WITH RESPECT TO THE SECOND ISSUE IN THE EXECUTIVE SUMMARY IN EX...

14. With respect to the second issue in the executive summary in Exhibit 1 relating to shift in

strategy, how would adopting The Code address this issue?

A. The Code would not address this issue since the manager already adhered to the

recommendations of The Code through disclosing to investors the change in investment

strategy.

B. The Code would have addressed this issue through prohibiting a change in the strategy of the

fund.

C. The Code would have addressed this issue through requiring that the manager provide

information regarding strategy changes well in advance of the changes taking place and

giving investors an opportunity to take any actions that they deem necessary in response to

the proposed strategy shift.