yH2m
4zh 4h'O6d֛3dnAm 4Ҡ@aT:&)5EEpH0簑v_mp_ v
D܅
v i AL Ъ]-9M>Rpdp&m ܧAm'IگtqgzM۫M$H>A,XA4t_4- zhhޑ|}} aafϱ`m`cW]~jfVAtt+T% ݑ $˘MGKi:=D}_2' Iխ]+zmiu}/]C_k
o|&-&>&a6oW9^_u^Mz]%
Z[J{~W_[?"Ц[|W5q]w_w_~O_N2?_!^u iz;p}XSK lck 199U_Ś9b;i~wչ:Ɍi7 D0A[ k608l?"o]U_۾
nXa{1-Ä/^z/Co =*]K'a\X=m&UI} _zl?[> =7ua_}//KցKm^ ,6}?}u(D[y#$kGoz_K_XlK
m+~ׯ]ߟcֽm_ݾ?k,[>Ht~~^dm c
ݵ,n kzn}m%z[]t~~0 $_o'X[JֿaVwza0o[^5uVޗku^մ" Ҿe/ZlUB@ߵb\U{}_} ڽui}Z
/=4qa&)AjL>4 &i6)4cNTҦ mvkUml An;J71LtZc+~}Zh PL bL&&ma6 L2 8:i!OC
4h84 !h0lN>4L>IITzq}p0 4)vgHN `00aI0
kLa0PL-YNJ°aBM:a0I`ANtA61
DUn0A&a;"B0
(XelF#CfȳrgH^" 05
FvRc&4
;wja&i+8 ae$DEFZK}/|gevP
%ht+ 6j%"Dnֳ'v32Ta0LRv&eJ\[ӰPv
ST` ) qVv!տd3SA2
i#V:; )Fv&[GMmPzh ܿ'88;GorYr4vd TmwDʋ_=_w u]uQB# D>>M zI88&0~'jZ^W#_>Bmbwi7 |4Ym&MŠIe'AN6fAr1Šfl3E^zO0W~^i7
2hN3mr7\'>2[Im_֯Ow]kt]O MCº^nIioOpcc~_bODto_Mjo oBW41]^_]OdpzkO}WX1a߰b8//&-X}'|A~_v68?| __u?&B&"P&?{X>߰y^Lr$A{7o z ߄]%ߺVo־~%] a m~
I_^^ ^axDǧ}izi__J0i?m+7Auh7M?aI~CWNMW^m-%
aMWJ]p__HK]Y#okרl7
1{kץFޕ_ pzo쑺~?k_m߶ߴK鿯mBsug\?yKKw]zKoKi=_UK_[u_k`cc߯qMDžM0K|?VMku
-Uzj 4N%M6j $av*O¦VUBJdmlO60I$0KzJJJ'{j.i k 'Aa : L Aa9A6 D0m1AI
}4#N 1q k[cJWLS!0C;N*a2?e16
Mv
+MUT C
):aBT"8$@( Ц)j(a`a
L&PA$&PAPA ,4i $c
C ElGDDN""""Pb,0DEeP!FKer^e'r\`0L)7 +ta&VkM0L1
*)¦!4i0 QDDDDDDDDDDFDDG `DE;VB.O0e. & eXA #U-L/a}Ēb8"#R/iaA 4oL&L $
3tE DDG-QU&gd;'d$d0bkj٘˽0 I7WQ=I{}q=I7N>Ax&lF}jwM;ika.*}tml'I Vo -[=ZM%i_ Wa1AҰa7}Ok_+znV-'J0m{i}p Ɏ
okVnJ봾קip z8'ֿ ~؈_Wۭm;k?},gU vҿaeazw.u~0z_l?opX "L`Ը*
G l=0D\a뺈Kﭿ\7oh%vըA=7ݫuXoo7_[_w$Z0oC^C֩/Tg+0)تMkA H}_M=/\ߦkOw^zm_կ]V_n?_im^k~|Uэ_oj[?4}_]{i}66Mka]R߯LV{vc>)o_ui]6`mm
