<SEC-DOCUMENT>0001104659-20-030632.txt : 20200309
<SEC-HEADER>0001104659-20-030632.hdr.sgml : 20200309
<ACCEPTANCE-DATETIME>20200309132301
ACCESSION NUMBER:		0001104659-20-030632
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20191231
FILED AS OF DATE:		20200309
DATE AS OF CHANGE:		20200309
EFFECTIVENESS DATE:		20200309

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:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08266
		FILM NUMBER:		20697340

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		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>N-CSR
<SEQUENCE>1
<FILENAME>a20-3426_3ncsr.htm
<DESCRIPTION>N-CSR
<TEXT>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">UNITED STATES</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Washington, D.C. 20549</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">FORM&nbsp;N-CSR</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT<br> INVESTMENT COMPANIES</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Investment Company Act file   number:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">811-08266</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Exact name of registrant   as specified in charter:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Address of principal   executive offices:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1900 Market Street,   Suite&nbsp;200</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Philadelphia, PA 19103</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Name and address of agent   for service:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Ms.&nbsp;Andrea Melia</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Aberdeen Standard   Investments Inc.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1900 Market Street   Suite&nbsp;200</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Philadelphia, PA 19103</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Registrant&#146;s telephone   number, including area code:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">800-522-5465</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date of fiscal year end:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">December&nbsp;31</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date of reporting period:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 1 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Reports to Stockholders &#150;</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Report to Shareholders is attached herewith.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial"><img width="719" height="852" src="g34263bi01i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Managed Distribution Policy</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Board of Directors of The India Fund,&nbsp;Inc. (the &#147;Fund&#148;) has authorized a managed distribution policy (&#147;MDP&#148;) of paying quarterly distributions at an annual rate, set once a year, that is a percentage of the average daily NAV for the previous three months as of the month-end prior to declaration. With each distribution, the Fund will issue a notice to shareholders and an accompanying press release which will provide detailed information regarding the amount and composition of the distribution and other information required by the Fund&#146;s MDP exemptive order. The Fund&#146;s Board of Directors may amend or terminate the MDP at any time without prior notice to shareholders; however, at this time, there are no reasonably foreseeable circumstances that might cause the termination of the MDP. You should not draw any conclusions about the Fund&#146;s investment performance from the amount of distributions or from the terms of the Fund&#146;s MDP.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Distribution Disclosure Classification</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund&#146;s policy is to provide investors with a stable distribution rate. Each quarterly distribution will be paid out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund is subject to U.S. corporate, tax and securities laws. Under U.S. tax rules, the amount applicable to the Fund and the character of distributable income for each fiscal period depends on the actual exchange rates during the entire year between the U.S. Dollar and the currencies in which Fund assets are denominated and on the aggregate gains and losses realized by the Fund during the entire year.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Therefore, the exact amount of distributable income for each fiscal year can only be determined as of the end of the Fund&#146;s fiscal year, December&nbsp;31, 2019. Under Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;), the Fund is required to indicate the sources of certain distributions to shareholders. The estimated distribution composition may vary from quarter to quarter because it may be materially impacted by future income, expenses and realized gains and losses on securities and fluctuations in the value of the currencies in which Fund assets are denominated.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Based on generally accepted accounting principles (GAAP), the Fund estimates the distributions for the fiscal year commenced January&nbsp;1, 2019 through the distribution paid on January&nbsp;10, 2020 consisted of 1% net investment income and 99% net realized gains.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">In January&nbsp;2020, a Form&nbsp;1099-DIV was sent to shareholders, which stated the amount and composition of distributions and provided information with respect to their appropriate tax treatment for the 2019 calendar year.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Letter to Shareholders</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<div><div style="float:left;margin:right=3%;position:relative;width:47%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Dear Shareholder,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">We present this Annual Report which covers the activities of The India Fund,&nbsp;Inc. (the &#147;Fund&#148;) for the fiscal year ended December&nbsp;31, 2019. The Fund&#146;s investment objective is long-term capital appreciation, which the Fund seeks to achieve by investing primarily in the equity securities of Indian companies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Change in Primary Benchmark</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">At a meeting held on February&nbsp;19, 2020, the Fund&#146;s Board of Directors approved a change in the Fund&#146;s primary benchmark from the Morgan Stanley Capital International (&#147;MSCI&#148;) India Index (Gross Dividends) to the MSCI India Index (Net Dividends). The change from a gross to a net dividend benchmark is in line with industry practice and is more appropriate for the Fund, as it is also calculated net of withholding taxes, to which the Fund is generally subject. The change in benchmark does not affect the investment objective of the Fund, nor the way in which the portfolio is managed.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Total Investment Return</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">For the fiscal year ended December&nbsp;31, 2019, the total return to shareholders of the Fund based on the net asset value (&#147;NAV&#148;) and market price, respectively, of the Fund compared to the Fund&#146;s benchmark are as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
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<tr>
<td width="73%" valign="top" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:73.62%;">
<p style="margin:2.0pt 0in 2.0pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:3.56%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:18.74%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">1 Year</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="73%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:73.62%;">
<p style="margin:2.0pt 0in 2.0pt 15.85pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">NAV*</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:3.56%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:18.74%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.7%</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="73%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:73.62%;">
<p style="margin:2.0pt 0in 2.0pt 15.85pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Market Price*</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:3.56%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:18.74%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10.9%</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="73%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:73.62%;">
<p style="margin:2.0pt 0in 2.0pt 15.85pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">MSCI India Index (Gross Dividends)<font style="position:relative;top:-5.0pt;">1</font></font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:3.56%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:18.74%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7.6%</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="73%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:73.62%;">
<p style="margin:2.0pt 0in 2.0pt 15.85pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">MSCI India Index (Net Dividends)<font style="position:relative;top:-5.0pt;">1</font></font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:3.56%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.74%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7.6%</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">* assuming the reinvestment of all dividends and&nbsp;distributions</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund&#146;s total return is based on the reported NAV for each financial reporting period end and may differ from what is reported on the Financial Highlights due to financial statement rounding or adjustments. For more information about Fund performance please see the Report of the Investment Manager on page&nbsp;4.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">NAV, Market Price and Discount</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The below table represents comparison from current fiscal year end to prior fiscal year of Market Price to NAV and associated discount.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
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<tr>
<td width="28%" valign="top" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:28.56%;">
<p style="margin:2.0pt 0in 2.0pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:3.58%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="17%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:17.32%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">NAV</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="23%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:23.76%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Closing<br>   Market Price</font></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:3.04%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="17%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:17.0%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Discount</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="28%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:28.56%;">
<p style="margin:2.0pt 0in 2.0pt 15.85pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">12/31/2018</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:3.58%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:17.32%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$23.84</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="23%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:23.76%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$20.24</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:3.04%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:17.0%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">15.1%</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.56%;">
<p style="margin:2.0pt 0in 2.0pt 15.85pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">12/31/2019</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:3.58%;">
<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$22.60</font></p>    </td>
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<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="23%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.76%;">
<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$20.13</font></p>    </td>
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<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:2.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10.9%</font></p>    </td>
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<p style="margin:2.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:1.0pt;line-height:120%;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Throughout the fiscal year ended December&nbsp;31, 2019, the Fund&#146;s NAV was within a range of $24.73 to $21.87 and the Fund&#146;s market price traded within a range $22.00 to $19.52. Throughout the fiscal year ended December&nbsp;31, 2019, the Fund&#146;s shares traded within a range of discount of 8.4% to 14.7%.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Managed Distribution Policy</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund has a managed distribution policy of paying quarterly distributions at an annual rate, set once a year, that is a percentage of the rolling average of the Fund&#146;s prior four quarter-end net asset values. In February&nbsp;2019, the Board of Directors of the Fund (the &#147;Board&#148;) determined the rolling distribution rate to be 10% for the 12-month period commencing with the distribution payable in March&nbsp;2019. This policy will be subject to regular review by the Board. The distributions will be made from current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital, which is a nontaxable return of capital. In February&nbsp;2020, the Board determined the rolling rate to be 10% for the 12-month period commencing with the distribution payable in March&nbsp;2020.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund is covered under exemptive relief received by the Fund&#146;s investment manager from the U.S. Securities and Exchange Commission (SEC) that allows the Fund to distribute long-term capital gains as frequently as monthly in any one taxable year.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Indian Budget Changes</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">On July&nbsp;5, 2019, the Finance Minister of India (FM) presented the Union Budget 2019, proposing various amendments to the Indian tax laws. The FM announced the intent to raise the levy of surcharge on base tax rates in relation to high net-worth individuals. The finance bill proposes to increase the rate of surcharge for all non-corporate and non-firm assets. The increased surcharge will be levied on income/ gains from April&nbsp;1, 2019. As the Fund is registered in India as a corporate entity, the proposed increase will not affect the Fund. On August&nbsp;24, 2019, the India Central Board of Direct Taxes announced that non-corporate foreign portfolio investors are exempt from higher surcharge rates.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Indian 2020 Budget was presented by the FM with a proposal that stated effective 1 April&nbsp;2020, dividends are now proposed to be taxed in the hands of the shareholder, which means 20% tax (plus surcharge and tax) will be withheld on dividend payments (potentially reduced by treaty if applicable). Currently,&nbsp;Indian companies pay the tax rate prior to the distribution of the dividend to the shareholder. Management is still evaluating the effect this will have on the Fund.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt .1in;text-align:justify;text-indent:-.1in;"><font size="1" face="Arial" style="font-size:8.5pt;line-height:130%;">1 The MSCI India Index (Net Dividends) is designed to measure the performance of the large and mid-cap segments of the Indian market. With 84 constituents, the index covers approximately 85% of the Indian equity universe. The MSCI India Index (Net Dividends) replaced the MSCI India Index (Gross Dividends) as the Fund&#146;s primary benchmark. The change from a gross to a net dividend benchmark is in line with industry practice and is more appropriate for the Fund, as the returns of the MSCI Emerging Markets Index (Net Dividends) are calculated net of withholding taxes, to which the Fund is generally subject. Indexes are unmanaged and have been provided for comparison purposes only. No fees or expenses are reflected. You cannot invest directly in an index. Index performance is not an indication of the performance of the Fund itself. For complete fund performance, please visit http://www.aberdeenifn.com</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">1</font></b><a name="PB_1_105653_6096"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Letter to Shareholders</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (continued)</font></b></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Open Market Repurchase Program</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Board has authorized Fund management to make open market purchases from time to time in an amount up to 10% of the Fund&#146;s outstanding shares, in accordance with Rule&nbsp;10b-18 under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), and other applicable federal securities laws. Such purchases may be made when, in the reasonable judgment of Fund management, such repurchases may enhance shareholder value. During the fiscal year ended December&nbsp;31, 2019, the Fund repurchased 23,272 shares at a weighted average discount to NAV of 10.6%. During the fiscal year ended December&nbsp;31, 2018, the Fund repurchased 1,054,737 shares at a weighted average discount to NAV of 12.2%. The Fund reports repurchase activity on the Fund&#146;s website on a monthly basis.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Portfolio Holdings Disclosure</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund&#146;s complete schedule of portfolio holdings for the second and fourth quarters of each fiscal year is included in the Fund&#146;s semiannual and annual reports to shareholders. The Fund files its complete schedule of portfolio holdings with the SEC quarterly. The Fund&#146;s full portfolio holdings as of its first and third fiscal quarters (as of the third month of the Fund&#146;s fiscal quarter for reporting periods on or after September&nbsp;30, 2019) will be made publicly available 60 days after the end of each quarter on www.sec.gov. This information is also available to shareholders upon request and without charge by calling Investor Relations toll-free at 1-800-522-5465.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Proxy Voting</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and information regarding how the Fund voted proxies relating to portfolio securities during the most recent twelve months ended June&nbsp;30 is available by August&nbsp;31 of the relevant year: (i)&nbsp;upon request and without charge by calling Investor Relations toll-free at 1-800-522-5465 and (ii)&nbsp;on the SEC&#146;s website at http://www.sec.gov.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Unclaimed Share Accounts</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Please be advised that abandoned or unclaimed property laws for certain states require financial organizations to transfer (escheat) unclaimed property (including Fund shares) to the state. Each state has its own definition of unclaimed property, and Fund shares could be considered &#147;unclaimed property&#148; due to account inactivity (e.g., no owner-generated activity for a certain period), returned mail (e.g., when mail sent to a shareholder is returned to the Fund&#146;s transfer agent as undeliverable), or a combination of both. If your Fund shares are categorized as unclaimed, your financial advisor or the Fund&#146;s transfer agent will follow the applicable state&#146;s statutory requirements to contact you, but if unsuccessful, laws may require that the shares</font></p>

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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">be escheated to the appropriate state. If this happens, you will have to contact the state to recover your property, which may involve time and expense. For more information on unclaimed property and how to maintain an active account, please contact your financial adviser or the Fund&#146;s transfer agent.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Brexit</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The U.K. left the European Union (the &#147;EU&#148;) (&#147;Brexit&#148;) on January&nbsp;31, 2020, subject to a transitional period ending December&nbsp;31, 2020. During the transitional period, although the UK will no longer be a member state of the EU, it will remain subject to EU law and regulations as if it were still a member state. The UK and the EU are to negotiate the terms of their future trading relationship during the transitional period. Accordingly the terms of such trading relationship remain uncertain. The outcome of such negotiations may give rise to significant uncertainties and instability in the financial markets as the U.K. negotiates the terms of its future relationship with the EU.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Whether or not the Fund invests in securities of issuers located in Europe (whether the EU, Eurozone or UK) or with significant exposure to European, EU, Eurozone or UK issuers or countries, the unavoidable uncertainties and events related to Brexit could negatively affect the value and liquidity of the Fund&#146;s investments, increase taxes and costs of business and cause volatility in currency exchange rates and interest rates. Brexit could adversely affect the performance of contracts in existence at the date of Brexit and European, UK or worldwide political, regulatory, economic or market conditions and could contribute to instability in political institutions, regulatory agencies and financial markets. Brexit could also lead to legal uncertainty and politically divergent national laws and regulations as a new relationship between the UK and EU is defined and the UK determines which EU laws to replace or replicate. Any of these effects of Brexit, and others that cannot be anticipated, could adversely affect the Fund&#146;s business, results of operations and financial condition. In addition, the risk that Standard Life Aberdeen plc, the parent of the company that provides investment advisory services to the Fund and which is headquartered in the UK, fails to adequately prepare for Brexit could have significant customer, reputation and capital impacts for Standard Life Aberdeen plc and its subsidiaries, including those providing services to the Fund; however, Standard Life Aberdeen plc and its subsidiaries have detailed contingency planning in place to seek to manage the consequences of Brexit on the Fund and to avoid any disruption on the Fund and to the services they provide. Given the fluidity and complexity of the situation, however, we cannot provide assurance that the Fund will not be adversely impacted despite these preparations.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">2</font></b><a name="PB_2_110520_6029"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund,&nbsp;Inc.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Letter to Shareholders</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (concluded)</font></b></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Investor Relations Information</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">As part of Aberdeen Standard&#146;s commitment to shareholders, we invite you to visit the Fund on the web at www.aberdeenifn.com. Here, you can view monthly fact sheets, quarterly commentary, distribution performance information, updated daily data courtesy of Morningstar</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:130%;position:relative;top:-5.0pt;">&#174;</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">, portfolio charting and other Fund literature.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Enroll in Aberdeen Standard&#146;s email services today and be among the first to receive the latest closed-end fund news, announcements, videos and information. In addition, you can receive electronic versions of important Fund documents including annual reports, semi-annual reports, prospectuses, and proxy statements. Sign up today at https://www.aberdeenstandard.com/en-us/cefinvestorcenter/ contact-us/email-services.</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Contact Us:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in .5in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Arial" style="font-size:9.0pt;">&#149;</font><font size="1" face="Arial" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Arial" style="font-size:9.5pt;">Visit: https://www.aberdeenstandard.com/en-us/cefinvestorcenter;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Arial" style="font-size:9.0pt;">&#149;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Arial" style="font-size:9.5pt;">Email: Investor.Relations@aberdeenstandard.com; or</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&#149;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Arial" style="font-size:9.5pt;">Call: 1-800-522-5465 (toll-free in the U.S.).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Yours sincerely,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">/s/ Alan R. Goodson</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Alan R. Goodson</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">President</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">All amounts are U.S. Dollars unless otherwise stated.</font></b></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">3</font></b><a name="PB_3_110657_5335"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Report of the Investment Manager</font></b></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Market review</font></b></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Indian equities, as measured by the Morgan Stanley Capital International (MSCI) India Index (Net Dividends),</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:130%;position:relative;top:-5.0pt;">1</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">&#160;returned 7.6% for the 12-month period ended December&nbsp;31, 2019, despite a slowdown in consumer spending, lackluster capital expenditure and a liquidity crunch caused by non-banking financial companies. We believe investor sentiment was lifted by the Indian government&#146;s slew of policy measures in an effort to revive the economy. These measures included a significant corporate tax cut, financial assistance for distressed lenders and housing projects, and accelerated sales of state-owned holdings to shore up fiscal coffers. Successive interest-rate cuts by the Reserve Bank of India also began to take effect in the fourth quarter of 2019, after government regulators compelled banks to lower their lending rates.</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The energy sector led the advance in the market for the reporting period, buoyed by MSCI India Index heavyweight Bharat Petroleum Corp. Ltd. (which the Fund does not hold) on news of its privatization. Indian banks benefited from a solid rebound in earnings for the quarter ended September&nbsp;30, 2019, following the corporate tax cut, which also improved borrowers&#146; creditworthiness. The government&#146;s rescue package for non-bank lenders also buoyed the market. Financial stocks were further lifted by expectations that loan reform would boost demand for new homes and cars, as well as education and consumer durables. Information technology stocks also performed well over the reporting period, supported by increased demand from migration of applications to cloud, cyber security and analytics.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Fund performance review</font></b></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The India Fund returned 5.7%</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:130%;position:relative;top:-5.0pt;">2</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">&#160;on a net asset value basis for the 12-month period ended December&nbsp;31, 2019, underperforming the 7.6% return of its benchmark, the MSCI India Index (Net Dividends).</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The lack of exposure to Reliance Industries Ltd. detracted from Fund performance for the reporting period. Shares of the oil-telecommunications conglomerate advanced as its mobile phone unit, Reliance Jio, performed well amid the telecommunications sector consolidation and the company made further progress in its ecommerce strategy. The Fund does not have a position in Reliance Industries despite the conglomerate&#146;s business expansion due to our current view on its governance standards, aggressive capital spending, and restricted free cash flow.</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Overall stock selection in the consumer staples and consumer discretionary sectors weighed on Fund performance for the period, as these companies were hampered by the economic slowdown in India. This weighed particularly heavily on household products maker Jyothy Laboratories Ltd., while the stock price of cigarette-maker ITC Holdings Corp. retreated on investors&#146; worries that an excise tax hike and loss of market share would hurt its business. In the consumer discretionary sector, slower financing and stricter regulations hindered the auto industry. Motorcycle manufacturer Hero Motocorp was among the market laggards, and we reduced the Fund&#146;s exposure to the company. Conversely, the absence of a position in multi-national automaker Mahindra&nbsp;&amp; Mahindra benefited Fund performance.</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The Fund&#146;s holding in packaged food producer Nestle India contributed positively to Fund performance for the reporting period, as the market leader defied the slowdown in consumer spending. Although there are near-term uncertainties, our focus on what we believe are well-run companies positioned to gain market share in a consolidating industry should contribute to sustainable returns over time, in our view.</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Fund performance for the period also was supported by strong stock selection in the financials sector, particularly Kotak Mahindra Bank Ltd. and HDFC Bank Ltd. We favor these well-capitalized private-sector lenders, which we believe have experienced management, solid deposit bases and robust balance sheets, and are better placed to navigate the liquidity squeeze. The companies&#146; stock prices advanced on positive results over the reporting period, and Kotak Mahindra Bank continued to see solid growth in its retail segment. Fund performance also was enhanced by the lack of exposure to lenders challenged by bad debt and insufficient capital, including Yes Bank and Indiabulls Housing Finance Ltd. The Fund&#146;s holding in SBI Life Insurance Co. Ltd. performed well over the period, as the leading domestic private-sector life insurer continued to achieve growth in new business premiums and assets under management.</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">However, the liquidity crisis continued to pressure many state-owned banks and non-bank lenders. Smaller companies suffered, including the Fund&#146;s holding in Piramal Enterprises Ltd., which we still believe is one of the stronger non-bank lenders. Although Piramal Enterprises is classified as a healthcare stock, the company actually has sold a large part of its pharmaceutical business and now derives most of its revenues from financial services. We remain comfortable with the</font></p>
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<p style="font-size:10.0pt;line-height:130%;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">1</font><font face="Arial" style="line-height:130%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The MSCI India Index (Net Dividends) tracks the performance of the large- and mid-cap segments of the Indian equity market. Indexes are unmanaged and have been provided for comparison purposes only. No fees or expenses are reflected. You cannot invest directly in an index.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><i style="font-weight:bold;">Past performance is no guarantee of future results. Investment returns and principal value will fluctuate and shares, when sold, may be worth more or less than original cost. Current performance may be lower or higher than the</i></b></font><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;line-height:130%;">  </font></b><b><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;font-weight:bold;line-height:130%;">performance quoted. Net asset value return data include investment management fees, custodial charges and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions.</font></i></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund,&nbsp;Inc.</font></p>    </td>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Report of the Investment Manager</font></b><font face="Arial">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(concluded)</font></b></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Fund&#146;s position in Piramal Enterprises, given its edge in raising capital to strengthen its balance sheet. Additionally, Fund performance was hampered by the absence of a position in ICICI Bank Ltd. The share price of ICICI Bank Ltd., which has strong access to the deposit market, rose during the period on progress in improving its asset quality and strengthening its balance sheet, and we believe that the company is now positioned for growth.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Both the Fund&#146;s overweight position and stock selection in the property sector contributed to performance for the reporting period. Shares of the Fund&#146;s holdings in Prestige Estates Projects Ltd. and Godrej Properties Ltd. rose on investors&#146; optimism over the raft of government stimulus that included tax and capital-gains incentives, funding assistance for cash-strapped housing projects, and loan reform. The stimulus also benefited the Fund&#146;s holding in the materials sector, Asian Paints Ltd., a market leader in decorative paints that continued to benefit from India&#146;s urbanization over the reporting period.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Outlook</font></b></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">In our opinion, the Indian stock market will likely remain volatile in the short term due to concerns over the solvency of the non-bank financial sector, as well as slowing domestic economic growth, particularly with consumer sentiment dampened by protests over the controversial Citizenship (Amendment) Act. While lower corporate taxes, interest-rate cuts and improved credit flow to the higher-quality non-bank financial firms may prove to be mitigating factors, we believe that more needs to be done to boost consumer and business confidence.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Over the longer term, we think that India has many structural positives, including a young, growing middle-class and, in our view, a sizable domestic market that is home to some of the strongest companies in the region. Many of the Fund&#146;s holdings see opportunities to gain market share from their weaker peers amid challenges faced by the economy. We believe that our focus on</font></p>
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</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">identifying those companies with deep business moats,</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:130%;position:relative;top:-5.0pt;">3</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">&#160;clear earnings drivers and prudent capital management should deliver sustainable returns over time.</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:130%;position:relative;top:-5.0pt;">4</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Coronavirus update</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Since the start of January&nbsp;2020, global financial markets have been monitoring and reacting to the novel coronavirus (2019-nCoV) that is believed to have originated in Wuhan, China. As of late February&nbsp;2020, the virus has sickened more than 80,000 people in at least 33 countries, with most confirmed cases concentrated in mainland China.</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:130%;position:relative;top:-5.0pt;">5</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">&#160;While containment efforts have helped to slow the growth of the virus in mainland China, in late February&nbsp;2020, global financial markets reacted sharply to the news that the virus continued to spread into South Korea,&nbsp;Italy and Iran, as well as concerns regarding the economic impact this may have on a global scale. Factories around the world are grappling with parts shortages as their Chinese suppliers struggle to resume normal operations. China&#146;s leaders postponed the biggest event on their political calendar, the National People&#146;s Congress, as the country&#146;s battle against the virus, which has hampered the domestic economy. The eventual impact on the global economy and markets will largely depend upon the scale and the duration of the outbreak. The Fund management team continues to monitor this situation closely.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Aberdeen Standard Investments (Asia) Limited</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Risk Considerations</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">Past performance is not an indication of future results. International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political developments, and differences in accounting methods. Concentrating investments in the India region subjects the Fund to more volatility and a greater risk of loss than otherwise comparable geographically diverse funds. Equity stocks of small and mid-cap companies carry greater risk and more volatility than equity stocks of larger, more established companies.</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;">3</font><font face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">A moat is a distinct advantage a company has over its competitors which allows it to protect its market share and profitability.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;">4</font><font face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">Forecasts and estimates are offered as the Fund&#146;s opinion and views of the portfolio manager at the time of this report and are subject to change. Forecasts and estimates are not reflective of potential performance and are not guaranteed. Actual events or results may differ materially.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;">5</font><font face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">&#147;Economy Faces a Coronavirus Challenge as Markets Swoon.&#148; The New York Times. Feb.&nbsp;24, 2020.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.02%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">5</font></b><a name="PB_5_121004_5335"></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Total Investment Returns</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
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<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:9.0pt;line-height:130%;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:9.0pt;line-height:130%;">The following table summarizes the average annual Fund total investment return compared to the Fund&#146;s benchmark, the MSCI India Index, for the 1-year, 3-year, 5-year and 10-year periods as of December&nbsp;31, 2019.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="41%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;padding:0in 0in 0in 0in;width:41.0%;">
<p style="margin:3.0pt 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:3.0pt 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;padding:0in 0in 0in 0in;width:10.92%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">1&nbsp;Year</font></b></p>    </td>
<td width="14%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;padding:0in 0in 0in 0in;width:14.08%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">3&nbsp;Years</font></b></p>    </td>
<td width="13%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;padding:0in 0in 0in 0in;width:13.58%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">5&nbsp;Years</font></b></p>    </td>
<td width="17%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;padding:0in 0in 0in 0in;width:17.92%;">
<p align="right" style="margin:3.0pt .25in .0001pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">10&nbsp;Years</font></b></p>    </td>   </tr>
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<td width="41%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:41.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:10.92%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:13.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="17%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:17.92%;">
<p align="right" style="margin:0in .25in .0001pt 0in;text-align:right;"><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="41%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:41.0%;">
<p style="margin:4.0pt 0in .0001pt 15.85pt;text-align:justify;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net Asset Value (NAV)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:10.92%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.7%</font></p>    </td>
