financial benefit does not include salaries, commissions, fees, bonuses, awards, profit sharing, pensions or other employee benefits. Where an <B>Employee</B> has obtained financial remuneration directly
from the consequences of a dishonest or fraudulent act covered under Insuring Agreement A, the <B>Insured</B> may include such amount within the calculation of direct financial loss. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">A <B>Dishonest or Fraudulent Act</B> does not mean or include a reckless act, a negligent act, or a grossly negligent act.
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">L.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Electronic Transmission&#148;</B> means any transmission effected by electronic means, including but not limited to a transmission
effected by telephone tones, <B>Telefacsimile</B>, wireless device, or over the Internet. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">M.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Employee&#148;</B> means: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each officer, director, trustee, partner or employee of the <B>Insured</B>; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each officer, director, trustee, partner or employee of any predecessor of the <B>Insured</B> whose principal assets are acquired by the
<B>Insured</B> by consolidation or merger with, or purchase of assets or capital stock of, such predecessor; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each attorney performing legal services for the <B>Insured</B> and each employee of such attorney or of the law firm of such attorney while
performing services for the <B>Insured</B>; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each student who is an authorized intern of the <B>Insured</B>, while in any of the <B>Insured&#146;s</B> offices; and </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 10 of 28 </P>


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<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each officer, director, trustee, partner or employee of: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">an investment adviser; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">an underwriter (distributor); </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">a transfer agent or shareholder accounting record-keeper; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">an administrator authorized by written or electronic agreement to keep financial and/or other required records, </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">for an <B>Investment Company</B> named as an <B>Insured</B>, 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 <B>Insured</B>, 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 <B>Property</B> of the <B>Insured</B>, 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 <B>&#147;Employee&#148;</B> shall not include any officer, director, trustee, partner or employee of a transfer agent, shareholder accounting record-keeper or administrator (x)&nbsp;which is not an &#147;affiliated person&#148; (as
defined in Section&nbsp;2(a) of the Investment Company Act of 1940) of an <B>Investment Company</B> named as <B>Insured</B> or of the adviser or underwriter of such <B>Investment Company</B>, or (y)&nbsp;which is a &#147;Bank&#148; (as defined in
Section&nbsp;2(a) of the Investment Company Act of 1940); and </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each individual assigned, by contract or by any agency furnishing temporary personnel, in either case on a contingent or part-time basis, to
perform the usual duties of an employee in any office of the <B>Insured</B>; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(7)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each individual assigned to perform the usual duties of an employee or officer of any entity authorized by written or electronic agreement with the
<B>Insured</B> to perform services as electronic data processor of checks or other accounting records of the <B>Insured</B>, but excluding a processor which acts as transfer agent or in any other agency capacity for the <B>Insured</B> in issuing
checks, drafts or securities, unless included under subsection (5)&nbsp;hereof; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(8)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each officer, partner or employee of: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any<B> Depository</B> or <B>Exchange</B>; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any nominee in whose name is registered any Security included in the systems for the central handling of securities established and maintained by
any <B>Depository</B>; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any recognized service company which provides clerks or other personnel to any <B>Depository</B> or <B>Exchange</B> on a contract basis,
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:12%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">while such officer, partner or employee is performing services for any <B>Depository</B> in the
operation of systems for the central handling of securities; and </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(9)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each individual consultant whilst performing services or duties on behalf of the <B>Insured</B>; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(10)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">in the case of an <B>Insured</B> which is an &#147;employee benefit plan&#148; (as defined in Section 3 of the Employee Retirement Income Security
Act of 1974 (&#147;ERISA&#148;)) for officers, directors or employees of another <B>Insured</B> (&#147;In-House Plan&#148;), any &#147;fiduciary&#148; or other &#147;plan official&#148; (within the meaning of Section 412 of ERISA) of such In-House
Plan, provided that such fiduciary or other plan official is a director, partner, officer, trustee or employee of an <B>Insured</B> (other than an In-House Plan). </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 11 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" 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 <B>Bond</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Brokers, agents, independent contractors, or representatives of the same general character shall not be considered
<B>Employees</B>, except as provided in subsections (3), (6), and (7). </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">N.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Exchange&#148;</B> means any national securities exchange registered under the Securities Exchange Act of 1934. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">O.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Financial Organisation&#148;</B> means any: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">bank, credit institution, financial institution, undertaking for collective investment in securities, investment firm, stockbroker, asset
management company, or similar organisation; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">regulated investment exchange or automated clearing house. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">P.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Forgery&#148;</B> means the physical signing on a document of the name of another person (whether real or fictitious) with the intent to
deceive. A <B>Forgery</B> may be by means of mechanically reproduced facsimile signatures as well as handwritten signatures. <B>Forgery</B> does not include the signing of an individual&#146;s own name, regardless of such individual&#146;s
authority, capacity or purpose. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">Q.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Fraudulent Retention&#148;</B> means: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the wrongful retention of funds or<B> Property</B> by a third party recipient without contractual or other legal right to such retention;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the inability to recover any funds or <B>Property</B> erroneously transferred into the account of a third party recipient, despite all reasonable
