ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington, DC 20005
INVESTMENT COMPANY BLANKET BOND
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington, DC 20005
DECLARATIONS
NOTICE
This policy is issued by your risk retention group. Your risk retention group may not be subject
to all of the insurance laws and regulations of your state. State insurance insolvency guaranty
funds are not available for your risk retention group.
|
|
|
|
|
Item 1.
|
|
Name of Insured (the Insured)
|
|
Bond Number
|
|
|
Van Kampen Investments Inc.
|
|
87096109B
|
|
|
|
|
|
|
|
Principal Office:
|
|
522 Fifth Avenue
|
|
|
|
|
New York, NY 10036
|
|
|
|
|
|
|
|
Mailing Address:
|
|
c/o Risk and Insurance Management Department
|
|
|
|
|
1633 Broadway, 25
th
Floor
|
|
|
|
|
New York, NY 10019
|
|
|
|
Item 2.
|
|
Bond Period: from 12:01 a.m. on June 5, 2009 , to 12:01 a.m. on June 5, 2010 or
the earlier effective date of the termination of this Bond, standard time at the Principal
Office as to each of said dates.
|
|
|
|
Item 3.
|
|
Limit of Liability (Subject to Sections 9, 10 and 12 hereof):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIMIT OF
|
|
|
DEDUCTIBLE
|
|
|
|
|
|
LIABILITY
|
|
|
AMOUNT
|
|
Insuring Agreement A
|
|
FIDELITY
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
Insuring Agreement B
|
|
AUDIT EXPENSE
|
|
$
|
50,000
|
|
|
$
|
10,000
|
|
Insuring Agreement C
|
|
ON PREMISES
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
Insuring Agreement D
|
|
IN TRANSIT
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
Insuring Agreement E
|
|
FORGERY OR ALTERATION
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
Insuring Agreement F
|
|
SECURITIES
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
Insuring Agreement G
|
|
COUNTERFEIT CURRENCY
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
Insuring Agreement H
|
|
UNCOLLECTIBLE ITEMS OF DEPOSIT
|
|
$
|
25,000
|
|
|
$
|
5,000
|
|
Insuring Agreement I
|
|
PHONE/ELECTRONIC TRANSACTIONS
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
If Not Covered is inserted opposite any Insuring Agreement above,
such Insuring Agreement
and any reference thereto shall be deemed to be deleted from this
Bond.
|
|
|
|
|
|
|
|
|
|
|
|
OPTIONAL
INSURING AGREEMENTS ADDED BY RIDER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insuring
Agreement J
|
|
COMPUTER SECURITY
|
|
$
|
45,000,000
|
|
|
$
|
500,000
|
|
|
|
|
Item 4.
|
|
Offices or Premises CoveredAll the Insureds offices or other premises in existence at
the time this Bond becomes effective are covered under this Bond, except the offices or other
premises excluded by Rider. Offices or other premises acquired or established after the
effective date of this Bond are covered subject to the terms of General Agreement A.
|
|
|
|
Item 5.
|
|
The liability of ICI Mutual Insurance Company, a Risk Retention Group (the Underwriter)
is subject to the terms of the following Riders attached hereto:
|
|
|
|
|
|
Riders: 1-2-3-4-5-6-7-8-9-10-11-12-13-14
|
|
|
|
|
|
and of all Riders applicable to this Bond issued during the Bond Period.
|
|
|
|
|
|
|
|
|
|
By:
|
/S/ Maggie Sullivan
|
|
|
|
Authorized Representative
|
|
|
|
|
|
|
INVESTMENT COMPANY BLANKET BOND
NOTICE
This policy is issued by your risk retention group. Your risk retention group may not be subject
to all of the insurance laws and regulations of your state. State insurance insolvency guaranty
funds are not available for your risk retention group.
ICI Mutual Insurance Company, a Risk Retention Group (the Underwriter), in consideration of an
agreed premium, and in reliance upon the Application and all other information furnished to the
Underwriter by the Insured, and subject to and in accordance with the Declarations, General
Agreements, Provisions, Conditions and Limitations and other terms of this bond (including all
riders hereto) (Bond), to the extent of the Limit of Liability and subject to the Deductible
Amount, agrees to indemnify the Insured for the loss, as described in the Insuring Agreements,
sustained by the Insured at any time but discovered during the Bond Period.
INSURING AGREEMENTS
A.
|
|
FIDELITY
|
|
|
|
Loss caused by any Dishonest or Fraudulent Act or Theft committed by an Employee anywhere, alone
or in collusion with other persons (whether or not Employees), during the time such Employee has
the status of an Employee as defined herein, and even if such loss is not discovered until after
he or she ceases to be an Employee, EXCLUDING loss covered under Insuring Agreement B.
|
|
B.
|
|
AUDIT EXPENSE
|
|
|
|
Expense incurred by the Insured for that part of audits or examinations required by any
governmental regulatory authority or Self Regulatory Organization to be conducted by such
authority or Organization or by an independent accountant or other person, by reason of the
discovery of loss sustained by the Insured and covered by this Bond.
|
|
C.
|
|
ON PREMISES
|
|
|
|
Loss resulting from Property that is (1) located or reasonably believed by the Insured to be
located within the Insureds offices or premises, and (2) the object of Theft, Dishonest or
Fraudulent Act, or Mysterious Disappearance, EXCLUDING loss covered under Insuring Agreement A.
|
|
D.
|
|
IN TRANSIT
|
|
|
|
Loss resulting from Property that is (1) in transit in the custody of any person authorized by
an Insured to act as a messenger, except while in the mail or with a carrier for hire (other
than a Security Company), and (2) the object of Theft, Dishonest or Fraudulent Act, or
Mysterious Disappearance, EXCLUDING loss covered under Insuring Agreement A. Property is in
transit beginning immediately upon receipt of such Property by the transporting person and
ending immediately upon delivery at the specified destination.