'WՄW 4A&
4vՍ4ӆTlv ;tˣҵ;i6I+[V＿^tb:w[#j;
N0 L&0O ( qA , 6`"
A80Ll04 ' a86VmmGm&5M?jҍoa- )S^\f6)-GAlr Y.Z`RǢc`NT$ӤҰaBL&iL jM;@L&NTab
0Lt a""""""""""""""""""""""""""""!'a!PR)paMiP.ԸL% . p ,0%Tӷ
SIi0DDDG DDDDDDG`DDDDDF,AB23j ̉}
A6l(m\BGy FC"j|*jaB͂Na3< \*3$"q"; h` Ph
LA*gv0Aa2aoIj*hѡC6h`ɡ۷ ;,h$N\3Q3RKP)d1IYj9faF"ȪթYZ_Ax^ 4 O :0- a
, iTBA3c< d?dPe.D"l S~'5M&gzM2i&CpC)a ;Eăq<4mSEM i9B7W tzJҵ[]=:MºmšJa:0[sGNꖓw#N &OX8b?I]> ~iWuu_ }_ }Xa[^z \7u5
wZd4 赵kK
u߆֖ڶ֟էwHklz_nK1{6[Ou^[$o]/jKn__ۯo/-KnKpv}6Skڭ~:_nzmm}]ֽ\0vcڍ/atkᄛV{-Um/'~_
v~Kb1þ MCJՍ)Xa݊ W-+] C$Z /a]~K $ 8a5AaH<aA 6+BaVh6i;H8ti5i1S-2pح;n®_ue⯲1AV &![ Mj U\
0i
A AᨪA
`v$ aӠaaa & ƚm&{P4Mc0X0@DDDDYI`=ag
\&
\)w|ɏJa'p BAA<4Mm&0 mM
SAh D\DDDDDDDDDDDDDDDDDDDDDJH0DYAg#?@My 3eϊ]
lɏ~ #_& ̗a6MKZ+
* &?96ݰ)C4eU8ح-$`0 ࠩ DT.I ҏ1Jsru
\-t\AS0Th42q%!=l.*`vkLGEUnRn`Ü{];EDcB]$'\ +FwmcAO?uӵֻ~R?幑f$# RTdd5yVe;α կk
H`!0' CDY`By@xD@R0Iwt-& ui67H iM
|xѹM.Zha*/!Eh`8*Nqzvտq:h/I:YN0ZI]~i]:
o{OKq>Ri6olg 7'iA>WZ_֖ k4 +JZMX>[K֛Wa}m/&n҆WM[W~>:~[ W ~ۨתߧ4BխVקu}n!KTX5 WRn VǍ4]+Ɨᮻ~X V ?]-?D
|sA B W8z_Eņa~aX_AX /[_
u_a"q HmXo a_}AֿwaNXovo/~ $_mo${xo$mHհEC!PJ /o7
Km[_comWo9{?>#ݼHTC_Hd>]/]9W7R i_k}?]ma~zmw_om[Mn}wK?yڪݰ0a?~}]0V{kum۫Kb-J{V+^;AQ[ukUV]^a'1 00uMk4WZIImCbg
LiVa0vjդiZLlUA_;J)zh=)[U
ُ- %^O`݊ V
m4 M0 L2 SQL AQA! AmA
% $QW Q0j\F=64ik*;L1L0pb!Xak0|
&>M(L(F-L ibSi@
¨@dGA0L= 0h L&(AaPAbph a(0! \G 0"1ˀ & mIF[0AL/a0C#J &a&iMȎ 8aaA&"80B" `8@2U7 a0"""""""#KZ
%ި:nZփJ
IV iMWf Ri*㱐@cHN2!4
ȈL
ISVِve {
;T4kv(T@S
R
0R
bL'Oa$pz@D4
4@&Kh zR!2G|"V? =X=wQN7*}[O" 0uo &T}m}} *~aֺ_w~{K
@ #Z^uK< y`#dO #0p@Α9: ݼ4B!!rp9 8fԊQ(2"gR$8&(M ?
