<DOCUMENT>
<TYPE>EX-99.77D POLICIES
<SEQUENCE>2
<FILENAME>rfi77d.txt
<DESCRIPTION>POLICY
<TEXT>
ITEM 77D: The board of directors approved amendments to certain
investment policies to provide that, under normal market conditions,
the fund may invest up to 20% of its total assets in preferred and
other fixed income securities.  The board also approved amendments
to eliminate the non-fundamental investment restriction regarding
the purchase of securities on margin. In addition, the board of
directors approved amendments to permit the fund to write call
options on up to 25% of its managed assets.

</TEXT>
</DOCUMENT>