efforts to secure such recovery, solely because: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the third party recipient is unknown; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">such funds or <B>Property</B> have been misappropriated. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">R.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Insured&#148;</B> means the entity shown in Item&nbsp;1 of the Declarations. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">S.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Items of Deposit&#148;</B> means one or more checks or drafts. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">T.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Investment Company&#148;</B> or <B>&#147;Fund&#148;</B> means an investment company registered under the Investment Company Act of 1940
listed by endorsement to this <B>Bond</B> or subject to General Agreement A, created or acquired during the <B>Bond Period</B>. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 12 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">U.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Legal Proceeding&#148;</B> means any legal proceeding brought against the <B>Insured</B> seeking recovery for any loss which, if
established against the <B>Insured</B>, would constitute a loss covered under the terms of this <B>Bond</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">V.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Limit of Liability&#148;</B> means, with respect to any Insuring Agreement, the limit of liability of the <B>Insurer</B> for any <B>Single
Loss</B> covered by such Insuring Agreement as set forth under the heading &#147;Limit of Liability&#148; in Item&nbsp;3 of the Declarations or in any Rider for such Insuring Agreement. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">W.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Malicious Code&#148;</B> means any unauthorised, corrupting or harmful software code, including without limitation, computer viruses,
Trojan horses, keystroke loggers, spyware, adware, worms and logic bombs. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">X.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Mysterious Disappearance&#148;</B> means any disappearance of <B>Property</B> which, after a reasonable investigation has been conducted,
cannot be explained. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">Y.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Non-Fund&#148;</B> means any corporation, business trust, partnership, trust or other entity which is not an <B>Investment Company</B>.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">Z.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Phone/Electronic Transaction Security Procedures&#148;</B> means security procedures for <B>Phone/Electronic Transactions</B> as provided
in writing to the <B>Insurer</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">AA.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Phone/Electronic Transaction&#148;</B> means any (1)&nbsp;redemption of shares issued by an <B>Investment Company</B>, (2)&nbsp;election
concerning dividend options available to <B>Fund</B> shareholders, (3)&nbsp;exchange of shares in a registered account of one <B>Fund</B> into shares in an identically registered account of another <B>Fund</B> in the same complex pursuant to
exchange privileges of the two <B>Funds</B>, or (4)&nbsp;purchase of shares issued by an <B>Investment Company</B>, which redemption, election, exchange or purchase is requested by voice over the telephone or through an <B>Electronic
Transmission</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">BB.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Property&#148;</B> means the following tangible items: money, postage and revenue stamps, precious metals, <B>Securities</B>, 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 <B>Insured</B> 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 <B>Insured</B> has a legally cognizable interest, (2)&nbsp;in which the <B>Insured</B> acquired or should have acquired such an interest
by reason of a predecessor&#146;s declared financial condition at the time of the <B>Insured&#146;s</B> consolidation or merger with, or purchase of the principal assets of, such predecessor or (3)&nbsp;which are held by the <B>Insured</B> for any
purpose or in any capacity. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>&#147;Property&#148;</B> shall include the physical components or
materials on which data or programs can be recorded. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">CC.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Responsible Officer&#148;</B> means the first named<B> Insured&#146;s</B> Chief Compliance Officer (or designated alternate).
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 13 of 28 </P>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">DD.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">&#147;<B>Restricted Notification</B>&#148; means when the <B>Insured </B>is prevented from disclosing the existence of any loss to the <B>Insurer
</B>after it has been discovered due to any legal or regulatory prohibition, following any investigation or enquiry commenced by or on behalf of any regulatory, police or prosecuting authority anywhere in the world. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">EE.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Securities&#148;</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 and transferable by physical delivery with appropriate endorsement or assignment.
<B>&#147;Securities&#148;</B> does not include bills of exchange, acceptances, certificates of deposit, checks, drafts, or other written orders or directions to pay sums certain in money, due bills, money orders, or letters of credit.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">FF.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Security Company&#148;</B> means an entity which provides or purports to provide the transport of <B>Property</B> by secure means,
including, without limitation, by use of armored vehicles or guards. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">GG.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Self Regulatory Organization&#148;</B> means any association of investment advisers or securities dealers registered under the federal
securities laws, or any <B>Exchange</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">HH.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Shareholder of Record&#148;</B> means the record owner of shares issued by an <B>Investment Company</B> 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 <B>Application</B>.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">II.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Single Loss&#148;</B> means: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">all loss resulting from any one actual or attempted <B>Theft</B> committed by one person; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">all loss caused by any one act (other than a <B>Theft</B> or a <B>Dishonest or Fraudulent Act</B>) committed by one person; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">all loss caused by <B>Dishonest or Fraudulent Act</B>s committed by one person; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">all expenses incurred with respect to any one audit or examination; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">all expenses incurred for the verification or reconstitution or removal of data or programs or the removal of <B>Malicious Code</B>; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">all loss caused by any one occurrence or event other than those specified in subsections (1)&nbsp;through (5)&nbsp;above. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" 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;through (3)&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="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" 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="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 14 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">&#147;<B>Single Loss</B>&#148; shall also include all loss caused by <B>Computer