<td width="14%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:14.08%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12.1%</font></p>    </td>
<td width="13%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:13.58%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">6.8%</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:17.92%;">
<p align="right" style="margin:4.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.9%</font></p>    </td>   </tr>
<tr>
<td width="41%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:41.0%;">
<p style="margin:2.0pt 0in .0001pt 15.85pt;text-align:justify;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Market Price</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:10.92%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10.9%</font></p>    </td>
<td width="14%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:14.08%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12.5%</font></p>    </td>
<td width="13%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:13.58%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">6.6%</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:17.92%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.4%</font></p>    </td>   </tr>
<tr>
<td width="41%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:41.0%;">
<p style="margin:2.0pt 0in .0001pt 15.85pt;text-align:justify;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">MSCI India Index (Gross Dividends)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:10.92%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7.6%</font></p>    </td>
<td width="14%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:14.08%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">11.4%</font></p>    </td>
<td width="13%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:13.58%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.1%</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:1.45pt 0in 1.45pt 0in;width:17.92%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3.9%</font></p>    </td>   </tr>
<tr>
<td width="41%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:41.0%;">
<p style="margin:2.0pt 0in .0001pt 15.85pt;text-align:justify;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">MSCI India Index (Net Dividends)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:10.92%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7.6%</font></p>    </td>
<td width="14%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:14.08%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">11.4%</font></p>    </td>
<td width="13%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:13.58%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.1%</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:17.92%;">
<p align="right" style="margin:2.0pt .25in .0001pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3.9%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:130%;">Returns represent past performance. Total investment return at NAV is based on changes in the NAV of Fund shares and assumes reinvestment of dividends and distributions, if any, at prices pursuant to the Fund&#146;s dividend reinvestment program. All return data includes fees charged to the Fund, which are listed in the Fund&#146;s Statement of Operations under &#147;Expenses.&#148; The Fund&#146;s total investment return is based on the reported NAV on the financial reporting period end. Total investment return at market value is based on changes in the market price at which the Fund&#146;s shares traded on the NYSE during the period and assumes reinvestment of dividends and distributions, if any, at market prices pursuant to the Fund&#146;s dividend reinvestment program. Because the Fund&#146;s shares trade in the stock market based on investor demand, the Fund may trade at a price higher or lower than its NAV. Therefore, returns are calculated based on both market price and NAV. <b>Past performance is no guarantee of future results.</b> The performance information provided does not reflect the deduction of taxes that a shareholder would pay on distributions received from the Fund. The current performance of the Fund may be lower or higher than the figures shown. The Fund&#146;s yield, return, market price and NAV will fluctuate. Performance information current to the most recent month-end is available at www.aberdeenifn.com or by calling 800-522-5465.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;">The net expense ratio for the fiscal year ended December&nbsp;31, 2019 was 1.35%.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">6</font></b><a name="PB_6_121519_5796"></a></p>    </td>
<td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund,&nbsp;Inc.</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Portfolio Composition</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:130%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:130%;">The following table summarizes the sector composition of the Fund&#146;s portfolio, in S&amp;P&#146;s Global Industry Classification Standard (&#147;GICS&#148;), expressed as a percentage of net assets as of December&nbsp;31, 2019. The GICS structure consists of 11 sectors, 24 industry groups, 69 industries and 158 subindustries. As of December&nbsp;31, 2019, the Fund did not have more than 25% of its assets invested in any industry or industry group.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="69%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Sectors</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="26%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">As a Percentage of Net Assets</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;text-align:justify;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Financials</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">26.8%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">*</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Consumer   Staples</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">19.2%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Information   Technology</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">18.8%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Materials</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">11.2%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Health   Care</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7.5%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Consumer   Discretionary</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">6.9%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Industrials</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">4.8%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Real   Estate</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">4.3%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Energy</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.4%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Communication   Services</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.9%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Short-Term   Investment</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.4%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Liabilities   in Excess of Other Assets</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(2.2)%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.08%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:26.84%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">100.0%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .2in;text-align:justify;text-indent:-.2in;"><font size="2" face="Arial" style="font-size:9.5pt;">*</font><font face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">As of December&nbsp;31, 2019, the Fund&#146;s holdings in the Financials sector consisted of three industries: Banks, Diversified Financial Services and Insurance which represented 12.4%, 10.3% and 4.1% respectively, of the Fund&#146;s net assets.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Top Ten Equity Holdings</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">The following were the Fund&#146;s top ten equity holdings as of December&nbsp;31, 2019:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="69%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Name of Security</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="27%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">As a Percentage of Net Assets</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:2.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Housing   Development Finance Corp. Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:2.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:2.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10.2%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:2.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Tata   Consultancy Services Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7.7%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Kotak   Mahindra Bank Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.5%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Infosys   Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.5%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">ITC   Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">4.9%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Hindustan   Unilever Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">4.8%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">SBI   Life Insurance Co. Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">4.1%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">UltraTech   Cement Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">4.0%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Nestle   India Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3.9%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:69.16%;">
<p style="margin:1.0pt 0in 1.0pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Asian   Paints Ltd.</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="27%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:27.08%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3.7%</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.84%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="93%" valign="top" style="padding:0in 0in 0in 0in;width:93.92%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">7</font></b><a name="PB_7_130115_74"></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Portfolio of Investments</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:11.0pt;">As of December&nbsp;31, 2019</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="72%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:72.0%;">
<p align="center" style="margin:2.0pt 0in 2.0pt .05in;text-align:center;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:2.0pt 0in;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:2.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:2.0pt 0in;text-align:center;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Shares or<br>   Principal<br>   Amount</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:2.0pt 15.85pt 2.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Value</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:2.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">LONG-TERM INVESTMENTS&#151;101.8%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:2.0pt 0in 1.0pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:2.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:2.0pt 0in 1.0pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:2.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:2.0pt 0in 1.0pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">COMMON STOCKS&#151;101.7%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">INDIA&#151;101.7%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Communication Services&#151;0.9%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Bharti Infratel Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,533,289</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$<b>&nbsp;&nbsp;&nbsp;</b></font><font size="2" face="Arial" style="font-size:9.5pt;">5,424,006</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Consumer Discretionary&#151;6.9%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Bosch Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">57,223</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12,301,250</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Hero MotoCorp Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">283,216</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">9,707,687</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Lemon Tree Hotels Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(b)(c)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7,668,300</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">6,864,907</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Maruti Suzuki India Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">129,600</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">13,383,903</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">42,257,747</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Consumer Staples&#151;19.2%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Godrej Agrovet Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(b)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,156,080</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">8,401,152</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Godrej Consumer Products Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,568,867</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">14,987,935</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Hindustan Unilever Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,090,676</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">29,351,380</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">ITC Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">8,969,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">29,886,783</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Jyothy Labs Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5,095,940</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10,486,485</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Nestle India Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">114,300</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">23,654,692</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">116,768,427</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Energy&#151;1.4%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Aegis Logistics Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3,100,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">8,382,117</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Financials&#151;26.7%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Axis Bank Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">916,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">9,662,391</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Bandhan Bank Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)(b)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,810,241</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12,934,182</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">HDFC Bank Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,078,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">19,286,753</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Housing Development Finance Corp.   Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,840,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">62,227,778</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Kotak Mahindra Bank Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,418,300</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">33,487,927</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">SBI Life Insurance Co. Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)(b)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,832,500</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">24,686,109</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">162,285,140</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Health Care&#151;7.5%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Biocon Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,561,576</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10,532,951</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Piramal Enterprises Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">747,781</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">15,972,518</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Sanofi India Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">119,951</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">11,738,294</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Syngene International Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(b)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,660,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">7,481,589</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">45,725,352</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Industrials&#151;4.8%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">ABB India Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">349,224</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">6,308,799</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">ABB Power Products&nbsp;&amp; Systems   India Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(c)(f)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">69,845</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">719,211</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Container Corp. Of India Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,727,950</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">21,893,341</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">28,921,351</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">8</font></b><a name="PB_8_131528_7056"></a></p>    </td>
<td width="93%" valign="top" style="padding:0in 0in 0in 0in;width:93.92%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The India   Fund,&nbsp;Inc.</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Portfolio of Investments</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(concluded)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:11.0pt;">As of December&nbsp;31, 2019</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="72%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:72.0%;">
<p align="center" style="margin:0in 0in .0001pt .05in;text-align:center;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:2.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Shares or<br>   Principal<br>   Amount</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:2.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 15.85pt .0001pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Value</font></b></p>
<p align="right" style="margin:0in 15.85pt .0001pt 0in;text-align:right;"><b><font size="1" face="Times New Roman" style="font-size:2.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#DCDDDE" style="background:#DCDDDE;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">LONG-TERM INVESTMENTS   (continued)</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">COMMON STOCKS (continued)</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">INDIA (continued)</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Information Technology&#151;18.8%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Cyient Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">412,531</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$&nbsp;&nbsp;&nbsp;&nbsp;2,361,760</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Infosys Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3,244,854</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">33,454,452</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Mphasis Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,480,748</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">19,087,581</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Tata Consultancy Services Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,547,366</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">46,933,794</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Tech Mahindra Ltd.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,175,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12,530,585</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">114,368,172</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Materials&#151;11.2%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Ambuja Cements Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,407,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3,870,211</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Asian Paints Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">883,434</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">22,161,734</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Castrol (India) Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,095,218</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,978,936</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Grasim Industries Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">307,230</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3,207,173</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Shree Cement Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">44,870</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12,817,042</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">UltraTech Cement Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">422,969</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">24,037,322</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">68,072,418</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Real Estate&#151;4.3%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Godrej Properties Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)(c)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">954,528</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">13,201,718</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Prestige Estates Projects Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(a)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,757,470</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">13,047,460</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in 1.0pt 10.1pt;text-align:right;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">26,249,178</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt 96.5pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total Common Stocks</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">618,453,908</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">RIGHTS&#151;0.1%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
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<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Financials&#151;0.1%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Piramal Enterprises Ltd.</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(c)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">108,380</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">338,753</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt 96.5pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total Rights</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">338,753</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">SHORT-TERM INVESTMENT&#151;0.4%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">UNITED STATES&#151;0.4%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">State Street Institutional U.S.   Government Money Market Fund, Premier Class, 1.53%</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(d)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,334,761</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,334,761</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt 96.5pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total Short-Term Investment</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">2,334,761</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt 96.5pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total Investments (Cost   $323,194,751)</font></b><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;position:relative;top:-5.0pt;">(e)</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">&#151;102.2%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">621,127,422</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:3.0pt 0in 1.0pt 96.5pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Liabilities in Excess of Other Assets&#151;(2.2)%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:3.0pt 0in 1.0pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(13,138,985</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in 1.0pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="72%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:72.0%;">
<p style="margin:1.0pt 0in 1.0pt 96.5pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Assets&#151;100.0%</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:2.5%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:12.0%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$607,988,437</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#EFF0F0" style="background:#EFF0F0;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;">(a)</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">Fair Values are determined pursuant to procedures approved by the Fund&#146;s Board of Directors. Unless otherwise noted, securities are valued by applying valuation factors to the exchange traded price.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;">(b)</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">Denotes a security issued under Regulation S or Rule&nbsp;144A. See Note 2(g)&nbsp;of the accompanying Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(c)</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">Non-income producing security.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:9.5pt;">(d)</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of December&nbsp;31, 2019.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(e)</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">See accompanying Notes to Financial Statements for tax unrealized appreciation/(depreciation) of securities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(f)</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">Level 3 security. See Note 2(a)&nbsp;of the accompanying Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">See Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="93%" valign="top" style="padding:0in 0in 0in 0in;width:93.92%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund,&nbsp;Inc.</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">9</font></b><a name="PB_9_133151_5796"></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Statement of Assets and Liabilities</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">As of December&nbsp;31, 2019</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="82%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Assets</font></b></p>    </td>
<td width="4%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investments,   at value (cost $320,859,990)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:1.16%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font></p>    </td>
<td width="10%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:6.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">618,792,661</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Short-term   investments, at value (cost $2,334,761)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,334,761</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Foreign   currency, at value (cost $1,680,926)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1,676,912</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Receivable   for investments sold</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">13,543,987</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Interest   and dividends receivable</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">3,410</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Prepaid   expenses</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">111,648</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total assets</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">636,463,379</font></b></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:8.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Liabilities</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:8.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Dividends   payable to common shareholders</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">15,335,608</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Deferred   foreign capital gains tax</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12,305,278</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investment   management fees payable (Note 3)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">560,460</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Administration   fees payable (Note 3)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">42,269</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Director   fees payable</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">25,000</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investor   relations fees payable (Note 3)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">18,739</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Other accrued expenses</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">187,588</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total liabilities</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">28,474,942</font></b></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Assets</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:1.16%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b></p>    </td>
<td width="10%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">607,988,437</font></b></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:8.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Composition of Net Assets:</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:8.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Capital stock (par value $.001 per share)   (Note 5)</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font></p>    </td>
<td width="10%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">26,905</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Paid-in capital in excess of par</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">329,130,891</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Distributable earnings</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">278,830,641</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Assets</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:1.16%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">607,988,437</font></b></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="82%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:82.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   asset value per share based on 26,904,575 shares issued and outstanding</font></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:4.34%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:1.16%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">22.60</font></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:2.15pt 0in 1.45pt 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Amounts listed as &#147;&#150;&#148; are $0 or round to $0.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">See Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">10</font></b><a name="PB_10_080144_7056"></a></p>    </td>
<td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund, Inc.</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Statement of Operations</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">For the Year Ended December&nbsp;31, 2019</font></p>
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<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Investment Income:</font></b></p>    </td>
<td width="4%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:6.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Income</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:6.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Dividends   and other income (net of foreign withholding taxes of $0)</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:1.54%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.22%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">9,237,353</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Total Investment Income</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">9,237,353</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:6.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Expenses:</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:6.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investment   management fee (Note 3)</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">6,611,604</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Administration   fee (Note 3)</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">498,809</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Directors&#146;   fees and expenses</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">300,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Custodian&#146;s   fees and expenses</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">243,714</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Legal   fees and expenses</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">172,690</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Insurance   expense</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">133,844</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Reports   to shareholders and proxy solicitation</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">111,386</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Independent   auditors&#146; fees and expenses</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">103,875</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investor   relations fees and expenses (Note 3)</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">94,587</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Transfer   agent&#146;s fees and expenses</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">25,040</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Miscellaneous</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">131,145</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net expenses</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">8,426,694</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net Investment Income</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">810,659</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:6.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Realized/Unrealized   Gain/(Loss) from Investments and Foreign Currency Related Transactions:</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:6.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:4.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net realized gain/(loss) from:</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investment transactions</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">70,820,996</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Foreign currency transactions</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(275,926</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">70,545,070</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net change in unrealized   appreciation/(depreciation) on:</font></b></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Investments (including $3,081,476 change in   deferred capital gains tax) (Note 2f)</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(42,205,771</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Foreign currency translation</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(76,095</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(42,281,866</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="81%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:1.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net realized and unrealized gain from   investments and foreign currency transactions</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:1.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:11.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">28,263,204</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="81%" style="border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:81.84%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Increase in Net Assets   Resulting from Operations</font></b></p>    </td>
<td width="4%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:4.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:1.54%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:10.22%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">29,073,863</font></b></p>    </td>
<td width="2%" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Amounts listed as &#147;&#150;&#148; are $0 or round to $0.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">See Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.02%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">11</font></b><a name="PB_11_080144_5335"></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Statements of Changes in Net Assets</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">For the<br>   Year Ended<br>   December&nbsp;31, 2019</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:17.52%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">For the<br>   Year Ended<br>   December&nbsp;31, 2018</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.46%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:7.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Increase/(Decrease) in Net   Assets</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:7.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:7.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:7.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Operations:</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:7.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:7.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:7.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net investment income/(loss)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:7.26%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:10.26%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">810,659</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:7.56%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font></p>    </td>
<td width="9%" valign="bottom" style="padding:0in 0in 0in 0in;width:9.96%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(969,873</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net realized gain from investment and foreign   currency related transactions</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">70,545,070</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">101,838,044</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net change in unrealized appreciation/(depreciation) on   investments and foreign currency translation</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(42,281,866</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(136,607,812</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net increase/(decrease) in net assets   resulting from operations</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">29,073,863</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(35,739,641</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:8.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Distributions to Shareholders   from:</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Distributable earnings</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(62,687,660</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(122,353,140</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net decrease in net assets from distributions</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(62,687,660</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(122,353,140</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Repurchase of shares under open market repurchase policy (23,272   and 1,054,737, respectively) (Note 6)</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(476,869</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(25,439,377</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Change in net assets from capital   transactions</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(476,869</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(25,439,377</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:3.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Change in net assets resulting from   operations</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(34,090,666</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(183,532,158</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:8.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Net Assets:</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:8.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:3.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Beginning of year</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">642,079,103</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:17.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">825,611,261</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="59%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:59.5%;">