|
|
E.
|
|
FORGERY OR ALTERATION
|
|
|
|
Loss caused by the Forgery or Alteration of or on (1) any bills of exchange, checks, drafts, or
other written orders or directions to pay certain sums in money, acceptances, certificates of
deposit, due bills, money orders, or letters of credit; or (2) other written instructions,
requests or applications to the Insured, authorizing or acknowledging the transfer, payment,
redemption, delivery or receipt of Property, or giving notice of any bank account, which
instructions or requests or applications purport to have been signed or endorsed by (a) any
customer of the Insured, or (b) any shareholder of or subscriber
to shares issued by any Investment Company, or (c) any financial or banking institution or
stockbroker;
|
2
|
|
or (3) withdrawal orders or receipts for the withdrawal of 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. This Insuring Agreement E does not
cover loss caused by Forgery or Alteration of Securities or loss covered under Insuring
Agreement A.
|
|
F.
|
|
SECURITIES
|
|
|
|
Loss resulting from the Insured, in good faith, in the ordinary course of business, and in any
capacity whatsoever, whether for its own account or for the account of others, having acquired,
accepted or received, or sold or delivered, or given any value, extended any credit or assumed
any liability on the faith of any Securities, where such loss results from the fact that such
Securities (1) were Counterfeit, or (2) were lost or stolen, or (3) contain a Forgery or
Alteration, and notwithstanding whether or not the act of the Insured causing such loss violated
the constitution, by-laws, rules or regulations of any Self Regulatory Organization, whether or
not the Insured was a member thereof, EXCLUDING loss covered under Insuring Agreement A.
|
|
G.
|
|
COUNTERFEIT CURRENCY
|
|
|
|
Loss caused by the Insured in good faith having received or accepted (1) any money orders which
prove to be Counterfeit or to contain an Alteration or (2) paper currencies or coin of the
United States of America or Canada which prove to be Counterfeit. This Insuring Agreement G
does not cover loss covered under Insuring Agreement A.
|
|
H.
|
|
UNCOLLECTIBLE ITEMS OF DEPOSIT
|
|
|
|
Loss resulting from the payment of dividends, issuance of Fund shares or redemptions or
exchanges permitted from an account with the Fund as a consequence of
|
|
(1)
|
|
uncollectible Items of Deposit of a Funds customer, shareholder or subscriber
credited by the Insured or its agent to such persons Fund account, or
|
|
|
(2)
|
|
any Item of Deposit processed through an automated clearing house which is
reversed by a Funds customer, shareholder or subscriber and is deemed uncollectible by
the Insured;
|
|
|
PROVIDED, that (a) Items of Deposit shall not be deemed uncollectible until the Insureds
collection procedures have failed, (b) exchanges of shares between Funds with exchange
privileges shall be covered hereunder only if all such Funds are insured by the Underwriter for
uncollectible Items of Deposit, and (c) the Insured Fund shall have implemented and maintained a
policy to hold Items of Deposit for the minimum number of days stated in its Application (as
amended from time to time) before paying any dividend or permitting any withdrawal with respect
to such Items of Deposit (other than exchanges between Funds). Regardless of the number of
transactions between Funds in an exchange program, the minimum number of days an Item of Deposit
must be held shall begin from the date the Item of Deposit was first credited to any Insured
Fund.
|
|
|
|
This Insuring Agreement H does not cover loss covered under Insuring Agreement A.
|
|
I.
|
|
PHONE/ELECTRONIC TRANSACTIONS
|
|
|
|
Loss caused by a Phone/Electronic Transaction, where the request for such Phone/Electronic
Transaction:
|
3
|
(1)
|
|
is transmitted to the Insured or its agents by voice over the telephone or by
Electronic Transmission; and
|
|
|
(2)
|
|
is made by an individual purporting to be a Fund shareholder or subscriber or an
authorized agent of a Fund shareholder or subscriber; and
|
|
|
(3)
|
|
is unauthorized or fraudulent and is made with the manifest intent to deceive;
|
PROVIDED, that the entity receiving such request generally maintains and follows during the Bond
Period all Phone/Electronic Transaction Security Procedures with respect to all Phone/Electronic
Transactions; and
EXCLUDING loss resulting from:
|
(1)
|
|
the failure to pay for shares attempted to be purchased; or
|
|
|
(2)
|
|
any redemption of Investment Company 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 redemption of shares issued by an Investment Company where the proceeds of such
redemption were requested to be paid or made payable to other than (a) the Shareholder of
Record, or (b) any other person or bank account designated to receive redemption proceeds
(i) in the initial account application, or (ii) in writing (not to include Electronic
Transmission) accompanied by a signature guarantee; or
|
|
|
(4)
|
|
any redemption of shares issued by an Investment Company where the proceeds of such
redemption were requested to be sent to other than any address for such account which was
designated (a) in the initial account application, or (b) in writing (not to include
Electronic Transmission), where such writing is received at least one (1) day prior to such
redemption request, or (c) by voice over the telephone or by Electronic Transmission at
least fifteen (15) days prior to such redemption; or
|
|
|
(5)
|
|
the intentional failure to adhere to one or more Phone/Electronic Transaction Security
Procedures; or
|
|
|
(6)
|
|
a Phone/Electronic Transaction request transmitted by electronic mail or transmitted by
any method not subject to the Phone/Electronic Transaction Security Procedures; or
|
|
|
(7)
|
|
the failure or circumvention of any physical or electronic protection device, including
any firewall, that imposes restrictions on the flow of electronic traffic in or out of any
Computer System.
|
This Insuring Agreement I does not cover loss covered under Insuring Agreement A, Fidelity or
Insuring Agreement J, Computer Security.
