Logo ST PAUL
TRAVELERS
INVESTMENT COMPANY BLANKET BOND
St. Paul Fire and Marine Insurance Company
St. Paul, Minnesota 55102-1396
(A Stock Insurance Company, herein called Underwriter)
DECLARATIONS
|
|
BOND NO. 490PB1610
|
Item 1.
|
Name of Insured (herein called Insured):
|
|
|
|
CREDIT SUISSE ASSET MANAGEMENT, LLC
Principal Address:
|
|
|
|
466 Lexington Avenue
New York, NY 10017
|
|
|
Item 2.
|
Bond Period from 12:01
a.m. on 07/01/07 to 12:01 a.m. on 07/01/2008 the effective date of the
termination or cancellation of the bond, standard time at the Principal
Address as to each of said dates.
|
|
|
Item 3.
|
Limit of Liability
Subject to Sections 9, 10, and 12 hereof:
|
|
|
Limit of Liability
|
|
Deductible Amount
|
|
Insuring
Agreement A - FIDELITY
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
Insuring
Agreement B - AUDIT EXPENSE
|
|
$
|
25,000
|
|
$
|
NIL
|
|
Insuring
Agreement C - PREMISES
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
Insuring
Agreement D - TRANSIT
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
Insuring
Agreement E - FORGERY OR ALTERATION
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
Insuring
Agreement F - SECURITIES
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
Insuring
Agreement G - COUNTERFEIT CURRENCY
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
Insuring
Agreement H - STOP PAYMENT
|
|
$
|
100,000
|
|
$
|
2,500
|
|
Insuring
Agreement I - UNCOLLECTIBLE ITEMS OF DEPOSIT
|
|
$
|
100,000
|
|
$
|
2,500
|
|
OPTIONAL
COVERAGES ADDED BY RIDER:
J - COMPUTER SYSTEMS -
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
K - UNATHORIZED
SIGNATURES -
|
|
$
|
100,000
|
|
$
|
2,500
|
|
L -
TELEFACSIMILE COVERAGE -
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
M - VOICE INITIATED
TRANSACTIONS -
|
|
$
|
23,000,000
|
|
$
|
25,000
|
|
If Not Covered is inserted
above opposite any specified Insuring Agreement or Coverage, such Insuring
Agreement or Coverage and any other reference thereto in this bond shall be
deemed to be deleted therefrom.
Item
4.
|
Offices or Premises
Covered - Offices acquired or established subsequent to the effective date of
this bond are covered according to the terms of General Agreement A. All the
Insureds offices or premises in existence at the time this bond becomes
effective are covered under this bond except the offices or premises located
as follows: N/A
|
|
|
Item 5.
|
The liability of the
Underwriter is subject to the terms of the following endorsements or riders
attached hereto:
|
ICB010 Ed. 07-04, ICB011 Ed. 07-04
ICB012 Ed. 07-04, ICB013 Ed. 07-04
ICB014 Ed. 07-04, ICB015 Ed. 07-04
ICB016 Ed. 07-04, ICB025 Ed. 07-04
ICB026 Ed. 07-04, ICB042 Ed. 07-04
ICB057 Ed. 04-05, MEL1657 Ed. 07-04
MEL3274 Ed.
07-05
Page
1
of 2
ICB001 Rev. 7/04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Rights Reserved
Item 6. The
Insured by the acceptance of this bond gives notice to the Underwriter
terminating or canceling prior bonds or policy(ies) No.(s) 490PB1194 such
termination or cancellation to be effective as of the time this bond becomes
effective.
IN WITNESS WHEREOF, the
Company has caused this bond to be signed by its President and Secretary and
countersigned by a duly authorized representative of the Company.
Countersigned:
|
|
|
|
|
ST. PAUL FIRE AND
MARINE INSURANCE COMPANY
|
|
|
|
|
|
|
Authorized Representative
Countersigned At
|
|
|
|
|
|
Secretary
|
President
|
Countersignature Date
|
|
|
|
Page 2 of 2
ICB001 Rev. 7/04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Rights Reserved
INVESTMENT COMPANY BLANKET BOND
The Underwriter, in consideration of an agreed
premium, and subject to the Declarations made a part hereof, the General
Agreements, Conditions and Limitations and other terms of this bond, agrees
with the Insured, in accordance with the Insuring Agreements hereof to which an
amount of insurance is applicable as set forth in Item 3 of the Declarations
and with respect to loss sustained by the Insured at any time but discovered
during the Bond Period, to indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
(A)
FIDELITY
Loss
resulting from any dishonest or fraudulent act(s), including Larceny or
Embezzlement, committed by an Employee, committed anywhere and whether
committed alone or in collusion with others, including loss of Property
resulting from such acts of an Employee, which Property is held by the Insured
for any purpose or in any capacity and
whether so held gratuitously
or not and whether or not the Insured is
liable therefor.
Dishonest
or fraudulent act(s) as used in this Insuring Agreement shall mean only
dishonest or fraudulent act(s) committed by such Employee with the manifest
intent:
(a)
to cause the Insured to sustain such loss; and
(b)
to obtain financial benefit for the Employee, or for any other
Person or organization intended
by the Employee to receive such benefit, other than salaries, commissions,
fees, bonuses, promotions, awards, profit sharing, pensions or other employee
benefits earned in the normal course of employment.
(B)
AUDIT EXPENSE
Expense
incurred by the Insured for that part of the costs of audits or examinations
required by any governmental regulatory authority to be conducted either by
such authority or by an independent accountant by reason of the discovery of
loss sustained by the Insured through any dishonest or fraudulent act(s),
including Larceny or Embezzlement, of any of the Employees. The total liability
of the Underwriter for such expense by reason of such acts of any Employee or
in which such Employee is concerned or implicated or with respect to any one
audit or examination is limited to the amount stated opposite Audit Expense in
Item 3 of the Declarations; it being understood, however, that such expense
shall be deemed to be a loss sustained by the Insured through any dishonest or
fraudulent act(s), including Larceny or Embezzlement, of one or more of the
Employees, and the liability under this paragraph shall be in addition to the
Limit of Liability stated in Insuring Agreement (A) in Item 3 of the
Declarations.
(C)
ON PREMISES
Loss
of Property (occurring with or without negligence or violence) through robbery,
burglary, Larceny, theft, holdup, or other fraudulent means, misplacement,
mysterious unexplainable disappearance, damage thereto or destruction thereof, abstraction
or removal from the possession, custody or control of the Insured,
and loss of subscription, conversion, redemption or deposit privileges through
the misplacement or loss of Property,
while the Property is (or is supposed or believed by the Insured to be) lodged or deposited within
any offices or premises located anywhere, except in an office listed in item 4
of the Declarations or amendment thereof or in the mail or with a carrier for
hire, other than an armored motor vehicle company, for the purpose of transportation.
Office
and Equipment
(1)
loss of or damage to furnishings, fixtures, stationery, supplies or
equipment, within any of the Insureds offices covered under this bond caused
by Larceny or theft in, or by burglary, robbery or hold-up of, such office, or
attempt thereat, or by vandalism or malicious mischief; or
(2)
loss through damage to any such office by Larceny or theft in, or by
burglary, robbery or hold-up of, such office, or attempt thereat, or to the
interior of any such office by vandalism or malicious mischief provided, in any
event, that the Insured is the owner of such offices, furnishings, fixtures,
stationery, supplies or equipment or is legally liable for such loss or damage
always excepting, however, all loss or damage through fire.
(D)
IN TRANSIT
Loss
of Property (occurring with or without negligence or violence) through robbery,
Larceny, theft, hold-up, misplacement, mysterious unexplainable disappearance,
being lost or otherwise made away with, damage thereto or destruction thereof,
and loss of subscription, conversion, redemption or deposit privileges through
the misplacement or loss of Property,
1
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
while the Property is in
transit anywhere in the custody of any person or persons acting as messenger,
except while in the mail or with a carrier for hire, other than an armored
motor vehicle company, for the purpose of transportation, such transit to begin
immediately upon receipt of such Property by the transporting person or
persons, and to end immediately upon delivery thereof at destination.
(E)
FORGERY OR ALTERATION
Loss through Forgery or
alteration of or on:
(1)
any bills of exchange, checks, drafts, acceptances, certificates of deposit,
promissory notes, or other written promises, orders or directions to pay sums
certain in money, due bills, money orders, warrants, orders upon public
treasuries, letters of credit, or
(2)
other written instructions, advices or applications directed to the Insured,
authorizing or acknowledging the transfer, payment, delivery or receipt of
funds or Property, which instructions, advices or applications purport to have
been signed or endorsed by any:
(a) customer of the Insured, or
(b) shareholder or subscriber to shares, whether certificated or
uncertificated, of any Investment Company, or
(c) financial or banking institution or stockbroker,
but which instructions,
advices or applications either bear the forged signature or endorsement or have
been altered without the knowledge and consent of such customer, shareholder or
subscriber to shares, or financial or banking institution or stockbroker, or
(3)
withdrawal orders or receipts for the withdrawal of funds or Property, or
receipts or certificates of deposit for Property and bearing the name
,
of the Insured as issuer, or of another Investment Company for which the
Insured acts as agent, excluding, however, any loss covered under Insuring Agreement
(F) hereof whether or not coverage for Insuring Agreement (F) is provided for
in the Declarations of this bond.
Any check or draft (a) made
payable to a fictitious payee and endorsed in the name of such fictitious payee
or (b) procured in a transaction with the maker or drawer thereof or with one
acting as an agent of such maker or drawer or anyone impersonating another and
made or drawn payable to the one so impersonated and endorsed by anyone other
than the one impersonated, shall be deemed to be forged as to such endorsement.
Mechanically reproduced
facsimile signatures are treated the same as handwritten signatures.
(F)
SECURITIES
Loss sustained by the
Insured, including loss sustained by reason of a violation of the constitution
by-laws, rules or regulations of any Self Regulatory Organization of which the
Insured is a member or which would have been imposed upon the Insured by the
constitution, by-laws, rules or regulations of any Self Regulatory Organization
if the Insured had been a member thereof,
(1)
through the Insureds having, in good faith and in the course of business,
whether for its own account or for the account of others, in any
representative, fiduciary, agency or any other capacity, either gratuitously or
otherwise, purchased or otherwise acquired, accepted or received, or sold or
delivered, or given any value, extended any credit or assumed any liability, on
the faith of, or otherwise acted upon, any securities, documents or other
written instruments which prove to have been:
(a) counterfeited,
or
(b) forged as to the signature of any maker, drawer, issuer,
endorser, assignor, lessee, transfer agent or registrar, acceptor, surety or
guarantor or as to the signature of any person signing in any other capacity,
or
(c) raised or otherwise altered, or lost, or stolen, or
(2)
through the Insureds having, in good faith and in the course of business,
guaranteed in writing or witnessed any signatures whether for valuable
consideration or not and whether or not such guaranteeing or witnessing is
ultra vires the Insured, upon any transfers, assignments, bills of sale, powers
of attorney, guarantees, endorsements or other obligations upon or in
connection with any securities, documents or other written instruments and
which pass or purport to pass title to such securities, documents or other
written instruments; excluding losses caused by Forgery or alteration of, on or
in those instruments covered under Insuring Agreement (E) hereof.
Securities, documents or other written
instruments shall be deemed to mean original (including original counterparts)
negotiable or non-negotiable agreements which in and of themselves represent an
equitable interest, ownership, or debt, including an assignment thereof, which
instruments are, in the ordinary course of business, transferable by delivery,
of such agreements with any necessary endorsement or assignment.
The word counterfeited as used in this
Insuring Agreement shall be deemed to mean any security, document or other
written instrument which is intended to deceive and to be taken for an
original.
Mechanically reproduced facsimile signatures
are treated the same as handwritten signatures.
2
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
(G)
COUNTERFEIT CURRENCY
Loss through the receipt by
the Insured, in good faith, of any counterfeited money orders or altered paper
currencies or coin of the United States of America or Canada issued or
purporting to have been issued by the United States of America or Canada or
issued pursuant to a United States of America or Canada statute for use as
currency.
(H)
STOP PAYMENT
Loss against any and all sums
which the Insured shall become obligated to pay by reason of the liability
imposed upon the Insured by law for damages:
For having either complied
with or failed to comply with any written notice of any customer, shareholder
or subscriber of the Insured or any Authorized Representative of such customer,
shareholder or subscriber to stop payment of any check or draft made or drawn
by such customer, shareholder or subscriber or any Authorized Representative of
such customer, shareholder or subscriber, or
For having refused to pay any
check or draft made or drawn by any customer, shareholder or subscriber of the
Insured or any Authorized Representative of such customer, shareholder or
subscriber.
(I)
UNCOLLECTIBLE ITEMS OF
DEPOSIT
Loss resulting from payments
of dividends or fund shares, or withdrawals permitted from any customers,
shareholders, or subscribers account based upon Uncollectible Items of
Deposit of a customer, shareholder or subscriber credited by the Insured or the
Insureds agent to such customers, shareholders or subscribers Mutual Fund
Account; or loss resulting from an Item of Deposit processed through an
Automated Clearing House which is reversed by the customer, shareholder or
subscriber and deemed uncollectible by the Insured.
Loss includes dividends and
interest accrued not to exceed 15% of the Uncollectible Items which are
deposited.