<p style="margin:3.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">End of year</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:7.26%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b></p>    </td>
<td width="10%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:10.26%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">607,988,437</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:2.0%;">
<p style="margin:3.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:7.56%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:9.96%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">642,079,103</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.45pt 0in;width:2.46%;">
<p style="margin:3.0pt 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Amounts listed as &#147;&#150;&#148; are $0 or round to $0.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">See Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">12</font></b><a name="PB_12_080144_5796"></a></p>    </td>
<td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund, Inc.</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Financial Highlights</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="42%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="55%" colspan="10" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:55.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">For&nbsp;the&nbsp;Fiscal&nbsp;Years&nbsp;Ended&nbsp;December&nbsp;31,</font></b></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="9%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">2019</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">2018</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">2017</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">2016</font></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">2015</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#DDDEDF" style="background:#DDDEDF;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="42%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:5.0pt 0in .0001pt 13.7pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">PER SHARE OPERATING PERFORMANCE</font></b><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;position:relative;top:-5.0pt;">(a)</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">:</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   asset value, beginning of year</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$23.84</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$29.50</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$24.24</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$25.95</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$28.63</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   investment income/(loss)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.03</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.04</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.01</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.01</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(b)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   realized and unrealized gains/(losses) on investments and foreign currency   transactions</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.06</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.25</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">8.37</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.09</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.91</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Total   from investment operations</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.09</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.29</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">8.36</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.09</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.90</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Dividends   and distributions to shareholders from:</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   investment income</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.01</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.77</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(f)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.04</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.16</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   realized gains</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(2.32</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(3.73</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(f)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(3.16</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.67</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.66</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Total   dividends and distributions to shareholders</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(2.33</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(4.50</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(3.16</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.71</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.82</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Capital   Share Transactions:</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Impact   due to open market repurchase policy (Note 6)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.13</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.06</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.09</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.04</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Total   capital share transactions</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.13</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.06</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.09</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.04</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   asset value, end of year</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$22.60</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$23.84</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$29.50</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$24.24</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$25.95</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Market   value, end of year</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$20.13</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$20.24</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$26.12</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$21.39</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$22.74</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:5.0pt 0in .0001pt 13.7pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total Investment Return Based on</font></b><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;position:relative;top:-5.0pt;">(c)</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">:</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:5.0pt 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:5.0pt 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Market   value</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">10.90%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(6.00%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">36.45%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.20%</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(4.42%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   asset value</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.70%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.94%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">35.98%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.50%</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(1.67%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(d)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:5.0pt 0in .0001pt 13.7pt;text-indent:-10.1pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Ratio to Average Net Assets/Supplementary Data:</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   assets, end of year (000 omitted)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$607,988</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$642,079</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$825,611</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$689,736</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$759,064</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Average   net assets (000 omitted)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$623,568</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$756,480</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$836,037</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$770,618</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$862,993</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   expenses</font><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(e)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.35%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.32%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.26%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.33%</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">1.32%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Net   investment income/(loss)</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.13%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.13%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.02%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">(0.01%</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">)</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">0.05%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;position:relative;top:-5.0pt;">(b)</font></p>    </td>   </tr>
<tr>
<td width="42%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:42.5%;">
<p style="margin:0in 0in .0001pt 13.7pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Portfolio   turnover</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:9.18%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">14.43%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12.62%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:8.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12.15%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:7.48%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">12.25%</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:3.36%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:8.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">5.74%</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:1.45pt 0in 1.45pt 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="3%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:3.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(a)</font></p>    </td>
<td width="96%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:96.84%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Based   on average shares outstanding.</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:3.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(b)</font></p>    </td>
<td width="96%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:96.84%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Included   within the net investment income per share and the ratio of net investment   income to average net assets are the effects of an adjustment to a foreign   tax liability. If such amounts were excluded, the net investment income per   share and the ratio of net investment income to average net assets would have   been $(0.01) and (0.04%), respectively.</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:3.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(c)</font></p>    </td>
<td width="96%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:96.84%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Total   investment return based on market value is calculated assuming that shares of   the Fund&#146;s common stock were purchased at the closing market price as of the   beginning of the period, dividends, capital gains, and other distributions   were reinvested as provided for in the Fund&#146;s dividend reinvestment plan and   then sold at the closing market price per share on the last day of the   period. The computation does not reflect any sales commission investors may   incur in purchasing or selling shares of the Fund. The total investment   return based on the net asset value is similarly computed except that the   Fund&#146;s net asset value is substituted for the closing market value.</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:3.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(d)</font></p>    </td>
<td width="96%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:96.84%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Includes   adjustments in accordance with accounting principles generally accepted in   the United States of America and as such, the net asset value for financial   reporting purposes and the returns based upon those net asset values may   differ from the net asset value and returns based upon net asset value as   reported.</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:3.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(e)</font></p>    </td>
<td width="96%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:96.84%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Prior   to 2016, the ratio was inclusive of foreign tax expense paid to Mauritius on   the Fund&#146;s taxable income. The Fund exited its Mauritius structure in 2015.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(f)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">The   current year presentation has been revised to appropriately reflect the known   source of dividends and distributions to shareholders from net investment   income and net realized gains. Previously (4.50) from net investment income.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Amounts listed as &#147;&#150;&#148; are $0 or round to $0.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">See Notes to Financial Statements.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund, Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">13</font></b><a name="PB_13_084644_7056"></a></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Notes to Financial Statements</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>
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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">1. Organization</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The India Fund,&nbsp;Inc. (the &#147;Fund&#148;) was incorporated in Maryland on December&nbsp;27, 1993 and commenced operations on February&nbsp;23, 1994. The Fund is registered under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;), as a non-diversified closed-end management investment company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund&#146;s investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in the equity securities of Indian companies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">2. Summary of Significant Accounting Policies</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standard Codification Topic 946 Financial Services-Investment Companies. The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies conform to accounting principles generally accepted in the United States of America (&#147;GAAP&#148;). The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses for the period. Actual results could differ from those estimates. The books and accounting records of the Fund are maintained in U.S. Dollars.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">a. Security Valuation:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund values its securities at current market value or fair value, consistent with regulatory requirements. &#147;Fair value&#148; is defined in the Fund&#146;s Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Equity securities that are traded on an exchange are valued at the last quoted sale price on the principal exchange on which the security is traded at the &#147;Valuation Time&#148; subject to application, when appropriate, of the valuation factors described in the paragraph below. The Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m.&nbsp;Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Closed-end funds and exchange-traded funds (&#147;ETFs&#148;) are valued at the market price of the security at the Valuation Time. A security using any of these pricing methodologies is determined to be a Level 1 investment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="margin:0in 0in .0001pt;"></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Foreign equity securities that are traded on foreign exchanges that close prior to the Valuation Time are valued by applying valuation factors to the last sale price or the mean price as noted above. Valuation factors are provided by an independent pricing service provider approved by the Board of Directors (the &#147;Board&#148;). These valuation factors are used when pricing the Fund&#146;s portfolio holdings to estimate market movements between the time foreign markets close and the time the Fund values such foreign securities. These valuation factors are based on inputs such as depositary receipts, indices, futures, sector indices/ETFs, exchange rates, and local exchange opening and closing prices of each security. When prices with the application of valuation factors are utilized, the value assigned to the foreign securities may not be the same as quoted or published prices of the securities on their primary markets. A security that applies a valuation factor is determined to be a Level 2 investment because the exchange-traded price has been adjusted. Valuation factors are not utilized if the independent pricing service provider is unable to provide a valuation factor or if the valuation factor falls below a predetermined threshold; in such case, the security is determined to be a Level 1 investment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a &#147;government money market fund&#148; pursuant to Rule&nbsp;2a-7 under the 1940 Act, and has an objective to maintain a $1.00 per share net asset value (&#147;NAV&#148;), and which objective is not guaranteed. Generally, these investment types are categorized as Level 1 investments.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In the event that a security&#146;s market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closes before the Valuation Time), the security is valued at fair value as determined by the Fund&#146;s Pricing Committee, taking into account the relevant factors and surrounding circumstances using valuation policies and procedures approved by the Fund&#146;s Board. A security that has been fair valued by the Fund&#146;s Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments using a three-level hierarchy that classifies the inputs to valuation</font><font face="Arial">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">techniques used to measure the fair value. The hierarchy assigns Level 1, the highest level, measurements to valuations based upon unadjusted quoted prices in active markets for identical assets, Level 2 measurements to valuations based upon other significant observable inputs, including adjusted quoted prices in active markets for similar assets, and Level 3, the lowest level, measurements to valuations based upon unobservable inputs that are</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">14</font></b><a name="PB_14_070124_390"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;</font><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#8e3092" face="Arial" style="color:#8E3092;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Notes to Financial Statements</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(continued)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>
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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">significant to the valuation. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity&#146;s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. A financial instrument&#146;s level within the fair value hierarchy is based upon the lowest level of any input that is significant</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">to the fair value measurement. The three-level hierarchy of inputs is summarized below:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Level 1 &#150; quoted prices in active markets for identical investments;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Level 2 &#150; other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk); or</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Level 3 &#150; significant unobservable inputs (including the Fund&#146;s own assumptions in determining the fair value of investments).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The following is a summary of the inputs used as of December&nbsp;31, 2019 in valuing the Fund&#146;s investments at fair value. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Please refer to the Portfolio of Investments for a detailed breakout of the security types:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .05in;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Investments,&nbsp;at&nbsp;Value</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.4%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Level&nbsp;1&nbsp;&#150;&nbsp;Quoted<br>   Prices&nbsp;($)</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:22.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Level&nbsp;2&nbsp;&#150;&nbsp;Other&nbsp;Significant<br>   Observable&nbsp;Inputs&nbsp;($)</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="21%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:21.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Level&nbsp;3&nbsp;&#150;&nbsp;Significant<br>   Unobservable&nbsp;Inputs&nbsp;($)</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total&nbsp;($)</font></b></p>    </td>
<td width="0%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="24%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:24.92%;">
<p style="margin:0in 0in .0001pt .05in;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Investments in Securities</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="22%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:22.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:21.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:24.92%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Arial" style="font-size:9.5pt;">Common Stocks</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$</font><font size="2" face="Arial" style="font-size:9.5pt;">182,925,009</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="22%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:22.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$434,809,688</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:21.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$719,211</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">$618,453,908</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:24.92%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Arial" style="font-size:9.5pt;">Rights</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">338,753</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="22%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:22.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:21.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">338,753</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;padding:.7pt 0in .7pt 0in;width:.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:24.92%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Arial" style="font-size:9.5pt;">Short-Term Investment</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,334,761</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="22%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:22.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:21.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:9.5pt;">2,334,761</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in .7pt 0in;width:.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="24%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:24.92%;">
<p style="margin:0in 0in .0001pt .05in;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Total</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.4%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:14.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">185,598,523</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="22%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:22.44%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">434,809,688</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="21%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:21.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">719,211</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">$</font></b><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">621,127,422</font></b></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F1" style="background:#F1F1F1;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.98%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Amounts listed as &#147;&#150;&#148; are $0 or round to $0.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">During the fiscal year ended December&nbsp;31, 2019, there have been no transfers between levels and no significant changes to the fair valuation methodologies. Level 3 investments held during and at the end of the fiscal year in relation to net assets were not significant (less than 0.12% of total net assets) and accordingly, a reconciliation of Level 3 assets for the period ended December&nbsp;31, 2019 is not presented.</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:1.0pt;line-height:120%;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">b. Foreign Currency Translation:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Foreign securities, currencies, and other assets and liabilities denominated in foreign currencies are translated into U.S. Dollars at the exchange rate of said currencies against the U.S. Dollar, as of the Valuation Time, as provided by an independent pricing service approved by the Board.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Foreign currency amounts are translated into U.S. Dollars on the following basis:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt 15.1pt;text-align:justify;text-indent:-15.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">(i)&nbsp;&nbsp;market value of investment securities, other assets and liabilities &#150; at the current daily rates of exchange at the Valuation Time; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt 15.1pt;text-align:justify;text-indent:-15.1pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">(ii)&nbsp;&nbsp;purchases and sales of investment securities, income and expenses &#150; at the relevant rates of exchange prevailing on the respective dates of such transactions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund does not isolate that portion of gains and losses on investments in equity securities which is due to changes in the foreign exchange rates from that which is due to changes in market prices of equity securities. Accordingly, realized and unrealized foreign currency gains and losses with respect to such securities are included in the</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">&nbsp;</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">reported net realized and unrealized gains and losses on investment transactions balances.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund reports certain foreign currency related transactions and foreign taxes withheld on security transactions as components of realized gains for financial reporting purposes, whereas such foreign currency related transactions are treated as ordinary income for U.S. federal income tax purposes.</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:5.0pt;line-height:120%;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Net unrealized currency gains or losses from valuing foreign currency denominated assets and liabilities at period end exchange rates are reflected as a component of net unrealized appreciation/depreciation in value of investments, and translation of other assets and liabilities denominated in foreign currencies.</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:5.0pt;line-height:120%;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Net realized foreign exchange gains or losses represent foreign exchange gains and losses from transactions in foreign currencies and forward foreign currency contracts, exchange gains or losses realized between the trade date and settlement date on security transactions, and the difference between the amounts of interest and dividends recorded on the Fund&#146;s books and the U.S. Dollar equivalent of the amounts actually received.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="93%" valign="top" style="padding:0in 0in 0in 0in;width:93.92%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">15</font></b><a name="PB_15_080453_7748"></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Notes to Financial Statements</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(continued)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. Dollar. Generally, when the U.S. Dollar rises in value against foreign currency, the Fund&#146;s investments denominated in that foreign currency will lose value because the foreign currency is worth fewer U.S. Dollars; the opposite effect occurs if the U.S. Dollar falls in relative value.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">c. Security Transactions,&nbsp;Investment Income and Expenses:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Security transactions are recorded on the trade date. Realized and unrealized gains/(losses) from security and currency transactions are calculated on the identified cost basis. Dividend income is recorded on the ex-dividend date except for certain dividends on foreign securities, which are recorded as soon as the Fund is informed after the ex-dividend date. Interest income and expenses are recorded on an accrual basis.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">d. Distributions:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund has implemented a managed distribution policy (&#147;MDP&#148;) to pay distributions from net investment income supplemented by net realized foreign exchange gains, net realized capital gains and return of capital distributions, if necessary, on a quarterly basis. The MDP is subject to regular review by the Board.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund records dividends and distributions payable to its shareholders on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP. These book basis/tax basis differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts based on their federal tax basis treatment; temporary differences do not require reclassification.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Dividends and distributions which exceed net investment income and net realized capital gains for tax purposes are reported as return of capital.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">e. Federal Income Taxes:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund intends to continue to qualify as a &#147;regulated investment company&#148; (RIC) by complying with the provisions available to certain investment companies, as defined in Subchapter M of the Internal Revenue Code of 1986, as amended, and to make distributions of net investment income and net realized capital gains sufficient to relieve the Fund from all, or substantially all, federal income taxes. Therefore, no federal income tax provision is required.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund recognizes the tax benefits of uncertain tax positions only where the position is &#147;more likely than not&#148; to be sustained assuming</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">examination by tax authorities. Management of the Fund has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Since tax authorities can examine previously filed tax returns, the Fund&#146;s U.S. federal and state tax returns for each of the four fiscal years up to the most recent fiscal year ended December&nbsp;31, 2019 are subject to such review.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">f. Foreign Withholding Tax:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Dividend and interest income from non-U.S. sources received by the Fund are generally subject to non-U.S. withholding taxes. The above taxes may be reduced or eliminated under the terms of applicable U.S. income tax treaties with some of these countries. The Fund accrues such taxes when the related income is earned.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In addition, when the Fund sells securities within certain countries in which it invests, the capital gains realized may be subject to tax. Based on these market requirements and as required under GAAP, the Fund accrues deferred capital gains tax on securities currently held that have unrealized appreciation within these countries. The amount of deferred capital gains tax accrued is reported on the Statement of Operations as part of the Net Change in Unrealized Appreciation/Depreciation on Investments.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">On February&nbsp;1, 2018,&nbsp;Indian Finance Minister, Arun Jaitley, proposed to introduce a 10% tax on long-term capital gains on non-resident taxpayers, including financial institutional investors. Under the existing regime, long-term capital gains on non-resident taxpayers are exempt from income tax. This proposed tax was announced as part of the unveiling of the Budget proposals for 2018-2019 and would apply to the transfer of long-term capital assets exceeding Indian Rupee (INR) 100,000 on disposals of Indian listed securities on or after April&nbsp;1, 2018. However, it was announced that all long-term capital gains up to January&nbsp;31, 2018 would be grandfathered and not subject to the proposed new tax. This became effective April&nbsp;1, 2018 and the Fund currently accrues for this tax, see Deferred foreign capital gains tax on the Statement of Assets and Liabilities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">g. Restricted Securities:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Restricted securities are privately-placed securities whose resale is restricted under U.S. securities laws. The Fund may invest in restricted securities, including unregistered securities eligible for resale without registration pursuant to</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Rule&nbsp;144A and privately-placed securities of U.S. and non-U.S. issuers offered outside the U.S. without registration pursuant to Regulation S under the Securities Act of 1933, as amended. Rule&nbsp;144A securities may be freely traded among certain qualified institutional investors, such as the Fund, but resale of such securities in the U.S. is permitted only in limited circumstances.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">16</font></b><a name="PB_16_204253_141"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;</font><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#8e3092" face="Arial" style="color:#8E3092;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Notes to Financial Statements</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(continued)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">3. Agreements and Transactions with Affiliates</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">a. Investment Manager:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Aberdeen Standard Investments (Asia) Limited (&#147;ASIAL&#148;) serves as the Fund&#146;s investment manager with respect to all investments. For its services, ASIAL receives fees at an annual rate of: (i)&nbsp;1.10% for the first $500 million of the Fund&#146;s average weekly Managed Assets; (ii)&nbsp;0.90% for the next $500 million of the Fund&#146;s average weekly Managed Assets; (iii)&nbsp;0.85% for the next $500 million of the Fund&#146;s average weekly Managed Assets; and (iv)&nbsp;0.75% for the Fund&#146;s average weekly Managed Assets in excess of $1.5 billion. Managed Assets is defined in the investment management agreement as net assets plus the amount of any borrowings for investment purposes. For the fiscal year ended December&nbsp;31, 2019, ASIAL earned a gross management fee of $6,611,604.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">b. Fund Administration:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Aberdeen Standard Investments Inc. (&#147;ASII&#148;) an affiliate of ASIAL, serves as the Fund&#146;s administrator and receives a fee payable monthly by the Fund at an annual rate of 0.08% of the value of the Fund&#146;s average monthly net assets. For the fiscal year ended December&nbsp;31, 2019, the Fund paid a total of $498,809 in administrative fees to ASII.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">c. Investor Relations:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Under the terms of the Investor Relations Services Agreement, ASII provides and/or engages third parties to provide investor relations services to the Fund and certain other funds advised by ASIAL or its affiliates as part of an Investor Relations Program. Under the Investor Relations Services Agreement, the Fund owes a portion of the fees related to the Investor Relations Program (the &#147;Fund&#146;s Portion&#148;). However, investor relations services fees are limited by ASII so that the Fund will only pay up to an annual rate of 0.05% of the Fund&#146;s average net assets per annum. Any difference between the capped rate of 0.05% of the Fund&#146;s average net assets per annum and the Fund&#146;s Portion is paid for by ASII.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Pursuant to the terms of the Investor Relations Services Agreement, ASII, (or third parties engaged by ASII) among other things, provides objective and timely information to shareholders based on publicly-available information; provides information efficiently through the use of technology while offering shareholders immediate access to knowledgeable investor relations representatives; develops and maintains effective communications with investment professionals from a wide variety of firms; creates and maintains investor relations communication materials such as fund manager interviews, films and webcasts, published white papers, magazine articles and other relevant materials discussing the Fund&#146;s investment results, portfolio positioning and outlook; develops and maintains effective communications with large institutional shareholders; responds to specific shareholder</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">questions; and reports activities and results to the Board and management detailing insight into general shareholder sentiment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">During the fiscal year ended December&nbsp;31, 2019, the Fund incurred investor relations fees of approximately $94,587. For the fiscal year ended December&nbsp;31, 2019, ASII did not contribute to the investor relations fees for the Fund because the Fund&#146;s contribution was below 0.05% of the Fund&#146;s average weekly net assets on an annual basis.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">4. Investment Transactions</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Purchases and sales of investment securities (excluding short-term securities) for the fiscal year ended December&nbsp;31, 2019, were $91,333,665 and $201,799,091, respectively.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">5. Capital</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The authorized capital of the Fund is 100 million shares of $0.001 par value per share of common stock. During the fiscal year ended December&nbsp;31, 2019, the Fund repurchased 23,272 shares under its targeted discount policy (See Note 6). As of December&nbsp;31, 2019, there were 26,904,575 shares of common stock issued and outstanding.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">6. Targeted Discount Policy</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund&#146;s open market repurchase policy seeks to manage the Fund&#146;s discount by buying back shares of common stock in the open market at times when the Fund&#146;s shares trade at a discount of 10% or more to NAV.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Under the open market repurchase policy, the Fund repurchased 23,272 shares for $476,869 during the fiscal year ended December&nbsp;31, 2019 and 1,054,737 shares for $25,439,377 during the fiscal year ended December&nbsp;31, 2018.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">7. Portfolio Investment Risks</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">a. Risks Associated with Foreign Securities and Currencies</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Investments in securities of foreign issuers carry certain risks not ordinarily associated with investments in securities of U.S. issuers. These risks include future political and economic developments and the possible imposition of exchange controls or other foreign governmental laws and restrictions. In addition, with respect to certain countries,</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">there is the possibility of expropriation of assets, confiscatory taxation, and political or social instability or diplomatic developments, which could adversely affect investments in those countries.