Note 1. Accounting Policies
The following is a summary of significant accounting policies followed by the Company and the Fund in the
preparation of its financial statements.
Security Valuation: Securities for which the primary market is on an exchange are valued at the last sale price on
such exchange on the day of valuation or, if there were no sales on such day, at the mean between the last bid
price in the absence of an asked price. Securities that are actively traded in the over-the-counter market,
including listed securities for which the primary market is believed to be over-the-counter, are valued by an
independent pricing agent or a principal market maker. U.S. Government securities for which market quotations
are available are valued at a price provided by an independent broker/dealer or pricing service.
Options on securities that are listed on an exchange are valued at the last sales price at the close of trading on
such exchange or, if there were no sales on the applicable option exchange, on such day at the average of the
quoted bid and asked prices as of the close of such exchange. Futures contracts and options thereon traded on a
commodities exchange or board of trade are valued at the last sale price at the close of trading on such exchange
or board of trade or, if there was no sale on the applicable commodities exchange or board of trade on such day,
at the average of the quoted bid and asked prices as of the close of such exchange or board of trade. Securities
for which reliable market quotations are not available or for which the pricing agent or principal market maker
does not provide a valuation or methodology that, in the judgement of the subadviser, does not represent fair
value, are valued at fair value as determined by procedures established by the Company's Trustees.
Short-term securities which mature in more than 60 days are valued at current market quotations. Short-term
securities which mature in 60 days or less are valued at amortized cost.
In connection with