This Insuring Agreement
applies to all Mutual Funds with exchange privileges if all Fund(s) in the
exchange program are insured by the Underwriter for Uncollectible Items of
Deposit. Regardless of the number of transactions between Fund(s), the minimum
number of days of deposit within the Fund(s) before withdrawal as declared in
the Fund(s) prospectus shall begin from the date a deposit was first credited
to any Insured Fund(s).
GENERAL AGREEMENTS
A.
ADDITIONAL OFFICES OR
EMPLOYEES - CONSOLIDATION OR MERGER - NOTICE
(1)
If the Insured shall, while this bond is in
force, establish any additional office or offices, such offices shall be
automatically covered hereunder from the dates of their establishment,
respectively. No notice to the Underwriter of an increase during any premium
period in the number of offices or in the number of Employees at any of the
offices covered hereunder need be given and no additional premium need be paid
for the remainder of such premium period.
(2)
If an Investment Company, named as Insured
herein, shall, while this bond is in force, merge or consolidate with, or
purchase the assets of another institution, coverage for such acquisition shall
apply automatically from the date of acquisition. The Insured shall notify the
Underwriter of such acquisition within 60 days of said date, and an additional
premium shall be computed only if such acquisition involves additional offices
or employees,
B.
WARRANTY
No statement made by or on
behalf of the Insured, whether contained in the application or otherwise, shall
be deemed to be a warranty of anything except that it is true to the best of
the knowledge and belief of the person making the statement.
C.
COURT COSTS AND ATTORNEYS FEES
(Applicable to all Insuring
Agreements or Coverages now or hereafter forming part of this bond)
The Underwriter will
indemnify the Insured against court costs and reasonable attorneys fees
incurred and paid by the Insured in defense, whether or not successful, whether
or not fully litigated on the merits and whether or not settled, of any suit or
legal proceeding brought against the Insured to enforce the Insureds liability
or alleged liability on account of any loss, claim or damage which, if established
against the Insured, would constitute a loss sustained by the Insured covered
under the terms of this bond provided, however, that with respect to Insuring
Agreement (A) this indemnity shall apply only in the event that:
(1)
an Employee admits to being guilty of any
dishonest or fraudulent act(s),
including Larceny or Embezzlement;
or
(2)
an Employee is adjudicated to be guilty of any
dishonest or fraudulent act(s), including Larceny or Embezzlement;
3
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
(3)
in the absence of (1) or (2) above an
arbitration panel agrees, after a review of an agreed statement of facts, that
an Employee would be found guilty of dishonesty if such Employee were
prosecuted.
The Insured shall promptly
give notice to the Underwriter of any such suit or legal proceedings and at the
request of the Underwriter shall furnish it with copies of all pleadings and
other papers therein. At the Underwriters election the Insured shall permit
the Underwriter to conduct the defense of such suit or legal proceeding, in the
Insureds name, through attorneys of the Underwriters selection. In such
event, the Insured shall give all reasonable information and assistance which
the Underwriter shall deem necessary to the proper defense of such suit or
legal proceeding.
If the amount of the
Insureds liability or alleged liability is greater than the amount recoverable
under this bond, or if a Deductible Amount is applicable, or both, the
liability of the Underwriter under this General Agreement is limited to the proportion
of court costs and attorneys fees incurred and paid by the Insured or by the
Underwriter that the amount recoverable under this bond bears to the total of
such amount plus the amount which is not so recoverable. Such indemnity shall
be in addition to the Limit of Liability for the applicable Insuring Agreement
or Coverage.
D.
FORMER EMPLOYEE
Acts of an Employee, as
defined in this bond, are covered under Insuring Agreement (A) only while the
Employee is in the Insureds employ. Should loss involving a former Employee of
the Insured be discovered subsequent to the termination of employment, coverage
would still apply under Insuring Agreement (A) if the direct proximate cause of
the loss occurred while the former Employee performed duties within the scope
of his/her employment.
THE FOREGOING INSURING AGREEMENTS AND GENERAL AGREEMENTS
ARE SUBJECT TO THE FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION 1.
DEFINITIONS
The
following terms, as used in this bond have the respective meanings stated in
this Section:
(a) Employee means:
(1)
any of the Insureds officers, partners, or
employees, and
(2)
any of the officers or employees of any
predecessor of the Insured whose principal assets are acquired by the Insured
by consolidation or merger with, or purchase of assets or capital stock of,
such predecessor, and
(3)
attorneys retained by the Insured to perform
legal services for the Insured and the employees of such attorneys while such
attorneys or employees of such attorneys are performing such services for the
Insured, and
(4)
guest students pursuing their studies or
duties in any of the Insureds offices, and
(5)
directors or trustees of the Insured, the
investment advisor, underwriter (distributor}, transfer agent, or shareholder
accounting record keeper, or administrator authorized by written agreement to
keep financial and/or other required records, but only while performing acts
coming within the scope of the usual duties of an officer or employee or while
acting as a member of any committee duly elected or appointed to examine or
audit or have custody of or access to the Property of the Insured, and
(6)
any individual or individuals assigned to
perform the usual duties of an employee within the premises of the Insured, by
contract, or by any agency furnishing temporary personnel on a contingent or
part-time basis, and
(7)
each natural person, partnership or
corporation authorized by written agreement with the Insured to perform
services as electronic data processor of checks or other accounting records of
the Insured, but excluding any such processor who acts as transfer agent or in
any other agency capacity in issuing checks, drafts or securities for the Insured,
unless included under sub-section (9) hereof, and
(8)
those persons so designated in Section 15,
Central Handling of Securities, and
(9)
any officer, partner, or Employee of:
(a)
an investment advisor,
(b)
an underwriter (distributor),
(c)
a transfer agent or shareholder accounting
record-keeper, or
(d)
an administrator authorized by written
agreement to keep financial and/or other required records,
for an Investment Company
named as Insured while performing acts coming within the scope of the usual
duties of an officer or Employee of any investment Company named as Insured
herein, or while acting as a member of any
4
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
committee duly elected or
appointed to examine or audit or have custody of or access to the Property of
any such Investment Company, provided that only Employees or partners of a
transfer agent, shareholder accounting record-keeper or administrator which is
an affiliated person, as defined in the Investment Company Act of 1940, of an
Investment Company named as Insured or is an affiliated person of the advisor,
underwriter or administrator of such Investment Company, and which is not a
bank, shall be included within the definition of Employee.
Each employer of temporary
personnel or processors as set forth in sub-sections (6) and (7) of Section
1(a) and their partners, officers and employees shall collectively be deemed to
be one person for all the purposes of this bond, excepting, however, the last
paragraph of Section 13.
Brokers, or other agents
under contract or representatives of the same general character shall
not be considered Employees.
(b) Property means money (i.e. currency, coin, bank notes,
Federal Reserve notes), postage and revenue stamps, U.S. Savings Stamps,
bullion, precious metals of all kinds and in any form and articles made
therefrom, jewelry, watches, necklaces, bracelets, gems, precious and
semi-precious stones, bonds, securities, evidences of debts, debentures, scrip,
certificates, interim receipts, warrants, rights, puts, calls, straddles,
spreads, transfers, coupons, drafts, bills of exchange, acceptances, notes,
checks, withdrawal orders, money orders, warehouse receipts, bills of lading,
conditional sales contracts, abstracts of title, insurance policies, deeds,
mortgages under real estate and/or chattels and upon interests therein, and
assignments of such policies, mortgages and instruments, and other valuable
papers, including books of account and other records used by the Insured in the
conduct of its business, and all other instruments similar to or in the nature
of the foregoing including Electronic Representations of such instruments
enumerated above (but excluding all data processing records) in which the
Insured has an interest or in which the Insured acquired or should have
acquired an interest by reason of a predecessors declared financial condition
at the time of the Insureds consolidation or merger with, or purchase of the
principal assets of, such predecessor or which are held by the Insured for any
purpose or in any capacity and whether so held gratuitously or not and whether
or not the Insured is liable therefor.
(c) Forgery means the signing of the name of another with intent
to deceive; it does not include the signing of owns own name with or without
authority, in any capacity, for any purpose.
(d) Larceny and Embezzlement as it applies to any named Insured
means those acts as set forth in Section 37 of the Investment Company Act of 1940.
(e) Items
of Deposit means any one or more checks and drafts. Items of Deposit shall not
be deemed uncollectible until the Insureds collection procedures have failed.
SECTION 2.
EXCLUSIONS
THIS BOND, DOES NOT COVER:
(a)
loss effected directly or indirectly by means
of forgery or alteration of, on or in any instrument, except when covered by Insuring
Agreement (A), (E), (F) or (G).
(b)
loss due to riot or civil commotion outside
the United States of America and Canada; or loss due to military, naval or
usurped power, war or insurrection unless such loss occurs in transit in the
circumstances recited in Insuring Agreement (D), and unless, when such transit
was initiated, there was no knowledge of such riot, civil commotion, military,
naval or usurped power, war or insurrection on the part of any person acting
for the Insured in initiating such transit.
(c)
loss, in time of peace or war, directly or
indirectly caused by or resulting from the effects of nuclear fission or fusion
or radioactivity; provided, however, that this paragraph shall not apply to
loss resulting from industrial uses of nuclear energy.
(d)
loss resulting from any wrongful act or acts of any person who is a
member of the Board of Directors of the Insured or a member of any equivalent
body by whatsoever name known unless such person is also an Employee or an
elected official, partial owner or partner of the Insured in some other
capacity, nor, in any event, loss resulting from the act or acts of any person
while acting in the capacity of a member of such Board or equivalent body.
(e)
loss resulting from the complete or partial
non-payment of, or default upon, any loan or transaction in the nature of, or
amounting to, a loan made by or obtained from the Insured or any of its
partners, directors or Employees, whether authorized or unauthorized and
whether procured in good faith or through trick, artifice fraud or false
pretenses, unless such loss is covered under Insuring Agreement (A), (E) or
(F).
(f)
loss resulting from any violation by the
Insured or by any Employee:
5
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
(1)
of law regulating (a) the
issuance, purchase or sale of securities, (b) securities transactions upon
Security Exchanges or over the counter market, (c) Investment Companies, or (d}
Investment Advisors, or
(2)
of any rule or regulation made pursuant to any
such law.
unless such loss, in the
absence of such laws, rules or regulations, would be covered under Insuring
Agreements (A) or (E).
(g) loss of Property or loss of privileges through the misplacement
or loss of Property as set forth in Insuring Agreement (C) or (D) while the
Property is in the custody of any armored motor vehicle company, unless such
loss shall be in excess of the amount recovered or received by the Insured
under (a) the Insureds contract with said armored motor vehicle company, (b)
insurance carried by said armored motor vehicle company for the benefit of
users of its service, and (c) all other insurance and indemnity in force in
whatsoever form carried by or for the benefit of users of said armored motor
vehicle companys service, and then this bond shall cover only such excess.
(h) potential income, including but not limited to interest and
dividends, not realized by the Insured because of a loss covered under this
bond, except as included under Insuring Agreement (I).
(i) all damages of any type for which the Insured is legally
liable, except direct compensatory damages arising from a loss covered under
this bond.
(j) loss through the surrender of Property away from an office of
the Insured as a result of a threat:
(1)
to do bodily harm to any person, except loss of Property in transit in the
custody of any person acting as messenger provided that when such transit was
initiated there was no knowledge by the Insured of any such threat, or
(2)
to do damage to the premises or Property of the Insured, except when covered
under Insuring Agreement (A).
(k) all costs, fees and other expenses incurred by the Insured in
establishing the existence of or amount of loss covered under this bond unless
such indemnity is provided for under Insuring Agreement (B).
(l) loss
resulting from payments made or withdrawals from the account of a customer of
the Insured, shareholder or subscriber to shares involving funds erroneously
credited to such account, unless such payments are made to or withdrawn by such
depositors or representative of such person, who is within the premises of the drawee bank of the Insured or
within the office of the
Insured at the time of such payment or withdrawal or unless such payment is
covered under Insuring Agreement (A).
(m) any
loss resulting from Uncollectible Items of Deposit which are drawn from a
financial institution outside the fifty states of the United States of America,
District of Columbia, and territories and possessions of the United States of
America, and Canada.
SECTION 3.
ASSIGNMENT OF
RIGHTS
This bond does not afford coverage in favor of
any Employers of temporary personnel or of processors as set forth in
sub-sections (6) and (7) of Section 1(a) of this bond, as aforesaid, and upon
payment to the Insured by the Underwriter on account of any loss through
dishonest or fraudulent act(s) including Larceny or Embezzlement committed by
any of the partners, officers or employees of such Employers, whether acting
alone or in collusion with others, an assignment of such of the Insureds
rights and causes of action as it may have against such Employers by reason of such acts so committed shall, to the
extent of such payment, be given by the Insured to the Underwriter, and the
Insured shall execute all papers necessary to secure to the Underwriter the
rights herein provided for.
SECTION 4.
LOSS - NOTICE
- PROOF LEGAL-PROCEEDINGS
This bond is for the use and benefit only of
the Insured named in the Declarations and the Underwriter shall not be liable
hereunder for loss sustained by anyone other than the Insured unless the
Insured, in its sole discretion and at its option, shall include such loss in
the Insureds proof of loss. At the earliest practicable moment after discovery
of any loss hereunder the Insured shall give the Underwriter written notice
thereof and shall also within six months after such discovery furnish to the
Underwriter affirmative proof of loss with full particulars. If claim is made
under this bond for loss of securities or shares, the Underwriter shall not be
liable unless each of such securities or shares is identified in such proof of
loss by a certificate or bond number or, where such securities or shares are
uncertificated, by such identification means as agreed to by the Underwriter.