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Certain countries also may impose substantial restrictions on investments in their capital markets by foreign entities, including restrictions on investments in issuers of industries deemed sensitive to relevant national interests. These factors may limit the investment opportunities available and result in a lack of liquidity and high price volatility with respect to securities of issuers from developing countries. Foreign securities may also be harder to price than U.S. securities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">17</font></b><a name="PB_17_074701_5796"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Notes to Financial Statements</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(continued)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales of securities by foreign investors. In addition, if there is deterioration in a country&#146;s balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. Amounts repatriated prior to the end of specified periods may be subject to taxes as imposed by a foreign country.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The value of foreign currencies relative to the U.S. Dollar fluctuates in response to market, economic, political, regulatory, geopolitical or other conditions. A decline in the value of a foreign currency versus the U.S. Dollar reduces the value in the U.S. Dollars of investments denominated in that foreign currency. This risk may impact the Fund more greatly to the extent the Fund does not hedge its currency risk, or hedging techniques used by the Fund&#146;s investment manager are unsuccessful.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">b. Risks Associated with Indian Markets</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Indian securities markets are, among other things, substantially smaller, less developed, less liquid and more volatile than the major securities markets in the United States. Consequently, acquisitions and dispositions of Indian securities involve special risks and considerations not present with respect to U.S. securities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">c. Sector Risk</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">To the extent that the Fund has a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector, the Fund may be more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In particular, being invested heavily in the financial sector may make the Fund vulnerable to risks and pressures facing companies in that sector, such as regulatory, consolidation, interest rate changes and general economic conditions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Financials Sector Risk</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">. To the extent that the financials sector represents a significant portion of the Fund&#146;s investments, the Fund will be sensitive to changes in, and its performance may depend to a greater extent on, factors impacting this sector. Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or recent or future regulation of the financials sector as a whole cannot be predicted. In recent years, cyber attacks and technology malfunctions and failures have become increasingly frequent in this sector and have caused significant losses.</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Consumer Staples Sector Risk.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> Companies in the consumer staples sector may be adversely affected by changes in the global economy, consumer spending, competition, demographics and consumer preferences, and production spending. Companies in the consumer staples sector may also be affected by changes in global economic, environmental and political events, economic conditions, the depletion of resources, and government regulation. For instance, government regulations may affect the permissibility of using various food additives and production methods of companies that make food products, which could affect company profitability. In addition, tobacco companies may be adversely affected by the adoption of proposed legislation and/or by litigation. Companies in the consumer staples sector also may be subject to risks pertaining to the supply of, demand for and prices of raw materials. The prices of raw materials fluctuate in response to a number of factors, including, without limitation, changes in government agricultural support programs, exchange rates, import and export controls, changes in international agricultural and trading policies, and seasonal and weather conditions. Companies in the consumer staples sector may be subject to severe competition, which may also have an adverse impact on their profitability.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Information Technology Sector Risk. </font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">To the extent that the information technology sector represents a significant portion of the Fund, the Fund will be sensitive to changes in, and its performance may depend to a greater extent on, factors impacting this sector. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on their profit margins. Like other technology companies, information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">d. Valuation Risk</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The price that the Fund could receive upon the sale of any particular portfolio investment may differ from the Fund&#146;s valuation of the investment, particularly for securities that trade in illiquid or volatile markets or that are valued using a fair valuation methodology or a price provided by an independent pricing service. As a result, the price received upon the sale of an investment may be less than the value ascribed by the Fund, and the Fund could realize a greater than</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">expected loss or lower than expected gain upon the sale of the investment. The Fund&#146;s ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">18</font></b><a name="PB_18_080320_2897"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;</font><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#8e3092" face="Arial" style="color:#8E3092;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Notes to Financial Statements</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(concluded)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">e. Market Events Risk:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Policy and legislative changes in countries around the world are affecting many aspects of financial regulation. In addition, any spread of an infectious illness, public health threat or similar issue could reduce consumer demand or economic output, result in market closures, travel restrictions or quarantines, and generally have a significant impact on the world economy, which in turn could adversely affect the Fund&#146;s investments. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time. In addition, economies and financial markets throughout the world are becoming increasingly interconnected. As a result, whether or not a Fund invests in securities of issuers located in or with</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">&nbsp;</font></p>

</div><div style="float:right;margin:left=3%;position:relative;width:47%;"><p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">significant exposure to countries experiencing economic and financial difficulties, the value and liquidity of the Fund&#146;s investments may be negatively affected by such events.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">8. Contingencies</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In the normal course of business, the Fund may provide general indemnifications pursuant to certain contracts and organizational documents. The Fund&#146;s maximum exposure under these arrangements is dependent on future claims that may be made against the Fund, and therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">9. Tax Information</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The U.S. federal income tax basis of the Fund&#146;s investments (including derivatives, if applicable) and the net unrealized appreciation as of December&nbsp;31, 2019, were as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Tax Basis of Investments</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:19.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Appreciation</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="21%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:21.22%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Depreciation</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.9%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="26%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:26.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Net&nbsp;Unrealized<br>   Appreciation/<br>   (Depreciation)</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="24%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:24.84%;">
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.5pt;">$</font><font size="1" face="Arial" style="font-size:8.5pt;">340,452,036</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$</font><font size="1" face="Arial" style="font-size:8.5pt;">291,819,025</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.36%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="21%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:21.22%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$(</font><font size="1" face="Arial" style="font-size:8.5pt;">11,143,639</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">)</font></p>    </td>
<td width="26%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:26.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$</font><font size="1" face="Arial" style="font-size:8.5pt;">280,675,386</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">The tax character of distributions paid during the fiscal years ended December&nbsp;31, 2019 and December&nbsp;31, 2018 was as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="60%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:60.76%;">
<p style="margin:1.0pt 0in 1.0pt 10.1pt;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.58%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:15.74%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">December&nbsp;31, 2019</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.0pt 0in;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="17%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:17.7%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">December&nbsp;31, 2018</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:1.0pt 0in;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<td width="60%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:60.76%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:8.5pt;">Distributions   paid from:</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:1.58%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:15.74%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:17.7%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:60.76%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:8.5pt;">Ordinary   Income</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:1.58%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:15.74%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$289,370</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:17.7%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$21,306,430</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:60.76%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:8.5pt;">Net   long-term capital gains</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.58%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.74%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">62,398,290</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.7%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">101,046,710</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:60.76%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Total tax character of distributions</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.58%;">
<p style="margin:1.0pt 0in;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="15%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:15.74%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">$62,687,660</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.0pt 0in;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="17%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:17.7%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">$122,353,140</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:1.0pt 0in;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;">As of December&nbsp;31, 2019, the components of distributable earnings on a tax basis were as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" bgcolor="#F1F1F2" style="background:#F1F1F2;border-collapse:collapse;">
<tr>
<td width="78%" valign="top" style="padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Undistributed ordinary income &#150; net</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">$&#150;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Undistributed   long-term capital gains &#150; net</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">10,464,611</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Total   undistributed earnings</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">$10,464,611</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Capital   loss carryforward</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&#150;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Other   currency gains</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&#150;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Other   temporary differences</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&#150;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Unrealized   appreciation/(depreciation)</font></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">268,366,030</font></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><font size="1" face="Arial" style="font-size:9.0pt;">*</font></p>    </td>   </tr>
<tr>
<td width="78%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:78.92%;">
<p style="margin:1.0pt 0in 1.0pt .2in;text-indent:-10.1pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Total distributable earnings/(losses) &#150; net</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.92%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:16.82%;">
<p align="right" style="margin:1.0pt 0in;text-align:right;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">$278,830,641</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.34%;">
<p style="margin:1.0pt 0in;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 9.35pt;text-indent:-9.35pt;"><font size="2" face="Arial" style="font-size:9.5pt;">*</font><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;&nbsp;</font><font size="2" face="Arial" style="font-size:9.5pt;">The tax basis of components of distributable earnings differs from the amounts reflected in the Statement of Assets and Liabilities by temporary book/tax differences. These differences are primarily timing differences due to wash sales, passive foreign investment companies and corporate actions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">10. Subsequent Events</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosures and/or adjustments were required to the financial statements as of December&nbsp;31, 2019.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="93%" valign="top" style="padding:0in 0in 0in 0in;width:93.92%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.</font><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.08%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">19</font></b><a name="PB_19_084328_7608"></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Report of Independent Registered Public Accounting Firm</font></b></p>
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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">To the Shareholders and Board of Directors<br> The India Fund,&nbsp;Inc.:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;">Opinion on the Financial Statements</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">We have audited the accompanying statement of assets and liabilities of The India Fund,&nbsp;Inc. (the Fund), including the portfolio of investments, as of December&nbsp;31, 2019, the related statement of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the three-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of December&nbsp;31, 2019, the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the three-year period then ended, in conformity with U.S. generally accepted accounting principles. The financial highlights for each of the years in the two-year period ended December&nbsp;31, 2016, were audited by other independent registered public accountants whose report, dated February&nbsp;27, 2017, expressed an unqualified opinion on those financial highlights.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;">Basis for Opinion</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">These financial statements and financial highlights are the responsibility of the Fund&#146;s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules&nbsp;and regulations of the Securities and Exchange Commission and the PCAOB.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of December&nbsp;31, 2019, by correspondence with the custodian and other third parties . Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="173" height="37" src="g34263bi13i001.gif"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">We have served as the auditor of one or more Aberdeen investment companies since 2009.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:110%;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:110%;">Philadelphia, Pennsylvania<br> February&nbsp;27, 2020</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">20</font></b><a name="PB_20_104122_7020"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,   Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Federal Tax Information: Dividends and Distributions</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:9.0pt;">The following information is provided with respect to the distributions paid by Aberdeen India Fund,&nbsp;Inc. during the fiscal year ended December&nbsp;31, 2019:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 12.95pt;text-indent:-.1in;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Payable Date</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:11.0%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Total Cash </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Distribution</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:9.58%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Long-Term </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Capital </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Gain</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Tax </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Return of </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Capital</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:9.84%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Net </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Ordinary </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Dividend</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:9.74%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Foreign </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Taxes </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Paid</font></b><b><font size="1" face="Arial" style="font-size:6.5pt;font-weight:bold;position:relative;top:-5.0pt;">(1)</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:9.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Gross </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Ordinary </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Dividend</font></b></p>    </td>
<td width="0%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Qualified </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Dividends</font></b><b><font size="1" face="Arial" style="font-size:6.5pt;font-weight:bold;position:relative;top:-5.0pt;">(2)</font></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.58%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:9.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Foreign </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Source </font></b></p>
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:8.5pt;font-weight:bold;">Income</font></b></p>    </td>
<td width="0%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:.94%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:13.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="1" face="Arial" style="font-size:8.5pt;">4/30/2019</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.59000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.1%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.57926509</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$</font><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01073491</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.74%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.00911975</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.92%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01985466</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01985466</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.58%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01063100</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.94%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:13.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="1" face="Arial" style="font-size:8.5pt;">6/28/2019</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">0.59000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.1%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">0.59000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.74%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.92%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.58%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.94%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:13.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="1" face="Arial" style="font-size:8.5pt;">9/30/2019</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">0.58000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.1%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">0.58000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.74%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.92%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:1.58%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:9.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:.7pt 0in .7pt 0in;width:.94%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:13.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="1" face="Arial" style="font-size:8.5pt;">1/10/2020</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">0.57000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.1%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">0.57000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.74%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.92%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.58%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&#150;</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.94%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:13.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="1" face="Arial" style="font-size:8.5pt;">TOTAL</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.18%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:11.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$2.33000000</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.1%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$2.31926509</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.32%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$&#150;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.16%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01073491</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.74%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.00911975</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.92%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01985466</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.9%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01985466</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:1.58%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:9.3%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">$0.01063100</font></p>    </td>
<td width="0%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;border:none;border-bottom:solid windowtext 1.5pt;padding:.7pt 0in .7pt 0in;width:.94%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 15.85pt;text-indent:-15.85pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(1)&nbsp;&nbsp;The foreign taxes paid represent taxes incurred by the Fund on interest received from foreign sources. Foreign taxes paid may be included in taxable income with an offsetting deduction from gross income or may be taken as a credit for taxes paid to foreign governments. You should consult your tax advisor regarding the appropriate treatment of foreign taxes paid.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 15.85pt;text-indent:-15.85pt;"><font size="2" face="Arial" style="font-size:9.5pt;">(2)&nbsp;&nbsp;The Fund hereby designates the amount indicated above or the maximum amount allowable by law.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Supplemental Information</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Board of Director&#146;s Approval of Investment Advisory Agreement</font></b></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;), requires that the Board of Directors (the &#147;Board&#148;) of The India Fund,&nbsp;Inc. (the &#147;Fund&#148;), including a majority of its members who are not considered to be &#147;interested persons&#148; under the 1940 Act (the &#147;Independent Directors&#148;) voting separately, approve on an annual basis the continuation of the Fund&#146;s investment advisory agreement (the &#147;Agreement&#148;) with the Fund&#146;s investment adviser, Aberdeen Asset Management Asia Limited (the &#147;Adviser&#148;), a wholly-owned subsidiary of Aberdeen Standard Asset Management PLC (&#147;Aberdeen&#148;). The Agreement was first approved by the Board and the Fund&#146;s stockholders in 2011, and the Adviser has provided the investment advisory and other services contemplated by the Agreement since December&nbsp;19, 2011 (the &#147;Aberdeen Assumption Date&#148;). At a meeting (the &#147;Contract Renewal Meeting&#148;) held in person on October&nbsp;29, 2019, the Board, including the Independent Directors, considered and approved the continuation of the Agreement for an additional one-year term. To assist in its consideration of the renewal of the Agreement, the Board requested, received and considered a variety of information (together with other information provided at the Contract Renewal Meeting, the &#147;Contract Renewal Information&#148;) about the Adviser, as well as the investment advisory arrangements for the Fund and one other closed-end fund in the same complex under the Board&#146;s supervision (the &#147;Other Aberdeen Fund&#148;), certain portions of which are discussed below. The presentation made by the Adviser to the Board at the Contract Renewal Meeting in connection with its evaluation of the Agreement encompassed the Fund and the Other Aberdeen Fund. In addition to the Contract Renewal Information, the Board received performance and other information throughout the year related to the services rendered by the Adviser to the Fund. The Board&#146;s evaluation took into account the information received since the Fund&#146;s inception, including the period since the Aberdeen Assumption Date, and also reflected the knowledge and familiarity gained as members of the Board with respect to the investment advisory and other services provided to the Fund by the Adviser under the Agreement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Board Approval of the Agreement.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> In its deliberations regarding renewal of the Agreement, the Board, including the Independent Directors, considered various factors, including those set forth below.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Nature, Extent and Quality of the Services Provided to the Fund under the Agreement.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> The Board received and considered Contract Renewal Information regarding the nature, extent and quality of services provided to the Fund by the Adviser under the Agreement during the past year. The Board also reviewed Contract Renewal Information regarding the Fund&#146;s compliance program established and conducted under the 1940 Act.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Board reviewed the qualifications, backgrounds and responsibilities of the Fund&#146;s senior personnel and the portfolio management team primarily responsible for the day-to-day portfolio management of the Fund. The Board</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">also considered, based on its knowledge of the Adviser and its affiliates, the Contract Renewal Information and the Board&#146;s discussions with the Adviser at the Contract Renewal Meeting, the general reputation and investment performance records of the Adviser and its affiliates and the financial resources of Aberdeen available to support its activities in respect of the Fund and the Other Aberdeen Fund.</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">21</font></b><a name="PB_21_110512_7056"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Supplemental Information</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (continued)</font></b></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Board considered the responsibilities of the Adviser under the Agreement, including the Adviser&#146;s coordination and oversight of the services provided to the Fund by other affiliated and unaffiliated parties.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In reaching its determinations regarding continuation of the Agreement, the Board took into account that the Fund&#146;s stockholders, in pursuing their investment goals and objectives, likely considered the reputation and the investment style, philosophy and strategy of the Adviser, as well as the resources available to the Adviser, in purchasing their shares.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Board concluded that, overall, the nature, extent and quality of the investment advisory and other services provided to the Fund under the Agreement have been of high quality.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Fund Performance.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> The Board received and considered performance information and analyses for the Fund, as well as for a group of funds identified by the Adviser as comparable to the Fund regardless of asset size (the &#147;Performance Peer Group&#148;), prepared by Strategic Insight, an independent provider of investment company data (such information being hereinafter referred to as the &#147;Strategic Insight Performance Information&#148;) as part of the Contract Renewal Information. The Performance Peer Group consisted of two funds, including the Fund, for each of the 1-, 3-, 5-, and 10-year periods ended June&nbsp;30, 2019. The Board noted that it had received and discussed information with the Adviser at periodic intervals throughout the year comparing the Fund&#146;s performance against its benchmark and its peer funds.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Strategic Insight Performance Information comparing the Fund&#146;s performance (annualized net total return) to that of the Performance Peer Group based on net asset value per share showed, among other things, that the Fund&#146;s performance for the 1-, 3- and 5-year periods ended June&nbsp;30, 2019 was ranked first among the funds in the Performance Peer Group for that period and for the 10-year period ended June&nbsp;30, 2019 was ranked second among the funds in the Performance Peer Group for that period (in these rankings, first is best). The Board noted that the small number of funds in the Performance Peer Group &#150; two, including the Fund &#150; made meaningful performance comparisons difficult. In addition, the Adviser noted that the one other fund in the Performance Peer Group has a similar investment objective but varies in investment policy and portfolio holdings. In addition to the Fund&#146;s performance relative to the Performance Peer Group, the Board considered the Fund&#146;s performance relative to its benchmark and in absolute terms. The Contract Renewal Information showed that the Fund underperformed its benchmark in each of the 1- and 3-year periods ended June&nbsp;30, 2019 but outperformed its benchmark for each of the 5- and 10-year periods. The Adviser noted that the Fund has outperformed its benchmark since the Aberdeen Assumption Date. The Board considered that the Fund&#146;s performance record for the 10-year period was achieved, in part, by a predecessor investment adviser to the Fund and did not give significant weight to performance information relating to periods prior to the Aberdeen Assumption Date.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Based on its review of performance and on other relevant factors, including those described above, the Board concluded that, under the circumstances, the Fund&#146;s performance supported continuation of the Agreement for an additional period of one year.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Management Fees and Expenses. </font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Board reviewed and considered the investment advisory fee (the &#147;Advisory Fee&#148;) payable under the Agreement by the Fund to the Adviser in light of the nature, extent and overall high quality of the investment advisory and other services provided by the Adviser to the Fund.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Additionally, the Board received and considered information and analyses (the &#147;Strategic Insight Expense Information&#148;) prepared by Strategic Insight, comparing the Advisory Fee and the Fund&#146;s overall expenses with those of funds in an expense group (the &#147;Expense Group&#148;) selected and provided by Strategic Insight as part of the Contract Renewal Information. The comparison was based upon the constituent funds&#146; latest fiscal years. The Expense Group consisted of the Fund, one other closed-end India equity fund, four China region funds, two Japan stock funds and four miscellaneous regional funds, as classified by Strategic Insight. The Expense Group funds had portfolio assets ranging from $87 million to $807 million. The Strategic Insight Expense Information, comparing the Fund&#146;s actual total expenses to the Expense Group, showed, among other things, that the Fund&#146;s contractual management fee, which consists of the gross advisory fee and gross administrative fee, ranked ninth of the twelve funds in the Expense Group (in these rankings, first is best) and was worse (i.e., higher) than the Expense Group median for that expense component, and that the Fund&#146;s net management fee (i.e., giving effect to any voluntary fee waivers to the advisory fee and administration fee implemented by the Adviser and by the managers of the other Expense Group funds) also ranked seventh among the twelve funds in the Expense Group and was worse than the Expense Group median. The Strategic Insight Expense Information showed that after all fee waivers, the Fund&#146;s total expense ratio ranked sixth among the twelve funds in the Expense Group and was better (i.e., lower) than the Expense Group median for</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">22</font></b><a name="PB_22_110907_5335"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;The   India Fund, Inc.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Supplemental Information</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (concluded)</font></b></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">that expense component. The Board noted the small number and varying types and sizes of funds and the inclusion of leveraged and non-leveraged funds in the Expense Group made meaningful expense comparisons difficult.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Board also reviewed Contract Renewal Information regarding fees charged by the Adviser to other U.S. clients, including registered investment companies with differing mandates, and to institutional and separate accounts (collectively, &#147;institutional accounts&#148;). Among other things, the Board considered: (i)&nbsp;that the Fund is subject to heightened regulatory requirements relative to institutional accounts; (ii)&nbsp;that the Fund is provided with office facilities and Fund officers (including the Fund&#146;s chief executive, chief financial and chief compliance officers); and (iii)&nbsp;that the Adviser coordinates and oversees the provision of services to the Fund by other fund service providers. The Board considered the fee comparisons in light of the different services provided in managing these other types of clients and funds.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Taking all of the above into consideration, the Board determined that the Advisory Fee was reasonable in light of the nature, extent, and overall quality of the investment advisory and other services provided to the Fund under the Agreement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Profitability.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> The Board, as part of the Contract Renewal Information, received an analysis of the profitability to the Adviser and its affiliates in providing services to the Fund for the past year and since the Aberdeen Assumption Date. In addition, the Board received the Adviser&#146;s revenue and cost allocation methodologies used in preparing such profitability data. The profitability analysis, among other things, indicated that profitability to the Adviser in providing investment advisory and other services to the Fund remained at a level which was not considered excessive by the Board in light of judicial guidance and the nature, extent and overall high quality of such services, notwithstanding expiration of the Expense Limitation Agreement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Economies of Scale.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> The Board received and discussed Contract Renewal Information concerning whether the Adviser would realize economies of scale if the Fund&#146;s assets grow. The Board noted that because the Fund is a closed-end fund with no current plans to seek additional assets beyond maintaining its dividend reinvestment plan, any significant growth in its assets generally will occur through appreciation in the value of the Fund&#146;s investment portfolio, rather than sales of additional shares in the Fund. The Board considered that the Fund&#146;s interval structure until it ended operated to reduce Fund assets since the Aberdeen Assumption Date. The Board determined that the Advisory Fee structure was appropriate under present circumstances.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Arial" style="font-size:9.5pt;font-style:italic;line-height:120%;">Other Benefits to the Adviser.</font></i><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;"> The Board considered other benefits received by the Adviser and its affiliates as a result of the Adviser&#146;s relationship with the Fund, including fees for administration and investor relation services, and did not regard such benefits as excessive.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">* &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">In light of all of the foregoing and other relevant factors, the Board determined that, under the circumstances, continuation of the Agreement would be in the best interests of the Fund and its stockholders and unanimously voted to continue the Agreement for a period of one additional year.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">No single factor reviewed by the Board was identified by the Board as the principal factor in determining whether to approve continuation of the Agreement for the next year, and each Board member attributed different weights to the various factors. The Independent Directors were advised by separate independent legal counsel throughout the process. Prior to the Contract Renewal Meeting, the Board received a memorandum prepared by counsel to the Fund discussing the Board&#146;s responsibilities in connection with the proposed continuation of the Agreement as part of the Contract Renewal Information and the Independent Directors separately received a memorandum discussing such responsibilities from their independent counsel. Prior to voting, the Independent Directors discussed the proposed continuation of the Agreement in a private session with their independent legal counsel at which no representatives of the Adviser were present.</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">23</font></b><a name="PB_23_111304_5796"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Dividend Reinvestment and Cash Purchase Plan</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Below is a summary of the Fund&#146;s current Dividend Reinvestment and Cash Purchase Plan (&#147;Plan&#148;). The Plan will be amended effective with distributions declared following the close of business on April&nbsp;30, 2020 as described in more detail below the current Plan summary.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund intends to distribute to stockholders substantially all of its net investment income and substantially all of its net realized capital gains at least annually. Net investment income for this purpose is income other than net realized long-term and short-term capital gains net of expenses.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Pursuant to the Plan, stockholders whose shares of common stock are registered in their own names will be deemed to have elected to have all distributions automatically reinvested by Computershare Trust Company N.A. (the &#147;Plan Agent&#148;) in the Fund shares pursuant to the Plan, unless such stockholders elect to receive distributions in cash. Stockholders who elect to receive distributions in cash will receive such distributions paid by check in U.S. Dollars mailed directly to the stockholder by the Plan Agent, as dividend paying agent. In the case of stockholders such as banks, brokers or nominees that hold shares for others who are beneficial owners, the Plan Agent will administer the Plan on the basis of the number of shares certified from time to time by the stockholders as representing the total amount registered in such stockholders&#146; names and held for the account of beneficial owners that have not elected to receive distributions in cash. Investors that own shares registered in the name of a bank, broker or other nominee should consult with such nominee as to participation in the Plan through such nominee, and may be required to have their shares registered in their own names in order to participate in the Plan.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Plan Agent serves as agent for the stockholders in administering the Plan. If the Directors of the Fund declare an income dividend or a capital gains distribution payable either in the Fund&#146;s common stock or in cash, nonparticipants in the Plan will receive cash and participants in the Plan will receive common stock, to be issued by the Fund or purchased by the Plan Agent in the open market, as provided below. If the market price per share on the valuation date equals or exceeds NAV per share on that date, the Fund will issue new shares to participants at NAV; provided, however, that if the NAV is less than 95% of the market price on the valuation date, then such shares will be issued at 95% of the market price. The valuation date will be the dividend or distribution payment date or, if that date is not a New York Stock Exchange trading day, the next preceding trading day. If NAV exceeds the market price of Fund shares at such time, or if the Fund should declare an income dividend or capital gains distribution payable only in cash, the Plan Agent will, as agent for the participants, buy Fund shares in the open market, on the New York Stock Exchange or elsewhere, for the participants&#146; accounts on, or shortly after, the</font></p>