GENERAL AGREEMENTS
A.
|
|
ADDITIONAL OFFICES OR EMPLOYEESCONSOLIDATION OR MERGERNOTICE
|
|
1.
|
|
Except as provided in paragraph 2 below, this Bond shall apply to any additional
office(s) established by the Insured during the Bond Period and to all Employees during the
Bond Period,
|
4
|
|
|
without the need to give notice thereof or pay additional premiums to the
Underwriter for the Bond Period.
|
|
|
2.
|
|
If during the Bond Period an Insured Investment Company shall merge or consolidate with
an institution in which such Insured is the surviving entity, or purchase substantially all
the assets or capital stock of another institution, or acquire or create a separate
investment portfolio, and shall within sixty (60) days notify the Underwriter thereof, then
this Bond shall automatically apply to the Property and Employees resulting from such
merger, consolidation, acquisition or creation from the date thereof; provided, that the
Underwriter may make such coverage contingent upon the payment of an additional premium.
|
B.
|
|
WARRANTY
|
|
|
|
No statement made by or on behalf of the Insured, whether contained in the Application or
otherwise, shall be deemed to be an absolute warranty, but only a warranty that such statement
is true to the best of the knowledge of the person responsible for such statement.
|
|
C.
|
|
COURT COSTS AND ATTORNEYS FEES
|
|
|
|
The Underwriter will indemnify the Insured against court costs and reasonable attorneys fees
incurred and paid by the Insured in defense of any legal proceeding brought against the Insured
seeking recovery for any loss which, if established against the Insured, would constitute a loss
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 having committed or is adjudicated to have committed a Dishonest
or Fraudulent Act or Theft which caused the loss; or
|
|
|
2.
|
|
in the absence of such an admission or adjudication, an arbitrator or arbitrators
acceptable to the Insured and the Underwriter concludes, after a review of an agreed
statement of facts, that an Employee has committed a Dishonest or Fraudulent Act or Theft
which caused the loss.
|
The Insured shall promptly give notice to the Underwriter of any such legal proceeding and upon
request shall furnish the Underwriter 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 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 legal proceeding.
If the amount of the Insureds liability or alleged liability in any such legal proceeding is
greater than the amount which the Insured would be entitled to recover under this Bond (other
than pursuant to this General Agreement C), or if a Deductible Amount is applicable, or both,
the indemnity liability of the Underwriter under this General Agreement C is limited to the
proportion of court costs and attorneys fees incurred and paid by the Insured or by the
Underwriter that the amount which the Insured would be
entitled to recover under this Bond (other than pursuant to this General Agreement C) bears to
the sum of such amount plus the amount which the Insured is not entitled to recover. Such
indemnity shall be in addition to the Limit of Liability for the applicable Insuring Agreement.
5
D.
|
|
INTERPRETATION
|
|
|
|
This Bond shall be interpreted with due regard to the purpose of fidelity bonding under Rule
17g-1 of the Investment Company Act of 1940 (i.e., to protect innocent third parties from harm)
and to the structure of the investment management industry (in which a loss of Property
resulting from a cause described in any Insuring Agreement ordinarily gives rise to a potential
legal liability on the part of the Insured), such that the term loss as used herein shall
include an Insureds legal liability for direct compensatory damages resulting directly from a
misappropriation, or measurable diminution in value, of Property.
|
THIS BOND, INCLUDING THE FOREGOING INSURING AGREEMENTS
AND GENERAL AGREEMENTS, IS SUBJECT TO THE FOLLOWING
PROVISIONS, CONDITIONS AND LIMITATIONS:
SECTION 1. DEFINITIONS
The following terms used in this Bond shall have the meanings stated in this Section:
A.
|
|
Alteration
means the marking, changing or altering in a material way of the terms, meaning
or legal effect of a document with the intent to deceive.
|
|
B.
|
|
Application
means the Insureds application (and any attachments and materials submitted in
connection therewith) furnished to the Underwriter for this Bond.
|
|
C.
|
|
Computer System
means (1) computers with related peripheral components, including storage
components, (2) systems and applications software, (3) terminal devices, (4) related
communications networks or customer communication systems, and (5) related electronic funds
transfer systems; by which data or monies are electronically collected, transmitted,
processed, stored or retrieved.
|
|
D.
|
|
Counterfeit
means, with respect to any item, one which is false but is intended to deceive
and to be taken for the original authentic item.
|
|
E.
|
|
Deductible Amount
means, with respect to any Insuring Agreement, the amount set forth under
the heading Deductible Amount in Item 3 of the Declarations or in any Rider for such
Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.
|
|
F.
|
|
Depository
means any securities depository (other than any foreign securities depository)
in which an Investment Company may deposit its Securities in accordance with Rule 17f-4 under
the Investment Company Act of 1940.
|
|
G.
|
|
Dishonest or Fraudulent Act
means any dishonest or fraudulent act, including larceny and
embezzlement as defined in Section 37 of the Investment Company Act of 1940, committed with
the conscious manifest intent (1) to cause the Insured to sustain a loss and (2) to obtain
financial benefit for the perpetrator or any other person (other than salaries, commissions,
fees, bonuses, awards, profit
sharing, pensions or other employee benefits). A Dishonest or Fraudulent Act does not mean or
include a reckless act, a negligent act, or a grossly negligent act.
|
|
H.
|
|
Electronic Transmission
means any transmission effected by electronic means, including but
not limited to a transmission effected by telephone tones, Telefacsimile, wireless device, or
over the Internet.