Fraud(s)</B> 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 <B>Insurer</B> to involve the same individual and in that event shall be treated as a <B>Single Loss</B>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">JJ.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Telefacsimile&#148;</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. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">KK.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Theft&#148;</B> means robbery, burglary or hold-up, occurring with or without violence or the threat of violence. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">LL.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Unauthorized Third Party&#148;</B> means any person or entity that, at the time of the <B>Computer Fraud</B>, is not an <B>Authorized
User</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">MM.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;User Identification&#148;</B> means any unique user name (i.e., a series of characters) that is assigned to a person or entity by the
<B>Insured</B>. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 2.&nbsp;&nbsp;EXCLUSIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">THIS <B>BOND</B> DOES NOT COVER: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">A.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from (1)&nbsp;riot or civil commotion outside the United States of America and Canada, or (2)&nbsp;war, revolution, insurrection,
action by armed forces, or usurped power, wherever occurring; except if such loss occurs while the <B>Property</B> is in transit, is otherwise covered under Insuring Agreement D, and when such transit was initiated, the <B>Insured</B> or any person
initiating such transit on the <B>Insured&#146;s</B> behalf had no knowledge of such riot, civil commotion, war, revolution, insurrection, action by armed forces, or usurped power. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">B.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss in time of peace or war resulting from nuclear fission or fusion or radioactivity, or biological or chemical agents or hazards, or fire,
smoke, or explosion, or the effects of any of the foregoing. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">C.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from any <B>Dishonest or Fraudulent Act</B> committed by any person while acting in the capacity of a member of the Board of
Directors or any equivalent body of the <B>Insured</B> or of any other entity. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">D.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from any nonpayment or other default of any loan or similar transaction made by the <B>Insured</B> or any of its partners,
directors, officers or employees, whether or not authorized and whether procured in good faith or through a <B>Dishonest or Fraudulent Act</B>, unless such loss is otherwise covered under Insuring Agreement A, E, F or J. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">E.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from any violation by the <B>Insured</B> or by any <B>Employee</B> of any law, or any rule or regulation pursuant thereto or adopted
by a <B>Self Regulatory Organization</B>, regulating the issuance, purchase or sale of securities, securities transactions upon security exchanges or over the counter markets, Investment Companies, or investment advisers, unless such loss, in the
absence of such law, rule or regulation, would be covered under Insuring Agreement A, E or F. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 15 of 28 </P>


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<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">F.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from <B>Property</B> that is the object of <B>Theft</B>, <B>Dishonest or Fraudulent Act</B>, or <B>Mysterious Disappearance</B>
while in the custody of any <B>Security Company</B>, unless such loss is covered under this <B>Bond</B> and is in excess of the amount recovered or received by the <B>Insured</B> under (1) the <B>Insured&#146;s</B> contract with such <B>Security
Company</B>, and (2) insurance or indemnity of any kind carried by such <B>Security Company</B> for the benefit of, or otherwise available to, users of its service, in which case this <B>Bond</B> shall cover only such excess, subject to the
applicable <B>Limit of Liability</B> and <B>Deductible Amount</B>. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">G.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss of potential income, including but not limited to interest and dividends, not realized by the <B>Insured</B> because of a loss covered under
this <B>Bond</B>, except when covered under Insuring Agreement H. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">H.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss in the form of (1)&nbsp;damages of any type for which the <B>Insured</B> is legally liable, except direct compensatory damages, or
(2)&nbsp;taxes, fines, or penalties, including without limitation <FONT STYLE="white-space:nowrap">two-thirds</FONT> of treble damage awards pursuant to judgments under any statute or regulation. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">I.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from the surrender of <B>Property</B> away from an office of the <B>Insured</B> as a result of a threat </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to do bodily harm to any person, except where the <B>Property</B> 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 <B>Insured</B> had no knowledge of such threat at the time such transit was initiated, or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">to do damage to the premises or <B>Property</B> of the <B>Insured</B>, </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">unless such loss is otherwise covered under Insuring Agreement A or M. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">J.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">All costs, fees and other expenses incurred by the <B>Insured</B> in establishing the existence of or amount of loss covered under this
<B>Bond</B>, except to the extent certain audit expenses are covered under Insuring Agreement B. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">K.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from payments made to or withdrawals from any account, involving funds erroneously credited to such account, unless such loss is
otherwise covered under Insuring Agreement A or L. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">L.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from uncollectible <B>Items of Deposit</B> which are drawn upon a financial institution outside the United States of America, its
territories and possessions, or Canada. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">M.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from the <B>Dishonest or Fraudulent Acts</B>, <B>Theft</B>, or other acts or omissions of an <B>Employee</B> primarily engaged in
the sale of shares issued by an <B>Investment Company</B> to persons other than (1)&nbsp;a person registered as a broker under the Securities Exchange Act of 1934 or (2)&nbsp;an <B>&#147;</B>accredited investor<B>&#148;</B> as defined in Rule 501(a)
of Regulation D under the Securities Act of 1933, which is not an individual. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">N.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from the use of credit, debit, charge, access, convenience, identification, cash management or other cards, whether such cards were
issued or purport to have been issued by the <B>Insured</B> or by anyone else, unless such loss is otherwise covered under Insuring Agreement&nbsp;A. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 16 of 28 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">O.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from any purchase, redemption or exchange of securities issued by an <B>Investment Company</B> or other <B>Insured</B>, or any other
instruction, request, acknowledgement, notice or transaction involving securities issued by an <B>Investment Company</B> or other <B>Insured</B> 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 <B>Electronic Transmission</B>, unless such loss is otherwise covered under Insuring Agreement A or Insuring Agreement&nbsp;I. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">P.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from any <B>Dishonest or Fraudulent Act</B> or <B>Theft</B> committed by an <B>Employee</B> as defined in Section&nbsp;1.I(2),
