NOTES TO FINANCIAL STATEMENTS
2. Currency Translation
Assets and liabilities denominated in foreign currencies and commitments under forward exchange currency
contracts are translated into U.S. dollars at the mean of the quoted bid and asked price of such currencies against
the U.S. dollar. Purchases and sales of portfolio securities are translated into U.S. dollars at the rates of exchange
prevailing when such securities were acquired or sold. Income and expenses are translated into U.S. dollars at
rates of exchange prevailing when accrued.
Net realized foreign currency gains and losses represent foreign exchange gains and losses from sales and
maturities of debt securities, and foreign exchange currency contracts and currency gains and losses realized
between the trade and settlement dates on security transactions, and the difference between the amounts of
foreign currency denominated dividends and interest recorded on the Fund's books and the U.S. dollar equivalent
amounts actually received or paid. The Fund does not isolate the effect of fluctuations in foreign currency
exchange rates when determining the gain or loss upon the sale of equity securities. Net currency gains and losses
from valuing foreign currency denominated assets and liabilities at year end exchange rates are reflected as a
component of net unrealized appreciation of investments and foreign currency de nominated assets and liabilities.
It is the Fund's policy to meet the requirements of the Internal Revenue Code applicable to regulated investment
companies and to distribute all of its investment company taxable income and net realized gains, if any, to
shareholders. Therefore, no provisions for federal income or excise taxes are required.
4. Investment Income and Investment Transactions
Dividend income is recorded on the ex-dividend date. Interest income is accrued daily. Investment transactions
are accounted for on the trade date securities are purchased or sold. The Fund accretes discounts and amortizes