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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">payment date. If, before the Plan Agent has completed its purchases, the market price exceeds the NAV of a Fund share, the average per share purchase price paid by the Plan Agent may exceed the NAV of the Fund&#146;s shares, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund on the dividend payment date. Because of the foregoing difficulty with respect to open-market purchases, the Plan provides that if the Plan Agent is unable to invest the full dividend amount in open-market purchases during the purchase period or if the market discount shifts to a market premium during the purchase period, the Plan Agent will cease making open-market purchases and will receive the uninvested portion of the dividend amount in newly issued shares at the close of business on the last purchase date.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Participants have the option of making additional cash payments to the Plan Agent, annually, in any amount from $100 to $3,000, for investment in the Fund&#146;s common stock. The Plan Agent will use all such funds received from participants to purchase Fund shares in the open market on or about February&nbsp;15.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Any voluntary cash payment received more than 30 days prior to this date will be returned by the Plan Agent, and interest will not be paid on any uninvested cash payment. To avoid unnecessary cash accumulations, and also to allow ample time for receipt and processing by the Plan Agent, it is suggested that participants send in voluntary cash payments to be received by the Plan Agent approximately ten days before an applicable purchase date specified above. A participant may withdraw a voluntary cash payment by written notice, if the notice is received by the Plan Agent not less than 48 hours before such payment is to be invested.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Plan Agent maintains all shareholder accounts in the Plan and furnishes written confirmations of all transactions in an account, including information needed by stockholders for personal and tax records. Shares in the account of each Plan participant will be held by the Plan Agent in the name of the participant, and each shareholder&#146;s proxy will include those shares purchased pursuant to the Plan.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">There is no charge to participants for reinvesting dividends or capital gains distributions or voluntary cash payments. The Plan Agent&#146;s fees for the reinvestment of dividends, capital gains distributions and voluntary cash payments will be paid by the Fund. There will be no brokerage charges with respect to shares issued directly by the Fund as a result of dividends or capital gains distributions payable either in stock or in cash. However, each participant will pay a pro rata share of brokerage commissions incurred with respect to the Plan Agent&#146;s open market purchases in</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">connection with the reinvestment of dividends, capital gains distributions and voluntary cash payments made by the participant. Brokerage charges for purchasing small amounts of stock</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">24</font></b><a name="PB_24_112017_2897"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;The   India Fund, Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Dividend Reinvestment and Cash Purchase Plan</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (continued)</font></b></p>
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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">for individual accounts through the Plan are expected to be less than the usual brokerage charges for such transactions because the Plan Agent will be purchasing stock for all participants in blocks and prorating the lower commission thus attainable.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The receipt of dividends and distributions under the Plan will not relieve participants of any income tax that may be payable on such dividends or distributions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Experience under the Plan may indicate that changes in the Plan are desirable. Accordingly, the Fund and the Plan Agent reserve the right</font></p>

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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">to terminate the Plan as applied to any voluntary cash payments made and any dividend or distribution paid subsequent to notice of the termination sent to members of the Plan at least 30 days before the record date for such dividend or distribution. The Plan also may be amended by the Fund or the Plan Agent, but (except when necessary or appropriate to comply with applicable law, rules&nbsp;or policies of a regulatory authority) only by at least 30 days&#146; written notice to participants in the Plan. All correspondence concerning the Plan should be directed to the Plan Agent at Computershare, P.O.&nbsp;Box 505000, Louisville, KY 40233.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;line-height:120%;">&nbsp;</font></b></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;line-height:120%;">On October&nbsp;29, 2019, the Board approved amendments to the Fund&#146;s Dividend Reinvestment Plan (&#147;Current Plan&#148;). The amended dividend reinvestment plan (&#147;Amended Plan&#148;) will go into effect with dividends declared after the close of business on April&nbsp;30, 2020. Below is a summary of the key changed terms.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 5.75pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Feature</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Current Plan</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Amended Plan</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<p style="margin:1.5pt 0in 1.5pt 5.75pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Frequency of Optional Cash Purchases</font></p>    </td>
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<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:28.18%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">Once annually</font></p>    </td>
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<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:16.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">Monthly</font></p>    </td>
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<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:1.5pt 0in 1.5pt 5.75pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Maximum Aggregate Annual Optional Cash   Purchase Amount</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:28.18%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">$3,000</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.16%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:16.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">$250,000</font></p>    </td>
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<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:1.5pt 0in 1.5pt 5.75pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Days to purchase DRIP Shares on the   Open Market</font></p>    </td>
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<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:28.18%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">On or shortly after payment date</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.16%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:16.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">3 - 5 business days</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:1.5pt 0in 1.5pt 5.75pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Schedule Recurring Deductions for   Optional Cash Purchases</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:28.18%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">No</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:2.16%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="16%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:16.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">Yes</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:1.5pt 0in 1.5pt 5.75pt;"><font size="2" face="Arial" style="font-size:9.5pt;">Online Bank Debits for Optional Cash   Purchases</font></p>    </td>
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<p style="margin:1.5pt 0in;"><font size="2" face="Arial" style="font-size:9.5pt;">Yes</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Below is a summary of the Amended Plan that will go into effect on April&nbsp;30, 2020.</font></b></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Fund intends to distribute to stockholders substantially all of its net investment income and to distribute any net realized capital gains at least annually. Net investment income for this purpose is income other than net realized long-term and short-term capital gains net of expenses. Pursuant to the Dividend Reinvestment and Optional Cash Purchase Plan (the &#147;Plan&#148;), stockholders whose shares of common stock are registered in their own names will be deemed to have elected to have all distributions automatically reinvested by Computershare Trust Company N.A. (the &#147;Plan Agent&#148;) in the Fund shares pursuant to the Plan, unless such stockholders elect to receive distributions in cash. Stockholders who elect to receive distributions in cash will receive such distributions paid by check in U.S. Dollars mailed directly to the stockholder by the Plan Agent, as dividend paying agent. In the case of stockholders such as banks, brokers or nominees that hold shares for others who are beneficial owners, the Plan Agent will administer the Plan on the basis of the number of shares certified from time to time by the stockholders as representing the total amount registered in such stockholders&#146; names and held for the account of beneficial owners that have not elected to receive distributions in cash. Investors that own shares registered in the name of a bank, broker or other nominee should consult with such nominee as to participation in the Plan through such nominee and may be required to have their shares registered in their own names in order to participate in the Plan. Please note that the</font></p>

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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;">Fund does not issue certificates so all shares will be registered in book entry form.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The Plan Agent serves as agent for the stockholders in administering the Plan. If the Directors of the Fund declare an income dividend or a capital gains distribution payable in cash, nonparticipants in the Plan will receive cash and participants in the Plan will receive common stock, to be issued by the Fund or purchased by the Plan Agent in the open market, as provided below. If the market price per share (plus expected brokerage commissions) on the valuation date equals or exceeds NAV per share on that date, the Fund will issue new shares to participants at NAV; provided, however, that if the NAV is less than 95% of the market price on the valuation date, then such shares will be issued at 95% of the market price. The valuation date will be the payable date for such distribution or dividend or, if that date is not a New York Stock Exchange trading day, the immediately preceding trading date. If NAV exceeds</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">  </font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">the market price of Fund shares at such time, or if the Fund should declare an income dividend or capital gains distribution payable only in cash, the Plan Agent will, as agent for the participants, buy Fund shares in the open market, on the New York Stock Exchange or elsewhere, for the participants&#146; accounts on, or shortly after, the payment date. If, before the Plan Agent has completed its purchases, the market price exceeds the NAV of a Fund share, the average per share purchase price paid by the Plan Agent may exceed the NAV of the Fund&#146;s shares, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund on the</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">25</font></b><a name="PB_25_122043_197"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Dividend Reinvestment and Cash Purchase Plan</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (concluded)</font></b></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">dividend payment date. Because of the foregoing difficulty with respect to open-market purchases, the Plan provides that if the Plan Agent is unable to invest the full dividend amount in open-market purchases during the purchase period or if the market discount shifts to a market premium during the purchase period, the Plan Agent will cease making open-market purchases and will receive the uninvested portion of the dividend amount in newly issued shares at the close of business on the last purchase date.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Participants have the option of making additional cash payments of a minimum of $50 per investment (by check, one-time online bank debit or recurring automatic monthly ACH debit) to the Plan Agent for investment in the Fund&#146;s common stock, with an annual maximum contribution of $250,000. The Plan Agent will use all such funds received from participants to purchase Fund shares in the open market on the 25</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:120%;position:relative;top:-5.0pt;">th</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">&#160;day of each month or the next trading day if the 25</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:120%;position:relative;top:-5.0pt;">th</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">&#160;is not a trading day.</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">If the participant sets up recurring automatic monthly ACH debits, funds will be withdrawn from his or her U.S. bank account on the 20</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:120%;position:relative;top:-5.0pt;">th</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">&#160;of each month or the next business day if the 20</font><font size="1" face="Arial" style="font-size:5.0pt;line-height:120%;position:relative;top:-5.0pt;">th</font><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">&#160;is not a banking business day and invested on the next investment date. The Plan Agent maintains all stockholder accounts in the Plan and furnishes written confirmations of all transactions in an account, including information needed by stockholders for personal and tax records. Shares in the account of each Plan participant will be held by the Plan Agent in the name of the participant, and each stockholder&#146;s proxy will include those shares purchased pursuant to the Plan. There will be no brokerage charges with respect to common shares issued directly by the Fund. However, each participant will pay a pro rata share of brokerage commissions incurred in connection with open market purchases.</font></p>

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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">Participants also have the option of selling their shares through the Plan. The Plan supports two types of sales orders. Batch order sales are submitted on each market day and will be grouped with other sale requests to be sold. The price will be the average sale price obtained by Computershare&#146;s broker, net of fees, for each batch order and will be sold generally within 2 business days of the request during regular open market hours. Please note that all written sales requests are always processed by Batch Order. ($10 and $0.12 per share). Market Order sales will sell at the next available trade. The shares are sold real time when they hit the market, however an available trade must be presented to complete this transaction. Market Order sales may only be requested by phone at 1-800-647-0584 or using Investor Center through www.computershare.com/buyaberdeen. ($25 and $0.12 per share).</font></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The receipt of dividends and distributions under the Plan will not relieve participants of any income tax that may be payable on such dividends or distributions. The Fund or the Plan Agent may terminate the Plan as applied to any voluntary cash payments made and any dividend or distribution paid subsequent to notice of the termination sent to members of the Plan at least 30 days prior to the record date for such dividend or distribution. The Plan also may be amended by the Fund or the Plan Agent, but (except when necessary or appropriate to comply with applicable law, rules&nbsp;or policies of the Securities and Exchange Commission or any other regulatory authority) only by mailing a written notice at least 30 days&#146; prior to the effective date to the participants in the Plan. All correspondence concerning the Plan should be directed to the Plan Agent at Computershare Trust Company N.A., P.O.&nbsp;Box 505000, Louisville, KY 40233-5000.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">26</font></b><a name="PB_26_122446_7056"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,   Inc.&nbsp;&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Management of the Fund</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited)</font></b></p>
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<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">The names of the Directors and Officers of the Fund, their addresses, years of birth, and principal occupations during the past five years are provided in the tables below. Directors that are deemed &#147;interested persons&#148; (as that term is defined in Section&nbsp;2(a)(19) of the Investment Company Act of 1940, as amended) of the Fund or the Fund&#146;s investment adviser are included in the table below under the heading &#147;Interested Directors.&#148; Directors who are not interested persons, as described above, are referred to in the table below under the heading &#147;Independent Directors.&#148;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Board of Directors Information</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt 4.3pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Name, Address and<br>   Year of Birth</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Position(s) Held<br>   with the Fund</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Term&nbsp;of&nbsp;Office<br>   and&nbsp;Length&nbsp;of<br>   Time&nbsp;Served</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Principal&nbsp;Occupation(s)<br>   During&nbsp;Past&nbsp;Five&nbsp;Years</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of<br>   Funds&nbsp;in<br>   Fund&nbsp;Complex*<br>   Overseen&nbsp;by<br>   Director</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Other<br>   Directorships<br>   Held&nbsp;by<br>   Director</font></b></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><u><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Independent Directors</font></u></b></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Nisha Kumar<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   1900 Market Street,<br>   Suite&nbsp;200, Philadelphia<br>   PA 19103<br><br></font></p>
<p style="margin:3.0pt 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1970</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director, Audit   Committee Member and Nominating Committee Member</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2016; current   term ends at the 2020 annual meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Nisha Kumar has   been a Managing Director and the Chief Financial Officer and Chief Compliance   Officer of Greenbriar Equity Group LLC since 2011. Nisha is a member of the   Council on Foreign Relations and serves as a board member to the following   organizations: GB Flow Investment LLC, EDAC Technologies Corp., Nordco   Holdings, LLC, and SEKO Global Logistics Network, LLC.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director of Legg   Mason Fixed Income Funds; Former Director of Aberdeen Income Credit   Strategies Fund from 2017 to 2018; and Former Director of The Asia Tigers   Fund from 2016 to 2018.</font></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Nancy Yao Maasbach</font></b><font size="1" face="Arial" style="font-size:8.0pt;"><br>   c/o Aberdeen Standard<br>   Investments Inc.<br>   1900 Market Street,<br>   Suite&nbsp;200, Philadelphia<br>   PA 19103</font></p>
<p style="margin:3.0pt 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:3.0pt 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1972</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director, Audit   Committee Member and Nominating Committee Member</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2016; current   term ends at the 2022 annual meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Ms.&nbsp;Maasbach   has been the President of the Museum of Chinese in America since 2015. From   2009 to 2014, she was the executive director of the Yale China Association,   one of the oldest non-profit organizations dedicated to building U.S.-China   relations at a grassroots level. Ms.&nbsp;Maasbach has also been a member of   the Council on Foreign Relations since 2015.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">6</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Former Director of   The Asia Tigers Fund,&nbsp;Inc. from 2016 to 2018</font></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Jeswald W. Salacus<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   1900 Market Street,<br>   Suite&nbsp;200, Philadelphia<br>   PA 19103<br><br></font></p>
<p style="margin:3.0pt 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1938</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director, Chairman   of the Board of Directors, Chairman of the Audit Committee Member and   Chairman of the Nominating Committee Member</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 1993; current   term ends at the 2021 annual Meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Henry J. Braker   Professor of Commercial Law at The Fletcher School of Law&nbsp;&amp;   Diplomacy, Tufts University, since 1986. He has also served as International   Arbitrator, Arbitration Tribunal,&nbsp;ICSID, World Bank since 2004.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Former Director and   Chairman of The Asia Tigers Fund,&nbsp;Inc. and former Director of 30   registered investment companies advised by Legg Mason Partners Fund Advisor,   LLC and its affiliates</font></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Luis Rubio<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen   Standard<br>   Investments Inc.<br>   1900 Market Street,<br>   Suite&nbsp;200, Philadelphia<br>   PA 19103<br><br></font></p>
<p style="margin:3.0pt 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1975</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director, Audit   Committee Member and Nominating Committee Member</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 1993; current   term ends at the 2020 annual meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Mr.&nbsp;Rubio has   been the Chairman of Mexico-Evalua-CIDAC (Center of Research for Development)   since 2000.He is also a frequent contributor of op-ed pieces to The Wall   Street Journal and the author and editor of 48 books. Mr.&nbsp;Rubio was the   Chairman of the Mexican Council on Foreign Relations from 2017 to 2019.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Former Director of   The Asia Tigers Fund,&nbsp;Inc. from 199 to 2018 and one registered   investment company advised by Advantage Advisers L.L.C. or its affiliates;   Director of Coca Cola Femsa.</font></p>    </td>   </tr>  </table>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">27</font></b><a name="PB_27_123958_6201"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Management of the Fund</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (continued)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt 4.3pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Name, Address and<br>   Year of Birth</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Position(s) Held<br>   with the Fund</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Term&nbsp;of&nbsp;Office<br>   and&nbsp;Length&nbsp;of<br>   Time&nbsp;Served</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Principal&nbsp;Occupation(s)<br>   During&nbsp;Past&nbsp;Five&nbsp;Years</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of<br>   Funds&nbsp;in<br>   Fund&nbsp;Complex*<br>   Overseen&nbsp;by<br>   Director</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Other<br>   Directorships<br>   Held&nbsp;by<br>   Director</font></b></p>    </td>   </tr>
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<p style="margin:3.0pt 0in .0001pt 4.3pt;"><b><u><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Interested Directors</font></u></b></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Martin Gilbert**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen   Standard<br>   Investments Inc.<br>   1900 Market Street,<br>   Suite&nbsp;200,<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1955</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2012; current   term ends at the 2021 annual meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Mr.&nbsp;Gilbert   has been Vice Chairman of Standard Life Aberdeen PLC and Chairman of Aberdeen   Standard Investments Inc. since March&nbsp;2019. He is Co-Founder (and former   Chief Executive)of Aberdeen Asset Management PLC, having been a Director   since 1983. Mr.&nbsp;Gilbert is Senior Independent Director of Glencore plc   and Chairman of the Prudential Regulation Authority&#146;s Practitioner Panel, as   well as a member of the International Advisory Panel of the Monetary   Authority of Singapore and the International Advisory Board of British   American Business. He serves as officer and/or director of various Standard   Life Aberdeen plc subsidiary companies, Aberdeen-managed investment trusts   and funds.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">30</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Former Director of   The Asia Tigers Fund,&nbsp;Inc. from 2012 to 2018</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Hugh Young**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen   Standard<br>   Investments Inc.<br>   1900 Market Street,<br>   Suite&nbsp;200,<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1958</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Director</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2012; current   term ends at the 2022 annual meeting</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Mr.&nbsp;Young has   been a member of the Executive Management Committee and Director of Aberdeen   Asset Management PLC since 1991 and 2011, respectively. He has been Managing   Director of ASIAL since 1991.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:8.0pt;">1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Former Director of   Aberdeen Australia Equity Fund,&nbsp;Inc. from 2000 to 2019.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt 7.9pt;text-align:justify;text-indent:-7.9pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">*&nbsp;&nbsp;Aberdeen Income Credit Strategies Fund, Aberdeen Asia-Pacific Income Fund,&nbsp;Inc., Aberdeen Global Income Fund,&nbsp;Inc., Aberdeen Australia Equity Fund,&nbsp;Inc., Aberdeen Emerging Markets Equity Income Fund,&nbsp;Inc., Aberdeen Japan Equity Fund,&nbsp;Inc., The India Fund,&nbsp;Inc., Aberdeen Global Dynamic Dividend Fund, Aberdeen Total Dynamic Dividend Fund, Aberdeen Global Premier Properties Fund, Aberdeen Investment Funds (which currently consists of 4 portfolios) , Aberdeen Funds (which currently consists of 22 portfolios) and Aberdeen Standard Investments ETFs (which currently consists of 4 portfolios ) have a common investment adviser, or an investment adviser that is affiliated with the Investment Adviser and Sub-Adviser, and may thus be deemed to be part of the same &#147;Fund Complex.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt 7.9pt;text-align:justify;text-indent:-7.9pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">**&nbsp;Deemed to be an Interested Director of the Fund because of his position held with affiliates of the Fund&#146;s investment adviser and sub-adviser.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">28</font></b><a name="PB_28_125201_5335"></a></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;&nbsp;The   India Fund, Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Management of the Fund</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (continued)</font></b></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Information Regarding Officers* Who Are Not Directors</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Name, Address and<br>   Year of Birth</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Position(s)&nbsp;Held<br>   with the Fund</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Term of Office<br>   and Length of<br>   Time Served</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Principal   Occupation(s)&nbsp;During Past Five Years</font></b></p>    </td>   </tr>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt 4.3pt;"><b><u><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Officers</font></u></b></p>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="line-height:12.0pt;margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Alan Goodson**</font></b><font size="1" face="Arial" style="font-size:8.0pt;"><br>   c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1974</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2011</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently,   Director, Vice President and Head of Product &#150; Americas for Aberdeen Standard   Investments Inc., overseeing Product Management and Product Development for   ASI&#146;s registered and unregistered investment companies in the U.S. and   Canada. Mr.&nbsp;Goodson is Director and Vice President of Aberdeen Standard   Investments Inc. and joined ASI in 2000.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Joseph Andolina**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen   Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1978</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Chief Compliance   Officer, Vice President &#150; Compliance</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2017</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Chief   Risk Officer Americas for Aberdeen Standard Investments Inc. Prior to joining   the Compliance Department, he was a member of ASI&#146;s Legal Department, where   he served as U.S. Counsel and worked primarily on matters relating to ASI&#146;s   registered funds.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Andrea Melia**</font></b><font size="1" face="Arial" style="font-size:8.0pt;"><br>   c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1969</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Treasurer</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2011</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Vice   President and Head of Fund Operations, Traditional Assets &#150; Americas for   Aberdeen Standard Investments Inc. (since 2009).</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Megan Kennedy**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen   Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1974</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Secretary and Vice   President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2011</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Head of   Product Management for Aberdeen Standard Investments Inc. (since 2009).   Ms.&nbsp;Kennedy joined Standard Investments Inc. in 2005.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Bev Hendry**</font></b><font size="1" face="Arial" style="font-size:8.0pt;"><br>   c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1953</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2014</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Chairman   &#150; Americas for Standard Life Aberdeen plc (2018-present). Mr.&nbsp;Hendry was   Chief Executive Officer &#150; Americas for Aberdeen Asset Management PLC   (2014-2018) and Chief Operating Officer for Hansberger Global Investors   (2008-2014).</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Adrian Lim</font></b><font size="1" face="Arial" style="font-size:8.0pt;"><br>   c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103 <br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year   of Birth: 1971</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2011</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently,&nbsp;Investment   Director on the Asian Equities Team. Adrian joined the company in 2000 as a   manager in private equity on the acquisition of Murray Johnstone and   transferred to his current position soon after.</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund, Inc.&nbsp;&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">29</font></b><a name="PB_29_125739_2897"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Management of the Fund</font></b><font size="5" face="Arial" style="font-size:18.0pt;">  </font><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (continued)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Name, Address and<br>   Year of Birth</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Position(s)&nbsp;Held<br>   with the Fund</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Term of Office<br>   and Length of<br>   Time Served</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Principal   Occupation(s)&nbsp;During Past Five Years</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Yoojeong Oh<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103</font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1981</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2019</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Yoojeong Oh is an Investment Director on the Asian   Equities Team at Aberdeen Standard Investments. Yoojeong joined the company   in 2005 and was initially a member of the UK and European Equities Team in   London before moving to Singapore.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Christian Pittard**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103</font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1973</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:15.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#F1F1F2" style="background:#F1F1F2;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2011</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Global Head of Product Opportunities for   Aberdeen Asset Management PLC. Previously, Director and Vice President   (2006-2008), Chief Executive Officer (from October&nbsp;2005 to   September&nbsp;2006) of Aberdeen Asset Management Inc.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Lucia Sitar**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard Investments Inc. <br>   Attn: US Legal <br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103 </font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1971</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2012</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Vice President and Managing U.S. Counsel for Aberdeen   Standard Investments Inc. Ms.&nbsp;Sitar joined Aberdeen Standard Investments   Inc. in July&nbsp;2007 as U.S. Counsel.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">James Thom<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1977</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2019</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, a Senior Investment Director on the Asian   Equities Team at Aberdeen Standard Investments. James joined the company in   2010.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Jeffrey Cotton**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1977</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Vice President - Compliance</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2011</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Chief Risk Officer &#150; Europe, the Middle East   and Africa. Mr.&nbsp;Cotton joined ASI in 2010 as Head of   Compliance-Americas.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Sharon Ferrari**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St. Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1977</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Assistant Treasurer</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2013</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Senior Fund Administration Manager for Aberdeen   Standard Investments Inc. since 2013. She joined the company as a Senior Fund   Administrator in 2008.</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">30</font></b><a name="PB_30_134309_985"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">The   India Fund,&nbsp;Inc.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">Management of the Fund </font></b><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">(unaudited) (concluded)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Name, Address and<br>   Year of Birth</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Position(s)&nbsp;Held<br>   with the Fund</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Term of Office<br>   and Length of<br>   Time Served</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Principal   Occupation(s)&nbsp;During Past Five Years</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt 4.3pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Heather Hasson**<br>    </font></b><font size="1" face="Arial" style="font-size:8.0pt;">c/o Aberdeen Standard<br>   Investments Inc.<br>   Attn: US Legal<br>   1900 Market St., Suite&nbsp;200<br>   Philadelphia, PA 19103<br><br></font></p>