unless such loss (1)&nbsp;could not have been reasonably discovered by the due diligence of the <B>Insured</B> at or prior to the time of acquisition by the <B>Insured</B> of the assets acquired from a predecessor, and (2)&nbsp;arose out of a
lawsuit or valid claim brought against the <B>Insured</B> by a person unaffiliated with the <B>Insured</B> or with any person affiliated with the <B>Insured</B>. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">Q.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from the unauthorized entry of data into, or the deletion or destruction of data in, or the change of data elements or programs
within, any <B>Computer System</B>, unless such loss is otherwise covered under Insuring Agreement A, J or M. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">IN
ADDITTION TO THE FOREGOING EXCLUSIONS, INSURING AGREEMENT J OF THIS <B>BOND</B> DOES NOT COVER: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">R.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss covered under Insuring Agreement A, &#147;Fidelity,&#148; of this <B>Bond</B>. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">S.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting directly or indirectly from <B>Theft</B> or misappropriation of confidential or proprietary information, material or data (including
but not limited to trade secrets, computer programs or customer information). </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This exclusion shall not
apply to the extent that the <B>Theft</B> or misappropriation of such confidential or proprietary information, material or data is used to support or facilitate the commission of an act covered under this <B>Bond</B>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">T.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from the intentional failure to adhere to one or more <B>Computer Security Procedures</B>. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">U.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from a <B>Computer Fraud</B> committed by or in collusion with: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any<B> Authorized User</B> (whether a natural person or an entity); or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">in the case of any <B>Authorized User</B> which is an entity, (a)&nbsp;any director, officer, partner, employee or agent of such <B>Authorized
User</B>, or (b)&nbsp;any entity which controls, is controlled by, or is under common control with such <B>Authorized User</B> (<B>&#147;Related Entity&#148;</B>), or (c)&nbsp;any director, officer, partner, employee or agent of such <B>Related
Entity</B>; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">in the case of any <B>Authorized User</B> who is a natural person, (a)&nbsp;any entity for which such <B>Authorized User</B> is a director,
officer, partner, employee or agent (<B>&#147;Employer Entity&#148;</B>), or (b)&nbsp;any director, officer, partner, employee or agent of such <B>Employer Entity,</B> or (c)&nbsp;any entity which controls, is controlled by, or is under common
control with such <B>Employer Entity</B> (<B>&#147;Employer-Related Entity&#148;</B>), or (d)&nbsp;any director, officer, partner, employee or agent of such <B>Employer-Related Entity</B>. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 17 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This exclusion shall not apply to any loss resulting from unauthorized entry of
data into, or the deletion or destruction of data in, or change of data elements or programs within, a <B>Covered Computer System </B>by an <B>Authorized User</B> or by any other person or entity listed in (2) or (3) above. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">V.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss resulting from physical damage to or destruction of any <B>Covered Computer System</B>, or any part thereof, or any data, data elements or
media associated therewith. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">W.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Loss not directly and proximately caused by <B>Computer Fraud</B> or the modification or deletion of any data or programs, due to the introduction
or activation of any <B>Malicious Code</B> (including, without limitation, disruption of business and extra expense). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">X.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Payments made to any person(s) who has threatened to deny or has denied authorized access to a <B>Covered Computer System</B> or otherwise has
threatened to disrupt the business of the <B>Insured</B>. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 3.&nbsp;&nbsp;ASSIGNMENT OF RIGHTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Upon payment to the <B>Insured</B> hereunder for any loss, the <B>Insurer</B> shall be subrogated to the extent of such payment to all of the
<B>Insured&#146;s</B> rights and claims in connection with such loss; provided, however, that the <B>Insurer</B> shall not be subrogated to any such rights or claims one named <B>Insured</B> under this <B>Bond</B> may have against another named
<B>Insured</B> under this <B>Bond</B>. At the request of the <B>Insurer</B>, the <B>Insured</B> shall execute all assignments or other documents and take such action as the <B>Insurer</B> may deem necessary or desirable to secure and perfect such
rights and claims, including the execution of documents necessary to enable the <B>Insurer</B> to bring suit in the name of the <B>Insured</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Assignment of any rights or claims under this <B>Bond</B> shall not bind the <B>Insurer</B> without the <B>Insurer&#146;s</B> written consent
(such consent not to be unreasonably withheld). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 4.&nbsp;&nbsp;LOSS--NOTICE--PROOF--LEGAL PROCEEDINGS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">This <B>Bond</B> is for the use and benefit only of the <B>Insured</B> and the <B>Insurer</B> shall not be liable hereunder to anyone other than
the <B>Insured</B>. As soon as reasonably practicable and not more than sixty (60)&nbsp;days after discovery of a loss, the <B>Insured</B> shall give the <B>Insurer</B> written notice thereof and, as soon as reasonably practicable and within one
(1)&nbsp;year after such discovery (or, where a <B>Restricted Notification</B> applies, within one (1)&nbsp;year of the relevant legal or regulatory prohibition being lifted), shall also furnish to the <B>Insurer</B> affirmative proof of loss with
full known particulars. The <B>Insurer</B> may extend the sixty (60)&nbsp;day notice period or the one (1)&nbsp;year proof of loss period if the <B>Insured</B> requests an extension and shows good cause therefor. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">The requirement contained in sub-clause (1)&nbsp;above to give notice of a loss shall be suspended and of no effect if such notice is in respect of
a <B>Restricted Notification</B>. The suspension of the requirement to notify the <B>Insurer </B>of any loss under sub-clause (1)&nbsp;above in respect of a <B>Restricted Notification </B>shall end when and to the extent that the relevant legal or
regulatory prohibition is lifted. Such notification, if permitted to do so by the regulatory, police or prosecuting authority, shall be accompanied by evidence as to why the <B>Insured </B>was initially prevented from disclosing the existence of any
loss to the <B>Insurer</B>. On such notification, the loss shall be deemed to have been discovered and the<B> Insurer </B>notified at the time the <B>Responsible Officer </B>first became aware of the loss. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 18 of 28 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">The <B>Insurer</B> shall not be liable hereunder for loss of <B>Securities</B> unless each of the <B>Securities</B> is identified in such proof of
loss by a certificate or bond number or by such identification means as the <B>Insurer</B> may require. The <B>Insurer</B> shall have a reasonable period after receipt of a proper affirmative proof of loss within which to investigate the claim, but
where the <B>Property</B> is <B>Securities</B> and the loss is clear and undisputed, settlement shall be made within forty-eight (48) hours even if the loss involves <B>Securities</B> of which duplicates may be obtained. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">The <B>Insured</B> shall not bring legal proceedings against the <B>Insurer</B> to recover any loss hereunder prior to sixty (60)&nbsp;days after