The Underwriter shall have thirty days after notice and proof of loss within
which to investigate the claim, but where the loss is clear and undisputed,
settlement shall be made within forty-eight hours; and this shall apply
notwithstanding the loss is made up wholly or in part of securities of which duplicates may be obtained. Legal
proceedings for recovery of any loss hereunder shall not be brought prior to
the
6
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
expiration of sixty days after
such proof of loss is
filed with
the Underwriter nor after the expiration of twenty-four months from the
discovery of such loss, except that any action or proceedings to recover
hereunder on account of any judgment against the Insured in any suit mentioned
in General Agreement C or to recover attorneys fees paid in any such suit,
shall be begun within twenty-four months from the date upon which the judgment
in such suit shall become final. If any limitation embodied in this bond is
prohibited by any law controlling the construction hereof, such limitation
shall be deemed to be amended so as to be equal to the minimum period of
limitation permitted by such law.
Discovery
occurs when the Insured:
(a)
becomes aware of facts, or
(b)
receives written notice of an actual or
potential claim by a third party which alleges that the Insured is liable under
circumstances,
which would cause a reasonable person to
assume that a loss covered by the bond has been or will be incurred even though
the exact amount or details of loss may not be then known.
SECTION 5.
VALUATION OF
PROPERTY
The value of any Property, except books of
accounts or other records used by the Insured in the conduct of its business,
for the loss of which a claim shall be made hereunder, shall be determined by
the average market value of such Property on the business day next preceding
the discovery of such loss; provided, however, that the value of any Property
replaced by the Insured prior to the payment of claim therefor shall be the
actual market value at the time of replacement; and further provided that in
case of a loss or misplacement of interim certificates, warrants, rights, or
other securities, the production of which is necessary to the exercise of
subscription, conversion, redemption or deposit privileges, the value thereof
shall be the market value of such privileges immediately preceding the
expiration thereof if said loss or misplacement is not discovered until after
their expiration. If no market price is quoted for such Property or for such
privileges, the value shall be fixed by agreement between the parties or by
arbitration.
In case of any loss or damage to Property
consisting of books of accounts or other records used by the Insured in the
conduct of its business, the Underwriter shall be
liable
under this bond only if such books or records
are actually reproduced and then for not more than the cost of blank books,
blank pages or other materials plus the cost of labor for the actual
transcription or copying of data which shall have been furnished by the Insured
in order to reproduce such books and other records.
SECTION 6.
VALUATION OF
PREMISES AND FURNISHINGS
In case of damage to any office of the
Insured, or loss of or damage to the furnishings, fixtures, stationery,
supplies, equipment, safes or vaults therein, the Underwriter shall not be
liable for more than the actual cash value thereof, or for more than the actual
cost of their replacement or repair. The Underwriter may, at its election, pay
such actual cash value or make such replacement or repair. If the underwriter
and the Insured cannot agree upon such cash value or such cost of replacement
or repair, such shall be determined by arbitration.
SECTION 7.
LOST SECURITIES
If the Insured shall sustain a loss of
securities the total value of which is in excess of the limit stated in Item 3
of the Declarations of this bond, the liability of the Underwriter shall be
limited to payment for, or duplication of, securities having value equal to the
limit stated in Item 3 of the Declarations of this bond.
If the Underwriter shall make payment to the
Insured for any loss of securities, the Insured shall thereupon assign to the
Underwriter all of the Insureds rights, title and interest in and to said
securities.
With respect to securities the value of which
do not exceed the Deductible Amount (at the time of the discovery of the loss )
and for which the Underwriter may at its sole discretion and option and at the
request of the Insured issue a Lost Instrument Bond or Bonds to effect
replacement thereof, the Insured will pay the usual premium charged therefor
and will indemnify the Underwriter against all loss or expense that the
Underwriter may sustain because of the issuance of such Lost Instrument Bond or
Bonds.
With respect to securities the value of which
exceeds the Deductible Amount (at the time of discovery of the loss) and for
which the Underwriter may issue or arrange for the issuance of a Lost
Instrument Bond or Bonds to effect replacement thereof, the Insured agrees that
it will pay as premium therefor a proportion of the
usual
premium
charged therefor, said proportion being equal to the
percentage that the Deductible Amount bears to the value of the securities upon
discovery of the loss, and that it will indemnify the issuer of said Lost
Instrument Bond or Bonds against all loss and expense that is not recoverable
from the Underwriter under the terms and conditions of this Investment Company
Blanket Bond subject to the Limit of Liability hereunder.
SECTION 8.
SALVAGE
in case of recovery, whether made by the
Insured or by the Underwriter, on account of any loss in excess of the Limit of
Liability hereunder plus the Deductible Amount applicable to such loss, from
any source other than suretyship, insurance, reinsurance, security or indemnity
taken by or for the benefit of the Underwriter, the net amount of such
recovery, less the actual costs and expenses of making same, shall
7
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
be
applied
to reimburse the Insured in full for the excess
portion of such loss, and the remainder, if any, shall be paid first in
reimbursement of the Underwriter and thereafter in reimbursement of the Insured
for that part of such loss within the Deductible Amount. The Insured shall
execute all necessary papers to secure to the Underwriter the rights provided
for herein.
SECTION
9.
NON-REDUCTION AND NON-ACCUMULATION OF
LIABILITY AND TOTAL LIABILITY
At
all times prior to termination hereof, this bond shall continue in force for
the limit stated in the applicable sections of Item 3 of the Declarations of
this bond notwithstanding any previous loss for which the Underwriter may have
paid or be liable to pay hereunder; PROVIDED, however, that regardless of the
number of years this bond shall continue in force and the number or premiums
which shall be payable or paid, the liability of the Underwriter under this bond
with respect to all loss resulting from:
(a)
any one act of burglary, robbery or holdup,
or attempt thereat, in which no Partner or Employee is concerned or implicated
shall be deemed to be one loss, or
(b)
any one unintentional or negligent act on the
part of any other person resulting in damage to or destruction or misplacement
of Property, shall be deemed to be one loss, or
(c)
all wrongful acts, other than those specified
in (a) above, of any one person shall be deemed to be one loss, or
(d)
all wrongful acts, other than those specified
in (a) above, of one or more persons (which dishonest act(s) or act(s) of
Larceny or Embezzlement include, but are not limited to, the failure of an
Employee to report such acts of others) whose dishonest act or acts intentionally
or unintentionally, knowingly or unknowingly, directly or indirectly, aid or
aids in any way, or permits the continuation of, the dishonest act or acts of
any other person or persons shall be deemed to be one loss with the act or acts
of the persons aided, or
(e)
any one casualty or event other than those
specified in (a), (b), (c) or (d)
preceding, shall be deemed to be
one loss, and
shall
be limited to the applicable Limit of Liability stated in Item 3 of the
Declarations of this bond irrespective of the total amount of such loss or
losses and shall not be cumulative in amounts from year to year or from period
to period.
Sub-section
(c) is not applicable to any situation to which
the language of sub-section (d) applies.
SECTION 10.
LIMIT OF LIABILITY
With respect to any loss set forth in the
PROVIDED clause of Section 9 of this bond which is recoverable or recovered in
whole or in part under any other bonds or policies issued by the Underwriter to
the Insured or to any predecessor in interest of the Insured and terminated or
cancelled or allowed to expire and in which the period of discovery has not
expired at the time any such loss thereunder is discovered, the total liability
of the Underwriter under this bond and under other bonds or policies shall not
exceed, in the aggregate, the amount carried hereunder on such loss or the
amount available to the Insured under such other bonds or policies, as limited
by the terms and conditions thereof, for any such loss if the latter amount be
the larger.
SECTION 11.
OTHER
INSURANCE
If the Insured shall hold, as indemnity
against any loss covered hereunder, any valid and enforceable insurance or
suretyship, the Underwriter shall be liable hereunder only for such amount of
such loss which is in excess of the amount of such other insurance or
suretyship, not exceeding, however, the Limit of Liability of this bond
applicable to such loss.
SECTION 12.
DEDUCTIBLE
The Underwriter shall not be liable under any
of the Insuring Agreements of this bond on account of loss as specified,
respectively, in sub-sections (a), (b), (c), (d) and (e) of Section 9,
NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY, unless the
amount of such loss, after deducting the net amount of all reimbursement and/or
recovery obtained or made by the Insured, other than from any bond or policy of
insurance issued by an insurance company and covering such loss, or by the
Underwriter on account thereof prior to payment by the Underwriter of such
loss, shall exceed the Deductible Amount set forth in Item 3 of the
Declarations hereof (herein called Deductible Amount), and then for such excess
only, but in no event for more than the applicable Limit of Liability stated in
Item 3 of the Declarations.
The Insured will bear, in addition to the
Deductible Amount, premiums on Lost Instrument Bonds as set forth in Section 7.
There shall be no deductible applicable to
any loss under Insuring Agreement A sustained by any Investment Company named
as Insured herein.
SECTION 13.
TERMINATION
The Underwriter may terminate this bond as an
entirety by furnishing written notice specifying the termination date, which
cannot be prior to 60 days after the receipt of such written notice by each
8
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
Investment Company named as
-
Insured and the Securities and Exchange Commission, Washington, D.C. The
Insured may terminate this bond as an entirety by furnishing written notice to
the Underwriter. When the Insured cancels, the Insured shall furnish written
notice to the Securities and Exchange Commission, Washington, D.C., prior to 60
days before the effective date of the termination. The Underwriter shall notify
all other Investment Companies named as Insured of the receipt of such
termination notice and the termination cannot be effective prior to 60 days
after receipt of written notice by all other Investment Companies. Premiums are
earned until the termination date as set forth herein.
This Bond will terminate as to any one Insured
immediately upon taking over of such Insured by a receiver or other liquidator
or by State or Federal officials, or immediately upon the filing of a petition
under any State or Federal statute relative to bankruptcy
or reorganization of the Insured, or assignment for the benefit of
creditors of the Insured, or immediately upon such Insured ceasing to
exist, whether through merger into another entity, or by disposition of all of
its assets.
The
Underwriter shall refund the unearned premium computed at short rates in
accordance with the standard short rate cancellation tables if terminated by the Insured
or pro rata
if terminated for any other
reason.
This Bond shall terminate:
(a)
as to any Employee as soon as any partner,
officer or supervisory Employee of the Insured, who is not in collusion with
such Employee, shall learn of any dishonest or fraudulent act(s), including
Larceny or Embezzlement on the part of such Employee
without prejudice to the loss of any Property then in transit
in the custody of such Employee (see Section 16(d)), or
(b)
as to any Employee 60 days after receipt by
each Insured and by the Securities and Exchange Commission of a written notice
from the Underwriter of its desire to terminate this bond as to such Employee,
or
(c)
as to any person, who is a partner, officer or
employee of any Electronic Data Processor covered under this bond, from and
after the time that the Insured or any partner or officer thereof not in
collusion with such person shall have knowledge or information that such person
has committed any dishonest or fraudulent act(s), including Larceny or
Embezzlement in the service of the Insured or otherwise, whether such act be
committed before or after the time this bond is effective.
SECTION 14.
RIGHTS
AFTER TERMINATION OR CANCELLATION
At any time prior to the termination or
cancellation of this bond as an entirety, whether by the Insured or the
Underwrite, the Insured may give the Underwriter notice that it desires under
this bond an additional period of 12 months within which to discover loss
sustained by the Insured prior to the effective date of such termination or
cancellation and shall pay an additional premium therefor.
Upon receipt of such notice from the Insured,
the Underwriter shall give its written consent thereto; provided, however, that
such additional period of time shall terminate immediately:
(a)
on the effective date of any other insurance
obtained by the Insured, its successor in business or any other party,
replacing in whole or in part the insurance afforded by this bond, whether or
not such other insurance provides coverage for loss sustained prior to its
effective date, or
(b)
upon takeover of the Insured
s
business by any State or Federal official or agency, or by any receiver or
liquidator, acting or appointed for this purpose without the necessity of the
Underwriter giving notice of such termination. In the event that such
additional period of time is terminated, as provided above, the Underwriter
shall refund any unearned premium.
The right to purchase such additional period
for the discovery of loss may not be exercised by any State or Federal official
or agency, or by a receiver or liquidator, acting or appointed to take over the
Insureds business for the operation or for the liquidation thereof or for any
purpose.
SECTION 15
.
CENTRAL HANDLING OF
SECURITIES
Securities included in the system for the
central handling of securities established and maintained by Depository Trust
Company, Midwest Depository
Trust
Company, Pacific Securities Depositary Trust Company, and Philadelphia
Depository Trust Company, hereinafter called Corporations, to the extent of the
Insureds interest therein as effected by the making of appropriate entries on
the books and records of such Corporations shall be deemed to be Property.
The words Employee and Employees shall be
deemed to include the officers, partners, clerks and other employees of the New
York Stock Exchange, Boston Stock Exchange, Midwest Stock Exchange,
9
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
Pacific Stock Exchange and Philadelphia Stock
Exchange, hereinafter called Exchanges, and of the above named Corporations,
and of any nominee in whose name is registered any security included within the
systems for the central handling of securities established and maintained by
such Corporations, and any employee or any recognized service company, while
such officers, partners, clerks and other employees and employees of service
companies perform services for such Corporations in the operation of such
systems. For the purpose
of
the above definition a
recognized service company shall be any company providing clerks or other
personnel to the said Exchanges or Corporations on a contract basis.
