Additional Distribution Policy Information

The Fund has adopted a managed distribution policy (the Policy) which permits the Fund to make quarterly distributions at a rate set by the Board of Trustees of the Fund. Under the Policy, to the extent that sufficient investment income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution level. You should not draw any conclusions about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Policy. The Board of the Fund may amend the terms of the Policy or terminate the Policy at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Policy could have an adverse effect on the market price of the Fund’s common shares. The Policy is subject to periodic review by the Board. With each distribution that does not consist solely of net investment income, the Fund will issue a notice to shareholders and an accompanying press release which will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to shareholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. The Fund may at times distribute more than its net investment income and net realized capital gains; therefore, a portion of the distribution may result in a return of capital. A return of capital may occur, for example, when some or all of the money that shareholders invested in the Fund is paid back to them. A return of capital does not necessarily reflect a Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to make the level of distributions called for under the Policy, the Fund may have to sell portfolio securities at a less than opportune time. For estimated source information for distributions paid in prior periods, please see the 19(a) Distribution Notices section.