filing such proof of loss. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">Notice hereunder shall be given to the <B>Insurer </B>via the broker through either of the following methods: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top">By post:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">FINEX Claims,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Willis Limited,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Willis Building, FINEX Claims Department, 51 Lime Street,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">London, EC3A 7LA</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">United Kingdom.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top">By e-mail:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">ficlaims@willis.com</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 5.&nbsp;&nbsp;DISCOVERY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For all purposes under this <B>Bond</B>, a loss is discovered, and discovery of a loss occurs, when the <B>Responsible Officer </B>first: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">becomes aware of facts; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">receives notice of an actual or potential claim by a third party which alleges that the <B>Insured</B> is liable under circumstances,
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">which would cause a person to assume that loss covered by this<B> Bond</B> has been or is reasonably likely to be
incurred even though the exact amount or details of loss may not be known. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 6.&nbsp;&nbsp;VALUATION OF PROPERTY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For the purpose of determining the amount of any loss hereunder, the value of any <B>Property</B> shall be the market value of such
<B>Property</B> at the close of business on the first business day before the discovery of such loss; except that: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the value of any <B>Property</B> replaced by the <B>Insured</B> prior to the payment of a claim therefor shall be the actual market value of such
<B>Property</B> at the time of replacement, but not in excess of the market value of such <B>Property</B> on the first business day before the discovery of the loss of such <B>Property</B>; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the value of <B>Securities</B> 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 <B>Securities</B> is not discovered until after such expiration, but if there is no quoted or other ascertainable market price for such <B>Property</B> 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 </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the value of books of accounts or other records used by the <B>Insured</B> in the conduct of its business shall be limited to the actual cost of
blank books, blank pages or other materials if the books or records are reproduced plus the cost of labor for the transcription or copying of data furnished by the <B>Insured</B> for reproduction. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 19 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 7.&nbsp;&nbsp;LOST SECURITIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The maximum liability of the <B>Insurer</B> hereunder for lost <B>Securities</B> shall be the payment for, or replacement of, such
<B>Securities</B> having an aggregate value not to exceed the applicable <B>Limit of Liability</B>. If the <B>Insurer</B> shall make payment to the <B>Insured</B> for any loss of <B>Securities</B>, the <B>Insured</B> shall assign to the
<B>Insurer</B> all of the <B>Insured&#146;s</B> right, title and interest in and to such <B>Securities</B>. In lieu of such payment, the <B>Insurer</B> may, at its option, replace such lost <B>Securities</B>, and in such case the <B>Insured</B>
shall cooperate to effect such replacement. To effect the replacement of lost <B>Securities</B>, the <B>Insurer</B> may issue or arrange for the issuance of a lost instrument bond. If the value of such <B>Securities</B> does not exceed the
applicable <B>Deductible Amount</B> (at the time of the discovery of the loss), the <B>Insured</B> 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="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">If the value of such <B>Securities</B> exceeds the applicable <B>Deductible Amount</B> (at
the time of discovery of the loss), the <B>Insured</B> will pay a proportion of the usual premium charged for the lost instrument bond, equal to the percentage that the applicable <B>Deductible Amount</B> bears to the value of such <B>Securities</B>
upon discovery of the loss, and will indemnify the issuer of such bond against all loss and expense that is not recovered from the <B>Insurer</B> under the terms and conditions of this <B>Bond</B>, subject to the applicable <B>Limit of
Liability</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 8.&nbsp;&nbsp;SALVAGE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">If any recovery is made, whether by the <B>Insured</B> or the <B>Insurer</B>, on account of any loss within the applicable <B>Limit of
Liability</B> hereunder, the <B>Insurer</B> shall be entitled to the full amount of such recovery to reimburse the <B>Insurer</B> for all amounts paid hereunder with respect to such loss. If any recovery is made, whether by the <B>Insured</B> or the
<B>Insurer</B>, on account of any loss in excess of the applicable <B>Limit of Liability</B> hereunder plus the <B>Deductible Amount</B> applicable to such loss from any source other than suretyship, insurance, reinsurance, security or indemnity
taken by or for the benefit of the <B>Insurer</B>, the amount of such recovery, net of the actual costs and expenses of recovery, shall be applied to reimburse the <B>Insured</B> in full for the portion of such loss in excess of such <B>Limit of
Liability</B>, and the remainder, if any, shall be paid first to reimburse the <B>Insurer</B> for all amounts paid hereunder with respect to such loss and then to the <B>Insured</B> to the extent of the portion of such loss within the <B>Deductible
Amount</B>. The <B>Insured</B> shall execute all documents which the <B>Insurer</B> deems necessary or desirable to secure to the <B>Insurer</B> the rights provided for herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 9.&nbsp;&nbsp;NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Prior to its termination, this <B>Bond</B> shall continue in force up to the <B>Limit of Liability</B> for each Insuring Agreement for each
<B>Single Loss</B>, notwithstanding any previous loss (other than such <B>Single Loss</B>) for which the <B>Insurer</B> may have paid or be liable to pay hereunder; PROVIDED, however, that regardless of the number of years this <B>Bond</B> shall
continue in force and the number of premiums which shall be payable or paid, the liability of the <B>Insurer</B> under this <B>Bond</B> with respect to any <B>Single Loss</B> shall be limited to the applicable <B>Limit of Liability</B> irrespective
of the total amount of such <B>Single Loss</B> and shall not be cumulative in amounts from year to year or from period to period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 20 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 10.&nbsp;&nbsp;MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The maximum liability of the <B>Insurer</B> for any <B>Single Loss</B> covered by any Insuring Agreement under this <B>Bond</B> shall be the
<B>Limit of Liability</B> applicable to such Insuring Agreement, subject to the applicable <B>Deductible Amount</B> and the other provisions of this <B>Bond</B>. Recovery for any <B>Single Loss</B> may not be made under more than one Insuring
Agreement. If any <B>Single Loss</B> covered under this <B>Bond</B> is recoverable or recovered in whole or in part because of an unexpired discovery period under any other bonds or policies issued by the <B>Insurer</B> to the <B>Insured</B> or to
any predecessor in interest of the <B>Insured</B>, the maximum liability of the <B>Insurer</B> shall be the greater of either (1)&nbsp;the applicable <B>Limit of Liability</B> under this <B>Bond</B>, or (2)&nbsp;the maximum liability of the