`L &;h0LKav&viP^ARx
aƂ~D @` !8RR pΣ:"yB&(ufEZ O64?LѹBTl>_0/9V/ `qTB(&=S4hMB C!>:OlO[~'$HO^Mme.{HM~
S@aBIEG"*/7Qx¨D/xn
Qv턍u< l_ 'a=^
ZN[ctbSOtn&wc&MAIOA*JޞJjOM{qlN9{< 'ք '[UzݥGWOI/zt_MT+KZn'ׄ]ֿ'^}zW xu}kK߿T~
M/Ǻp'}["듺XPƄkEů{_o¦,`aam{+A}U?XE
EǮ.=~l:0Ү 0o /0' mZh//%/Ka/a__]^5_^47 7M/[Hd4 }K[K[J~Zևj߾i~uMׯka'}ۥ_oKno߽6
_ U{#K[ m6c [a?o%k
+mkv߷l8Ӱ|Gjj[M^&.8cX@>Ұ pҲa<"#.@ UjշuA018A0Ȑ aa 6Du@ H 0a %! =MAGIؤiIQ 1qċ׆Fi\G 0Ӷ_aB
0J&; /aBTM𩅱 >!1L)IH0a0Ȯ0L a S"<q 6DuMXA#
@a pa8ip""""" a00B$$e|L(Rq 0W@ a0 -0¦&\m
L Ȯ 6ӊM8ϣ5b"""""! 0)^r
tDDDDDDDz咀h 2 ˄#. pr>G˲s.f f̺5fEy
kX ( s\ n99 ATr].S(,DDDDDDDDD)L1͢8RmFs/.PG72TFfE"(H#n$fiD{0̸G30DDDDDDDDDDb?Y?吲2J# qm&L
H:
!l^;4Ƒ
gfy!V* AB.F`LL)(a0*vt"[It
4I
(A2X;2t}u^&zSlaԎyiabvt_-[~=xD
kkvն_iA/% /[wK}Uj~^!C( gAN4?fhiqQ jt 4BLm)Wg/ ts(#DFZփ0A &P0ABkL!a hHZPhYB 0D fD"D,# mY 0 2>9L(#Y c.m<%zR[uR˾I:O7N⵿餾}Ii=~t<&hw}Bnd [c}W_UIVߪu_ZWW_Wz^TyaBKm _ֽ}˂C^wXh oca~!~W =;$1^%E_ZL\C9ni>) : 4jwA6a0ST EpAq@)qMa """""""""""#B"""#0B&A`@`hCa`&4< ergL_;+
Lth0@aG-DDDDDDDDDDE#""""""""""""""""":Yjiv+Z0+ILP0Q M!#Tq4V8&i Ti0
W[ɹ|%T-0\L L{~-mp
w&m5B#C_iynbvYT@9)Ga;EIm} OZ0K}$]Z2ȬL3UHat4Cd!2v`/Kl'2Z$F f "ER=H+ rO(3j ~1PO<Ι Ѧ@6y/
6P &aSM
}
i;`/ N E64h0UP&Na0P
A00A h40a01h~ p CTj':Z_O&݉O'>:I+I& oL784:H&nUEh¦4_0ilxST/E㑺44_QyEEE<*ႜ4^ |?Lzl }麼 &}1N & `M6 &iiffޕq8' $ӤO&X+m & Bg`L=h?kz}]S%V'=7[ {{fm+j0j ^a7MpIAҴKKIdqu=A44z}OX륯zZ_vix)7kW.WյKmW_on?v?KQ_Hu>N_ޕt߿a1At _ik xbbևW_o\j?MTM$}RZbO On^Iuշ/t:Wmር
_ aN>Eiê V *|wɧO 0
A~_~ uE_a
%7 akW^
*~w
__Ko5/FrG
whCۿasZ
m~T~vd?#G֝d5o5Pإo
=n]O'ӵ}}R[Vm}Z^ݯWuݬV۫9
}׆:ץOi{i~VW[6ko__zzY}[db ]C ُa-ͨ0iP[tMװµKmoհa?m&n܇_O4vI4؍6&wi6>±I}mka6ǘߏKnbvwXXaaKn?Aՠ0aA6(&l QMB aa6Dt460 m& pi;JLL=7MFumi]Scb
c?.pUu80 $L,0NaAZvaG ;zM6OeM
߿Ixhl4ҪaA` p4_0橃& l²7HEF6QxF(T^0UE
v/j-݄_zk^Na|N AwKe'OOѤ_xӃBiZNt`˥'B: I'[_?}u~"ZX&zWK):V &i_KppazVfF$Dzߪ[[}_zuzޒ}[_hWVݧպ 7?kױlR c~_Z_tۯko.8Z./~y5J )=~c1mCo,G ,oyia9b bm֡֗WBc"}?a7Wo ?b]oS -!:?!Ho = ae}6M'|i:M{jIҴhOniA4-дm'T0h 8M}l͠i8i4^QyEE(2f>ӷIZ
a`l/nS3 ufeӃ#WO܋t\"we!:Wz eR=t kvzk}vЫu=kwtZVӯ 6иgz" _Jw628=?}}/4_uֶkkik4^DZ)߿>B 㶶mkG$.Kvnom.ҾMSoe2wK_1눮#}ЌW v'CBna|v 1?". R ./ _C6?K ߯,G]nX0 .;.>8}Cwެ7_ /
I_ok쑆4 xn+|%_{(iW 5^oT?5/a&%}[R[_Ѭe:nA> UVQC_(_
ետSkWKkI_Z{w] K 7ۮVok{ki/_tcC C 8_ͥa_ /M놽tL0KK}m+^KݮUޭoD b%b=w0#[1Սm]v]0`u]ºwu0mikJ~[KI$ 4P $a5iiTIþjqi6|58bI5cl vwV5&GHbմ ۨ{0M0@a6M a