|
6
|
(1)
|
|
each officer, director, trustee, partner or employee of the Insured, and
|
|
|
(2)
|
|
each officer, director, trustee, partner or employee 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)
|
|
each attorney performing legal services for the Insured and each employee of such
attorney or of the law firm of such attorney while performing services for the Insured, and
|
|
|
(4)
|
|
each student who is an authorized intern of the Insured, while in any of the Insureds
offices, and
|
|
|
(5)
|
|
each officer, director, trustee, partner or employee of
|
|
(a)
|
|
an investment adviser,
|
|
|
(b)
|
|
an underwriter (distributor),
|
|
|
(c)
|
|
a transfer agent or shareholder accounting recordkeeper, or
|
|
|
(d)
|
|
an administrator authorized by written agreement to keep financial and/or other
required records,
|
|
|
|
for an Investment Company named as an Insured, BUT ONLY while (i) such officer, partner or
employee is performing acts coming within the scope of the usual duties of an officer or
employee of an Insured, or (ii) such officer, director, trustee, partner or employee is
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, or (iii) such director or trustee (or
anyone acting in a similar capacity) is acting outside the scope of the usual duties of a
director or trustee;PROVIDED, that the term Employee shall not include any officer,
director, trustee, partner or employee of a transfer agent, shareholder accounting
recordkeeper or administrator (x) which is not an affiliated person (as defined in Section
2(a) of the Investment Company Act of 1940) of an Investment Company named as Insured or of
the adviser or underwriter of such Investment Company, or (y) which is a Bank (as defined
in Section 2(a) of the Investment Company Act of 1940), and
|
|
|
(6)
|
|
each individual assigned, by contract or by any agency furnishing temporary personnel,
in either case on a contingent or part-time basis, to perform the usual duties of an
employee in any office of the Insured, and
|
|
|
(7)
|
|
each individual assigned to perform the usual duties of an employee or officer of any
entity 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 a
processor which acts as transfer agent or in any other agency capacity for the Insured in
issuing checks, drafts or securities, unless included under subsection (5) hereof, and
|
|
|
(8)
|
|
each officer, partner or employee of
|
|
(a)
|
|
any Depository or Exchange,
|
|
|
(b)
|
|
any nominee in whose name is registered any Security included in the systems
for the central handling of securities established and maintained by any Depository,
and
|
|
|
(c)
|
|
any recognized service company which provides clerks or other personnel to any
Depository or Exchange on a contract basis,
|
|
|
|
while such officer, partner or employee is performing services for any Depository in the
operation of systems for the central handling of securities, and
|
|
|
(9)
|
|
in the case of an Insured which is an employee benefit plan (as defined in Section 3
of the Employee Retirement Income Security Act of 1974 (ERISA)) for officers, directors
or employees of another Insured (In-House Plan), any fiduciary or other plan official
(within the meaning of
|
7
|
|
|
Section 412 of ERISA) of such In-House Plan, provided that such
fiduciary or other plan official is a director, partner, officer, trustee or employee of an
Insured (other than an In-House Plan).
|
|
|
Each employer of temporary personnel and each entity referred to in subsections (6) and (7) and
their respective partners, officers and employees shall collectively be deemed to be one person
for all the purposes of this Bond.
|
|
|
|
Brokers, agents, independent contractors, or representatives of the same general character shall
not be considered Employees, except as provided in subsections (3), (6), and (7).
|
|
J.
|
|
Exchange
means any national securities exchange registered under the Securities Exchange
Act of 1934.
|
|
K.
|
|
Forgery
means the physical signing on a document of the name of another person (whether
real or fictitious) with the intent to deceive. A Forgery may be by means of mechanically
reproduced facsimile signatures as well as handwritten signatures. Forgery does not include
the signing of an individuals own name, regardless of such individuals authority, capacity
or purpose.
|
|
L.
|
|
Items of Deposit
means one or more checks or drafts.
|
|
M.
|
|
Investment Company
or
Fund
means an investment company registered under the Investment
Company Act of 1940.
|
|
N.
|
|
Limit of Liability
means, with respect to any Insuring Agreement, the limit of liability of
the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the
heading Limit of Liability in Item 3 of the Declarations or in any Rider for such Insuring
Agreement.
|
|
O.
|
|
Mysterious Disappearance
means any disappearance of Property which, after a reasonable
investigation has been conducted, cannot be explained.
|
|
P.
|
|
Non-Fund
means any corporation, business trust, partnership, trust or other entity which is not an Investment Company.
|
|
Q.
|
|
Phone/Electronic Transaction Security Procedures
means security procedures for Phone/
Electronic Transactions as provided in writing to the Underwriter.
|
|
R.
|
|
Phone/Electronic Transaction
means any
(1) redemption of shares issued by an
Investment Company, (2) election
concerning dividend options available to
Fund shareholders, (3) 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, or (4)
purchase of shares issued by an
Investment Company, which redemption,
election, exchange or purchase is
requested by voice over the telephone or
through an Electronic Transmission.
|
|
S.
|
|
Property
means the following tangible
items: money, postage and revenue
stamps, precious metals, Securities,
bills of exchange, acceptances, checks,
drafts, or other written orders or
directions to pay sums certain in money,
certificates of deposit, due bills,
money orders, letters of credit,
financial futures contracts, conditional
sales contracts, abstracts of title,
insurance policies, deeds, mortgages,
and assignments of any of the foregoing,
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 (but excluding all data
processing records), (1) in which the
Insured has a legally cognizable
interest, (2) in which the Insured
acquired or should have acquired such an
interest by reason of a predecessors
declared financial condition at the time
of the Insureds consolidation or merger
with,
|
8
|
|
or purchase of the principal
assets of, such predecessor or (3) which
are held by the Insured for any purpose
or in any capacity.
|
|
T.