The Underwriter shall not be liable on
account of any loss(es) in connection with the central handling of securities
within the systems established and maintained by such Corporations, unless such
loss(es) shall be in excess of the amount(s) recoverable or recovered under any
bond or policy of insurance indemnifying such Corporations against such
loss(es), and then the Underwriter shall be liable hereunder only for the
Insureds share of such excess loss(es), but in no event for more than the
Limit of Liability applicable hereunder,
For the purpose of determining the Insureds
share
of excess loss(es) it shall be deemed that the
Insured has an interest in any certificate representing any security included
within such systems equivalent to the interest the Insured then has in all
certificates representing the same security included within such systems and
that such Corporations shall use their best judgment in apportioning the
amount(s) recoverable or recovered under any bond or policy of insurance
indemnifying such Corporations against such loss(es) in connection with the
central handling of securities within such systems among all those having an
interest as recorded by appropriate entries in the books and records of such
Corporations in Property involved in such loss(es) on the basis that each such
interest shall share in the amount(s) so recoverable or recovered in the ratio
that the value of each such interest bears to the total value all such
interests and that the Insureds share of such excess loss(es) shall be the amount of the Insureds interest in such Property
in excess of the amount(s) so apportioned to the Insured by such Corporations.
This bond does not afford coverage in favor
of such Corporations or Exchanges or any nominee in whose name is registered
any security included within the systems for the central handling of securities
established and maintained by such Corporations, and upon payment to the
Insured by the Underwriter on account of any loss(es) within the systems, an
assignment of such of the Insureds rights and causes of action as it may have
against such Corporations or Exchanges shall to the extent of such payment, be
given by the Insured to the Underwriter, and the Insured shall execute all
papers necessary to secure the Underwriter the rights provided for herein.
SECTION 16.
ADDITIONAL COMPANIES
INCLUDED AS INSURED
If more than one corporation,
co-partnership or person or any combination of them be included as the Insured
herein:
(a)
the total liability of the Underwriter
hereunder for loss or losses sustained by any one or more or all of them shall
not exceed the limit for which the Underwriter would be liable hereunder if all
such loss were sustained by any one of them;
(b)
the one first named herein shall be deemed
authorized to make, adjust and receive and enforce payment of all claims
hereunder and shall be deemed to be the agent of the others for such purposes
and for the giving or receiving of any notice required or permitted to be given
by the terms hereof, provided that the Underwriter shall furnish each named
Investment Company with a copy of the bond and with any amendment thereto,
together with a copy of each formal filing of the settlement of each such claim
prior to the execution of such settlement;
(c)
the Underwriter shall not be responsible for
the proper application of any payment made hereunder to said first named
Insured;
(d)
knowledge possessed or discovery made by any
partner, officer of supervisory Employee of any Insured shall for the purposes
of Section 4 and Section 13 of this bond constitute knowledge or discovery by
all the Insured; and
(e)
if the first named Insured ceases for any
reason to be covered under this bond, then the Insured next named shall
thereafter be considered as the first, named Insured for the purposes of this
bond.
SECTION 17.
NOTICE
AND CHANGE OF CONTROL
Upon the Insured obtaining knowledge of a
transfer of its outstanding voting securities which results in a change in
control (as set forth in Section 2(a) (9) of the Investment Company Act of
1940) of the Insured, the Insured shall within thirty (30) days of such
knowledge give written notice to the Underwriter setting forth:
(a)
the names of the transferors and transferees (or the names of the
beneficial owners if the voting securities are requested in another name), and
10
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
(b)
the total number of voting securities owned by the transferors and the transferees
(or the beneficial owners), both immediately before and after the transfer, and
(c)
the total number of outstanding voting
securities.
As
used in this section, control means the power to exercise a controlling
influence over the management or policies of the Insured.
Failing
to give the required notice shall result in termination of coverage of this
bond, effective upon the date of stock transfer for any loss in which any
transferee is concerned or implicated.
Such
notice is not required to be given in the case of an Insured which is an
Investment Company.
SECTION 18.
CHANGE
OR MODIFCATION
This bond or any instrument amending or effecting
same may not be changed or modified orally. No changes in or modification
thereof shall be effective unless made by written endorsement issued to form a
part hereof over the signature of the Underwriters Authorized Representative.
When a bond covers only one Investment Company no change or modification which
would adversely affect the rights of the Investment Company shall be effective
prior to 60 days after written notification has been furnished to the
Securities and Exchange Commission, Washington, D.C., by the Insured or by the
Underwriter. If more than one Investment Company is named as the Insured
herein, the Underwriter shall give written notice to each Investment Company
and to the Securities and Exchange Commission, Washington, D.C., not less than
60 days prior to the effective date of any change or modification which would
adversely affect the rights of such Investment Company.
11
of 11
ICB005 Ed. 7-04
Ó
2004 The St. Paul Travelers Companies, Inc. All
Right Reserved
ENDORSEMENT OR RIDER
NO. 1
THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ
IT
CAREFULLY.
The following spaces proceeded by an (*) need not be
completed if this endorsement or rider and
the
Bond or Policy have the same inception date.
ATTACHED
TO AND FORMING PART
OF BOND OR POLICY NO.
490PB1610
|
DATE
ENDORSEMENT OR
RIDER EXECUTED
07/17/2007
|
*
EFFECTIVE DATE OF ENDORSEMENT OR RIDER
07/01/2007
12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
|
Credit Suisse Asset Management, LLC
Named Insured Endorsement
It is
agreed that:
1.
From and after the time
this rider becomes effective the Insured under the attached bond are:
Open-end Funds
|
|
Credit Suisse Absolute
Return Fund
|
Credit Suisse Large
Cap Growth Fund
|
Credit Suisse
Cash Reserve Fund
|
Credit Suisse
Commodity Return Strategy Fund
|
Credit Suisse Mid-Cap
Core Fund
|
Credit Suisse
Emerging Markets Fund
|
Credit Suisse
Global Fixed Income Fund
|
Credit Suisse
Global Small Cap Fund
|
Credit Suisse
High Income Fund
|
Credit Suisse
Institutional Fund, Inc.
|
International
Focus Portfolio
|
Asia Bond
Portfolio
|
Credit Suisse
Global High Yield Fund
|
|
Credit Suisse
Institutional Money Market Fund
|
Government
Portfolio
|
Prime Portfolio
|
Credit Suisse
International Focus Fund
|
Credit Suisse
Japan Equity Fund
|
Credit Suisse
Large Cap Value Fund
|
Credit Suisse
Large Cap Blend Fund
|
Credit Suisse Short Duration Bond Fund
|
Credit Suisse
Small Cap Core Fund
|
Credit Suisse
Trust
|
Blue Chip
Portfolio
|
Mid-Cap Core
Portfolio
|
Emerging Markets
Portfolio
|
Page 1 of 2
ICB010 Ed. 7/04
International Focus Portfolio
|
Global Small Cap Portfolio
|
Large Cap Value
Portfolio
|
Small Cap Core I
Portfolio
|
Small Cap Core II Portfolio
|
Commodity Return Strategy
|
|
Closed-end
Funds
|
Credit Suisse
Asset Management Income Fund
|
Credit Suisse
High Yield Bond Fund
|
The Chile Fund
|
The Emerging
Markets Telecom
|
The First Israel
Fund
|
The Indonesia
Fund
|
The Latin
America Equity Fund
|
2.
The first named Insured
shall act for itself and for each and all of the Insured for all the purposes
of the attached bond.
3.
Knowledge possessed or
discovery made by any Insured or by any partner or officer thereof shall for
all the purposes of the attached bond constitute knowledge or discovery by all
the Insured.
4.
If, prior to the
termination of the attached bond in its entirety, the attached bond is
terminated as to any Insured, there shall be
no
liability
for any loss sustained by such Insured unless discovered before the time such
termination as to such Insured becomes effective.
5.
The liability of the
Underwriter for loss or losses sustained by any or all of the Insured shall not
exceed the amount for which the Underwriter
would be liable had all such loss or losses been
sustained by any one of the Insured. Payment by the Underwriter to the first
named Insured of
loss sustained by any Insured shall fully release the Underwriter on
account of such loss.
6.
If the first named
Insured ceases for any reason to be covered under the attached bond, then the
Insured next named shall thereafter be considered as the first named Insured
for all the purposes of the attached bond.
Nothing herein contained shall
be
held to vary, alter, waive, or extend any of the
terms, conditions, provisions, agreements or limitations of the above mentioned
Bond or Policy, other than as above stated.
|
By
|
|
|
|
Authorized
Representative
|
Page 2 of 2
ICB010 Ed. 7/04
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ IT
CAREFULLY.
The following spaces
preceded
by an
(*)
need not be completed if
this
endorsement or rider and the
Bond
or
Policy
have the
same
inception
date.
ATTACHED TO AND FORMING PART
OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
* EFFECTIVE DATE
OF ENDORSEMENT OR RIDER
12:01
A.M. STANDARD TIME AS
|
|
|
|
|
SPECIFIED IN THE
BOND OR POLICY
|
490PB1610
|
|
07/17/07
|
|
07/01/07
|
CREDIT SUISSE ASSET MANAGEMENT, LLC
Computer Systems
It is agreed that:
|
|
|
|
1.
|
The attached bond is amended by adding an additional
Insuring Agreement as follows:
|
|
|
|
INSURING AGREEMENT J COMPUTER SYSTEMS
|
|
|
Loss resulting directly from a fraudulent
|
|
|
|
(1)
|
entry of data into, or
|
|
|
|
|
(2)
|
change of data elements or program within a Computer
System listed in the SCHEDULE below, provided the fraudulent entry or change
causes
|
|
|
|
|
|
(a)
|
Property to be transferred, paid or delivered,
|
|
|
|
|
|
|
(b)
|
an account of the Insured, or of its customer, to be
added, deleted, debited or credited, or
|
|
|
|
|
|
|
(c)
|
an
unauthorized
account or a fictitious account to be debited or credited, and provided
further, the fraudulent entry or change is made or caused by an individual
acting with the manifest intent to
|
|
|
|
|
|
|
|
(i)
|
cause the Insured to sustain a loss, and
|
|
|
|
|
|
|
|
|
(ii)
|
obtain financial benefit for that individual or for
other persons intended by that individual to receive financial benefit.
|
|
|
|
|
SCHEDULE
|
All systems utilized by the Insured
|
|
2.
|
As used
in
this Rider, Computer System means
|
|
|
|
|
(a)
|
computers with related peripheral components,
including storage components, wherever located,
|
|
|
|
|
|
|
(b)
|
systems and applications software,
|
|
|
|
|
|
|
(c)
|
terminal devices, and
|
|
|
|
|
|
|
(d)
|
related communication networks
|
|
|
|
|
by which data are electronically collected,
transmitted, processed, stored and retrieved.
|
|
|
|
3.
|
In
addition to the exclusions in the attached bond, the following
exclusions are applicable to this Insuring Agreement:
|
|
|
|
|
(a)
|
loss resulting directly or indirectly from the theft
of confidential. information, material or data; and
|
|
|
|
|
|
|
|
Page 1 of 2
ICB011 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
|
|
(b)
|
loss resulting directly or indirectly from entries
or changes made by an individual authorized to have
access to a Computer System who acts in good faith on instructions,
unless such instructions are given
to that individual by a software
contractor (or by a partner, officer or employee thereof) authorized by
the Insured to design, develop, prepare, supply,
service, write or implement programs for the Insure
d
s
Computer System.
|
|
|
|
4.
|
The following portions of the attached bond are not
applicable to this Rider:
|
|
|
|
|
|
(a)
|
the portion preceding the Insuring Agreements which
reads at any time but discovered during the Bond Period;
|
|
|
|
|
|
|
(b)
|
Section 9 NONREDUCTION AND NON-ACCUMULATION OF
LIABILITY of the Conditions
and Limitations; and
|
|
|
|
|
|
(c)
|
Section 10 LIMIT OF LIABILITY of the Conditions and
Limitations.
|
|
|
|
5.
|
The coverage afforded by this Rider applies only to
loss discovered by the Insured during the period this Rider
is in force.
|
|
|
6.
|
All loss
or series of losses involving the fraudulent activity of one
individual, or involving fraudulent activity, in which one individual is
implicated, whether or not that individual is specifically identified, shall
be treated as one loss. A series of losses involving unidentified individuals
but arising from the same method of operation may be deemed by the
Underwriter to involve the same individual and in that event shall be treated
as one loss.
|
|
|
7.
|
The Limit of Liability for the coverage provided by
this Rider shall be Twenty Three Million Dollars
|
|
|
|
Dollars ($23, 000, 000), it being understood,
however, that such liability shall be a part of and not in addition to the
Limit of Liability stated in Item 3 of the Declarations of the attached bond
or any amendment thereof.
|
|
|
8.
|
The Underwriter shall be liable hereunder for the
amount by which one loss exceeds the Deductible Amount applicable to the
attached bond, but not in excess of the Limit of Liability stated above.
|
|
|
9.
|
If any loss is covered under this Insuring Agreement
and any other Insuring Agreement or Coverage, the maximum amount payable for
such loss shall not exceed the largest amount available under any one
Insuring Agreement or Coverage.
|
|
|
10.
|
Coverage under this Rider shall terminate upon
termination or cancellation of the bond to which this Rider is attached.