<p style="margin:0in 0in .0001pt 4.3pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Year of Birth: 1982</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Assistant Secretary</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Since 2018</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Currently, Senior Product Manager for Aberdeen Standard   Investments Inc. since 2009. She joined Aberdeen Standard Investments Inc. as   a Fund Administrator in 2006.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt 9.35pt;text-align:justify;text-indent:-9.35pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">*&nbsp;&nbsp;Officers hold their positions with the Fund until a successor has been duly elected and qualifies. Officers are generally elected annually by the Board.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt 9.35pt;text-align:justify;text-indent:-9.35pt;"><font size="2" face="Arial" style="font-size:9.5pt;line-height:120%;">** Messrs.&nbsp;Pittard, Cotton, Hendry, Goodson and Andolina and Mses. Melia, Kennedy, Sitar, Hasson and Ferrari hold officer position(s)&nbsp;in one or more of the following funds: Aberdeen Income Credit Strategies Fund, Aberdeen Asia-Pacific Income Fund,&nbsp;Inc., Aberdeen Global Income Fund,&nbsp;Inc., Aberdeen Australia Equity Fund,&nbsp;Inc., Aberdeen Emerging Markets Equity Income Fund,&nbsp;Inc., Aberdeen Japan Equity Fund,&nbsp;Inc., The India Fund,&nbsp;Inc., Aberdeen Global Dynamic Dividend Fund, Aberdeen Total Dynamic Dividend Fund, Aberdeen Global Premier Properties Fund, Aberdeen Investment Funds (which currently consists of 4 portfolios) , Aberdeen Funds (which currently consists of 22 portfolios) and Aberdeen Standard Investments ETFs (which currently consists of 4 portfolios) have a common investment adviser, or an investment adviser that is affiliated with the Investment Adviser and Sub-Adviser, and may thus be deemed to be part of the same &#147;Fund Complex.&#148;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:7.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:7.0pt;font-weight:bold;">31</font></b><a name="PB_31_134622_7056"></a></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Directors</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Martin Gilbert</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Nisha Kumar</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Nancy Yao Maasbach</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Luis F. Rubio</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Jeswald W. Salacuse,   <i>Chairman</i></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Hugh Young</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Investment   Manager</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Aberdeen Standard   Investments (Asia) Limited<br>   21 Church Street<br>   #01-01 Capital Square Two<br>   Singapore 049480</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Administrator</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Aberdeen Standard   Investments Inc.<br>   1900 Market Street, Suite&nbsp;200<br>   Philadelphia, PA 19103</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">State Street Bank   and Trust Company<br>   1 Heritage Drive, 3rd Floor<br>   North Quincy, MA 02171</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Transfer   Agent</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Computershare Trust   Company, N.A.<br>   P.O.&nbsp;Box 505000<br>   Louisville, KY 40233</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Independent   Registered Public Accounting Firm</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">KPMG LLP<br>   1601 Market Street<br>   Philadelphia, PA 19103</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Fund Legal   Counsel</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Simpson   Thacher&nbsp;&amp; Bartlett LLP<br>   900 G Street, N.W. <br>   Washington, DC 20001</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">Investor   Relations</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">Aberdeen Standard   Investments Inc.<br>   1900 Market Street, Suite&nbsp;200<br>   Philadelphia, PA 19103<br>   1-800-522-5465<br>   Investor.Relations@aberdeenstandard.com</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="303" height="74" src="g34263bi21i001.jpg"></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:5.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:6.0pt 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:9.5pt;font-weight:bold;">Aberdeen   Standard Investments (Asia) Limited (formerly Aberdeen Asset Management Asia   Limited)</font></b></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Times New Roman" style="font-size:6.0pt;line-height:120%;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:9.0pt;line-height:120%;">Notice is hereby given in accordance with   Section&nbsp;23(c)&nbsp;of the Investment Company Act of 1940, as amended,   that the Fund may purchase, from time to time, shares of its common stock in   the open market.</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:6.0pt;line-height:120%;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:9.0pt;line-height:120%;">Shares of The India Fund,&nbsp;Inc. are traded on the NYSE   under the symbol &#147;IFN&#148;. Information about the Fund&#146;s net asset value and   market price is available at www.aberdeenifn.com.</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Times New Roman" style="font-size:6.0pt;line-height:120%;">&nbsp;</font></p>
<p style="line-height:120%;margin:0in 0in .0001pt;text-align:justify;"><font size="1" face="Arial" style="font-size:9.0pt;line-height:120%;">This report, including the financial   information herein, is transmitted to the shareholders of The India   Fund,&nbsp;Inc. for their general information only. It does not have regard   to the specific investment objectives, financial situation and the particular   needs of any specific person. Past performance is no guarantee of future   returns.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">IFN-Annual</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.5pt;text-indent:-42.5pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 2 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Code of Ethics.</font></b></p>
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<p style="margin:0in 0in .0001pt 40.5pt;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">As of December&nbsp;31, 2019, the Registrant had adopted a Code of Ethics that applies to the Registrant&#146;s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party (the &#147;Code of Ethics&#148;).</font></p>
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<p style="margin:0in 0in .0001pt 40.5pt;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Definitional.</font></p>
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<p style="margin:0in 0in .0001pt 40.5pt;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">There have been no amendments during the period covered by this report, to a provision of the Code of Ethics.</font></p>
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<p style="margin:0in 0in .0001pt 40.3pt;text-indent:-22.3pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">During the period covered by this report, there were no waivers to the provisions of the Code of Ethics</font></p>
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<p style="margin:0in 0in .0001pt 40.3pt;text-indent:-22.3pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Not Applicable</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 40.5pt;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">A copy of the Code of Ethics has been filed as an exhibit to this Form&nbsp;N-CSR</font></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 3 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Audit Committee Financial Expert.</font></b></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-2.05pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Registrant&#146;s Board of Directors has determined that Nisha Kumar, a member of the Board of Directors&#146; Audit Committee, possesses the attributes, and has acquired such attributes through means, identified in instruction 2 of Item 3 to Form&nbsp;N-CSR to qualify as an &#147;audit committee financial expert,&#148; and has designated Ms.&nbsp;Kumar as the Audit Committee&#146;s financial expert. Ms.&nbsp;Kumar is considered to be an &#147;independent&#148; director, as such term is defined in paragraph (a)(2)&nbsp;of Item 3 to Form&nbsp;N-CSR.</font></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-42.2pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 4 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Principal Accountant Fees and Services.</font></b></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)&nbsp;&#150; (d)&nbsp;Below is a table reflecting the fee information requested in Items 4(a)&nbsp;through (d):</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Fiscal Year<br>   Ended</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)<br>    <u>Audit Fees</u></font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(b)<br>    <u>Audit-Related Fees</u></font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(c)</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font><font size="2" style="font-size:11.0pt;"><br>    <u>Tax Fees</u></font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(d)<br>    <u>All Other Fees</u></font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">December&nbsp;31, 2019</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$50,314</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:1.45pt 0in 2.9pt 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$8,500</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:1.45pt 0in 2.9pt 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0</font></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">December&nbsp;31, 2018</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$50,142</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:1.45pt 0in 2.9pt 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:1.45pt 0in 2.9pt 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$8,500</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:1.45pt 0in 2.9pt 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 63.35pt;text-align:justify;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The Tax Fees are for the completion of the Registrant&#146;s federal and state tax returns.</font></p>
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<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(e)(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The&#160; Registrant&#146;s Audit Committee (the &#147;Committee&#148;) has adopted a Charter that provides that the Committee shall annually select, retain or terminate, and recommend to the Independent Directors for their ratification, the selection, retention or termination, the </font></p>
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<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Registrant&#146;s independent auditor and, in connection therewith, to evaluate the terms of the engagement (including compensation of the independent auditor) and the qualifications and independence of the independent auditor, including whether the independent auditor provides any consulting, auditing or tax services to the Registrant&#146;s investment adviser or any sub-adviser, and to receive the independent auditor&#146;s specific representations as to their independence, delineating all relationships between the independent auditor and the Registrant, consistent with the PCAOB Rule&nbsp;3526 or any other applicable auditing standard.&#160; PCAOB Rule&nbsp;3526 requires that, at least annually, the auditor: (1)&nbsp;disclose to the Committee in writing all relationships between the auditor and its related entities and the Registrant and its related entities that in the auditor&#146;s professional judgment may reasonably be thought to bear on independence; (2)&nbsp;confirm in the letter that, in its professional judgment, it is independent of the Registrant within the meaning of the Securities Acts administered by the SEC; and (3)&nbsp;discuss the auditor&#146;s independence with the audit committee. </font><font size="2" style="font-size:11.0pt;">The Committee is responsible for actively engaging in a dialogue with the independent auditor with respect to any disclosed relationships or services that may impact the objectivity and independence of the independent auditor and for taking, or recommending that the full Board take, appropriate action to oversee the independence of the independent auditor.&#160; </font><font size="2" style="font-size:11.0pt;">The Committee Charter also provides that the Committee shall review in advance, and consider approval of, any and all proposals by Management or the Registrant&#146;s investment adviser that the Registrant, the investment adviser or their affiliated persons, employ the independent auditor to render &#147;permissible non-audit services&#148; to the Registrant and to consider whether such services are consistent with the independent auditor&#146;s independence. The Committee may delegate to one or more of its members (&#147;Delegates&#148;) authority to pre-approve permissible non-audit services to be provided to the Registrant. Any pre-approval determination of a Delegate shall be presented to the full Committee at its next meeting. The Committee shall communicate any pre-approval made by it or a Delegate to the Adviser, who will ensure that the appropriate disclosure is made in the Registrant&#146;s periodic reports required by Section&nbsp;30 of the Investment Company Act of 1940, as amended, and other documents as required under the federal securities laws.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(e)(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">None of the services described in each of paragraphs (b)&nbsp;through (d)&nbsp;of this Item involved a waiver of the pre-approval requirement by the Audit Committee pursuant to Rule&nbsp;2-01 (c)(7)(i)(C)&nbsp;of Regulation S-X.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 70.9pt;text-align:justify;text-indent:-28.35pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Not applicable.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 70.9pt;text-align:justify;text-indent:-28.35pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Non-Audit Fees</font></p>
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<p style="margin:0in 0in .0001pt 70.9pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">For the fiscal years ended December&nbsp;31, 2019 and December&nbsp;31, 2018, respectively, KPMG billed $811,175 and $803,986 for aggregate non-audit fees for services to the Registrant and to the Registrant&#146;s Investment Adviser.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 70.9pt;text-align:justify;text-indent:-28.35pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Not applicable.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-42.2pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 5 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Audit Committee of Listed Registrants.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The Registrant has a separately-designated standing Audit Committee established in accordance with Section&nbsp;3(a)(58)(A)&nbsp;of the Exchange Act (15 U.S.C. 78c(a)(58)(A)).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 71.8pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">For the fiscal year ended December&nbsp;31, 2019, the Audit Committee members were:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Nisha Kumar</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Nancy Yao Maasbach</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Jeswald Salacuse</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:29.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Luis F. Rubio</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Not applicable.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-42.2pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 6 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Investments.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.5pt;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Included as part of the Report to Stockholders filed under Item 1 of this Form&nbsp;N-CSR.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.5pt;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Not applicable.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 7 &#150;</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</font></b></p>
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<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pursuant to the Registrant&#146;s Proxy Voting Policy and Procedures, the Registrant has delegated responsibility for its proxy voting to its Investment Manager, provided that the Registrant&#146;s Board of Directors has the opportunity to periodically review the Investment Manager&#146;s proxy voting policies and material amendments thereto.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">The proxy voting policies of the Registrant are included herewith as </font><font size="2" style="font-size:11.0pt;">Exhibit&nbsp;(d)&nbsp;</font><font size="2" color="black" style="color:black;font-size:11.0pt;">and policies of the Investment Manager are included as </font><font size="2" style="font-size:11.0pt;">Exhibit&nbsp;(e).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-align:justify;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Item 8 -</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Portfolio Managers of Closed-End Management Investment Companies.</font></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)(</font><font size="2" style="font-size:11.0pt;">1)&nbsp;The information in the table below is as of March&nbsp;[&#160; ], 2020.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Services Rendered</font></u></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .05in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Past Business   Experience</font></u></p>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hugh Young<br>   Managing Director</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="32%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in 0in 0in;width:32.0%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for   equities globally from the Singapore office.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hugh Young is a   Managing Director of Aberdeen Standard Investment (Asia) Limited. Previously,   he served as Head of Asia Pacific, a main board director and Head of   Investments for Aberdeen Asset Management (before its merger with Standard   Life plc). Hugh joined Aberdeen Standard Investments as a result of the   merger between Aberdeen Asset Management and Standard Life in   August&nbsp;2017. Hugh joined Aberdeen in 1985 to manage Asian equities from   London, having started his investment career in 1980. He founded   Singapore-based Aberdeen Asia in 1992 and since then he has built the company   into one of the largest and most well-respected managers of such assets   globally. Hugh is a director of a number of group subsidiary companies and   group-managed investment trusts and funds. Hugh graduated with a BA (Hons) in   Politics from Exeter University.</font></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Adrian Lim<br>   Investment Director</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for Asian   equities portfolio management</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Currently an Investment   Director on the Asian Equities team. Adrian joined ASI from Murray Johnstone   in December&nbsp;2000. He was previously an associate director at Arthur   Andersen advising clients on mergers&nbsp;&amp; acquisitions in South East   Asia. He moved from private equity to the Asian Equity team in   July&nbsp;2003.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kristy Fong<br>   Senior Investment Director</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for Asian   equities portfolio management</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Currently a Senior   Investment Director on the Asian Equities team. Kristy joined ASI in 2004   from UOB KayHian Pte Ltd where she was an analyst.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Flavia Cheong<br>   Head of Equities &#150; Asia Pacific</font></p>    </td>
<td width="1%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:.7pt 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="32%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in 0in 0in;width:32.0%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for company   research and oversight of portfolio construction for Asia Pacific Equities</font></p>    </td>
<td width="1%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:.7pt 0in 0in 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:.7pt 0in 0in 0in;width:35.74%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Currently, Head of   Equities &#151; Asia Pacific for ASI. Joined Aberdeen in 1996. Before joining   Aberdeen, she was an economist with the Investment Company of the People&#146;s   Republic of China, and earlier with the Development Bank of Singapore.</font></p>    </td>   </tr>
<tr>
<td width="28%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:none;border-top:none;padding:.7pt 0in 0in 0in;width:28.66%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">James Thom<br>   Senior Investment Director</font></p>    </td>
<td width="1%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:.7pt 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="32%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt 0in 0in 0in;width:32.0%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for Asian   equities portfolio management</font></p>    </td>
<td width="1%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:.7pt 0in 0in 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:.7pt 0in 0in 0in;width:35.74%;">
<p style="margin:0in 0in .0001pt .05in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Currently a Senior   Investment Director on the Asian Equities team. He joined ASI in 2010 from   Actis, an Emerging Markets Private Equity firm.</font></p>    </td>   </tr>  </table>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(</font>2)&nbsp; The information in the table below is as of December&nbsp;31, 2019.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="99%" style="border:none;border-collapse:collapse;margin-left:2.0pt;">
<tr height="95" style="height:71.55pt;">
<td width="13%" nowrap height="95" valign="bottom" style="border:solid windowtext 1.0pt;height:71.55pt;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Name of<br>   Portfolio Manager</font></p>    </td>
<td width="1%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:28.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Type&nbsp;of&nbsp;Accounts</font></p>    </td>
<td width="1%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total<br>   Number<br>   of<br>   Accounts<br>   Managed</font></p>    </td>
<td width="1%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" colspan="2" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:15.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total Assets ($M)</font></p>    </td>
<td width="1%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Number of<br>   Accounts<br>   Managed&nbsp;for<br>   Which<br>   Advisory<br>   Fee is Based<br>   on<br>   Performance </font></p>    </td>
<td width="1%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" colspan="2" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:14.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total&nbsp;Assets&nbsp;for<br>   Which<br>   Advisory&nbsp;Fee&nbsp;is<br>   Based&nbsp; on<br>   Performance ($M)</font></p>    </td>
<td width="0%" height="95" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:71.55pt;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Hugh Young</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Registered Investment   Companies</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">923.48</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;"></td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Pooled Investment   Vehicles </font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">58</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">19,793.90</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;"></td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other Accounts</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">49</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">13,243.38</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">3,305.18</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Adria Lim</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Registered Investment   Companies</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">923.48</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;"></td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Pooled Investment   Vehicles </font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">58</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">19,793.90</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;"></td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other Accounts</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">49</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">13,243.38</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">3,305.18</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr height="8" style="height:6.0pt;">
<td width="13%" height="8" style="border:solid windowtext 1.0pt;border-top:none;height:6.0pt;padding:0in 0in 0in 0in;width:13.24%;"></td>
<td width="30%" colspan="2" height="8" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:6.0pt;padding:0in 0in 0in 0in;width:30.1%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="10%" colspan="2" height="8" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:6.0pt;padding:0in 0in 0in 0in;width:10.86%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="17%" colspan="4" height="8" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:6.0pt;padding:0in 0in 0in 0in;width:17.86%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="15%" colspan="3" height="8" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:6.0pt;padding:0in 0in 0in 0in;width:15.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="12%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;">
<p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p></td>   </tr>
<tr>
<td width="13%" nowrap valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Kristy Fong</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Registered Investment   Companies</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">923.48</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Pooled Investment   Vehicles </font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">58</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">19,793.90</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other Accounts</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">49</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">13,243.38</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">3,305.18</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Flavia Cheong</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Registered Investment   Companies</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">923.48</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Pooled Investment   Vehicles </font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">58</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">19,793.90</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other Accounts</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">49</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">13,243.38</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">3,305.18</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="0%" nowrap valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" nowrap valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.24%;">
<p style="margin:0in 0in .0001pt 12.0pt;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">James Thom</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.88%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.22%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Registered Investment   Companies</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.98%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">923.48</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:2.98%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-left:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-left:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-left:none;padding:0in 0in 0in 0in;width:3.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-left:none;padding:0in 0in 0in 0in;width:11.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-left:none;padding:0in 0in 0in 0in;width:.68%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.3%;"></td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.68%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Pooled Investment   Vehicles </font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.82%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">58</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">19,793.90</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:3.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">0</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.68%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:13.3%;"></td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.68%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:28.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other Accounts</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.82%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:8.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">49</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:4.56%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">13,243.38</font></p>    </td>
<td width="1%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.02%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:3.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">$</font></p>    </td>
<td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:11.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">3,305.18</font></p>    </td>
<td width="0%" nowrap valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:.68%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Total assets are as of December&nbsp;31, 2019 and have been translated to U.S. dollars at a rate of &#163;1.00 = $1.32.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The portfolio managers&#146; management of &#147;other accounts&#148; may give rise to potential conflicts of interest in connection with their management of the Registrant&#146;s investments, on the one hand, and the investments of the other accounts, on the other. The other accounts may have the same investment objective as the Registrant. Therefore, a potential conflict of interest may arise as a result of the identical investment objectives, whereby the portfolio manager could favor one account over another.&nbsp; However, the Adviser believes that these risks are mitigated by the fact that: (i)&nbsp;accounts with like investment strategies managed by a particular portfolio manager are generally managed in a similar fashion, subject to exceptions to account for particular investment restrictions or policies applicable only to certain accounts, differences in cash flows and account sizes, and similar factors; and (ii)&nbsp;portfolio manager personal trading is monitored to avoid potential conflicts. In addition, the Adviser has adopted trade allocation procedures that require equitable allocation of trade orders for a particular security among participating accounts.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In some cases, another account managed by the same portfolio manager may compensate Aberdeen based on the performance of the portfolio held by that account.&nbsp; The existence of such a performance-based fee may create additional conflicts of interest for the portfolio manager in the allocation of management time, resources and investment opportunities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Another potential conflict could include instances in which securities considered as investments for the Registrant also may be appropriate for other investment accounts managed by the Adviser or its affiliates.&nbsp; Whenever decisions are made to buy or sell securities by the Registrant and one or more of the other accounts simultaneously, the Adviser may aggregate the purchases and sales of the securities and will allocate the securities transactions in a manner that it believes to be equitable under the circumstances. As a result of the allocations, there may be instances where the Registrant will not participate in a transaction that is allocated among other accounts. While these aggregation and allocation policies could have a detrimental effect on the price or amount of the securities available to the Registrant from time to time, it is the opinion of the Adviser that the benefits from the policies outweigh any disadvantage that may arise from exposure to simultaneous transactions.&nbsp; The Registrant has adopted policies that are designed to eliminate or minimize conflicts of interest, although there is no guarantee that procedures adopted under such policies will detect each and every situation in which a conflict arises.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">With respect to non-discretionary model delivery accounts, Aberdeen will deliver model changes subsequent to commencing trading on behalf of discretionary accounts.&nbsp; Model changes are typically delivered on a security by security basis.&nbsp; The timing of such delivery is determined by Aberdeen and will depend on the anticipated market impact of trading.&nbsp; Market impact includes, but is not limited to, factors such as liquidity and price impact.&nbsp; When minimal market impact is anticipated, Aberdeen typically delivers security level model changes after such time when approximately two-thirds of the full discretionary order has been executed.&nbsp; Although Aberdeen anticipates delivering model changes of such securities after approximately two-thirds of the discretionary order has been executed, Aberdeen may deliver model changes prior to or substantially after two-thirds have been executed depending on prevailing market conditions and trader discretion.&nbsp; With respect to securities for which Aberdeen anticipates a more significant market impact, Aberdeen intends to withhold model deliver changes until such time when the entire discretionary order has been fully executed.&nbsp; Anticipated market impact on any given security is determined at the sole discretion of Aberdeen based on prior market experience and current market conditions.&nbsp; Actual market impact may vary significantly from anticipated market impact.&nbsp; Notwithstanding the aforementioned, Aberdeen may provide order instructions simultaneously or prior to completion of trading for other accounts if the trade represents a relatively small proportion of the average daily trading volume of the particular security or other instrument.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Aberdeen does not trade for non-discretionary model delivery clients. Because model changes may be delivered to non-discretionary model clients prior to the completion of Aberdeen&#146;s discretionary account trading, Aberdeen may compete against these clients in the market when attempting to execute its orders for its discretionary accounts.&nbsp; As a result, discretionary clients may experience negative price and liquidity impact due to multiple market participants attempting to trade in a similar direction on the same security.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Timing delays or other operational factors associated with the implementation of trades may result in non-discretionary and model delivery clients receiving materially different prices relative to other client accounts.&nbsp; This may create performance dispersions within accounts with the same or similar investment mandate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(a)(</font><font size="2" style="font-size:11.0pt;">3)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">ASI&#146;s remuneration policies are designed to support its business strategy as a leading international asset manager.&nbsp; The objective is to attract, retain and reward talented individuals for the delivery of sustained, superior returns for ASI&#146;s clients and shareholders.&nbsp;&nbsp; ASI operates in a highly competitive international employment market, and aims to maintain its strong track record of success in developing and retaining talent.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">ASI&#146;s policy is to recognize corporate and individual achievements each year through an appropriate annual bonus scheme.&nbsp; The bonus is a single, fully discretionary variable pay award. The aggregate value of awards in any year is dependent on the group&#146;s overall performance and profitability.&nbsp; Consideration is also given to the levels of bonuses paid in the market.&nbsp; Individual awards, which are payable to all members of staff, are determined by a rigorous assessment of achievement against defined objectives.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The variable pay award comprises a mixture of cash and a deferred award based on the size of the award. Deferred awards are by default Standard Life Aberdeen plc Shares, with an option to put up to 50% of the deferral into funds.&#160; Overall compensation packages are designed to be competitive relative to the investment management industry.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 42.0pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">Base Salary</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">ASI&#146;s policy is to pay a fair salary commensurate with the individual&#146;s role, responsibilities and experience, and having regard to the market rates being offered for similar roles in the asset management sector and other comparable companies. Any increase is generally to reflect inflation and is applied in a manner consistent with other ASI employees; any other increases must be justified by reference to promotion or changes in responsibilities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">Annual Bonus</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Remuneration Committee determines the key performance indicators that will be applied in considering the overall size of the bonus pool.&nbsp; In line with practices amongst other asset management companies, individual bonuses are not subject to an absolute cap.&nbsp; However, the aggregate size of the bonus pool is dependent on the group&#146;s overall performance and profitability.&nbsp; Consideration is also given to the levels of bonuses paid in the market.&nbsp; Individual awards are determined by a rigorous assessment of achievement against defined objectives, and are reviewed and approved by the Remuneration Committee.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">ASI has a deferral policy which is intended to assist in the retention of talent and to create additional alignment of executives&#146; interests with ASI&#146;s sustained performance and, in respect of the deferral into funds, managed by ASI, to align the interest of asset managers with our clients.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Staff performance is reviewed formally at least once a year. The review process evaluates the various aspects that the individual has contributed to ASI, and specifically, in the case of portfolio managers, to the relevant investment team. Discretionary bonuses are based on client service, asset growth and the performance of the respective portfolio manager. Overall participation in team meetings, generation of original research ideas and contribution to presenting the team externally are also evaluated.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In the calculation of a portfolio management team&#146;s bonus, ASI takes into consideration investment matters (which include the performance of funds, adherence to the company investment process, and quality of company meetings) as well as more subjective issues such as team participation and effectiveness at client presentations through key performance indicator (KPI) scorecards.&nbsp; To the extent performance is factored in, such performance is not judged against any specific benchmark and is evaluated over the period of a year - January&nbsp;to December. The pre- or after-tax performance of an individual account is not considered in the determination of a portfolio manager&#146;s discretionary bonus; rather the review process evaluates the overall performance of the team for all of the accounts the team manages.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Portfolio manager performance on investment matters is judged over all of the accounts the portfolio manager contributes to and is documented in the appraisal process.&nbsp; A combination of the team&#146;s and individual&#146;s performance is considered and evaluated.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Although performance is not a substantial portion of a portfolio manager&#146;s compensation, ASI also recognizes that fund performance can often be driven by factors outside one&#146;s control, such as (irrational) markets, and as such pays attention to the effort by portfolio managers to ensure integrity of our core process by sticking to disciplines and processes set, regardless of momentum and &#145;hot&#146; themes.&nbsp; Short-terming is thus discouraged and trading-oriented managers will thus find it difficult to thrive in the ASI environment.&nbsp; Additionally, if any of the aforementioned undue risks were to be taken by a portfolio manager, such trend would be identified via ASI&#146;s dynamic compliance monitoring system.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In rendering investment management services, the Advisers may use the resources of additional investment adviser subsidiaries of Standard Life Aberdeen plc. These affiliates have entered into a memorandum of understanding (&#147;MOU&#148;) pursuant to which investment professionals from each affiliate may render portfolio management, research or trading services to Aberdeen clients. Each investment professional who renders portfolio management, research or trading services under a MOU or personnel sharing arrangement</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(&#147;Participating Affiliate&#148;) must comply with the provisions of the Advisers Act, the 1940 Act, the Securities Act of 1933, as amended, (the &#147;Securities Act&#148;), the Exchange Act, and the Employee Retirement Income </font>Security Act of 1974, and the laws of states or countries in which the Advisers do business or has clients. No remuneration is paid by the Fund with respect to the MOU/personnel sharing arrangements.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(4)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="90%" style="border:none;border-collapse:collapse;">