|
|
Securities
means original negotiable
or non-negotiable agreements or
instruments which represent an equitable
or legal interest, ownership or debt
(including stock certificates, bonds,
promissory notes, and assignments
thereof), which are in the ordinary
course of business and transferable by
physical delivery with appropriate
endorsement or assignment. Securities
does not include bills of exchange,
acceptances, certificates of deposit,
checks, drafts, or other written orders
or directions to pay sums certain in
money, due bills, money orders, or
letters of credit.
|
|
U.
|
|
Security Company
means an entity which
provides or purports to provide the
transport of Property by secure means,
including, without limitation, by use of
armored vehicles or guards.
|
|
V.
|
|
Self Regulatory Organization
means any
association of investment advisers or
securities dealers registered under the
federal securities laws, or any
Exchange.
|
|
W.
|
|
Shareholder of Record
means the record
owner of shares issued by an Investment
Company or, in the case of joint
ownership of such shares, all record
owners, as designated (1) in the initial
account application, or (2) in writing
accompanied by a signature guarantee, or
(3) pursuant to procedures as set forth
in the Application.
|
|
X.
|
|
Single Loss
means:
|
|
(1)
|
|
all loss resulting from any one actual or attempted Theft committed by one person, or
|
|
|
(2)
|
|
all loss caused by any one act (other than a Theft or a Dishonest or Fraudulent Act)
committed by one person, or
|
|
|
(3)
|
|
all loss caused by Dishonest or Fraudulent Acts committed by one person, or
|
|
|
(4)
|
|
all expenses incurred with respect to any one audit or examination, or
|
|
|
(5)
|
|
all loss caused by any one occurrence or event other than those specified in
subsections (1) through (4) above.
|
|
|
All acts or omissions of one or more persons which directly or indirectly aid or, by failure to
report or otherwise, permit the continuation of an act referred to in subsections (1) through
(3) above of any other person shall be deemed to be the acts of such other person for purposes
of this subsection.
|
|
|
|
All acts or occurrences or events which have as a common nexus any fact, circumstance,
situation, transaction or series of facts, circumstances, situations, or transactions shall be
deemed to be one act, one occurrence, or one event.
|
|
Y.
|
|
Telefacsimile
means a system of transmitting and reproducing fixed
graphic material (as, for example, printing) by means of signals
transmitted over telephone lines or over the Internet.
|
|
Z.
|
|
Theft
means robbery, burglary or hold-up, occurring with or without
violence or the threat of violence.
|
SECTION 2. EXCLUSIONS
THIS BOND DOES NOT COVER:
A.
|
|
Loss resulting from (1) riot or civil commotion outside the United States of America and
Canada, or (2) war, revolution, insurrection, action by armed forces, or usurped power,
wherever occurring; except if
|
9
|
|
such loss occurs while the Property is in transit, is otherwise
covered under Insuring Agreement D, and when such transit was initiated, the Insured or any
person initiating such transit on the Insureds behalf had no knowledge of such riot, civil
commotion, war, revolution, insurrection, action by armed forces, or usurped power.
|
B.
|
|
Loss in time of peace or war resulting from nuclear fission or fusion or radioactivity, or
biological or chemical agents or hazards, or fire, smoke, or explosion, or the effects of any
of the foregoing.
|
|
C.
|
|
Loss resulting from any Dishonest or Fraudulent Act committed by any person while acting in
the capacity of a member of the Board of Directors or any equivalent body of the Insured or of
any other entity.
|
|
D.
|
|
Loss resulting from any nonpayment or other default of any loan or similar transaction made
by the Insured or any of its partners, directors, officers or employees, whether or not
authorized and whether procured in good faith or through a Dishonest or Fraudulent Act, unless
such loss is otherwise covered under Insuring Agreement A, E or F.
|
|
E.
|
|
Loss resulting from any violation by the Insured or by any Employee of any law, or any rule
or regulation pursuant thereto or adopted by a Self Regulatory Organization, regulating the
issuance, purchase or sale of securities, securities transactions upon security exchanges or
over the counter markets, Investment Companies, or investment advisers, unless such loss, in
the absence of such law, rule or regulation, would be covered under Insuring Agreement A, E or
F.
|
|
F.
|
|
Loss resulting from Property that is the object of Theft, Dishonest or Fraudulent Act, or
Mysterious Disappearance while in the custody of any Security Company, unless such loss is
covered under this Bond and is in excess of the amount recovered or received by the Insured
under (1) the Insureds contract with such Security Company, and (2) insurance or indemnity of
any kind carried by such Security Company for the benefit of, or otherwise available to, users
of its service, in which case this Bond shall cover only such excess, subject to the
applicable Limit of Liability and Deductible Amount.
|
|
G.
|
|
Potential income, including but not limited to interest and dividends, not realized by the
Insured because of a loss covered under this Bond, except when covered under Insuring
Agreement H.
|
|
H.
|
|
Loss in the form of (1) damages of any type for which the Insured is legally liable, except
direct compensatory damages, or (2) taxes, fines, or penalties, including without limitation
two-thirds of treble damage awards pursuant to judgments under any statute or regulation.
|
|
I.
|
|
Loss resulting from 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 where the Property is in transit in the custody
of any person acting as messenger as a result of a threat to do bodily harm to such person,
if the Insured had no knowledge of such threat at the time such transit was initiated, or
|
|
|
(2)
|
|
to do damage to the premises or Property of the Insured,
|
|
|
unless such loss is otherwise covered under Insuring Agreement A.
|
|
J.
|
|
All costs, fees and other expenses incurred by the Insured in establishing the existence of
or amount of loss covered under this Bond, except to the extent certain audit expenses are
covered under Insuring Agreement B.
|
|
K.