Coverage under this Rider may also be terminated or canceled without
canceling the bond as an entirety
|
|
|
|
(a)
|
60 days after receipt by the Insured of written
notice from the Underwriter of its desire to terminate or cancel coverage
under this Rider, or
|
|
|
|
|
|
(b)
|
immediately upon receipt by the Underwriter of a
written request from the Insured to terminate or cancel coverage under this
Rider.
|
|
|
|
|
The Underwriter shall refund to the Insured the
unearned premium for the coverage under this Rider. The refund
shall be computed at short rates if
this Rider be terminated or canceled or reduced by notice from, or at the
instance of, the Insured.
|
|
|
|
Nothing herein contained shall
be held to vary, alter, waive, or extend any of the terms, conditions,
provisions,
agreements or
limitations of the above mentioned Bond or
Policy,
other than as above
stated.
|
|
By
|
|
|
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
Page 2 of 2
ICB011 Ed. 7-04
© 2004 The St. Paul Travelers Companies, Inc. All Right Reserved
ENDORSEMENT OR RIDER NO. 3
THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ IT CAREFULLY.
The
following
spaces
preceded by an
(*)
need
not be
completed
if this endorsement or rider and the Bond
or Policy have
the same
inception date.
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
* EFFECTIVE DATE
OF ENDORSEMENT OR RIDER
12:01
A.M. STANDARD TIME AS SPECIFIED IN
|
|
|
|
|
THE BOND OR
POLICY
|
490PB1610
|
|
07/17/07
|
|
07/01/07
|
* ISSUED TO
CREDIT SUISSE ASSET MANAGEMENT, LLC
Unauthorized Signatures
It is agreed that:
|
|
|
|
|
1.
|
The attached bond is amended by inserting an
additional Insuring Agreement as follows:
|
|
|
|
|
|
INSURING AGREEMENT K UNAUTHORIZED SIGNATURE
|
|
|
|
|
(A)
|
Loss resulting directly from the Insured having
accepted, paid or cashed any check or withdrawal order, draft, made or drawn
on a customer
s account which bears the signature or endorsement
of one other than a person whose name and signature is on the application on
file with the Insured as a signatory on such account.
|
|
|
|
|
(B)
|
It shall be a condition precedent to the Insureds
right of recovery under this Rider that the Insured shall have on file
signatures of all persons who are authorized signatories on such account.
|
|
|
|
2.
|
The total liability of the Underwriter under
Insuring Agreement K is limited to the sum of
|
|
|
|
|
One Hundred thousand
Dollars
($100,000), it being understood, however, that such liability shall be part
of and not in addition to the Limit of Liability stated in Item 3 of the
Declarations of the attached bond or amendment thereof.
|
|
|
3.
|
With respect to coverage afforded under this Rider,
the Deductible Amount shall be
Two Thousand Five Hundred Dollars ($2,500).
|
|
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned
Bond or Policy, other than as above stated.
|
|
|
|
|
|
|
By
|
|
|
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
ICB012 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
ENDORSEMENT
OR RIDER NO. 4
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*)
need not be completed if this endorsement or rider and the Bond or Policy have
the same inception date.
ATTACHED TO AND FORMING PART OF
|
DATE ENDORSEMENT
OR
|
* EFFECTIVE DATE
OF ENDORSEMENT OR RIDER
|
BOND OR POLICY
NO.
|
RIDER EXECUTED
|
12:01
A.M. STANDARD TIME AS
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
|
|
|
490PB1610
|
07/17/07
|
07/01/07
|
*
ISSUED TO
CREDIT
SUISSE
ASSET
MANAGEMENT, LLC
Telefacsimile
Transactions
It is agreed that:
|
|
|
|
|
1.
|
The attached Bond is amended by adding an additional
Insuring Agreement as follows:
|
|
|
|
|
|
INSURING AGREEMENT L TELEFACSIMILE TRANSACTIONS
|
|
|
|
|
|
Loss caused by a Telefacsimile Transaction, where
the request for such Telefacsimile Transaction is unauthorized or fraudulent
and is made with the manifest intent to deceive;
provided,
that the
entity which receives such request generally maintains and follows during the
Bond Period all Designated Fax Procedures with respect to Telefacsimile
Transactions. The isolated failure of such entity to maintain and follow a
particular Designated Fax Procedure in a particular instance will not
preclude coverage under this Insuring Agreement, subject to the exclusions
herein and in the Bond.
|
|
|
|
2.
|
Definitions.
The following terms
used in this Insuring Agreement shall have the following meanings:
|
|
|
|
|
a.
|
Telefacsimile System means a system of
transmitting and reproducing fixed graphic material (as, for example,
printing) by means of signals transmitted over telephone lines.
|
|
|
|
|
b.
|
Telefacsimile Transaction means any Fax
Redemption, Fax Election, Fax Exchange, or Fax Purchase.
|
|
|
|
|
c.
|
Fax Redemption means any redemption of shares
issued by an Investment Company which is requested through a Telefacsimile
System.
|
|
|
|
|
d.
|
Fax Election means any election concerning
dividend options available to Fund shareholders which is requested through a
Telefacsimile System.
|
|
|
|
|
e.
|
Fax Exchange means any exchange of shares in a
registered account of one Fund into shares in an identically registered
account of another Fund in the same complex pursuant to exchange privileges
of the two Funds, which exchange is requested through a Telefacsimile System.
|
|
|
|
|
f.
|
Fax Purchase means any purchase of shares issued
by an Investment Company which is requested through a Telefacsimile System.
|
|
|
|
|
g.
|
Designated Fax Procedures means the following
procedures:
|
|
|
|
|
|
|
(1)
|
Retention:
All Telefacsimile
Transaction requests shall be retained for at least six (6) months. Requests
shall be capable of being retrieved and produced in legible form within a
reasonable time after retrieval is requested.
|
|
|
|
|
|
|
(2)
|
Identity
Test:
The identity of
the sender in any request for a Telefacsimile Transaction shall be tested
before executing that Telefacsimile Transaction,
either by requiring the sender to include on the face of
the request a
unique identification number or to include key specific account information.
Requests of Dealers must be on company letterhead and be signed by an
authorized representative. Transactions by occasional users are to be
verified by telephone confirmation.
|
Page 1 of 2
ICB013 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
|
|
(3)
|
Contents:
A Telefacsimile
Transaction shall not be executed unless the request for such Telefacsimile
Transaction is dated and purports to have been signed by (a) any shareholder
or subscriber to shares issued by a Fund, or (b) any financial or banking
institution or stockbroker.
|
|
|
|
|
|
|
(4)
|
Written
Confirmation:
A
written confirmation of each Telefacsimile Transaction shall be sent to the
shareholder(s) to whose account such Telefacsimile Transaction relates, at
the record address, by the end of the Insureds next regular processing
cycle, but no later than five (5) business days following such Telefacsimile
Transaction.
|
|
|
|
|
|
i.
|
Designated means or refers to a written
designation signed by a shareholder of record of a Fund, either in such
shareholder
s initial application for the purchase of Fund shares,
with or without a Signature Guarantee, or in another document with a
Signature Guarantee.
|
|
|
|
|
j.
|
Signature Guarantee means a written guarantee of a
signature, which guarantee is made by an Eligible Guarantor Institution as
defined in Rule 17Ad-15(a)(2) under the Securities Exchange Act of 1934.
|
|
|
|
|
3.
|
Exclusions.
It
is further
understood and agreed that this Insuring Agreement shall not cover:
|
|
|
|
a.
|
Any loss covered under Insuring Agreement A,
Fidelity, of this Bond;
and
|
|
|
|
|
|
b.
|
Any loss resulting from:
|
|
|
|
|
|
|
(1)
|
Any Fax Redemption, where the proceeds of such
redemption were requested to be paid or made payable to other than (a) the
shareholder of record, or (b) a person Designated in the initial application
or in writing at least one (1) day
prior to such redemption to receive redemption proceeds, or (c) a bank
account Designated in the initial application or in writing at least one (1)
day prior to such redemption to receive redemption proceeds;
or
|
|
|
|
|
|
|
(2)
|
Any Fax Redemption of Fund shares which had been
improperly credited to a shareholders account, where such shareholder (a) did
not cause, directly or indirectly, such shares to be credited to such
account, and (b) directly or indirectly received any proceeds or other
benefit from such redemption;
or
|
|
|
|
|
|
|
(3)
|
Any Fax Redemption from any account, where the
proceeds of such redemption were requested to be sent to any address other
than the record address or another address for such account which was designated
(a) over the telephone or by telefacsimile at least fifteen (15) days prior, to
such redemption,
or
(b) in the initial application
or in writing at least one (1) day prior to such redemption;
or
|
|
|
|
|
|
|
(4)
|
The intentional failure to adhere to one or more
Designated Fax Procedures;
or
|
|
|
|
|
|
|
(5)
|
The failure to pay for shares attempted to be
purchased.
|
|
|
|
|
4.
|
The Single Loss Limit of Liability under Insuring
Agreement L is limited to the sum of
|
|
|
|
|
Twenty
Three Million
Dollars ($23,000,000) it being understood, however, that such liability shall
be part of and not in addition to the Limit of Liability stated in Item 3 of
the Declarations of the attached Bond or amendments thereof.
|
|
|
|
5.
|
With respect to coverage
afforded under this Rider the applicable Single loss Deductible Amount is
Twenty Five Thousand Dollars ($25, 000).
|
|
|
|
Nothing herein contained shall
be held to vary, alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above mentioned Bond or Policy,
other than as above stated.
|
|
By
|
|
|
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
Page 2 of 2
ICB013 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Right Reserved
ENDORSEMENT
OR RIDER NO. 5
THIS ENDORSEMENT CHANGES THE POLICY.
PLEASE
READ IT CAREFULLY.
The
following
spaces preceded
by an (*)
need not
be completed
if this
endorsement or rider and the Bond
or
Policy
have
the
same
inception date.
ATTACHED TO AND FORMING
PART
|
DATE ENDORSEMENT
OR
|
* EFFECTLVE DATE
OF ENDORSEMENT OR RIDER
|
OF BOND OR POLICY NO.
|
RIDER EXECUTED
|
12:01 A.M.
STANDARD TIME AS
|
|
|
SPECIFIED IN THE
BOND OR POLICY
|
|
|
|
490PB1610
|
07/17/07
|
07/01/07
|
* ISSUED TO
CREDIT SUISSE
ASSET
MANAGEMENT, LLC
Voice Initiated Transactions
It is agreed that:
1. The attached bond is amended by inserting
an additional Insuring Agreement as follows:
INSURING AGREEMENT M
- VOICE-INITIATED TRANSACTIONS
Loss
caused by a Voice-initiated Transaction, where the request for such
Voice-initiated Transaction is unauthorized or fraudulent and is made with the
manifest intent to deceive;
provided
, that the entity which receives
such request generally maintains and follows during the Bond Period all
Designated Procedures with respect to Voice-initiated Redemptions and the
Designated Procedures described in paragraph 2f (1) and (3) of this Rider, with
respect to all other Voice-initiated Transactions. The isolated failure of such
entity to maintain and follow a particular Designated Procedure in a particular
instance will not preclude coverage under this Insuring Agreement, subject to
the specific exclusions herein and in the Bond.
2.
Definitions
. The following terms
used in this Insuring Agreement shall have the following meanings:
a.
Voice-initiated Transaction means any
Voice-initiated Redemption, Voice-initiated Election, Voice-initiated Exchange,
or Voice-initiated Purchase.
b.
Voice-initiated Redemption means any
redemption of shares issued by an Investment Company which is requested by
voice over the telephone.
c.
Voice-initiated Election means any election
concerning dividend options available to Fund shareholders which is requested
by voice over the telephone.
d.
Voice-initiated Exchange means any exchange
of shares in a registered account of one Fund into shares in an identically
registered account of another Fund in the same complex pursuant to exchange
privileges of the two Funds, which exchange is requested by voice over the telephone.
e.
Voice-initiated Purchase means any purchase
of shares issued by an Investment Company which is requested by voice over the
telephone.
f.
Designated Procedures means the following
procedures:
(1)
Recor
dings
: All Voice-initiated Transaction requests
shall be recorded, and the recordings shall be retained for at least six (6)
months. Information contained on the recordings shall be capable of being
retrieved and produced within a reasonable time after retrieval of specific
information is requested, at a success rate of no less than 85%.
(2)
Identity
Test
:
The identity of the
caller in any request for a Voice-initiated Redemption shall be tested before
executing that Voice-initiated Redemption, either by requesting the caller to
state a unique identification number or to furnish key specific account
information.
(3)
Written
Confirmation
:
A written confirmation of each Voice-initiated Transaction and of each change
of the record address of a Fund shareholder requested by voice over the telephone
shall be mailed to the shareholder(s) to whose account such Voice-initiated
Transaction or change of address relates, at the original record address (and,
in the case of such change of address, at the changed record address) by the
end of the Insureds next regular processing cycle, but no later than five (5)
business days following such Voice-initiated Transaction or change of address.
Page 1 of 2
ICB014 Ed. 7-04
© 2004 The St.
Paul Travelers Companies, Inc. All Rights Reserved
g.
Investment Company or Fund means an investment
company registered under the Investment Company Act of 1940.
h.
