<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>6
<FILENAME>hicbnwacct061.txt
<TEXT>
Note 4
New accounting pronouncement

As required, the fund has adopted the provisions of the
AICPA Audit and Accounting Guide, Audits of Investment
Companies.  This Guide requires that the fund amortize
premium and accrete discount on all fixed-income
securities, and classify as interest income gains and
losses realized on paydowns on mortgage-backed securities.
Prior to September 2001, the fund did not amortize premiums
for certain fixed income securities.  Adopting these
accounting principles did not affect the funds net asset
value, but did change the classification of certain amounts
between interest income and realized and unrealized
gain/loss in the Statement of operations.  The adoption of
this principle was not material to the financial
statements.


</TEXT>
</DOCUMENT>