|
|
Loss resulting from payments made to or withdrawals from any account, involving funds
erroneously credited to such account, unless such loss is otherwise covered under Insuring
Agreement A.
|
10
L.
|
|
Loss resulting from uncollectible Items of Deposit which are drawn upon a financial
institution outside the United States of America, its territories and possessions, or Canada.
|
|
M.
|
|
Loss resulting from the Dishonest or Fraudulent Acts, Theft, or other acts or omissions of an
Employee primarily engaged in the sale of shares issued by an Investment Company to persons
other than (1) a person registered as a broker under the Securities Exchange Act of 1934 or
(2) an accredited investor as defined in Rule 501(a) of Regulation D under the Securities
Act of 1933, which is not an individual.
|
|
N.
|
|
Loss resulting 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.
|
|
Loss resulting from any purchase, redemption or exchange of securities issued by an
Investment Company or other Insured, or any other instruction, request, acknowledgement,
notice or transaction involving securities issued by an Investment Company or other Insured or
the dividends in respect thereof, when any of the foregoing is requested, authorized or
directed or purported to be requested, authorized or directed by voice over the telephone or
by Electronic Transmission, unless such loss is otherwise covered under Insuring Agreement A
or Insuring Agreement I.
|
|
P.
|
|
Loss resulting from any Dishonest or Fraudulent Act or Theft committed by an Employee as
defined in Section 1.I(2), unless such loss (1) could not have been reasonably discovered by
the due diligence of the Insured at or prior to the time of acquisition by the Insured of the
assets acquired from a predecessor, and (2) arose out of a lawsuit or valid claim brought
against the Insured by a person unaffiliated with the Insured or with any person affiliated
with the Insured.
|
|
Q.
|
|
Loss resulting from the unauthorized entry of data into, or the deletion or destruction of
data in, or the change of data elements or programs within, any Computer System, unless such
loss is otherwise covered under Insuring Agreement A.
|
SECTION 3. ASSIGNMENT OF RIGHTS
Upon payment to the Insured hereunder for any loss, the Underwriter shall be subrogated to the
extent of such payment to all of the Insureds rights and claims in connection with such loss;
provided, however, that the Underwriter shall not be subrogated to any such rights or claims one
named Insured under this Bond may have against another named Insured under this Bond. At the
request of the Underwriter, the Insured shall execute all assignments or other documents and
take such action as the Underwriter may deem necessary or desirable to secure and perfect such
rights and claims, including the execution of documents necessary to enable the Underwriter to
bring suit in the name of the Insured.
Assignment of any rights or claims under this Bond shall not bind the Underwriter without the
Underwriters written consent.
SECTION 4. LOSSNOTICEPROOFLEGAL PROCEEDINGS
This Bond is for the use and benefit only of the Insured and the Underwriter shall not be liable
hereunder to anyone other than the Insured. As soon as practicable and not more than sixty (60)
days after discovery, the Insured shall give the Underwriter written notice thereof and, as soon
as practicable and within one year after such discovery, shall also furnish to the Underwriter
affirmative proof of loss with full particulars. The Underwriter may extend the sixty day
notice period or the one year proof of loss period if the Insured requests an extension and
shows good cause therefor.
11
See also General Agreement C (Court Costs and Attorneys Fees).
The Underwriter shall not be liable hereunder for loss of Securities unless each of the
Securities is identified in such proof of loss by a certificate or bond number or by such
identification means as the Underwriter may require. The Underwriter shall have a reasonable
period after receipt of a proper affirmative proof of loss within which to investigate the
claim, but where the Property is Securities and the loss is clear and undisputed, settlement
shall be made within forty-eight (48) hours even if the loss involves Securities of which
duplicates may be obtained.
The Insured shall not bring legal proceedings against the Underwriter to recover any loss
hereunder prior to sixty (60) days after filing such proof of loss or subsequent to twenty-four
(24) months after the discovery of such loss or, in the case of a legal proceeding to recover
hereunder on account of any judgment against the Insured in or settlement of any suit mentioned
in General Agreement C or to recover court costs or attorneys fees paid in any such suit,
twenty-four (24) months after the date of the final judgment in or settlement of such suit. If
any limitation in this Bond is prohibited by any applicable law, such limitation shall be deemed
to be amended to be equal to the minimum period of limitation permitted by such law.
Notice hereunder shall be given to Manager, Professional Liability Claims, ICI Mutual Insurance
Company, 1401 H St. NW, Washington, DC 20005.
SECTION 5. DISCOVERY
For all purposes under this Bond, a loss is discovered, and discovery of a loss occurs, when the
Insured
|
(1)
|
|
becomes aware of facts, or
|
|
|
(2)
|
|
receives 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 loss covered by this Bond has been or is
likely to be incurred even though the exact amount or details of loss may not be known.
SECTION 6. VALUATION OF PROPERTY
For the purpose of determining the amount of any loss hereunder, the value of any Property shall
be the market value of such Property at the close of business on the first business day before
the discovery of such loss; except that
|
(1)
|
|
the value of any Property replaced by the Insured prior to the payment of a claim
therefor shall be the actual market value of such Property at the time of replacement, but
not in excess of the market value of such Property on the first business day before the
discovery of the loss of such Property;
|
|
|
(2)
|
|
the value of Securities which must be produced to exercise subscription, conversion,
redemption or deposit privileges shall be the market value of such privileges immediately
preceding the expiration thereof if the loss of such Securities is not discovered until
after such expiration, but if there is no quoted or other ascertainable market price for
such Property or privileges referred to in clauses (1) and (2), their value shall be fixed
by agreement between the parties or by arbitration before an arbitrator or arbitrators
acceptable to the parties; and
|
|
|
(3)
|
|
the value of books of accounts or other records used by the Insured in the conduct of
its business shall be limited to the actual cost of blank books, blank pages or other
materials if the books or records are reproduced plus the cost of labor for the
transcription or copying of data furnished by the Insured for reproduction.