Officially Designated means or refers to a
written designation signed by a shareholder of record of a Fund, either in such
shareholders initial application for the purchase of Fund shares, with or
without a Signature Guarantee, or in another document with a Signature
Guarantee.
i.
Signature Guarantee means a written guarantee of
a signature, which guarantee is made by a financial or banking institution
whose deposits are insured by the Federal Deposit Insurance Corporation or by a
broker which is a member of any national securities exchange registered under
the Securities Exchange Act of 1934.
3.
Exclusions
. It is further
understood and agreed that this Insuring Agreement shall not cover:
a.
Any loss covered under Insuring Agreement A,
Fidelity, of this Bond; and
b.
Any loss resulting from:
(1)
Any
Voice-initiated
Redemption, where the proceeds of such redemption were requested to be paid or
made payable to other than (a) the shareholder of record, or (b) a person
Officially Designated to receive redemption proceeds, or (c) a bank account
Officially Designated to receive redemption proceeds; or
(2)
Any Voice-initiated Redemption of Fund shares which
had been improperly credited to a shareholders account, where such shareholder
(a) did not cause, directly or indirectly, such shares to be credited to such
account, and (b) directly or indirectly received any proceeds or other benefit
from such redemption; or
(3)
Any Voice-initiated Redemption from any account,
where the proceeds of such redemption were requested to be sent (a) to any
address other than the record address for such account, or (b) to a record
address for such account which was either (i) designated over the telephone
fewer than thirty (30) days prior to such redemption, or (ii) designated in
writing less than on (1) day prior to such redemption; or
(4)
The intentional failure to adhere to one or more
Designated Procedures; or
(5)
The failure to pay for shares attempted to be
purchased; or
(6)
Any
Voice-initiated
Transaction requested by voice over the telephone and received by an automated
system which receives and converts such request to executable instructions.
4.
The total liability of the Underwriter under
Insuring Agreement M is limited to the sum of
Twenty Three Million Dollars ($23,000,000),
it being understood, however, that such liability shall be
part of and not in addition to the
Limit of Liability stated in Item 3 of the Declarations of the attached bond or
amendment thereof.
5.
With respect to coverage afforded under this Rider
the applicable Deductible Amount is Twenty Five Thousand Dollars ($25,000).
Nothing herein contained shall be held to
vary, alter, waive, or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned Bond or Policy, other than as
above stated.
By
|
|
|
Authorized
Representative
|
|
|
|
INSURED
|
Page 2 of 2
ICB014 Ed. 7-04
© 2004 The St.
Paul Travelers Companies, Inc. All Right Reserved
ENDORSEMENT OR RIDER NO. 6
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond or
Policy
have the same
inception date
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
* EFFECTIVE DATE
OF ENDORSEMENT OR RIDER
12:01
A.M. STANDARD TIME AS
|
|
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
490PB1610
|
|
07/17/07
|
|
07/01/07
|
* ISSUED TO
CREDIT SUISSE ASSET MANAGEMENT,
LLC
Amend Definition of Employee (Exclude EDP
Coverage for Computer Software or Programs)
It is agreed that:
|
|
|
|
|
1.
|
Sub-section 7 of Section 1(a) in the Definition of
Employee, is deleted and replaced by the following:
|
|
|
|
|
|
(7)
|
each natural person, partnership or corporation
authorized by written agreement with the Insured to perform services as
electronic data processor of checks or other accounting records of the
Insured (does not include the creating, preparing, modifying or maintaining
the Insureds computer software or programs), but excluding any such
processor who acts as transfer agent or in any other agency capacity in
issuing checks, drafts or securities for the Insured, unless included under sub-section
(9) hereof, and
|
|
|
|
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other than as above
stated.
|
|
By
|
|
|
|
Authorized
Representative
|
|
|
|
INSURED
|
ICB015 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO. 7
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond or Policy have the same
inception
date.
ATTACHED TO AND FORMING PART
OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
* EFFECTIVE DATE
OF ENDORSEMENT OR RIDER
12:01
A.M. STANDARD TIME AS
|
|
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
490PB1610
|
|
07/17/07
|
|
07/01/07
|
* ISSUED TO
CREDIT SUISSE ASSET MANAGEMENT,
LLC
Definition of Investment Company
It is agreed that:
|
|
|
|
|
1,
|
Section 1, Definitions,
under General Agreements is amended to include the following paragraph;
|
|
|
|
|
|
|
(f)
|
Investment Company means
an investment company registered under the Investment Company Act of 1940 and
as listed under the names of Insureds on the Declarations.
|
|
|
|
|
Nothing
herein contained shall be held to vary, alter, waive, or extend any
of the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.
|
|
By
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
ICB016 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO. 8
THIS ENDORSEMENT CHANGES THE POLICY, PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond or Policy have the same
inception date.
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
* EFFECTIVE DATE
OF ENDORSEMENT OR RIDER
12:01
A.M. STANDARD TIME AS
|
|
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
490PB1610
|
|
07/17/07
|
|
07/01/07
|
* ISSUED TO
CREDIT SUISSE ASSET MANAGEMENT, LLC
Amend General Agreement A - Newly Created
Investment Companies
It
is agreed that:
|
|
1.
|
General Agreement A. (Additional Offices or
Employees - Consolidation or Merger - Notice) is amended by inserting the
following:
|
|
|
|
(3) Item 1. of the Declarations shall include any
Newly Created Investment Company or portfolio provided that the Insured shall
submit to the Underwriter following the end of the Bond Period, a list of all
Newly Created Investment Companies or portfolios, the estimated assets of
each Newly Created portfolio and copies of any prospectuses and statements of
additional information relating to such Newly Created Investment Companies or
portfolios unless said prospectuses and statements of additional information
have been previously submitted.
|
|
|
|
Following the end of the Bond Period, any Newly
Created Investment Company or portfolio created during the period, will
continue to be an Insured only if the Underwriter is notified as set forth in
this paragraph and the information required herein is provided to the
Underwriter, and the Underwriter acknowledges the addition of such Newly
Created Investment Company or portfolio to the Bond by a Rider to this Bond.
|
|
|
2.
|
It is further agreed that the following definition
is added to Section 1. DEFINITIONS.
|
|
|
|
(
x
)
|
Newly Created Investment Company or portfolio shall
mean any Investment Company or portfolio for which registration with the SEC
has been declared.
|
|
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other than as above
stated.
|
|
By
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
ICB025 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO. 9
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have
the same inception date.
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
*
|
EFFECTIVE DATE OF
ENDORSEMENT OR RIDER
12:01
A.M. STANDARD TIME AS
|
|
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
490PB 1610
|
|
07/17/07
|
|
07/01/07
|
|
|
|
|
|
ISSUED TO
|
|
|
|
|
CREDIT
SUISSE ASSET MANAGEMENT, LLC
Add Exclusions (n)
&
(o)
It is agreed that:
|
|
|
|
|
1.
|
Section 2, Exclusions, under General Agreements, is
amended to include the following sub-sections:
|
|
|
|
|
|
|
(n)
|
loss from the use
of
credit, debit, charge, access,
convenience, identification, cash management or other cards, whether such
cards were issued or purport to have been issued by the Insured or by anyone
else, unless such loss is otherwise covered under Insuring Agreement A.
|
|
|
|
|
|
|
(o)
|
the underwriter shall not be liable under the
attached bond for loss due to liability imposed upon the Insured as a result
of the unlawful disclosure of non-public material information by the Insured
or any Employee, or as a result of any Employee acting upon such information,
whether authorized or unauthorized.
|
Nothing herein contained shall
be held to vary, alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above mentioned Bond or Policy,
other than as above stated.
|
By
|
|
|
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
ICB026 Ed. 7-04
© 2004 The St. Paul Travelers
Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO. 10
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces
proceeded by an (*) need not be completed if this endorsement or rider and the
Bond or Policy have the same inception date.
ATTACHED TO AND FORMING
PART
OF BOND OR POLICY NO.
490PB1610
|
DATE ENDORSEMENT OR
RIDER
EXECUTED
07/7/2007
|
* EFFECTIVE DATE OF
ENDORSEMENT OR RIDER
12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
07/01/2007
|
*ISSUED TO
CREDIT
SUISSE ASSET MANAGEMENT, LLC
Co-Surety Rider
It
is agreed that;
1.
The term Underwriter as used in the attached
Bond shall be construed to mean, unless otherwise specified in this Rider, all
the Companies executing the attached Bond.
2.
Each of said Companies shall be
liable only for such proportion of any Single Loss under the attached Bond as
the amount underwritten by such Company as specified in the Schedule forming a
part hereof, bears to the Limit of Liability of the attached Bond, but in no
event shall any of said Companies be liable for an amount greater than that
underwritten by it.
3.
In the absence of a request from any of said
Companies to pay premiums directly to it, premiums for the attached Bond may be
paid to the Controlling Company for the account of all of said Companies.
4.
In the absence of a request from any of said
Companies that notice of claim and proof of loss be given to or filed directly
with it, the giving of such notice to and the filing of such proof with the
Controlling Company shall be deemed to be in compliance with the conditions of
the attached Bond for the giving of notice of loss and the filing of proof of
loss, if given and filed in accordance with said conditions.
5.
The Controlling Company may give notice in
accordance with the terms of the attached Bond, terminating or canceling the
attached Bond as an entirety or as to any Employee, and any notice so given
shall terminate or cancel the liability of all said Companies as an entirety or
as to such Employee, as the case may be.
6
Any
Company other than the Controlling Company may give notice in accordance with
the terms of the attached Bond, terminating or canceling the entire liability
of such other Company under the attached Bond or as to any Employee.
7.
In the absence of a request from any of said
Companies that notice of termination or cancellation by the Insured of the
attached Bond in its entirety be
given to or filed directly with it, the giving of such notice in accordance
with the terms of the attached Bond to the Controlling Company shall terminate
or cancel the liability of all of said Companies as an entirety. The Insured
may terminate or cancel the entire liability of any Company, other than the
Controlling Company under the attached Bond by giving notice of such termination
or cancellation to such other Company, and shall send copy of such notice to
the Controlling Company.
8.
In the event of the termination or
cancellation of the attached Bond as an entirety, no Company shall be liable to
the Insured for a greater proportion of any return premium due the Insured than
the amount underwritten by such Company bears to the Limit of Liability of the
attached Bond.
9.
In the event of the termination or
cancellation of the attached Bond as to any Company, such Company alone shall
be liable to the Insured for any return premium due the Insured on account of
such termination or cancellation. The termination or cancellation of the
attached Bond as to any Company other than the Controlling Company shall not
terminate, cancel or otherwise affect the liability of the other Companies
under the attached Bond.
Page 1 of 2
ICB042 Ed. 7/04
Underwritten for the
|
|
|
|
|
|
|
|
|
sum of $5,000,000 part of $23,000,000
|
|
|
|
Sub-Limits:
|
|
|
|
|
|
|
|
Audit Expense:
|
|
$
|
5,434
|
|
P/O
|
|
$
|
25,000
|
|
Stop Payment:
|
|
$
|
21,740
|
|
P/O
|
|
$
|
100,000
|
|
Uncollectible Items of
Deposit:
|
|
$
|
21,740
|
|
P/O
|
|
$
|
100,000
|
|
Unauthorized Signature:
|
|
$
|
21,740
|
|
P/O
|
|
$
|
100,000
|
|
|
|
|
|
|
|
|
|
|
|
Controlling Company:
St Paul Fire & Marine
insurance Company
|
|
|
|
By:
|
|
|
Underwritten for the
|
|
|
|
|
|
Sum of $11,000,000 part of $23,000,000
|
|
|
|
|
Sub-Limits:
|
|
|
|
|
|
|
|
Audit Expense:
|
|
$
|
11,957
|
|
P/O
|
|
$
|
100,000
|
|
Stop Payment:
|
|
$
|
47,830
|
|
P/O
|
|
$
|
100,000
|
|
Uncollectible Items of Deposit:
|
|
$
|
47,830
|
|
P/O
|
|
$
|
100,000
|
|
Unauthorized Signature:
|
|
$
|
47,830
|
|
P/O
|
|
$
|
100,000
|
|
|
|
|
|
|
|
|
|
|
Carriers Name:
Continental Casualty Insurance Company
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
|
Underwritten for the
|
|
|
|
|
|
|
Sum of $7,000,000 part of $23,000,000
|
|
|
|
|
|
Sub-Limits:
|
|
|
|
|
|
|
|
Audit Expense:
|
|
$
|
7,608
|
|
P/O
|
|
$
|
100,000
|
|
Stop
Payment:
|
|
$
|
30,430
|
|
P/O
|
|
$
|
100,000
|
|
Uncollectible
Items of Deposit:
|
|
$
|
30,430
|
|
P/O
|
|
$
|
100,000
|
|
Unauthorized
Signatrue:
|
|
$
|
30,430
|
|
P/O
|
|
$
|
100,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Carriers Name:
Great American Insurance Company
|
|
Nothing herein contained shall
be held to vary, alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above mentioned Bond or Policy,
other than as above stated.
|
|
|
|
By:
|
|
|
|
|
|
|
|
Authorized
Representative
|
|
Page 2 of 2
ICB042 Ed. 7/04
ENDORSMENT OR RIDER NO. 11
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE
READ IT CAREFULLY.
The following spaces preceded by an (*) need
not be completed if this endorsement or rider and the Bond or Policy have the
same inception date
.
ATTACHED TO AND FORMING
PART OF
BOND OR POLICY NO.