L&6(& 0A0iaIM0Ilah1QQIt0w
(OqvM Vlrla0S
a Fωa FS^hSZF\e[]
M0t
m )babdGaȃLB Bia!Aa
B! SA90ݑ 8t0&PODR)A,aA? a a . -aBDʄPa4HaUaAG i6]' DDDDG:S" `Dj~+Kz[K(`aNjLBH!A(a0aM F (QЌG&♐VRFVGtF@L(A0N-2h)$p)8IP@pdpqݚ/ ģ"؋Ϡ?_U_bu2|" 8^#UdUga N2 sY=HHLg ?":g%/YeE !Fx*hŠpytƋ &
APhhR/OhzM6q?vCI{{_:\}$=_uk^O붕_߰_uf>&vc l0K[{tK6ݥ q 1MvRLA{iv^>Ah> $N
Z "8Lm1;ᤃ0M 0t4A6I a ؙ1H0SA6PAU a8&N)4 1A: @j&l . ek `0TK +X0Aa ?f
\)oal(^PMDDDDDDDqDDDDDDDDDDDDDG_ ,j?ikU G
endstream
endobj
26 0 obj
<<
/Length 4819
>>
stream
q
q
612.00 0.00 0.00 790.80 0.00 0.00 cm
0.00 0.00 0.00 rg
/Im27 Do Q
Q q
BT
3 Tr
/F28 12.01 Tf
73.44 716.64 TD
(Fund may invest in economic equivalents, and the limit, if any, on the amount it may invest in) Tj
/F28 12.08 Tf
0.24 -15.84 TD
(derivatives. Moreover, disclose, in plain English, each type of derivative instrument in which the) Tj
/F28 12.16 Tf
0.00 -15.84 TD
(Fund wil invest along with the specific purposes for investing in any derivatives. In particular,) Tj
/F28 12.08 Tf
0.00 -16.08 TD
(if applicable, disclose that the Fund wil use derivatives for speculative purposes and explain all) Tj
/F28 11.91 Tf
0.24 -15.84 TD
(attendant risks of such transactions.) Tj
/F28 11.88 Tf
35.76 -25.92 TD
(Principal Risks) Tj
/F29 5.00 Tf
-34.80 -25.92 TD
(13. The "Principal Strategies" section of ) Tj
/F28 12.17 Tf
213.84 0.00 TD
(the Prospectus discloses that the Fund wil invest in) Tj
/F28 12.08 Tf
-215.04 -15.84 TD
("MLPs. . . primarily engaged in the transportation, storage, processing, refining, marketing,) Tj
/F29 5.00 Tf
0.24 -15.84 TD
(exploration, production, and mining of ) Tj
/F28 12.04 Tf
188.40 -.24 TD
(minerals and natural resources \(and that\) . . . \(u\)nder) Tj
/F28 12.00 Tf
-188.64 -15.60 TD
(normal circumstances, the Fund concentrates its investments in MLPs that operate businesses) Tj
/F29 5.00 Tf
0.24 -15.84 TD
(engaged in the energy sector." Please confirm to the staff ) Tj
280.80 -.24 TD
(that all principal risks of ) Tj
/F28 11.97 Tf
120.24 0.00 TD
(investing in) Tj
/F28 12.05 Tf
-401.28 -15.60 TD
(MLPs as described in the "Principal Strategies" section are summarized in this "Principal Risks") Tj
/F28 12.07 Tf
0.24 -15.84 TD
(section or revise this section accordingly. For example, has the demand for energy MLP) Tj