|
12
SECTION 7. LOST SECURITIES
The maximum liability of the Underwriter hereunder for lost Securities shall be the payment for,
or replacement of, such Securities having an aggregate value not to exceed the applicable Limit
of Liability. If the Underwriter shall make payment to the Insured for any loss of
S
ecurities, the Insured shall assign to the Underwriter all of the Insureds right,
title and interest in and to such Securities. In lieu of such payment, the Underwriter may, at
its option, replace such lost Securities, and in such case the Insured shall cooperate to effect
such replacement. To effect the replacement of lost Securities, the Underwriter may issue or
arrange for the issuance of a lost instrument bond. If the value of such Securities does not
exceed the applicable Deductible Amount (at the time of the discovery of the loss), the Insured
will pay the usual premium charged for the lost instrument bond and will indemnify the issuer of
such bond against all loss and expense that it may sustain because of the issuance of such bond.
If the value of such Securities exceeds the applicable Deductible Amount (at the time of
discovery of the loss), the Insured will pay a proportion of the usual premium charged for the
lost instrument bond, equal to the percentage that the applicable Deductible Amount bears to the
value of such Securities upon discovery of the loss, and will indemnify the issuer of such bond
against all loss and expense that is not recovered from the Underwriter under the terms and
conditions of this Bond, subject to the applicable Limit of Liability.
SECTION 8. SALVAGE
If any recovery is made, whether by the Insured or the Underwriter, on account of any loss
within the applicable Limit of Liability hereunder, the Underwriter shall be entitled to the
full amount of such recovery to reimburse the Underwriter for all amounts paid hereunder with
respect to such loss. If any recovery is made, whether by the Insured or the Underwriter, on
account of any loss in excess of the applicable 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 amount of such
recovery, net of the actual costs and expenses of recovery, shall be applied to reimburse the
Insured in full for the portion of such loss in excess of such Limit of Liability, and the
remainder, if any, shall be paid first to reimburse the Underwriter for all amounts paid
hereunder with respect to such loss and then to the Insured to the extent of the portion of such
loss within the Deductible Amount. The Insured shall execute all documents which the
Underwriter deems necessary or desirable to secure to the Underwriter the rights provided for
herein.
|
|
|
SECTION 9.
|
|
NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
|
Prior to its termination, this Bond shall continue in force up to the Limit of Liability for
each Insuring Agreement for each Single Loss, notwithstanding any previous loss (other than such
Single 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
of premiums which shall be payable or paid, the liability of the Underwriter under this Bond
with respect to any Single Loss shall be limited to the applicable Limit of Liability
irrespective of the total amount of such Single Loss and shall not be cumulative in amounts from
year to year or from period to period.
SECTION 10. MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES
The maximum liability of the Underwriter for any Single Loss covered by any Insuring Agreement
under this Bond shall be the Limit of Liability applicable to such Insuring Agreement, subject
to the applicable Deductible Amount and the other provisions of this Bond. Recovery for any
Single Loss may
13
not be made under more than one Insuring Agreement. If any Single Loss covered
under this Bond is recoverable or recovered in whole or in part because of an unexpired
discovery period under any other bonds or policies issued by the Underwriter to the Insured or
to any predecessor in interest of the Insured, the maximum liability of the Underwriter shall be
the greater of either (1) the applicable Limit of Liability under this Bond, or (2) the maximum
liability of the Underwriter under such other bonds or policies.
SECTION 11. OTHER INSURANCE
Notwithstanding anything to the contrary herein, if any loss covered by this Bond shall also be
covered by other insurance or suretyship for the benefit of the Insured, the Underwriter shall
be liable hereunder only for the portion of such loss in excess of the amount recoverable under
such other insurance or suretyship, but not exceeding the applicable Limit of Liability of this
Bond.
SECTION 12. DEDUCTIBLE AMOUNT
The Underwriter shall not be liable under any Insuring Agreement unless the amount of the loss
covered thereunder, after deducting the net amount of all reimbursement and/or recovery received
by the Insured with respect to such loss (other than from any other bond, suretyship or
insurance policy or as an advance by the Underwriter hereunder) shall exceed the applicable
Deductible Amount; in such case the Underwriter shall be liable only for such excess, subject to
the applicable Limit of Liability and the other terms of this Bond.
No Deductible Amount shall apply to any loss covered under Insuring Agreement A sustained by any
Investment Company named as an Insured.
SECTION 13. TERMINATION
The Underwriter may terminate this Bond as to any Insured or all Insureds only by written notice
to such Insured or Insureds and, if this Bond is terminated as to any Investment Company, to
each such Investment Company terminated thereby and to the Securities and Exchange Commission,
Washington, D.C., in all cases not less than sixty (60) days prior to the effective date of
termination specified in such notice.
The Insured may terminate this Bond only by written notice to the Underwriter not less than
sixty (60) days prior to the effective date of the termination specified in such notice.
Notwithstanding the foregoing, when the Insured terminates this Bond as to any Investment
Company, the effective date of termination shall be not less than sixty (60) days from the date
the Underwriter provides written notice of the termination to each such Investment Company
terminated thereby and to the Securities and Exchange Commission, Washington, D.C.
This Bond will terminate as to any Insured that is a Non-Fund immediately and without notice
upon (1) the takeover of such Insureds business by any State or Federal official or agency, or
by any receiver or liquidator, or (2) 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.
Premiums are earned until the effective date of termination. The Underwriter shall refund the
unearned premium computed at short rates in accordance with the Underwriters standard short
rate cancellation tables if this Bond is terminated by the Insured or pro rata if this Bond is
terminated by the Underwriter.