490PB1610
|
|
DATE ENDORSEMENT OR
RIDER EXECUTED
07/17/07
|
* EFFECTIVE DATE OF
ENDORSEMENT OR RIDER
12:01 A.M. LOCAL TIME AS
SPECIFIED IN THE BOND OR POLICY
07/01/07
|
*ISSUED TO
CREDIT
SUISSE ASSET MANAGEMENT, LLC
New York Statutory Rider
1.
The first paragraph of Section 13.
TERMINATION under Conditions and Limitations is amended by adding the following:
Cancellation of this bond by the Underwriter is subject to the
following provisions:
If the bond has been in effect for 60 days or less, it may be canceled
by the Underwriter for any reason. Such cancellation shall be effective 60 days
after the Underwriter mails a notice of cancellation to the first-named Insured
at the mailing address shown in the bond. However, if the bond has been in
effect for more than 60 days or is a renewal, then cancellation must be based
on one of the followings grounds:
(A)
non-payment of premium however that a notice of
cancellation on this ground shall inform the insured of the amount due;
(B)
conviction of crime arising out of acts
increasing the hazard insured against;
(C)
discovery of fraud or material misrepresentation
in the obtaining of the bond or in the presentation of claim thereunder;
(D)
after issuance of the bond or after the last
renewal date, discovery of an act or omission, or a violation of any bond
condition that substantially and materially increases the hazard Insured
against, and which occurred subsequent to inception of the current bond period;
(E)
material change in the nature or extent of
the risk, occurring after issuance or last annual renewal anniversary date of
the bond, which causes the risk of loss to be substantially and materially
increased beyond that contemplated at the time the bond was issued or last
renewed;
(F)
the cancellation is required pursuant to a
determination by the superintendent that continuation of the present premium
volume of the Insurer would jeopardize the Insurers solvency or be hazardous
to the interest of the Insureds, the Insurers creditors or the public;
(G)
a determination by the superintendent that the
continuation of the bond would violate, or would place the Insurer in violation
of, any provision of the New York State Insurance laws.
(H)
where the Insurer has reason to believe, in
good faith and with sufficient cause, that there is a possible risk or danger
that the Insured property will be destroyed by the Insured for purpose of
collecting the insurance proceeds, provided, however, that:
(i)
a notice of cancellation on this ground
shall inform the Insured in plain language that the Insured must act within ten
days if review by the Insurance Department of the State of New York of the
ground for cancellation is desired, and
(ii)
notice of cancellation on this ground shall
be provided simultaneously by the Insurer to the Insurance Department of the
State of New York.
Page 1 of 2
ICB057 Ed. 4-05
©2005 The St. Paul Travelers Companies, Inc. All Rights Reserved
(iii)
upon written request of the Insured made to the
Insurance Department of the State of New York within ten days from the
Insureds receipt of notice of cancellation on this ground, the department
shall undertake a review of the ground for cancellation to determine whether or
not the Insurer has satisfied the criteria for cancellation specified in this
subparagraph; if after such review the department finds not sufficient cause
for cancellation on this ground, the notice of cancellation on this ground
shall be deemed null and void.
Cancellation based on one of the above grounds shall be effective 60
days after the notice of cancellation is mailed or delivered to the Named
Insured, at the address shown on the bond, and to its authorized agent or
broker.
2.
If the
Underwriter elects not to replace a bond at the termination of the Bond Period,
it shall notify the Insured not more than 120 days nor less than 60 days before
termination. If such notice is given late, the bond shall continue in effect
for 60 days after such notice is given. The Aggregate Limit of Liability shall
not be increased or reinstated. The notice not to replace shall be mailed to
the Insured and its broker or agent.
3.
If the
Underwriter elects to replace the bond, but with a change of limits, reduced
coverage, increased deductible, additional exclusion, or upon increased
premiums in excess of ten percent (exclusive of any premium increase as a
results of experience rating), the Underwriter must mail written notice to the
Insured and its agent or broker not more than 120 days nor less than 60 days
before replacement. If such notice is given late, the replacement bond shall be
in effect with the same terms, conditions and rates as the terminated bond for
60 days after such notice is given.
4
The
Underwriter may elect to simply notify the Insured that the bond will either be
not renewed or renewed with different terms, conditions or rates. In this
event, the Underwriter will inform the Insured that a second notice will be
sent at a later date specifying the Underwriters exact intention. The
Underwriter shall inform the Insured that, in the meantime, coverage shall
continue on the same terms, conditions and rates as the expiring bond until the
expiration date of the bond or 60 days after the second notice is mailed or
delivered, whichever is later.
Nothing herein contained shall be held to vary, alter, waive, or extend
any of the terms, conditions, provisions, agreements or limitations of the
above mentioned Bond or Policy, other than as above stated.
|
By
|
|
|
|
Authorized Representative
|
Page 2 of 2
INSURED
ICB057 Ed. 4-05
©2005 The St. Paul Travelers Companies, Inc. All Rights Reserved
The following spaces preceded by an (*) need
not be completed if this endorsement or rider and the Bond or Policy have the
same inception date.
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
*
EFFECTIVE DATE OF ENDORSEMENT OR RIDER
12:01 A.M. LOCAL TIME AS
|
|
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
490PB1160
|
|
07/17/07
|
|
07/01/07
|
* ISSUED TO
CREDIT
SUISSE ASSET MANAGEMENT, LLC
AMEND
DEFINITION OF EMPLOYEE
MEL1657
Ed. 7-04 - For use with
ICBB Ed. 7-04
It is agreed that:
|
|
|
|
|
1.
|
Section 1.(a) Definitions, sub-section 9 (a) and (b)
are deleted and replaced with the following:
|
|
|
|
|
|
|
(a)
|
An investment advisor, including Credit Suisse Asset
Management Advisor to Credit Suisse Management LLC Funds, and/or any
sub-advisor,
|
|
|
|
|
|
|
(b)
|
An administrator, or sub-administrator authorized by
written agreement to keep financial and/or required records,
|
|
|
|
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other than as above
stated.
|
|
|
|
|
|
|
By
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
© 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
The
following spaces preceded by an (*) need not be completed if this endorsement
or rider and the Bond or Policy have the same inception date.
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
|
|
DATE ENDORSEMENT
OR
RIDER EXECUTED
|
|
*
EFFECTIVE DATE OF ENDORSEMENT OR RIDER
12:01 A.M. LOCAL TIME AS
|
|
|
|
|
SPECIFIED
IN THE BOND OR POLICY
|
490PB1610
|
|
07/17/07
|
|
07/01/07
|
* ISSUED TO
CREDIT
SUISSE ASSET MANAGEMENT, LLC
AMEND
SECTION 13. - TERMINATION AS TO ANY EMPLOYEE
MEL3274 Ed. 7-05
For use with ICB005 Ed. 7-04
It is agreed that:
|
|
|
1.
|
Sub-sections (a), (b) & (c) of Section 13.
TERMINATION under CONDITIONS AND LIMITATIONS, are deleted in their entirety,
and the following is substituted in lieu thereof:
|
|
|
|
Upon the detection by any Insured that such Employee
has committed any dishonest or fraudulent act(s) or theft, the Insured shall
immediately remove such Employee from a position that may enable such
Employee to cause the Insured to suffer a loss by any subsequent dishonest or
fraudulent acts) or theft. The Insured, within forty-eight (48) hours of such
detection, shall notify the Underwriter with full and complete particulars of
the detected dishonest or fraudulent act(s) or theft.
|
|
|
|
For purposes of this section, detection occurs when
any partner, officer, or supervisory Employee of any Insured, who is not in
collusion with such (detected) Employee, becomes aware that the (detected)
Employee has committed any dishonest or fraudulent act(s) or theft.
|
|
|
|
This Bond shall terminate as to any Employee by
written notice to each Insured and to the Securities and Exchange Commission
from the Underwriter of not less than sixty (60) days prior to the effective
date of termination specified in such notice.
|
|
|
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other than as above
stated.
|
|
By
|
|
|
|
Authorized
Representative
|
|
INSURED
|
|
© 2005 The St. Paul Travelers
Companies, Inc. All Rights Reserved
Credit Suisse Asset Management Income Fund, Inc.
Credit Suisse High Yield Bond Fund
The Chile Fund, Inc.
The Emerging Markets Telecommunications Fund, Inc.
The First Israel Fund, Inc.
The Indonesia Fund, Inc.
The Latin America Equity Fund, Inc.
PROPOSED RESOLUTIONS: All Funds
Annual Review
and Approval of Fidelity Bond Coverage
RESOLVED, that it is the finding of the Directors/Trustees of each Fund
that the amount of the fidelity bond written by Gulf Insurance Company (the
Bond) covering, among others, officers and employees of the Funds, in
accordance with the requirements of Rule 17g-1 promulgated by the SEC under
Section 17(g) of the 1940 Act, be $23 million, plus such additional amounts as
required for any new investment companies (or portfolios thereof) added to the
Bond or as otherwise required under the 1940 Act, is reasonable in form and
amount after having given due consideration to, among other things, the value
of the aggregate assets of the Funds to which any person covered under the Bond
may have access, the type and terms of the arrangements made for the custody
and safekeeping of the Funds assets, the nature of the securities in the
Funds portfolios, the number of other parties named as insured parties under the Bond and the nature of the
business activities of the other parties; and be it further
RESOLVED, that the
estimated premium to be paid by each Fund under the Bond be, and hereby is,
approved by vote of a majority of the Board of Directors/Trustees of a Fund
(all Directors/Trustees voting) and separately by a majority of the
non-interested Directors/Trustees, after having given due consideration to,
among other things, the number of other parties insured under the Bond, the
nature of business activities of those other parties, the amount of the Bond
and the extent to which the share of the premium allocated to a Fund under the
Bond is less than the premium the Fund would have had to pay had it maintained
a single insured bond; and be it further
RESOLVED, that the
Bond be, and hereby is, approved by vote of a majority of the Board of
Directors/Trustees of each Fund (all Directors/Trustees voting) and separately
by the non-interested Directors/Trustees; and be it further
RESOLVED, that the
officers of each Fund be, and each hereby is, authorized and directed to enter into an agreement, as required
by
paragraph (f) of
the Rule promulgated by the SEC under the 1940 Act, with the other named
insureds under the Bond providing that in the event any recovery is received
under the Bond as a result of a loss sustained by the Fund and also by one or
more of the other named insureds, the Fund shall receive an equitable and
proportionate share of the recovery, but in no event less than the amount it
would have received had it provided and maintained a single insured bond with
the minimum coverage required by paragraph (d)(1) of the Rule; and be it
further
RESOLVED, that the
appropriate officers of each Fund be, and they hereby are, authorized and
directed to prepare, execute, and file such amendments and supplements to the
aforesaid agreement, and to take such other action as may be necessary or appropriate in order to conform to the
provisions of the 1940 Act, and the rules and regulations thereunder; and be it
further
RESOLVED, that the
Secretary of each Fund shall file the Bond with the SEC and give the notices
required under paragraph (g) of the Rule.
Resolutions for All
Funds on Appendix A
PROPOSED RESOLUTIONS: All Funds
Annual Review and Approval of Fidelity Bond
Coverage
RESOLVED,
that it is the finding of the Directors or Trustees of the Funds, as the case
may be, that the amount of the fidelity bond written by Gulf Insurance Company
(the Bond) covering, among others, officers and employees of the Funds, in
accordance with the requirements of Rule 17g-1 promulgated by the SEC under
Section 17(g) of the 1940 Act, be $23 million, plus such additional amounts as
required for any new investment companies (or portfolios thereof) added to the
Bond or as otherwise required under the 1940 Act, is reasonable in form and
amount after having given due consideration to, among other things, the value
of the aggregate assets of the Funds to which any person covered under the Bond
may have access, the type and terms of the arrangements made for the custody
and safekeeping of the Funds assets, the nature of the securities in the
Funds portfolios, the number of other parties named as insured parties under
the Bond and the nature of the business activities of the other parties; and
further
RESOLVED,
that the estimated premium to be paid by each Fund under the Bond be, and
hereby is, approved by vote of a majority of the Board of Directors or Trustees
of a Fund (all Directors or Trustees voting) and separately by a majority of
the non-interested Directors or Trustees, after having given due
consideration to, among other things, the number of other parties insured under
the Bond, the nature of business activities of those other parties, the amount
of the Bond and the extent to which the share of the premium allocated to a
Fund under the Bond is less than the premium the Fund would have had to pay had
it maintained a single insured bond; and further
RESOLVED,
that the Bond be, and hereby is, approved by vote of a majority of the Board of
Directors or Trustees of each Fund (all Directors or Trustees voting) and
separately by the non-interested Directors or Trustees; and further
RESOLVED,
that the officers of each Fund be, and each hereby is, authorized and directed
to enter into an agreement, as required by paragraph (f) of the Rule
promulgated by the SEC under the 1940 Act, with the other named insureds under
the Bond providing that in the event any recovery is received under the Bond as
a result of a loss sustained by the Funds and also by one or more of the other
named insureds, the Funds shall receive an equitable and proportionate share of
the
recovery, but in no event less than the amount it would have received had it
provided and maintained a single insured bond with the minimum coverage
required by paragraph (d)(1) of the Rule; and further
RESOLVED,
that the appropriate officers of each Fund be, and they hereby are, authorized
and directed to prepare, execute, and file such amendments and supplements to
the aforesaid agreement, and to take such other action as may be necessary or
appropriate in order to conform to the provisions of the 1940 Act, and the
rules and regulations thereunder; and further
RESOLVED,
that the Secretary of each Fund shall file the Bond with the SEC and give the
notices required under paragraph (g) of the Rule.