<B>Insurer</B> under such other bonds or policies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 11.&nbsp;&nbsp;OTHER INSURANCE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Notwithstanding anything to the contrary herein, if any loss covered by this <B>Bond</B> shall also be covered by other insurance or
suretyship for the benefit of the <B>Insured</B>, the <B>Insurer</B> 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 <B>Limit
of Liability</B> of this <B>Bond</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 12.&nbsp;&nbsp;DEDUCTIBLE AMOUNT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insurer</B> 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 <B>Insured</B> with respect to such loss (other than from any other bond, suretyship or insurance policy or as an advance by the <B>Insurer</B> hereunder) shall exceed the applicable
<B>Deductible Amount</B>; in such case the <B>Insurer</B> shall be liable only for such excess, subject to the applicable <B>Limit of Liability</B> and the other terms of this <B>Bond</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">No <B>Deductible Amount</B> shall apply to any loss covered under Insuring Agreement A sustained by any <B>Investment Company</B> named as an
<B>Insured</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 13.&nbsp;&nbsp;TERMINATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insurer</B> may terminate this <B>Bond</B> as to any <B>Insured</B> or all <B>Insureds</B> only by written notice to such
<B>Insured</B> or <B>Insureds</B> and, if this <B>Bond</B> is terminated as to any <B>Investment Company</B>, to each such <B>Investment Company</B> terminated thereby and to the Securities and Exchange Commission, Washington, D.C., in all cases not
less than sixty (60)&nbsp;days prior to the effective date of termination specified in such notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insured</B> may terminate this
<B>Bond</B> only by written notice to the <B>Insurer</B> not less than sixty (60)&nbsp;days prior to the effective date of the termination specified in such notice. Notwithstanding the foregoing, when the <B>Insured</B> terminates this <B>Bond</B>
as to any <B>Investment Company</B>, the effective date of termination shall be not less than sixty (60)&nbsp;days from the date the <B>Insurer</B> provides written notice of the termination to each such <B>Investment Company</B> terminated thereby
and to the Securities and Exchange Commission, Washington, D.C. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This <B>Bond</B> will terminate as to any <B>Insured</B> that is a
<B>Non-Fund</B> immediately and without notice upon (1)&nbsp;the takeover of such <B>Insured&#146;s</B> 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 <B>Insured</B>, or assignment for the benefit of creditors of the <B>Insured</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 21 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Premiums are earned until the effective date of termination. The <B>Insurer</B> shall refund the
unearned premium computed at short rates in accordance with the <B>Insurer&#146;s</B> standard short rate cancellation tables if this <B>Bond</B> is terminated by the <B>Insured</B> or pro rata if this <B>Bond</B> is terminated by the
<B>Insurer</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Upon the detection by any <B>Insured</B> that an <B>Employee</B> has committed any <B>Dishonest or Fraudulent Act(s)</B>
or <B>Theft</B>, the <B>Insured</B> shall immediately remove such <B>Employee</B> from a position that may enable such <B>Employee</B> to cause the <B>Insured</B> to suffer a loss by any subsequent <B>Dishonest or Fraudulent Act(s)</B> or
<B>Theft</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For purposes of this section, detection occurs when any partner, officer, or supervisory employee of any <B>Insured</B>,
who is not in collusion with such <B>Employee</B>, becomes aware that the <B>Employee</B> has committed any <B>Dishonest or Fraudulent Act(s)</B> or <B>Theft</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This <B>Bond</B> shall terminate as to any <B>Employee</B> by written notice from the <B>Insurer</B> to each <B>Insured</B> and, if such
<B>Employee</B> is an <B>Employee</B> of an <B>Insured Investment Company</B>, to the Securities and Exchange Commission, in all cases not less than sixty (60)&nbsp;days prior to the effective date of termination specified in such notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 14.&nbsp;&nbsp;RIGHTS AFTER TERMINATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">At any time prior to the effective date of termination of this <B>Bond</B> as to any <B>Insured</B>, such <B>Insured</B> may, by written
notice to the <B>Insurer</B>, elect to purchase the right under this <B>Bond</B> to an additional period of twelve (12)&nbsp;months within which to discover loss sustained by such <B>Insured</B> prior to the effective date of such termination and
shall pay an additional premium therefor as the <B>Insurer</B> may require. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Such additional discovery period shall terminate immediately
and without notice upon the takeover of such <B>Insured</B>&#146;s business by any State or Federal official or agency, or by any receiver or liquidator. Promptly after such termination the <B>Insurer</B> shall refund to the <B>Insured</B> any
unearned premium. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" 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 <B>Insured&#146;s </B>business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 15.&nbsp;&nbsp;CENTRAL
HANDLING OF SECURITIES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The <B>Insurer</B> shall not be liable for loss in connection with the central handling of securities within
the systems established and maintained by any <B>Depository</B> (<B>&#147;Systems&#148;</B>), unless the amount of such loss exceeds the amount recoverable or recovered under any bond or policy or participants&#146; fund insuring the
<B>Depository</B> against such loss (the <B>&#147;Depository&#146;s Recovery&#148;</B>); in such case the <B>Insurer</B> shall be liable hereunder only for the <B>Insured&#146;s</B> share of such excess loss, subject to the applicable <B>Limit of
Liability</B>, the <B>Deductible Amount</B> and the other terms of this <B>Bond</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For determining the <B>Insured&#146;s</B> share of
such excess loss, (1)&nbsp;the <B>Insured</B> shall be deemed to have an interest in any certificate representing any security included within the <B>Systems</B> equivalent to the interest the <B>Insured</B> then has in all certificates representing
the same security included within the <B>Systems</B>; (2)&nbsp;the <B>Depository</B> shall have reasonably and fairly apportioned the <B>Depository&#146;s Recovery</B> among all those having an interest as recorded by appropriate entries in the
books and records of the <B>Depository</B> in <B>Property</B> involved in such loss, so that each such interest shall share in the <B>Depository&#146;s Recovery</B> in the ratio that the value of each such interest bears to the total value of all
such interests; and (3)&nbsp;the <B>Insured&#146;s</B> share of such excess loss shall be the amount of the <B>Insured&#146;s</B> interest in such <B>Property</B> in excess of the amount(s) so apportioned to the <B>Insured</B> by the
<B>Depository</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 22 of 28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This <B>Bond</B> does not afford coverage in favor of any <B>Depository</B> or <B>Exchange</B> or
any nominee in whose name is registered any security included within the <B>Systems</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 16.&nbsp;&nbsp;ADDITIONAL COMPANIES
INCLUDED AS INSURED </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">If more than one entity is named as the <B>Insured</B>: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">A.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the total liability of the <B>Insurer</B> hereunder for each <B>Single Loss</B> shall not exceed the <B>Limit of Liability</B> which would be