<tr style="page-break-inside:avoid;">
<td width="39%" valign="top" bgcolor="white" style="background:#DFDFDF;border:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.92%;">
<p style="margin:0in 0in .0001pt 41.75pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Individual</font></u></b></p>    </td>
<td width="60%" valign="top" bgcolor="white" style="background:#DFDFDF;border:solid windowtext 1.0pt;border-left:none;padding:0in 0in 0in 0in;width:60.08%;">
<p style="margin:0in 0in .0001pt .05in;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dollar Range of Equity Securities in the<br>   Registrant Beneficially Owned by the Portfolio<br>   Manager as of December&nbsp;31, 2019</font></u></b></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="39%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:39.92%;">
<p style="margin:0in 0in .0001pt 41.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hugh Young</font></p>    </td>
<td width="60%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:60.08%;">
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$10,001-$50,000</font></p>    </td>   </tr>
<tr height="17" style="height:12.6pt;page-break-inside:avoid;">
<td width="39%" height="17" valign="top" style="border:solid windowtext 1.0pt;border-top:none;height:12.6pt;padding:0in 0in 0in 0in;width:39.92%;">
<p style="margin:0in 0in .0001pt 41.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Adrian Lim</font></p>    </td>
<td width="60%" height="17" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:12.6pt;padding:0in 0in 0in 0in;width:60.08%;">
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="39%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:39.92%;">
<p style="margin:0in 0in .0001pt 41.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kristy Fong</font></p>    </td>
<td width="60%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 0in 0in 0in;width:60.08%;">
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>    </td>   </tr>
<tr height="19" style="height:14.35pt;page-break-inside:avoid;">
<td width="39%" height="19" valign="top" style="border:solid windowtext 1.0pt;border-top:none;height:14.35pt;padding:0in 0in 0in 0in;width:39.92%;">
<p style="margin:0in 0in .0001pt 41.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Flavia Cheong</font></p>    </td>
<td width="60%" height="19" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:14.35pt;padding:0in 0in 0in 0in;width:60.08%;">
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>    </td>   </tr>
<tr height="18" style="height:13.85pt;page-break-inside:avoid;">
<td width="39%" height="18" valign="top" style="border:solid windowtext 1.0pt;border-top:none;height:13.85pt;padding:0in 0in 0in 0in;width:39.92%;">
<p style="margin:0in 0in .0001pt 41.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">James Thom </font></p>    </td>
<td width="60%" height="18" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:13.85pt;padding:0in 0in 0in 0in;width:60.08%;">
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .25in;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 58.5pt;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Not applicable.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9 &#150; Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="89%" style="border:none;border-collapse:collapse;">
<tr>
<td width="19%" valign="top" style="border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Period</font></p>    </td>
<td width="18%" valign="top" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;Total<br>   Number of<br>   Shares<br>   Purchased</font></p>    </td>
<td width="19%" valign="top" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;Average Price<br>   Paid per Share</font></p>    </td>
<td width="21%" valign="top" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;Total Number<br>   of Shares<br>   Purchased as Part<br>   of Publicly<br>   Announced Plans<br>   or Programs </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">1</font></p>    </td>
<td width="20%" valign="top" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&nbsp;Maximum<br>   Number of Shares<br>   That May&nbsp;Yet Be<br>   Purchased Under<br>   the Plans or<br>   Programs </font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">1</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;31, 2019</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,272</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$20.38</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,272</font></p>    </td>
<td width="20%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,521,520</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;28, 2019</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$20.59</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>    </td>
<td width="20%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;31, 2019</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">April&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">April&nbsp;30, 2019</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May&nbsp;31, 2019</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;30, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">July&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">July&nbsp;31, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">August&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">August&nbsp;31, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109955\20-3426-3\task9636236\3426-3-gc.htm',USER='109955',CD='Mar  8 13:53 2020' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="89%" style="border:none;border-collapse:collapse;">
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;30, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">October&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">October&nbsp;31, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November&nbsp;30, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr>
<td width="19%" style="border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">through</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December&nbsp;31, 2019</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="19%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="21%" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>    </td>
<td width="20%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,520</font></p>    </td>   </tr>
<tr height="30" style="height:22.45pt;">
<td width="19%" height="30" style="border:solid windowtext 1.0pt;border-top:none;height:22.45pt;padding:0in 5.4pt 0in 5.4pt;width:19.32%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>    </td>
<td width="18%" height="30" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:22.45pt;padding:0in 5.4pt 0in 5.4pt;width:18.64%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,272</font></p>    </td>
<td width="19%" height="30" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:22.45pt;padding:0in 5.4pt 0in 5.4pt;width:19.92%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$20.47</font></p>    </td>
<td width="21%" height="30" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:22.45pt;padding:0in 5.4pt 0in 5.4pt;width:21.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,272</font></p>    </td>
<td width="20%" height="30" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:22.45pt;padding:0in 5.4pt 0in 5.4pt;width:20.42%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 10.35pt;text-align:justify;text-indent:-13.5pt;"><font size="1" face="Times New Roman" style="font-size:6.0pt;position:relative;top:-3.0pt;">&nbsp;&nbsp;(1)</font><font size="1" style="font-size:9.0pt;">&nbsp;The open market repurchase policy was authorized on October&nbsp;30, 2012. The program authorized management to make open market purchases from time to time in an aggregate amount up to 10% of the Fund&#146;s outstanding shares, as of a date determined by the Board. Such purchases may be made when the Fund&#146;s shares are trading at certain discounts to net asset value. On July&nbsp;31, 2018, the Board authorized additional shares eligible to be repurchased from time to time on the open market in an amount up to 10% of the Fund&#146;s outstanding shares as of July&nbsp;31, 2018.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 10 &#150; Submission of Matters to a Vote of Security Holders.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the period ended December&nbsp;31, 2019, there were no material changes to the procedures by which shareholders may recommend nominees to the Registrant&#146;s Board of Directors.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 11 - Controls and Procedures.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Registrant&#146;s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant&#146;s disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c)&nbsp;under the Investment Company Act of 1940 (the &#147;Act&#148;) (17 CFR 270.30a-3(c)) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule&nbsp;30a-3(b)&nbsp;under the Act (17 CFR 270.30a3(b)) and Rule&nbsp;13a-15(b)&nbsp;or 15d-15(b)&nbsp;under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b)&nbsp;or 240.15d15(b)).</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>There were no changes in the Registrant&#146;s internal control over financial reporting (as defined in Rule&nbsp;30a-3(d)&nbsp;under the Act (17 CFR 270.30a-3(d)) that occurred during the Registrant&#146;s last fiscal quarter covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant&#146;s internal control over financial reporting.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 12 - Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 42.55pt;text-indent:-42.55pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 13 Exhibits.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Code of Ethics of the Registrant for the period covered by this report as required pursuant to Item 2 of this Form&nbsp;N-CSR.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Certifications pursuant to Rule&nbsp;30a-2(a)&nbsp;under the Investment Company Act of 1940, as amended.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Not applicable.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Not applicable</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Certifications pursuant to Rule&nbsp;30a-2(b)&nbsp;under the Investment Company Act of 1940, as amended.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A copy of the Registrant&#146;s notices to stockholders, which accompanied distributions paid, pursuant to the Registrant&#146;s Managed Distribution Policy since the Registrant&#146;s last filed N-CSR, are filed herewith as Exhibits 13(c)(1), as required by the terms of the Registrant&#146;s SEC exemptive order.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Proxy Voting Policy of Registrant.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-29.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Investment Adviser&#146;s Proxy Voting Policies</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">SIGNATURES</font></u></b></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Aberdeen Emerging Markets   Equity Income Fund,&nbsp;Inc.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">/s/   Alan   Goodson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Alan Goodson,</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Principal Executive Officer of</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">March&nbsp;9, 2020</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">By:</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.82%;">
<p style="margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">/s/   Alan   Goodson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.82%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Alan Goodson,</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Principal Executive Officer of</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">March&nbsp;9, 2020</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">/s/   Andrea   Melia&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Andrea Melia,</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Principal Financial Officer of</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.82%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="52%" valign="top" style="padding:0in 0in 0in 0in;width:52.82%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">March&nbsp;9, 2020</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 42.0pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">EXHIBIT&nbsp;LIST</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">13(a)(1)&nbsp;&#150; Code of Ethics of the Registrant for the period covered by this report as required pursuant to Item 2 of this Form&nbsp;N-CSR.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">13(a)(2)&nbsp;&#150; Rule&nbsp;30a-2(a)&nbsp;Certifications</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">13(b)&nbsp;&#150; Rule&nbsp;30a-2(b)&nbsp;Certifications</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.4pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">13(c)&nbsp;&#150; Distribution notice to stockholders</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">13(d)&nbsp;&#150; Registrant&#146;s Proxy Voting Policies</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">13(e)&nbsp;&#150; Investment Manager&#146;s and Investment Adviser&#146;s Proxy Voting Policies</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<FILENAME>a20-3426_3ex99dcodeeth.htm
<DESCRIPTION>EX-99.CODEETH
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit 99.CODEETH</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CODE OF ETHICS (SOX)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;font-weight:bold;">(Principal Executive Officer/President and Principal Financial Officer/Treasurer)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">I.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Purpose of the Code/Covered Officers</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Pursuant to Section&nbsp;406 of the Sarbanes-Oxley Act of 2002, the Securities and Exchange Commission (&#147;SEC&#148;) has adopted rules&nbsp;requiring annual disclosure of an investment company&#146;s code of ethics applicable to its principal executive, principal financial and principal accounting officers.&#160; The Funds have adopted this Code of Ethics (the &#147;Code&#148;) pursuant to these rules.&#160; The Code applies to the series (each a &#147;Fund&#148;).&#160; The Code specifically applies to each Fund&#146;s President/Principal Executive Officer and Treasurer/Principal Financial Officer (&#147;Covered Officers&#148;) for the purpose of promoting:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">full, fair, accurate, timely and understandable disclosure in reports and documents that are filed with, or submits to, the SEC and in other public communications made by the Funds;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">compliance with applicable laws, rules&nbsp;and regulations;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">an environment that encourages disclosure of ethical and compliance related concerns;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code without fear of reprisal; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">accountability for adherence to the Code.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Covered Officers are integral to the Funds&#146; goal of creating a culture of high ethical standards and commitment to compliance.&#160; In their roles, the Covered Officers will refrain from engaging in any activity that may compromise their professional ethics or otherwise prejudice their ability to carry out their duties to the Funds.&#146;&#160; They will act in good faith, with due care, competence and diligence, without misrepresenting material facts or allowing their independent judgment to be subordinated.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">II.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Actual and Apparent Conflicts of Interest</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Overview:</font></b><font size="2" style="font-size:11.0pt;">&#160; A &#147;conflict of interest&#148; occurs when a Covered Officer&#146;s private interest interferes with the interests of, or service to, the Funds.&#160; For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper benefits as a result of his or her position with the Funds.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Certain conflicts of interest arise out of the relationship between Covered Officers and each Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940 (the &#147;1940 Act&#148;) and the Investment Advisers Act of 1940 (the &#147;Advisers Act&#148;).&#160; For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Funds because of their status as &#147;affiliated persons&#148; of the Funds.&#160; Each Fund&#146;s Adviser and Sub-adviser (the &#147;adviser(s)&#148;) have adopted and implemented respective compliance programs and procedures that are designed to prevent, or identify and correct, violations of these provisions.&#160; This Code does not, and is not intended to repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.&#160; Each Covered Officer should be sensitive to situations that may give rise to actual as well as apparent</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">conflicts of interest and should encourage his or her colleagues who provide service to the Funds, whether directly or indirectly, to do the same.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between each Fund and the investment adviser (and distributor to the Aberdeen open-end funds) of which the Covered Officers are also officers or employees.&#160; As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund or the investment adviser or for both), be involved in establishing policies and implementing decisions that will have different effects on the investment adviser, distributor and the Funds.&#160; The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Funds and the Adviser and is consistent with the performance by the Covered Officers of their duties as officers of each Fund.&#160; Thus, if performed in conformity with the provisions of the 1940 Act and the Advisers Act, such activities will be deemed to have been handled ethically.&#160; In addition, it is recognized by the Funds&#146; Board that the Covered Officers may also be officers or employees of the Funds.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Other conflicts of interest are covered by this Code, even if such conflicts of interest are not subject to provisions in the 1940 Act and the Advisers Act.&#160; The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Funds.&#160; A defining question is, &#147;What is the long term interest of current shareholders?&#148;&#160; The following list provides examples of conflicts of interest under this Code, but Covered Officers should keep in mind that these examples are not exhaustive.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Each Covered Officer must:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">not use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Funds whereby the Covered Officer would directly or indirectly benefit personally to the detriment of the Funds;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">not cause the Funds to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Funds;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">not use material non-public knowledge of Fund transactions made or contemplated for the Funds to trade personally or cause others to trade personally in contemplation of the market effect of such transactions;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">report at least annually affiliations or other relationships related to conflicts of interest covered by the Funds&#146; Directors and Officers Questionnaire.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Any activity or relationship that would present a conflict for a Covered Officer would likely also present a conflict for the Covered Officer if a member of the Covered Officer&#146;s family engages in such activity or has such a relationship.&#160; There are some conflict of interest situations that should always be discussed with the Compliance Officer prior to their occurrence, or if foreseen, as soon as reasonably possible after discovery.&#160; Examples of these include:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">service on the board of any public company;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">any outside business activity that detracts from the ability of a Covered Officer to devote appropriate time and attention to his or her responsibilities as a Covered Officer of the Funds;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">the receipt of any non-nominal gifts in excess of $100.00;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">the receipt of any entertainment from any company with which the Funds has current or prospective business dealings unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">any ownership interest in, or any consulting or employment relationship with any of the Funds&#146; service providers, other than its investment adviser, investment sub-adviser, principal underwriter, administrator or any affiliated person thereof;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Funds for effecting Fund transactions or for selling or redeeming shares other than an interest arising from the Covered Officer&#146;s employment, such as compensation or equity ownership.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">III.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Definitions</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(A)</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">&#147;<i>Covered Officer</i>&#148; with respect to a Fund means the principal executive officer of the Fund and senior financial officers of the Fund, including the principal financial officer, controller or principal accounting officer, or persons performing similar functions, regardless of whether these persons are employed by the Fund or a third party.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(B)</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">&#147;<i>Executive Officer</i>&#148; of a Fund has the same meaning as set forth in Rule&nbsp;3b-7 under the Securities Exchange Act of 1934, as amended.&#160; Subject to any changes in that rule, the term &#147;executive officer,&#148; when used in the Code, means the president, any vice president, any officer who performs a policy making function, or any other person who performs similar policy making functions for a Fund.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(C)</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">&#147;<i>Waiver</i>&#148; means the approval by a Fund&#146;s CCO of a material departure from a provision of the Code.&#160; &#147;<i>Waiver&#148; </i>includes an &#147;<i>Implicit Waiver,&#148; </i>which is a Fund&#146;s failure to take action within a reasonable period of time regarding a material departure from a provision of this Code that has been made known to an Executive Officer of the Fund.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">IV.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Disclosure and Compliance</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Each Covered Officer:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">should familiarize himself with the disclosure requirements generally applicable to the Funds;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">should not knowingly misrepresent, or cause others to misrepresent, facts about the Funds to others, whether within or outside the Funds, including the Funds&#146; Board and auditors, and to governmental regulators and self-regulatory organizations;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">should, to the extent appropriate within his or her area of responsibility, consult with other officers and employees of the Funds and the Advisers with the goal of promoting comprehensive, fair, accurate, timely and understandable disclosure in reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">should cooperate with the each Fund&#146;s independent accountants, regulatory agencies, and internal auditors in their review of the Funds and its operations;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">should ensure the establishment of appropriate policies and procedures for the protection and retention of accounting records and information as required by applicable law, regulation, or regulatory guidelines and establish and administer financial controls that are appropriate to ensure the integrity of the financial reporting process and the availability of timely, relevant information for the Funds&#146; safe and sound operation; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">has the responsibility to promote compliance with the standards and restrictions imposed by applicable laws, rules&nbsp;and regulations.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">V.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Reporting and Accountability</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Each Covered Officer must:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">upon adoption of this Code (or thereafter&#160; as applicable, upon becoming a Covered Officer), affirm in writing that he has received, read, and understands this Code;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">annually thereafter affirm that he has complied with the requirements of this Code;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">not retaliate against any other Covered Officer or any employee of the Adviser, or their affiliated persons, or any other employee of a private contractor that provides service to the Funds, for reports of potential violations that are made in good faith; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">notify the Funds&#146; CCO promptly if he or she knows or suspects that a violation of applicable laws, regulations, or of this Code has occurred, is occurring, or is about to occur.&#160; Failure to do so is itself a violation of this Code.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">See <b>Exhibit&nbsp;A</b> for the form of PEO/PFO certification.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The</font><font size="2" style="font-size:11.0pt;"> Funds&#146; CCO is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation.&#160; However, any approvals or Waivers sought by the President will be considered by the Funds&#146; Audit Committee.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Funds will follow these procedures in investigating and enforcing this Code.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The Funds&#146; Compliance Officer will take all appropriate action to investigate any potential violations reported to him/her.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">If, after such investigation, the Compliance Officer believes that no violation has occurred, he or she is not required to take any further action.&#160; The Compliance Officer is authorized to consult, as appropriate, with the chair of the Audit Committee and Counsel to the Independent Board, and is encouraged to do so after consultation with each Fund&#146;s President when, in the Compliance Officer&#146;s opinion such consultation will not increase the risk to shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Any matter that the Compliance Officer believes is a violation will be reported to the Audit Committee (the &#147;Committee&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">If the Committee concurs that a violation has occurred, it will inform and make a recommendation to the full Board, which will consider appropriate action, which may include review of and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Adviser or its Board; or a recommendation to dismiss the Covered Officer.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Each Fund&#146;s Board will be responsible for granting Waivers, as appropriate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:11.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">Any changes to or Waivers of this Code will, to the extent required, be disclosed as provided by the SEC rules.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">VI.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Sanctions</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The matters covered in the Code are of the utmost importance to the Funds and their stockholders and are essential to each Fund&#146;s ability to conduct its business in accordance with its stated values.&#160; Each Covered Officer and each Executive Officer is expected to adhere to these rules</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">(to the extent applicable) in carrying out his or her duties for the Funds. The conduct of each Covered Officer and each Executive Officer can reinforce an ethical atmosphere and positively influence the conduct of all officers, employees and agents of the Funds. A Fund will, if appropriate, take action against any Covered Officer whose actions are found to violate the Code. Appropriate sanctions for violations of the Code will depend on the materiality of the violation to the Fund.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Sanctions may include, among other things, a requirement that the violator undergo training related to the violation, a letter or sanction or written censure by the Board, the imposition of a monetary penalty, suspension of the violator as an officer of a Fund or termination of the employment of the violator. If a Fund has suffered a loss because of violations of the Code, the Fund may pursue remedies against the individuals or entities responsible.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">VII.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Other Policies and Procedures</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">This Code shall be the sole code of ethics adopted by the Funds for the purposes of Section&nbsp;406 of the Sarbanes-Oxley Act and the rules&nbsp;and forms applicable to registered investment companies thereunder.&#160; Insofar as other policies or procedures of the Funds, the Adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities if the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code.&#160; The Funds&#146; and Adviser&#146;s code of ethics under Rule&nbsp;17j-1 under the Investment Company Act of 1940 are not part of this Code.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">VIII.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Amendments</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Any amendments to this Code must be approved or ratified by a majority vote of the each Fund&#146;s Board, including a majority of Independent Board members.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">IX.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Confidentiality</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly.&#160; Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the appropriate Board and its Counsel.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">X.</font></b><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Internal Use</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">This Code is intended solely for internal use by the Funds and does not constitute an admission, by or on behalf of the Funds, as to any fact, circumstance, or legal conclusion.&#160; This Code is a statement of certain fundamental principles, policies, and procedures that govern the Covered Officers in the conduct of each Fund&#146;s business.&#160; It is not intended and does not create any rights in any employee, investor, supplier, creditor, shareholder or any other person.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit&nbsp;A</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CODE OF ETHICS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">PURSUANT TO THE SARBANES-OXLEY ACT OF 2002</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Initial and Annual Certification of Compliance</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="35%" noshade align="left" style="color:black;"></div>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Name (please print)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">This is to certify that I have received a copy of the Code of Ethics Pursuant to the Sarbanes-Oxley Act of 2002 (&#147;Code&#148;) for the following Funds:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">List of Funds</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">I have read and understand the Code.&#160; Moreover,&nbsp;I agree to promptly report to the Chief Compliance Officer any violation or possible violation of this Code of which I become aware.&#160; I understand that violation of the Code will be grounds for disciplinary action or dismissal.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" face="Times New Roman" style="font-size:11.0pt;font-style:italic;">Check one:</font></i></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Initial</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">[&#160;&#160; ]</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">I further certify that I am subject to the Code and will comply with each of the Code&#146;s provisions to which I am subject.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Annual</font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">[&#160;&#160; ]</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">I further certify that I have complied with and will continue to comply with each of the provisions of the Code to which I am subject.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<TYPE>EX-99.CERT
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<DESCRIPTION>EX-99.CERT
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<p align="right" style="margin:0in 0in .0001pt 42.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.CERT</font></b></p>
<p align="right" style="margin:0in 0in .0001pt 42.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CERTIFICATION PURSUANT TO RULE 30A-2(A)&nbsp;UNDER THE 1940 ACT AND SECTION&nbsp;302 OF THE</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SARBANES-OXLEY ACT</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 18.2pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">I, Andrea Melia, certify that:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 36.2pt;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">I have reviewed this report on Form&nbsp;N-CSR of The India Fund,&nbsp;Inc.;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">2.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">3.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">4.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">The registrant&#146;s other certifying officer(s)&nbsp;and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c)&nbsp;under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule&nbsp;30a-3(d)&nbsp;under the Investment Company Act of 1940) for the registrant and have:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(a)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(b)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(c)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(d)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">5.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">The registrant&#146;s other certifying officer(s)&nbsp;and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(a)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(b)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date: </font><font size="2" style="font-size:11.0pt;">March&nbsp;9, 2020</font></p>
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<p style="margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/   Andrea   Melia&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Andrea Melia</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CERTIFICATION PURSUANT TO RULE 30A-2(A)&nbsp;UNDER THE 1940 ACT AND SECTION&nbsp;302 OF THE</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SARBANES-OXLEY ACT</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 18.2pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">I, Alan Goodson, certify that:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 34.55pt;text-align:justify;text-indent:-16.55pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">I have reviewed this report on Form&nbsp;N-CSR of </font>The India Fund,&nbsp;Inc.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 34.55pt;text-align:justify;text-indent:-16.55pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">2.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">3.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">4.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">The registrant&#146;s other certifying officer(s)&nbsp;and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c)&nbsp;under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule&nbsp;30a-3(d)&nbsp;under the Investment Company Act of 1940) for the registrant and have:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(a)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(b)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(c)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(d)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 35.0pt;text-align:justify;text-indent:-16.8pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">5.</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">The registrant&#146;s other certifying officer(s)&nbsp;and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(a)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(b)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date: </font><font size="2" style="font-size:11.0pt;">March&nbsp;9, 2020</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/   Alan   Goodson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Alan Goodson</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal Executive Officer</font></p>    </td>
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<DESCRIPTION>EX-99.906CERT
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit 99.906CERT</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">CERTIFICATION PURSUANT TO RULE 30A-2(B)&nbsp;UNDER THE 1940 ACT AND SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Alan Goodson, Principal Executive Officer, and Andrea Melia, Principal Financial Officer, of The India Fund,&nbsp;Inc., a Maryland corporation (the &#147;Registrant&#148;), each certify that:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The Registrant&#146;s periodic report on Form&nbsp;N-CSR for the period ended December&nbsp;31, 2019 (the &#147;Form&nbsp;N-CSR&#148;) fully complies with the requirements of Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of the Securities Exchange Act of 1934, as amended, as applicable; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">The information contained in the Form&nbsp;N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">PRINCIPAL EXECUTIVE OFFICER</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i><i><u><font size="2" style="font-size:11.0pt;font-style:italic;">/s/   Alan Goodson</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Alan Goodson</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date: March&nbsp;9, 2020</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">PRINCIPAL FINANCIAL OFFICER</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></i><i><u><font size="2" style="font-size:11.0pt;font-style:italic;">/s/   Andrea Melia</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Andrea Melia</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Date: March&nbsp;9, 2020</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">This certification is being furnished solely pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 and is not being filed as part of Form&nbsp;N-CSR or as a separate disclosure document.&#160; A signed original of this written statement required by Section&nbsp;906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<DOCUMENT>
<TYPE>EX-99.13(C)(1)
<SEQUENCE>5
<FILENAME>a20-3426_3ex99d13c1.htm
<DESCRIPTION>EX-99.13(C)(1)
<TEXT>