Appendix
A
Credit Suisse Large Cap Growth Fund (formerly known as
Credit Suisse Capital Appreciation Fund)
Credit Suisse Capital Funds
Credit Suisse Absolute Return Fund
Credit Suisse Large Cap Value Fund
Credit Suisse Small Cap Core Fund (formerly know as
Credit Suisse Small Cap Value Fund)
Credit Suisse Cash Reserve Fund, Inc.
Credit Suisse Commodity Return Strategy Fund
Credit Suisse Emerging Markets Fund, Inc.
Credit Suisse Global Fixed Income Fund, Inc.
Credit Suisse Global High Yield Fund, Inc.
Credit Suisse Global Small Cap Fund, Inc.
Credit Suisse Institutional Fund, Inc.
Asia Bond
Portfolio
International Focus Portfolio
Credit Suisse Institutional Money Market Fund, Inc.
Government
Portfolio
Prime Portfolio
Credit Suisse International Focus Fund, Inc.
Credit Suisse Japan Equity Fund, Inc.
Credit Suisse Mid-Cap Core Fund, Inc. (formerly known
as Credit Suisse Mid-Cap Growth Fund, Inc.)
Credit Suisse Opportunity Funds
Credit Suisse High Income Fund
Credit Suisse Large Cap Blend Fund, Inc.
Credit Suisse Short Duration Bond Fund
Credit Suisse Trust
Blue Chip Portfolio
Commodity Return Strategy Portfolio
Emerging Markets
Portfolio
Global Small Cap
Portfolio
International
Focus Portfolio
Large Cap Value
Portfolio
Mid-Cap Core
Portfolio (formerly known as Mid-Cap Growth Portfolio)
Small Cap Core I
Portfolio (formerly known as Small Cap Growth Portfolio)
AMENDED AND RESTATED
AGREEMENT CONCERNING ALLOCATION OF
FIDELITY BOND PREMIUMS AND RECOVERIES
Amended and Restated Agreement dated the 1st day of July, 2007 among
each Fund listed on Schedule A (collectively, the Funds).
WHEREAS, each Fund is a named insured under a fidelity bond (the
Bond) written by Gulf Insurance Company (the Insurer) in the amount of $23
million; and
WHEREAS, the Funds desire to enter into an agreement pursuant to Rule
17g-1(f) under the Investment Company Act of 1940, as amended (the 1940
Act);
NOW, THEREFORE, the Funds do hereby agree as follows:
1. The premium payable on the Bond by
each Fund shall be allocated in proportion to each Funds average net assets.
2. In the event that recovery is
received under the Bond as a result of a loss sustained by a Fund and one or
more other Funds, such Fund shall receive a share of the recovery at least
equal to the amount which it would have received had it provided and maintained
a separate fidelity bond under Rule 17g-1(d) under the 1940 Act (Separate
Bond).
3. In the event that the claims of
loss of the Funds are so related that the Insurer is entitled to assert that
the claims must be aggregated with the results that the total amount payable on
such claims is limited to the face amount of the Bond, the following rules for
determining the priorities among the Funds for satisfaction of the claims under
the Bond shall apply:
A. First,
all claims of each Fund which have been duly proven and established under the
Bond shall be satisfied up to the minimum amount of a Separate Bond for such
Fund; and
B. Second,
the remaining amount of insurance, if any, shall then be applied to the claims
of the Funds in proportion to the total of the unsatisfied amount of the claims
of each Fund.
4. If the Funds investment adviser,
distributor or an affiliate of either in the future serves as investment
adviser, sub-investment adviser, administrator or distributor to any
other investment company (an Additional Fund), and if the Insurer is willing to
add the Additional Fund as a named insured under the Bond, such Additional Fund
shall become subject to this Agreement upon addition to the Bond and notice of
such addition shall be given to each of the Funds hereunder;
provided
,
however, that the amount of the Bond is increased by an amount not less than
the minimum amount which would have been required for the Additional Fund to
obtain under Rule 17g-1(d) under the 1940 Act.
5. Attached hereto as Schedule B is a
list of the assets of each of the Funds as of the end of the respective Funds
last fiscal quarter, together with an indication of the minimum bond
that would be provided
and maintained under Rule 17g-1(d) under the 1940 Act for a fund with
assets of that amount.
IN WITNESS WHEREOF, each Fund has caused this Agreement to be executed
by one of its officers thereunto duly authorized as of the date first above
written.
|
|
THE FUNDS LISTED ON SCHEDULE A
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ J. Kevin Gao
|
|
|
|
|
Name: J. Kevin Gao
|
|
|
|
|
Title: Secretary
|
|
|
|
|
|
|
|
Schedule A
Credit Suisse Large Cap Growth Fund (formerly known as
Credit Suisse Capital Appreciation Fund)
Credit Suisse Capital Funds
Credit Suisse Absolute Return Fund
Credit Suisse Large Cap Value Fund
Credit Suisse Small Cap Core Fund (formerly know as
Credit Suisse Small Cap Value Fund)
Credit Suisse Cash Reserve Fund, Inc.
Credit Suisse Commodity Return Strategy Fund
Credit Suisse Emerging Markets Fund, Inc.
Credit Suisse Global Fixed Income Fund, Inc.
Credit Suisse Global High Yield Fund, Inc.
Credit Suisse Global Small Cap Fund, Inc.
Credit Suisse Institutional Fund, Inc.
Asia Bond
Portfolio
International Focus Portfolio
Credit Suisse Institutional Money Market Fund, Inc.
Government
Portfolio
Prime Portfolio
Credit Suisse International Focus Fund, Inc.
Credit Suisse Japan Equity Fund, Inc.
Credit Suisse Mid-Cap Core Fund, Inc. (formerly known
as Credit Suisse Mid-Cap Growth Fund, Inc.)
Credit Suisse Opportunity Funds
Credit Suisse High Income Fund
Credit Suisse Large Cap Blend Fund, Inc.
Credit Suisse Short Duration Bond Fund
Credit Suisse Trust
Blue Chip Portfolio
Commodity Return Strategy Portfolio
Emerging Markets
Portfolio
Global Small Cap
Portfolio
International
Focus Portfolio
Large Cap Value
Portfolio
Mid-Cap Core
Portfolio (formerly known as Mid-Cap Growth Portfolio)
Small Cap Core I
Portfolio (formerly known as Small Cap Growth Portfolio)
Credit Suisse Asset
Management Income Fund, Inc.
The Chile Fund, Inc.
The Emerging Markets
Telecommunications Fund, Inc.
The First Israel Fund,
Inc.
The Indonesia Fund, Inc.
The Latin America Equity
Fund, Inc.
Credit Suisse High Yield Bond Fund
Schedule B
INSURED BOND
ANALYSIS
Fidelity Bond Coverage Requirements
3/31/2007
|
|
Gross Assets
as of
Fiscal
Quarter End
|
|
Insurance
Amount
|
|
|
|
|
|
Open-end Funds
|
|
|
|
|
|
|
|
|
|
Credit Suisse Absolute Return Fund
|
|
10,202,988.32
|
|
200,000.00
|
|
|
|
|
|
Credit Suisse Large Cap Growth Fund
|
|
123,552,534.36
|
|
525,000.00
|
|
Up to 500,000
|
|
50,000.00
|
|
|
Credit Suisse Cash Reserve Fund
|
|
536,837,345.30
|
|
900,000.00
|
|
500,000 to 1,000,000
|
|
75,000.00
|
|
|
Credit Suisse Commodity Return Strategy Fund
|
|
502,055,755.83
|
|
900,000.00
|
|
1,000,000 to 2,500,000
|
|
100,000.00
|
|
|
Credit Suisse Mid-Cap Core Fund
|
|
212,729,507.39
|
|
600,000.00
|
|
2,500,000 to 5,000,000
|
|
125,000.00
|
|
|
Credit Suisse Emerging Markets Fund
|
|
37,278,549.69
|
|
350,000.00
|
|
5,000,000 to 7,500,000
|
|
150,000.00
|
|
|
Credit Suisse Global Fixed Income Fund
|
|
91,260,908.68
|
|
450,000.00
|
|
7,500,000 to 10,000,000
|
|
175,000.00
|
|
|
Credit Suisse Global Small Cap Fund
|
|
129,506,698.34
|
|
525,000.00
|
|
10,000,000 to 15,000,000
|
|
200,000.00
|
|
|
Credit Suisse High Income Fund
|
|
113,513,480.55
|
|
525,000.00
|
|
15,000,000 to 20,000,000
|
|
225,000.00
|
|
|
Credit Suisse Institutional Fund, Inc.
|
|
|
|
|
|
20,000,000 to 25,000,000
|
|
250,000.00
|
|
|
International
Focus Portfolio
|
|
29,737,429.36
|
|
300,000.00
|
|
25,000,000 to 35,000,000
|
|
300,000.00
|
|
|
Asia Bond
Portfolio*
|
|
300,120,000.00
|
|
750,000.00
|
|
35,000,000 to 50,000,000
|
|
350,000.00
|
|
|
Credit Suisse Global High Yield Fund
|
|
38,870,002.56
|
|
350,000.00
|
|
50,000,000 to 75,000,000
|
|
400,000.00
|
|
|
Credit Suisse Institutional Money Market Fund
|
|
|
|
|
|
75,000,000 to 100,000,000
|
|
450,000.00
|
|
|
Government
Portfolio
|
|
73,473,798.92
|
|
450,000.00
|
|
100,000,000 to 150,000,000
|
|
525,000.00
|
|
|
Prime Portfolio
|
|
18,139,875,289.09
|
|
2,500,000.00
|
|
150,000,000 to 250,000,000
|
|
600,000.00
|
|
|
Credit Suisse International Focus Fund
|
|
254,520,974.41
|
|
750,000.00
|
|
250,000,000 to 500,000,000
|
|
750,000.00
|
|
|
Credit Suisse Japan Equity Fund
|
|
52,053,519.38
|
|
400,000.00
|
|
500,000,000 to 750,000,000
|
|
900,000.00
|
|
|
Credit Suisse Large Cap Value Fund
|
|
323,904,429.25
|
|
750,000.00
|
|
750,000,000 to 1,000,000,000
|
|
1,000,000.00
|
|
|
Credit Suisse Large Cap Blend Fund
|
|
57,207,074.53
|
|
400,000.00
|
|
1,000,000,000 to 1,500,000,000
|
|
1,250,000.00
|
|
|
Credit Suisse Short Duration Bond Fund
|
|
29,352,704.01
|
|
300,000.00
|
|
1,500,000,000 to 2,000,000,000
|
|
1,500,000.00
|
|
|
Credit Suisse Small Cap Core Fund
|
|
301,556,279.56
|
|
750,000.00
|
|
Over 2,000,000,000
|
|
1,500,000
plus 200,000 for each 500,000,000
|
|
Credit Suisse Trust
|
|
|
|
|
|
|
|
of gross
assets up to a max bond of 2,500,000
|
|
Blue Chip
Portfolio
|
|
11,594,370.00
|
|
200,000.00
|
|
|
|
|
|
Mid-Cap Core
Portfolio
|
|
29,616,100.52
|
|
300,000.00
|
|
|
|
|
|
Emerging Markets
Portfolio
|
|
239,861,987.51
|
|
600,000.00
|
|
|
|
|
|
International
Focus Portfolio
|
|
92,638,927.86
|
|
450,000.00
|
|
|
|
|
|
Global Small Cap
Portfolio
|
|
118,301,420.67
|
|
525,000.00
|
|
|
|
|
|
Large Cap Value
Portfolio
|
|
54,992,011.20
|
|
400,000.00
|
|
|
|
|
|
Small Cap Core I
|
|
391,303,074.82
|
|
750,000.00
|
|
|
|
|
|
Commodity Return
Strategy
|
|
200,746,592.73
|
|
600,000.00
|
|
|
|
|
|
Sub-total
|
|
22,496,663,754.84
|
|
16,500,000.00
|
|
|
|
|
|
* Portfolio will commence on May 1, 2007
Closed-end Funds
|
|
|
|
|
|
|
|
|
|
Credit Suisse Asset Management Income Fund
|
|
234,607,293.35
|
|
600,000.00
|
|
|
|
|
|
Credit Suisse High Yield Bond Fund
|
|
356,297,846.96
|
|
750,000.00
|
|
|
|
|
|
The Chile Fund
|
|
191,455,183.28
|
|
600,000.00
|
|
|
|
|
|
The Emerging Markets Telecom
|
|
171,507,155.00
|
|
600,000.00
|
|
|
|
|
|
The First Israel Fund
|
|
83,035,977.82
|
|
450,000.00
|
|
|
|
|
|
The Indonesia Fund
|
|
76,337,488.25
|
|
450,000.00
|
|
|
|
|
|
The Latin America Equity Fund
|
|
318,487,260.01
|
|
750,000.00
|
|
|
|
|
|
Sub-total
|
|
1,431,728,204.67
|
|
4,200,000.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
23,928,391,959.51
|
|
20,700,000.00
|
|
|
|
|
|
Credit Suisse High Yield (AMEX:DHY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Credit Suisse High Yield (AMEX:DHY)
Historical Stock Chart
From Aug 2023 to Aug 2024