applicable if there were only one named <B>Insured</B>, regardless of the number of <B>Insured</B> entities which sustain loss as a result of such <B>Single Loss</B>, </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">B.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the <B>Insured</B> first named in Item&nbsp;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 <B>Insured</B> for such purposes and for the giving or receiving of any notice required or permitted to be given hereunder; provided, that the <B>Insurer</B> shall promptly furnish each
named <B>Insured Investment Company</B> with (1)&nbsp;a copy of this <B>Bond</B> and any amendments thereto, (2)&nbsp;a copy of each formal filing of a claim hereunder by any other <B>Insured</B>, and (3)&nbsp;notification of the terms of the
settlement of each such claim prior to the execution of such settlement, </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">C.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the <B>Insurer</B> shall not be responsible or have any liability for the proper application by the <B>Insured</B> first named in Item&nbsp;1 of
the Declarations of any payment made hereunder to the first named <B>Insured</B>, </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">D.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">for the purposes of Section&nbsp;4, knowledge possessed or discovery made the <B>Responsible Officer </B>shall constitute knowledge or discovery by
every named <B>Insured</B>, </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">E.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">if the first named <B>Insured</B> ceases for any reason to be covered under this <B>Bond</B>, then the <B>Insured</B> next named shall thereafter
be considered as the first named <B>Insured</B> for the purposes of this <B>Bond</B>, and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">F.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">each named <B>Insured</B> shall constitute the<B> &#147;Insured&#148;</B> for all purposes of this <B>Bond</B>. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 17. NOTICE AND CHANGE OF CONTROL </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Within thirty (30)&nbsp;days after learning that there has been a change in <B>Control</B> of an <B>Insured</B> by transfer of its outstanding
voting securities the <B>Insured</B> shall give written notice to the <B>Insurer</B> of: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">A.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the names of the transferors and transferees (or the names of the beneficial owners if the voting securities are registered in another name), and
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">B.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the total number of voting securities owned by the transferors and the transferees (or the beneficial owners), both immediately before and after
the transfer, and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">C.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">the total number of outstanding voting securities. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">As used in this Section, <B>&#147;Control&#148;</B> means the power to exercise a controlling influence over the management or policies of the
<B>Insured</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 23 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 18.&nbsp;&nbsp;CHANGE OR MODIFICATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This <B>Bond</B> may only be modified by written Rider forming a part hereof over the signature of the <B>Insurer&#146;s</B> authorized
representative. Any Rider which modifies the coverage provided by Insuring Agreement A, Fidelity, in a manner which adversely affects the rights of an <B>Insured Investment Company</B> shall not become effective until at least sixty (60)&nbsp;days
after the <B>Insurer</B> has given written notice thereof to the Securities and Exchange Commission, Washington, D.C., and to each <B>Insured Investment Company</B> affected thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 19.&nbsp;&nbsp;DISPUTES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Any disputes in connection with the coverage afforded by this policy that cannot be resolved between the <B>Insured</B> and <B>Insurer</B>
within fourteen (14)&nbsp;days of that dispute first arising shall be submitted to the American Arbitration Association under and in accordance with its then prevailing commercial arbitration rules. It is further understood and agreed that the
arbitration will be held in New York, U.S.A. and that the awards rendered by the arbitrator(s) shall be final and binding upon the parties and judgement thereon may be entered in any court having jurisdiction thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 20.&nbsp;&nbsp;HEADINGS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">The descriptions in the headings and any subheading of this <B>Bond</B> (including any titles given to any riders attached hereto) are
inserted solely for convenience and do not constitute any part of the terms or conditions hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 24 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>RIDER NO. 1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>DEDUCTIBLE WAIVER RIDER </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">In consideration of the premium
charged for this <B>Bond</B>, 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 <B>Forgery</B> of a
signature on the following documents: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">letter requesting redemption of USD50,000 or less payable by check to the shareholder of record and addressed to the address of record; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">letter requesting redemption of USD50,000 or less by wire transfer to the record shareholder&#146;s bank account of record; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">written request to a trustee or custodian for a Designated Retirement Account (<B>&#147;DRA&#148;</B>) which holds shares of an <B>Insured
Fund</B>, where such request (a)&nbsp;purports to be from or at the instruction of the <B>Owner</B> of such <B>DRA</B>, and (b)&nbsp;directs such trustee or custodian to transfer USD50,000 or less from such <B>DRA</B> to a trustee or custodian for
another <B>DRA</B> established for the benefit of such <B>Owner</B>, </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">provided, that the Limit of Liability for a
<B>Single Loss</B> as described above shall be USD50,000 and that the <B>Insured</B> shall bear twenty per cent (20%)&nbsp;of each such loss. This Rider shall not apply in the case of any such <B>Single Loss</B> which exceeds USD50,000; in such case
the Deductible Amounts and Limits of Liability set forth in Item&nbsp;3 of the Declarations shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For purposes of this Rider:
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B>&#147;Designated Retirement Account&#148;</B> means any retirement plan or account described or qualified under the Internal Revenue Code of
1986, as amended, or a subaccount thereof. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top"><B>&#147;Owner&#148;</B> means the individual for whose benefit the <B>DRA</B>, or a subaccount thereof, is established. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this <B>Bond</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 25 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>RIDER NO. 2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>THIRD PARTY CHECK RIDER </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">In consideration of the premium
charged for this <B>Bond</B>, it is hereby understood and agreed that this <B>Bond</B> does not cover any loss resulting from or in connection with the acceptance of any <B>Third Party Check</B>, unless </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">such <B>Third Party Check</B> is used to open or increase an account which is registered in the name of one or more of the payees on such <B>Third
Party Check</B>, and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">reasonable efforts are made by the <B>Insured</B>, or by the entity receiving <B>Third Party Checks</B> on behalf of the <B>Insured</B>, to verify
