The Fund announced today that the Fund’s Board of Directors has approved certain changes to the Fund’s 80% investment policy and related investment strategy disclosure. The changes will be effective October 1, 2026 (the “Effective Time”).
At the Effective Time, the existing 80% policy will be replaced with the following new policy: Under normal circumstances, at least 80% of the Fund’s net assets will be invested in common stock or other securities issued by Portfolio Funds which are listed on a U.S. or non-U.S. securities exchange.
Additionally, at the Effective Time, the Fund’s disclosure will be revised to define “Portfolio Fund” as any closed-end pooled investment vehicle and state that the Fund will consider an investment vehicle to be “closed-end” if it does not offer a daily redemption or repurchase right. As a result of these changes, the Fund will have more flexibility under its 80% policy to invest in a broad range of U.S. and non-U.S. investment vehicles, including vehicles that are not registered under the Investment Company Act of 1940.