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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit 99.13(c)(1)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">The India Fund,&nbsp;Inc.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">NYSE: IFN Cusip: 454089103</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">1900 Market Street, Suite&nbsp;200</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Philadelphia, PA 19103</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">DISTRIBUTION NOTICE</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">The India Fund,&nbsp;Inc. (NYSE: IFN)</font><font size="2" color="black" style="color:black;font-size:11.0pt;"> (the &#147;Fund&#148;), </font><font size="2" color="black" style="color:black;font-size:11.0pt;">a closed-end equity fund, today announced that it paid </font><font size="2" style="font-size:11.0pt;">on September&nbsp;30, 2019, a distribution of US$0.58 per share to all shareholders of record as of September&nbsp;23, 2019 </font><font size="2" style="font-size:11.0pt;">(ex-dividend date September&nbsp;20, 2019)</font><font size="2" style="font-size:11.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Fund&#146;s distribution policy (the &#147;Distribution Policy&#148;) is to pay quarterly distributions at an annual rate, set once a year, that is a percentage of the average daily NAV for the previous three months as of the month-end prior to declaration. In February&nbsp;2019, the Board determined the rolling distribution rate to continue to be 10% for the 12-month period commencing with the distribution payable in March&nbsp;2019. The Distribution Policy is subject to regular review by the Board. The Distribution Policy seeks to provide investors with a stable quarterly distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Your Fund&#146;s policy is to provide investors with a stable distribution rate.&#160; Each quarterly distribution will be paid out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Under U.S. tax rules&nbsp;applicable to the Fund, the amount and character of distributable income for each fiscal year can be finally determined only as of the end of the Fund&#146;s fiscal year. However, under Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;) and related Rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table sets forth the estimated amounts of the sources of the distribution for purposes of Section&nbsp;19 of the 1940 Act and the Rules&nbsp;adopted thereunder. The table has been computed based on generally accepted accounting principles. The table includes estimated amounts and percentages for these distributions and for the cumulative distributions paid fiscal year to date (01/01/2019 &#150; 08/31/2019), from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated composition of the distributions may vary from quarter to quarter because the estimated composition may be impacted by future income, expenses and realized gains and losses on securities and currencies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;">
<tr height="79" style="height:59.2pt;">
<td width="20%" height="79" valign="bottom" style="border:solid windowtext 1.0pt;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of<br>   Current<br>   Quarterly<br>   Distribution per<br>   share ($)</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of<br>   Current<br>   Quarterly<br>   Distribution per<br>   share (%)</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of Fiscal<br>   Year to Date<br>   Cumulative<br>   Distributions per<br>   share ($)</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid windowtext 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of Fiscal<br>   Year to Date<br>   Cumulative<br>   Distributions per<br>   share (%)</font></p>    </td>   </tr>
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net Investment Income </font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.0174</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3%</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.0528</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3%</font></p>    </td>   </tr>
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net Realized Short-Term Capital Gains*</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>   </tr>
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net Realized Long-Term Capital Gains </font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.5626</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">97%</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$1.7072</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">97%</font></p>    </td>   </tr>
<tr height="18" style="height:13.15pt;">
<td width="20%" height="18" style="border:solid windowtext 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Return of Capital </font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;">
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid windowtext 1.0pt;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Total (per common share) </font></p>    </td>
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.5800</font></p>    </td>
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">100%</font></p>    </td>
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$1.7600</font></p>    </td>
<td width="20%" height="33" style="border:solid windowtext 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">100%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*includes currency gains</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Shareholders should not draw any conclusions about the Fund&#146;s investment performance from the amount of the Fund&#146;s current distributions or from the terms of the Distribution Policy.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions in 2019 will be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. The Fund will send you a Form&nbsp;1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table provides information regarding the Fund&#146;s total return performance based on net asset value (NAV) over various time periods compared to the Fund&#146;s annualized and cumulative distribution rates.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
<tr height="18" style="height:13.15pt;">
<td width="85%" height="18" style="border:solid black 1.0pt;height:13.15pt;padding:0in 5.75pt 0in 5.75pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Average Annual Total   Return on NAV for the 5 Year Period Ending 08/31/2019</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font></p>    </td>
<td width="14%" height="18" style="border:solid black 1.0pt;border-left:none;height:13.15pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">6.35%</font></p>    </td>   </tr>
<tr height="19" style="height:14.1pt;">
<td width="85%" height="19" style="border:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.75pt 0in 5.75pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Current Fiscal Period&#146;s   Annualized Distribution Rate on NAV</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="14%" height="19" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">10.44%</font></p>    </td>   </tr>
<tr height="18" style="height:13.35pt;">
<td width="100%" colspan="2" height="18" style="border:solid black 1.0pt;border-top:none;height:13.35pt;padding:0in 5.75pt 0in 5.75pt;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Fiscal Year to Date (01/01/2019   to 08/31/2019)</font></b></p>    </td>   </tr>
<tr height="18" style="height:13.15pt;">
<td width="85%" height="18" style="border:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 5.75pt 0in 5.75pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Cumulative Total Return   on NAV</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font></p>    </td>
<td width="14%" height="18" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">0.04%</font></p>    </td>   </tr>
<tr height="19" style="height:14.1pt;">
<td width="85%" height="19" style="border:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.75pt 0in 5.75pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Cumulative Distribution   Rate on NAV</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="14%" height="19" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">5.22%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font><font size="2" style="font-size:11.0pt;">Return data is net of all fund expenses and fees and assumes the reinvestment of all distributions reinvested at prices obtained under the Fund&#146;s dividend reinvestment plan.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">2 </font><font size="2" style="font-size:11.0pt;">Based on the Fund&#146;s NAV as of&#160; August&nbsp;31, 2019.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">While NAV performance may be indicative of the Fund&#146;s investment performance, it does not measure the value of a shareholder&#146;s investment in the Fund. The value of a shareholder&#146;s investment in the Fund is determined by the Fund&#146;s market price, which is based on the supply and demand for the Fund&#146;s shares in the open market.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">Pursuant to an exemptive order granted by the Securities and Exchange Commission on March&nbsp;30, 2010, the Fund may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Fund during the year may include net income, short-term capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Fund, to be taxed at a lower rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits, and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held at the date such amount is received. Shareholders should not draw any conclusions about the Fund&#146;s investment performance from the terms of the distribution policy. The final determination of the source of all distributions will be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund&#146;s investment experience during the fiscal year and may be subject to change based on tax regulations. The Fund will send you a Form&nbsp;1099-DIV for the calendar year that will tell you how to report distributions for federal income tax purposes.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The payment of distributions in accordance with the Distribution Policy may result in a decrease in the Fund&#146;s net assets. A decrease in the Fund&#146;s net assets may cause an increase in the Fund&#146;s annual operating expense ratio and a decrease in the Fund&#146;s market price per share to the extent the market price correlates closely to the Fund&#146;s net asset value per share. The Distribution Policy may also negatively affect the Fund&#146;s investment activities to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must liquidate securities that it would not have sold, for the purpose of paying the distribution. The Fund&#146;s Board of Directors has the right to amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may affect the Fund&#146;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations that may be applicable in their particular circumstances.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">Circular 230 disclosure:</font></u><font size="2" style="font-size:11.0pt;"> To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or (ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers:&#160; Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund&#146;s investment return and principal value will fluctuate so that an investor&#146;s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund&#146;s portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.</font></p>
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<TYPE>EX-99.13(C)(2)
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<DESCRIPTION>EX-99.13(C)(2)
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit 99.(c)(2)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">The India Fund,&nbsp;Inc.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">NYSE: IFN Cusip: 454089103</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">1900 Market Street, Suite&nbsp;200</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Philadelphia, PA 19103</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">DISTRIBUTION NOTICE</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">The India Fund,&nbsp;Inc. (NYSE: IFN)</font><font size="2" style="font-size:11.0pt;"> (the &#147;Fund&#148;), </font><font size="2" style="font-size:11.0pt;">a closed-end equity fund, today announced that it paid on January&nbsp;10, 2020, a distribution of US$0.57 per share to all shareholders of record as of December&nbsp;31, 2019 </font><font size="2" style="font-size:11.0pt;">(ex-dividend date December&nbsp;30, 2019)</font><font size="2" style="font-size:11.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Fund&#146;s distribution policy (the &#147;Distribution Policy&#148;) is to pay quarterly distributions at an annual rate, set once a year, that is a percentage of the average daily NAV for the previous three months as of the month-end prior to declaration. In February&nbsp;2019, the Board determined the rolling distribution rate to continue to be 10% for the 12-month period commencing with the distribution payable in March&nbsp;2019. The Distribution Policy is subject to regular review by the Board. The Distribution Policy seeks to provide investors with a stable quarterly distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Your Fund&#146;s policy is to provide investors with a stable distribution rate.&#160; Each quarterly distribution will be paid out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Under U.S. tax rules&nbsp;applicable to the Fund, the amount and character of distributable income for each fiscal year can be finally determined only as of the end of the Fund&#146;s fiscal year. However, under Section&nbsp;19 of the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;) and related Rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table sets forth the estimated amounts of the sources of the distribution for purposes of Section&nbsp;19 of the 1940 Act and the Rules&nbsp;adopted thereunder. The table has been computed based on generally accepted accounting principles. The table includes estimated amounts and percentages for these distributions and for the cumulative distributions paid fiscal year to date (01/01/2019 &#150; 12/31/2019), from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated composition of the distributions may vary from quarter to quarter because the estimated composition may be impacted by future income, expenses and realized gains and losses on securities and currencies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="99%" style="border:none;border-collapse:collapse;margin-left:2.0pt;">
<tr height="79" style="height:59.2pt;">
<td width="20%" height="79" valign="bottom" style="border:solid black 1.0pt;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid black 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of<br>   Current<br>   Quarterly<br>   Distribution per<br>   share ($)</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid black 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of<br>   Current<br>   Quarterly<br>   Distribution per<br>   share (%)</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid black 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of Fiscal <br>   Year to Date<br>   Cumulative<br>   Distributions per<br>   share ($)</font></p>    </td>
<td width="20%" height="79" valign="bottom" style="border:solid black 1.0pt;border-left:none;height:59.2pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Estimated<br>   Amounts of Fiscal<br>   Year to Date<br>   Cumulative<br>   Distributions per<br>   share (%)</font></p>    </td>   </tr>
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net Investment   Income </font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.0114</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2%</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.0466</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2%</font></p>    </td>   </tr>
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net Realized   Short-Term Capital Gains*</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>   </tr>
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Net Realized   Long-Term Capital Gains </font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.5586</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">98%</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$2.2834</font></p>    </td>
<td width="20%" height="33" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">98%</font></p>    </td>   </tr>
<tr height="18" style="height:13.15pt;">
<td width="20%" height="18" style="border:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Return of   Capital </font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>
<td width="20%" height="18" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">-</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="99%" style="border:none;border-collapse:collapse;margin-left:2.0pt;">
<tr height="33" style="height:24.7pt;">
<td width="20%" height="33" style="border:solid black 1.0pt;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt 5.75pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Total (per   common share) </font></p>    </td>
<td width="20%" height="33" style="border:solid black 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$0.5700</font></p>    </td>
<td width="20%" height="33" style="border:solid black 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">100%</font></p>    </td>
<td width="20%" height="33" style="border:solid black 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">$2.3300</font></p>    </td>
<td width="20%" height="33" style="border:solid black 1.0pt;border-left:none;height:24.7pt;padding:0in 0in 0in 0in;width:20.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">100%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">*includes currency gains</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Shareholders should not draw any conclusions about the Fund&#146;s investment performance from the amount of the Fund&#146;s current distributions or from the terms of the Distribution Policy.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions in 2019 will be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund&#146;s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. The Fund will send you a Form&nbsp;1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The following table provides information regarding the Fund&#146;s total return performance based on net asset value (NAV) over various time periods compared to the Fund&#146;s annualized and cumulative distribution rates.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
<tr height="18" style="height:13.15pt;">
<td width="85%" height="18" style="border:solid black 1.0pt;height:13.15pt;padding:0in 5.4pt 0in 5.4pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Average Annual Total   Return on NAV for the 5 Year Period Ending 11/30/2019</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font></p>    </td>
<td width="14%" height="18" style="border:solid black 1.0pt;border-left:none;height:13.15pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">6.03%</font></p>    </td>   </tr>
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<td width="85%" height="19" style="border:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.4pt 0in 5.4pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Current Fiscal Period&#146;s   Annualized Distribution Rate on NAV</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="14%" height="19" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">10.16%</font></p>    </td>   </tr>
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<td width="100%" colspan="2" height="18" style="border:solid black 1.0pt;border-top:none;height:13.35pt;padding:0in 5.4pt 0in 5.4pt;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Fiscal Year to Date (01/01/2019   to 11/30/2019)</font></b></p>    </td>   </tr>
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<td width="85%" height="18" style="border:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 5.4pt 0in 5.4pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Cumulative Total Return   on NAV</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font></p>    </td>
<td width="14%" height="18" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:13.15pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">4.88%</font></p>    </td>   </tr>
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<td width="85%" height="19" style="border:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.4pt 0in 5.4pt;width:85.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Cumulative Distribution   Rate on NAV</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">2</font></p>    </td>
<td width="14%" height="19" style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:14.1pt;padding:0in 5.4pt 0in 5.4pt;width:14.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">7.64%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font><font size="2" style="font-size:11.0pt;">Return data is net of all fund expenses and fees and assumes the reinvestment of all distributions reinvested at prices obtained under the Fund&#146;s dividend reinvestment plan.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;position:relative;top:-3.0pt;">2 </font><font size="2" style="font-size:11.0pt;">Based on the Fund&#146;s NAV as of&#160; November&nbsp;30, 2019.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">While NAV performance may be indicative of the Fund&#146;s investment performance, it does not measure the value of a shareholder&#146;s investment in the Fund. The value of a shareholder&#146;s investment in the Fund is determined by the Fund&#146;s market price, which is based on the supply and demand for the Fund&#146;s shares in the open market.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:11.0pt;">Pursuant to an exemptive order granted by the Securities and Exchange Commission on March&nbsp;30, 2010, the Fund may distribute any long-term capital gains more frequently than the limits provided in Section&nbsp;19(b)&nbsp;under the 1940 Act and Rule&nbsp;19b-1 thereunder. Therefore, distributions paid by the Fund during the year may include net income, short-term capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Fund, to be taxed at a lower rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits, and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held at the date such amount is received. Shareholders should not draw any conclusions about the Fund&#146;s investment performance from the terms of the distribution policy. The final determination of the source of all distributions will be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund&#146;s investment experience during the fiscal year and may be subject to change based on tax regulations. The Fund will send you a Form&nbsp;1099-DIV for the calendar year that will tell you how to report distributions for federal income tax purposes.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The payment of distributions in accordance with the Distribution Policy may result in a decrease in the Fund&#146;s net assets. A decrease in the Fund&#146;s net assets may cause an increase in the Fund&#146;s annual operating expense ratio and a decrease in the Fund&#146;s market price per share to the extent the market price correlates closely to the Fund&#146;s net asset value per share. The Distribution Policy may also negatively affect the Fund&#146;s investment activities to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must liquidate securities that it would not have sold, for the purpose of paying the distribution. The Fund&#146;s Board of Directors has the right to amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may affect the Fund&#146;s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations that may be applicable in their particular circumstances.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:11.0pt;">Circular 230 disclosure:</font></u><font size="2" style="font-size:11.0pt;"> To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the Internal Revenue Code or (ii)&nbsp;promoting, marketing or recommending to another party any transaction or matter addressed herein.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers:&#160; Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund&#146;s investment return and principal value will fluctuate so that an investor&#146;s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund&#146;s portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<TYPE>EX-99.13(D)
<SEQUENCE>7
<FILENAME>a20-3426_3ex99d13d.htm
<DESCRIPTION>EX-99.13(D)
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Exhibit 99.13(d)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">PROXY VOTING POLICY</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">I.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Generally</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Rules&nbsp;adopted by the Securities and Exchange Commission (&#147;SEC&#148;) under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;) require the Funds to disclose publicly its proxy voting policies and procedures, as well as its actual proxy votes.&#160; The SEC rules&nbsp;also permit the Funds to delegate its proxy voting responsibilities to the Funds&#146; Investment Manager,&nbsp;Investment Adviser, and Sub-advisers (collectively &#147;the Advisers&#148;).&#160; In connection with this ability to delegate proxy voting responsibilities, the SEC has adopted rules&nbsp;under the Investment Advisers Act of 1940, as amended, that require the Advisers to adopt and implement written proxy voting policies and procedures that are reasonably designed to ensure that it votes proxies on behalf of its clients, when given such authority, in the best interests of those clients.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Consistent with the SEC&#146;s requirements, the Funds have delegated responsibility for voting its proxy to the Funds&#146; Investment Manager,&nbsp;Investment Adviser and Sub-advisers.&#160; The Advisers have adopted proxy voting policies and procedures to ensure the proper, and timely, voting of the proxies on behalf of the Funds.&#160; Moreover, the Advisers will assist the Funds in the preparation of each Fund&#146;s complete proxy voting record on Form&nbsp;N-PX for the twelve-month period ended June&nbsp;30, by no later than August&nbsp;31 of each year.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">II.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:11.0pt;font-weight:bold;">Procedures</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Each Fund shall ensure that its investment manager, investment adviser and sub-advisers are compliant with applicable rules&nbsp;and regulations. These rules&nbsp;and regulations require, in part, that each Fund disclose how it votes each proxy. The rules&nbsp;and regulations also require that the Advisers disclose that they have (1)&nbsp;adopted and implemented proxy voting policies; and (2)&nbsp;adopted procedures regarding how each portfolio security is voted in relation to each Fund. The Adviser must disclose that the procedures are the following:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">are written;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">are reasonably designed to ensure that the adviser votes proxies in the best interest of the adviser&#146;s clients;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">describe the adviser&#146;s proxy voting procedures to the adviser&#146;s clients and provides copies of the adviser&#146;s proxy voting procedures on request;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">set forth the process by which the adviser evaluates the issues presented by a proxy and records the adviser&#146;s decision about how the proxy will be voted;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">establish procedures for the identification and handling of proxies that involve material conflicts of interest with the adviser&#146;s clients; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-align:justify;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:11.0pt;">disclose to the adviser&#146;s clients how the clients may obtain information on how the adviser voted the clients&#146; proxies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Funds also shall disclose to shareholders the policies and procedures that are used to determine how to vote proxies.&#160; The Funds include in the Funds&#146; statement of additional information appropriate summary disclosure regarding the proxy voting policies and procedures of the Funds&#146; adviser and sub-advisers, and any third party retained by the Funds&#146; investment adviser or sub-adviser to determine how to vote proxies.&#160; In addition, as required by the financial statements&#146; requirements of Form&nbsp;N-1A and N-2, the Funds&#146; financial statements must include a statement that a</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">description of the policies and procedures that the Funds use to vote proxies relating to portfolio securities is available, without charge:&#160; (i)&nbsp;upon request, by calling a specified toll-free (or collect) telephone number; or (ii)&nbsp;on the Funds&#146; website; and (iii)&nbsp;on the SEC website at www.sec.gov.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">The Funds also shall file with the SEC, on an annual basis, the complete proxy voting record of each Fund on Form&nbsp;N-PX for the twelve-month period ending June&nbsp;30</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:11.0pt;">, by no later than August&nbsp;31</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">st</font><font size="2" style="font-size:11.0pt;">&#160;of each year, which Report on Form&nbsp;N-PX shall be executed by the principal executive officer of the each Fund.&#160; Each Fund&#146;s proxy voting record on the Form&nbsp;N-PX Report shall be made available by each Fund, without charge, upon request, by calling specified toll-free (or collect) telephone number (but is not available on the Funds&#146; website).&#160; If a Fund receives a telephonic request for a proxy voting record, the Fund shall send the requested information disclosed in the Fund&#146;s most-recently filed Report on Form&nbsp;N-PX within three (3)&nbsp;business days of the receipt of the request for this information, by first-class mail or other means designed to ensure equally prompt delivery.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Sub-advisers to the Funds must have procedures and internal controls to ensure compliance with proxy voting regulations.&#160; Specifically, the sub-advisers must have procedures for the reporting of proxy voting, and communicating changes in proxy voting policies to the Funds.&#160; Prior to Board approval of new advisers, the Chief Compliance Officer (&#147;CCO&#148;) reviews the proxy voting policies and procedures of the sub-adviser.&#160; The CCO ensures that any inadequate procedures or controls of a sub-adviser are reported to the Board and must be corrected in a timely manner.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.13(e)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">U.S. Registered Advisers (the &#147;ASI Advisers&#148;)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">Proxy Voting Guidelines</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Effective as of January&nbsp;1, 2019</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rule&nbsp;206(4)-6 under the Investment Advisers Act of 1940, as amended (the &#147;Advisers Act&#148;) requires the ASI Advisers to vote proxies in a manner consistent with clients&#146; best interest and must not place its interests above those of its clients when doing so. It requires the ASI Advisers to: (i)&nbsp;adopt and implement written policies and procedures that are reasonably designed to ensure that the ASI Advisers vote proxies in the best interest of the clients, and (ii)&nbsp;to disclose to the clients how they may obtain information on how the ASI Advisers voted proxies. In addition, Rule&nbsp;204-2 requires the ASI Advisers to keep records of proxy voting and client requests for information.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As registered investment advisers, the ASI Advisers have an obligation to vote proxies with respect to securities held in its client portfolios in the best economic interests of the clients for which it has proxy voting authority.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The ASI Advisers invest for the clients&#146; portfolios in companies globally and actively target investment in those companies with sound corporate governance practices. The ASI Advisers are committed to exercising responsible ownership with a conviction that companies adopting best practices in corporate governance will be more successful in their core activities and deliver enhanced returns to shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">ASI and its affiliated U.S. registered advisers (the &#147;ASI Advisers&#148;) have adopted a proxy voting policy. The proxy voting policy is designed and implemented in a way that is reasonably expected to ensure that proxies are voted in the best interests of clients.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Voting decisions are made by the ASI Advisers&#146; investment managers, and are based on their knowledge of the company and discussions with management &#150; ASI Advisers&#146; investment managers consider explanations from companies about their compliance with relevant corporate governance codes and may refer to independent research from voting advisory services in reaching a voting decision. However, voting decisions for exchange traded funds are made strictly in accordance with ISS&#146;s proxy voting guidelines which are reviewed and approved on an annual basis.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Where contentious issues arise in relation to motions put before a shareholders&#146; meeting, ASI Advisers will usually contact the management of the company to exchange views and give management the opportunity to articulate its position. The long term nature of the relationships that we develop with investee company boards should enable us to deal with any concerns that we may have over strategy, the management of risk or governance practices directly with the chairman or senior independent director. In circumstances where this approach is unsuccessful, ASI Advisers are prepared to escalate their intervention by expressing their concerns through the company&#146;s advisers, through interaction with other shareholders or attending and speaking at General Meetings.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">As an independent asset manager, ASI is free of many of the conflicts of interest that can compromise the implementation of a rigorous and objective proxy voting policy. However, in managing third party money on behalf of clients, there are a limited number of situations where potential conflicts of interest could arise in the context of proxy voting. One case is where funds are invested in companies that are either clients or related parties of clients. Another case is where one fund managed by ASI invests in other funds managed by ASI.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">For cases involving potential conflicts of interest, ASI Advisers have implemented&#160; procedures to ensure the appropriate handling of proxy voting decisions. The guiding principle of ASI Advisers&#146; conflicts of interest policy is simple &#150; to exercise our right to vote in the best interests of the clients on whose behalf we are managing funds.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">We employ ISS as a service provider to deliver our voting decisions efficiently to companies. We require ISS to provide recommendations based on our own set of parameters to tailored ASI&#146;s assessment and approach, but remain conscious always that all voting decisions are our own on behalf of our clients. We consider ISS&#146;s recommendations and those based on our custom parameters as input to our voting decisions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">An ASI analyst will assess the resolutions at general meetings in our active investment portfolios. This analysis will be based on our knowledge of the company, but will also make use of the custom and standard recommendations provided by ISS as described above. The product of this analysis will be final voting decision instructed through ISS applied to all funds for which ASI have been appointed to vote. For funds managed by a sub-adviser, we may delegate to the sub-adviser the authority to vote proxies; however, the sub-adviser will be required to either follow our policies and procedures or to demonstrate that their policies and procedures are consistent with ours, or otherwise implemented in the best interest of clients.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">There may be certain circumstances where ASI may take a more limited role in voting proxies. We will not vote proxies for client accounts in which the client contract specifies that ASI will not vote. We may abstain from voting a client proxy if the voting is uneconomic or otherwise not in clients&#146; best interests. For companies held only in passively managed portfolios the ASI custom recommendations provided by ISS will be used to automatically apply our voting approach; we have scope to intervene to test that this delivers appropriate results, and will on occasions intrude to apply a vote more fully in clients&#146; best interests. If voting securities are part of a securities lending program, we may be unable to vote while the securities are on loan. However, we have the ability to recall shares on loan or to restrict lending when required, in order to ensure all shares have voted. In addition, certain jurisdictions may impose share-blocking restrictions at various times which may prevent ASI from exercising our voting authority.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">This policy has been developed by the ASI corporate governance working group. The implementation of this policy, along with the conflicts of interest database, will be reviewed periodically by the group. ASI&#146;s Corporate Governance Policy and Principles are published on our website</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">To the extent that an ASI Adviser may rely on sub-advisers, whether affiliated or unaffiliated, to manage any client portfolio on a discretionary basis, the ASI Adviser may delegate responsibility for voting proxies to the sub-adviser.&#160; However, such sub-advisers will be required either to follow these Policies and Procedures or to demonstrate that their proxy voting policies and procedures are consistent with these Policies and Procedures or otherwise implemented in the best interests of the ASI Advisers&#146; clients.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Upon request, the ASI Advisers will provide clients with a copy of these Policies and Procedures, as revised from time to time.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">As disclosed in Part&nbsp;2A of each ASI Adviser&#146;s Form&nbsp;ADV, a client may obtain information on how its proxies were voted by requesting such information from its ASI Adviser.&#160; Unless specifically requested by a client in writing, and other than as required for the Funds, the ASI Advisers do not generally disclose client-specific proxy votes to third parties.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Our proxy voting records are </font>available per request and on the SEC&#146;s website at SEC.gov.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">ERISA</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">The U.S. Department of Labor (&#147;DOL&#148;) has indicated that an investment adviser with a duty to vote proxies has an obligation to take reasonable steps under the circumstances to ensure that it receives the proxies.&#160; Failure to take any action to reconcile proxies would cause ASI to fail to satisfy ERISA&#146;s fiduciary responsibility provisions. Appropriate steps include informing the Plan sponsor and its trustees, bank custodian or broker/dealer custodian of the requirement that all proxies be forwarded to the adviser and making periodic reviews during the proxy season, including follow-up letters and phone calls if necessary.&#160; When voting proxies, an investment manager must consider proxies as a Plan asset and vote only in the best economic interests of the Plan participants, vote consistently among clients, and avoid specific client voting instructions about voting proxies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">DOL has provided investment managers with the following guidance about their ERISA responsibilities, including proxy voting, compliance with written statements of investment policy, and active monitoring of corporate management by Plan fiduciaries:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Where the authority to manage Plan assets has been delegated to an investment manager, only the investment manager has authority to vote proxies, except when the named fiduciary has reserved to itself or to another named fiduciary (as authorized by the plan document) the right to direct a Plan trustee regarding the voting of proxies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">Investment managers, as Plan fiduciaries, have a responsibility to vote proxies on foreign issues that may affect the value of the shares in the Plan&#146;s portfolio and will vote such proxies unless the cost of doing so cannot be justified.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iii.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">An investment manager is required to comply with statements of investment policy, unless compliance with the guidelines in a given instance would be imprudent and therefore failure to follow the guidelines would not violate ERISA.&#160; ERISA does not shield the investment manager from liability for imprudent actions taken in compliance with a statement of investment policy.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">On occasions when it is deemed to be a fiduciary for an ERISA client&#146;s assets, ASI will vote the Plan assets in accordance with ASI&#146;s Proxy Voting Policy.&#160; ASI will provide each ERISA client (upon request) with proxy voting records to demonstrate how proxies for securities held in the portfolio were voted.</font></p>
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