all endorsements on all <B>Third Party Checks</B> made payable in amounts greater than USD100,000 (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 <B>Bond</B>), </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">and then only to the extent such loss is otherwise covered under this <B>Bond</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For purposes of this Rider, <B>&#147;Third Party Check&#148;</B> means a check made payable to one or more parties and offered as payment to
one or more other parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">It is further understood and agreed that notwithstanding anything to the contrary above or elsewhere in the
<B>Bond</B>, this <B>Bond</B> does not cover any loss resulting from or in connection with the acceptance of a <B>Third Party Check</B> where: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">any payee on such <B>Third Party Check</B> reasonably appears to be a corporation or other entity; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">such<B> Third Party Check</B> is made payable in an amount greater than USD100,000 and does not include the purported endorsements of all payees on
such <B>Third Party Check</B>. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" 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 (Fidelity). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Except as above stated, nothing herein shall be held to alter,
waive or extend any of the terms of this <B>Bond</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 26 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>RIDER NO. 3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>DEDUCTIBLE WAIVER RIDER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">In consideration for the premium charged for this <B>Bond</B>, it is hereby understood and agreed that, with respect to Insuring Agreement I
only, the Deductible Amount set forth in Item&nbsp;3 of the Declarations (<B>&#147;Phone/Electronic Deductible&#148;</B>) shall not apply with respect to a <B>Single Loss</B>, otherwise covered by Insuring Agreement I (Phone/Electronic
Transactions), caused by: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">a<B> Phone/Electronic Redemption</B> requested to be paid or made payable by check to the <B>Shareholder or Record</B> at the address of record; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt">a<B> Phone/Electronic Redemption</B> requested to be paid or made payable by wire transfer to the <B>Shareholder or Record&#146;s</B> bank account
of record, </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">provided, that the <B>Limit of Liability</B> for a <B>Single Loss</B> as described in (1)&nbsp;or
(2)&nbsp;above shall be the lesser of eighty per cent (80%)&nbsp;of such loss or USD40,000 and that the <B>Insured</B> shall bear the remainder of each such Loss. This Rider shall not apply if the application of the Phone/Electronic Deductible to
the <B>Single Loss</B> would result in coverage of greater than USD40,000 or more; in such case the Phone-initiated Deductible and Limit of Liability set forth in Item&nbsp;3 of the Declarations shall control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">For purposes of this Rider, <B>&#147;Phone/Electronic Redemption&#148;</B> means any redemption of shares issued by an <B>Investment
Company</B>, which redemption is requested (a)&nbsp;by voice over the telephone, (b)&nbsp;through an automated telephone tone or voice response system or (c)&nbsp;by <B>Telefacsimile</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this <B>Bond</B>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 27 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>RIDER NO. 4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>TRIA RIDER </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Most property and casualty
insurers, including the <B>Insurer</B>, are subject to the requirements of the Terrorism Risk Insurance Act of 2002, as amended (the <B>&#147;Act&#148;</B>). The <B>Act</B> establishes a Federal insurance backstop under which the <B>Insurer</B> and
these other insurers will be partially reimbursed for future <B>&#147;insured losses&#148;</B> resulting from certified<B> &#147;acts of terrorism&#148;</B>. (Each of these <B>bolded terms </B>is defined by the Act.) The <B>Act</B> also places
certain disclosure and other obligations on the <B>Insurer</B> and these other insurers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">Pursuant to the <B>Act</B>, any future losses to
the <B>Insurer</B> caused by certified <B>&#147;acts of terrorism&#148;</B> will be partially reimbursed by the United States government under a formula established by the <B>Act</B>. Under this formula, the United States government will reimburse
the <B>Insurer</B> for ninety per cent (90%)&nbsp;of the <B>Insurer&#146;s &#147;insured losses&#148;</B> in excess of a statutorily established deductible until total insured losses of all participating insurers reach USD100 billion. If total
<B>&#147;insured losses&#148;</B> of all property and casualty insurers reach USD100 billion during any applicable period, the <B>Act</B> 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 <B>Bond</B> may be reduced as a result. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="justify">This <B>Bond</B> has no express
exclusion for <B>&#147;acts of terrorism&#148;</B> However, coverage under this <B>Bond</B> remains subject to all applicable terms, conditions and limitations of the <B>Bond</B> (including exclusions) that are permissible under the <B>Act</B>. The
portion of the premium that is attributable to any coverage potentially available under the <B>Bond</B> for <B>&#147;acts of terrorism&#148;</B> is one percent (1%). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">Page 28 of 28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>THE INDIA FUND, INC. </B></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECRETARY&#146;S CERTIFICATE </B></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">October&nbsp;30, 2015 </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The
undersigned, Megan Kennedy, Secretary of The India Fund, Inc. (the &#147;Fund&#148;), hereby certifies that set forth below is a copy of the resolutions duly adopted by the Board of Directors of the Fund on July&nbsp;28, 2015, and that said
resolutions continue in full force and effect: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; margin-left:6%; margin-right:6%; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>FURTHER RESOLVED,</B> that the Board of Directors of
the Fund, including all the Directors who are not &#147;interested persons&#148; of the Fund (as that term is defined by Rule 2(a)(19) under the 1940 Act), hereby determines that a fidelity bond issued by Axis Specialty Europe SE, covering officers
and employees of the Fund for the period November&nbsp;1, 2015 to November&nbsp;1, 2016 in accordance with the requirements of Rule 17g-1 promulgated by the Securities and Exchange Commission under Section&nbsp;17(g) of the 1940 Act, in the amount
of $1,250,000 is reasonable in form and amount, after having given due consideration to the value of the aggregate assets of the Fund to which any such covered person may have access, the type and terms of the arrangements made for the custody and
safekeeping of such assets and the nature of the securities in the Fund&#146;s portfolio; and it is </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; margin-left:6%; margin-right:6%; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>FURTHER RESOLVED</B>, that each of the officers of the Fund are hereby designated to make all filings with
the Securities and Exchange Commission and to give all notices on behalf of the Fund required by paragraph (g)&nbsp;of Rule 17g-1 promulgated under the 1940 Act. </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">[<I>Signature page follows</I>] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:12pt; font-family:Times New Roman">IN WITNESS WHEREOF, the undersigned has executed this Secretary&#146;s Certificate as of the
date first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


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<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="29%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><U>/s/ Megan Kennedy&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Megan Kennedy</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Secretary</TD></TR>
</TABLE>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