/F29 5.00 Tf
-.24 -15.84 TD
(interests exceeded the supply? Are energy MLPs subject to potential ) Tj
/F28 12.00 Tf
335.28 -.24 TD
(liabilities for their) Tj
/F28 11.95 Tf
-335.04 -15.60 TD
(activities, such as environmental damage?) Tj
/F28 11.93 Tf
35.76 -25.68 TD
(Deferred Tax Risk) Tj
/F30 11.36 Tf
-34.80 -25.68 TD
(14. The disclosure under this caption discusses both the tax risks involved with investing in) Tj
/F28 12.09 Tf
-1.20 -13.68 TD
(MLPs, and the tax risks of investing in the Fund. Please distinguish the two topics and place) Tj
/F28 12.08 Tf
0.48 -13.92 TD
(each under a separate heading. Also, please revise this section by explaining in a brief manner) Tj
-.24 -13.68 TD
(the difference between a deferred tax liability and a deferred tax asset of the Fund. Also please) Tj
/F28 11.99 Tf
0.00 -13.68 TD
(include in the summary a separate risk disclosure paragraph, preceded by an appropriate heading,) Tj
0.24 -13.92 TD
(summarizing the risks that deferred tax assets are subject to reductions or write downs, that) Tj
/F28 12.00 Tf
-.24 -13.68 TD
(deferred tax liabilities may increase, and that these actions, based upon assumptions and) Tj
/F28 11.96 Tf
0.24 -13.68 TD
(estimates, may result in a significant decline in net asset value.) Tj
/F29 8.64 Tf
0.72 -27.60 TD
(15. The prospectus includes small and mid-cap company risk. Please disclose the) Tj
/F28 12.18 Tf
-.72 -13.92 TD
(capitalization sizes of the MLPs in which the Fund wil invest. The prospectus discloses in) Tj
/F30 11.04 Tf
0.00 -13.68 TD
(another location that the adviser typically seeks MLPs with larger asset bases. Wil the Fund's) Tj
/F29 5.00 Tf
-.24 -13.68 TD
(investments in smaller capitalized MLPs be a principal ) Tj
/F28 12.36 Tf
267.12 -.48 TD
(strategy? The prospectus states that the) Tj
/F28 12.34 Tf
-266.88 -13.44 TD
(adviser wil invest in smaller MLPs ifthere is an opportnity to achieve "the overall investment) Tj
/F28 12.29 Tf
0.00 -13.92 TD
(objective ofthe Fund." Does the "overall" investment objective differ from the investment) Tj
/F30 10.97 Tf
0.00 -13.68 TD
(objective ofthe Fund as disclosed in the prospectus? Please clarify and reconcile the disclosure.) Tj
/F28 12.00 Tf
35.76 -27.60 TD
