<DOCUMENT>
<TYPE>EX-99.77D POLICIES
<SEQUENCE>4
<FILENAME>invpolicy.txt
<DESCRIPTION>INVESTMENT POLICY
<TEXT>
Changes in Investment Policy:

Effective December 21, 2012, the Fund may invest up to 15% of its total assets
in any combination of interest-only ("IOs") or inverse floating rate obligations
("inverse floaters") and residual interests of real estate mortgage investment
conduits ("REMICS").

IOs are a class of debt security, typically representing an interest in a pool
of mortgage-related or other assetbacked securities, which receives all of the
interest from the asset pool, while another class receives all of the principal
(a principal-only, or "PO" class). The yield to maturity on an IO class is
extremely sensitive to the rate of principal payments (including prepayments)
on the related underlying mortgage or other assets, and a rapid rate of
principal payments may have a material adverse effect on the Fund's yield to
maturity from investing in these securities. If the underlying mortgage or other
assets experience greater than anticipated prepayments of principal, the Fund
may fail to recoup some or all of its initial investment in IOs even if the
security is in one of the highest rating categories.

An inverse floater is a type of debt instrument that bears a floating or
variable interest rate that moves in the opposite direction to interest rates
generally or the interest rate on another security or index. Changes in interest
rates generally, or the interest rate of the other security or index, inversely
affect the interest rate paid on the inverse floater, with the result that the
inverse floater's price will be considerably more volatile than that of a
fixedrate instrument of similar credit quality. The market prices of inverse
floaters may be highly sensitive to changes in interest rates and prepayment
rates on the underlying securities, and may decrease significantly when interest
rates increase or prepayment rates change.

REMICs are entities that qualify and elect treatment as such under provisions
of the Internal Revenue Code and issue multiple-class of real estate
mortgage-related securities. REMICs may take several forms, such as trusts,
partnerships, corporations, associations or segregated pools of assets. To
qualify as a REMIC, substantially all of the assets of the entity must be
invested in assets directly or indirectly secured principally by an interest in
real property and certain other permitted investments. Once REMIC status is
elected and obtained, the entity is generally not subject to federal income
taxation. Instead, income is passed through the entity and is taxed to the
person or persons who hold interests in the REMIC. A REMIC interest must
consist of one or more classes of "regular interests," some which may offer
adjustable rates, and a single class of "residual interests." The residual
interest in a REMIC generally represents the interest in any excess cash flow
remaining after making required payments of principal or interest to the regular
interest holders as well as administrative and other expenses. As in the case
of IOs as described above, the yield to maturity on REMIC residuals is extremely
sensitive to pre-payments on the related underlying mortgage assets. In
addition, if one or more classes of regular interests in a REMIC pay interest
at adjustable rates, the yield to maturity on the related REMIC residual will
also be extremely sensitive to changes in the level of the index or other
reference instrument upon which interest rate adjustments are based. Like IOs,
in certain circumstances, the Fund may fail to recoup some or all of its
initial investment in a REMIC residual.

Each of IOs, inverse floaters and residual interests in REMICS may be illiquid
investments and subject the Fund to related risks.
</TEXT>
</DOCUMENT>