(Additional Information About the Fund Principal Strategies and Related Risks) Tj
/F30 11.25 Tf
-34.80 -27.60 TD
(16. Please confirm to the staff in your response letter that all strategies and risks disclosed in) Tj
/F28 12.08 Tf
-1.20 -13.92 TD
(this section are summarized in the Item 4 disclosure or revise the prospectus accordingly. In this) Tj
/F28 12.00 Tf
0.00 -13.92 TD
(regard, the prospectus discloses that the Fund may invest up to 20 percent of its assets in foreign) Tj
/F29 7.65 Tf
0.48 -13.92 TD
(securities. Is investing in foreign securities considered to be a principal strategy, and does it) Tj
/F28 11.93 Tf
0.00 -13.92 TD
(constitute a principal risk for the Fund?) Tj
ET
Q
endstream
endobj
xref
1 2
0000186785 00000 n
0000186844 00000 n
24 7
0000186935 00000 n
0000187099 00000 n
0000260282 00000 n
0000187627 00000 n
0000187246 00000 n
0000187375 00000 n
0000187500 00000 n
trailer
<<
/Size 31
/Prev 186458
/Root 1 0 R
>>
startxref
265167
%%EOF
% Page Description << /EndOffset 0000337076>>
1 0 obj
<<
/Type /Catalog
/Pages 2 0 R
>>
endobj
2 0 obj
<<
/Type /Pages
/Kids [3 0 R 10 0 R 17 0 R 24 0 R 31 0 R ]
/Count 5
>>
endobj
31 0 obj
<<
/Type /Page
/Parent 2 0 R
/Resources 32 0 R
/Contents 33 0 R
/Rotate 0
/eCpyResolution 300
/MediaBox [0 0 612.00 790.80 ]
>>
endobj
32 0 obj
<<
/XObject << /Im34 34 0 R>>
/Font << /F35 35 0 R /F36 36 0 R /F37 37 0 R>>
/ProcSet [/PDF /Text /ImageB /ImageC ]
>>
endobj
35 0 obj
<<
/Type /Font
/Subtype /Type1
/Name /F35
/BaseFont /Courier
/Encoding /WinAnsiEncoding
>>
endobj
36 0 obj
<<
/Type /Font
/Subtype /Type1
/Name /F36
/BaseFont /Times-Roman
/Encoding /WinAnsiEncoding
>>
endobj
37 0 obj
<<
/Type /Font
/Subtype /Type1
/Name /F37
/BaseFont /Helvetica
/Encoding /WinAnsiEncoding
>>
endobj
34 0 obj
<<
/Type /XObject
/Subtype /Image
/Name /Im34
/Width 2550
/Height 3295
/eCpyDPIX 300
/eCpyDPIY 300
/ImageMask true
/Filter /CCITTFaxDecode
/BitsPerComponent 1
/DecodeParms << /K -1 /Columns 2550 /Rows 3295>>
/eCpyColor [0 0 0 ]
/Decode [0 1 ]
/Length 65636
>>
stream
n [*ץ !^vږCLф|Kq
va,$E38&(MPJ8Zd-
ov N`~? sm9 {JbeG-7Ջz_[td1H e!e2YfS)#_zA& " q
xy 8@Џ|'Q'Hͳ^9yH&]!s$!"Fu5: k#DcU6Ƌl"w.8
M} PAiaB !TBaBa0 ]8(D<N AD9 @*:6̏J( ClgH2Fyȧ20
:6
4haSEaS .*nMj;xD0PTDÂaSED0T'N.>AЯ
>