14
Upon the detection by any Insured that an 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 Act(s) or Theft. The Insured, within two (2) business days 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 Employee, becomes aware that the
Employee has committed any Dishonest or Fraudulent Act(s) or Theft.
This Bond shall terminate as to any Employee by written notice from the Underwriter to each
Insured and, if such Employee is an Employee of an Insured Investment Company, to the Securities
and Exchange Commission, in all cases not less than sixty (60) days prior to the effective date
of termination specified in such notice.
SECTION 14. RIGHTS AFTER TERMINATION
At any time prior to the effective date of termination of this Bond as to any Insured, such
Insured may, by written notice to the Underwriter, elect to purchase the right under this Bond
to an additional period of twelve (12) months within which to discover loss sustained by such
Insured prior to the effective date of such termination and shall pay an additional premium
therefor as the Underwriter may require.
Such additional discovery period shall terminate immediately and without notice upon the
takeover of such Insureds business by any State or Federal official or agency, or by any
receiver or liquidator. Promptly after such termination the Underwriter shall refund to the
Insured any unearned premium.
The right to purchase such additional discovery period may not be exercised by any State or
Federal official or agency, or by any receiver or liquidator, acting or appointed to take over
the Insureds business.
SECTION 15. CENTRAL HANDLING OF SECURITIES
The Underwriter shall not be liable for loss in connection with the central handling of
securities within the systems established and maintained by any Depository (Systems), unless
the amount of such loss
exceeds the amount recoverable or recovered under any bond or policy or participants fund
insuring the Depository against such loss (the Depositorys Recovery); in such case the
Underwriter shall be liable hereunder only for the Insureds share of such excess loss, subject
to the applicable Limit of Liability, the Deductible Amount and the other terms of this Bond.
For determining the Insureds share of such excess loss, (1) the Insured shall be deemed to have
an interest in any certificate representing any security included within the Systems equivalent
to the interest the Insured then has in all certificates representing the same security included
within the Systems; (2) the Depository shall have reasonably and fairly apportioned the
Depositorys Recovery among all those having an interest as recorded by appropriate entries in
the books and records of the Depository in Property involved in such loss, so that each such
interest shall share in the Depositorys Recovery in the ratio that the value of each such
interest bears to the total value of all such interests; and (3) the Insureds share of such
excess loss shall be the amount of the Insureds interest in such Property in excess of the
amount(s) so apportioned to the Insured by the Depository.
This Bond does not afford coverage in favor of any Depository or Exchange or any nominee in
whose name is registered any security included within the Systems.
15
SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If more than one entity is named as the Insured:
|
A.
|
|
the total liability of the Underwriter hereunder for each Single Loss shall not exceed
the Limit of Liability which would be applicable if there were only one named Insured,
regardless of the number of Insured entities which sustain loss as a result of such Single
Loss,
|
|
|
B.
|
|
the Insured first named in Item 1 of the Declarations shall be deemed authorized to
make, adjust, and settle, and receive and enforce payment of, all claims hereunder as the
agent of each other Insured for such purposes and for the giving or receiving of any notice
required or permitted to be given hereunder; provided, that the Underwriter shall promptly
furnish each named Insured Investment Company with (1) a copy of this Bond and any
amendments thereto, (2) a copy of each formal filing of a claim hereunder by any other
Insured, and (3) notification of the terms of the settlement of each such claim prior to
the execution of such settlement,
|
|
|
C.
|
|
the Underwriter shall not be responsible or have any liability for the proper
application by the Insured first named in Item 1 of the Declarations of any payment made
hereunder to the first named Insured,
|
|
|
D.
|
|
for the purposes of Sections 4 and 13, knowledge possessed or discovery made by any
partner, officer or supervisory Employee of any Insured shall constitute knowledge or
discovery by every named Insured,
|
|
|
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, and
|
|
|
F.
|
|
each named Insured shall constitute the Insured for all purposes of this Bond.
|
SECTION 17. NOTICE AND CHANGE OF CONTROL
Within thirty (30) days after learning that there has been a change in control of an Insured by
transfer of its outstanding voting securities the Insured shall give written notice to the
Underwriter of:
|
A.
|
|
the names of the transferors and transferees (or the names of the beneficial owners if
the voting securities are registered in another name), and
|
|
|
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.
SECTION 18. CHANGE OR MODIFICATION
This Bond may only be modified by written Rider forming a part hereof over the signature of the
Underwriters authorized representative. Any Rider which modifies the coverage provided by
Insuring Agreement A, Fidelity, in a manner which adversely affects the rights of an Insured
Investment Company shall not become effective until at least sixty (60) days after the
Underwriter has given written
16
notice thereof to the Securities and Exchange Commission,
Washington, D.C., and to each Insured Investment Company affected thereby.
IN WITNESS WHEREOF, the Underwriter has caused this Bond to be executed on the Declarations Page.
17
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 1
|
|
|
|
|
|
|
|
insured
|
|
|
|
|
|
bond number
|
|
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that Item
1 of the Declarations, Name of Insured, shall include the following:
Van Kampen Asset Management Inc.
Van Kampen Exchange Corporation
Van Kampen Funds Inc.
Van Kampen Advisors Inc.
Van Kampen Investor Services Inc.
VKM Global Emerging Markets Advisors, Inc.
Morgan Stanley Investments Management Limited
Morgan Stanley Investment Management Company
Morgan Stanley Investments LP
Morgan Stanley Investment Management, Inc.
Morgan Stanley Asset & Investment Management Co., Limited
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN1.0-00 (1/02)
18
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 2
|
|
|
|
|
|
|
|
insured
|
|
|
|
|
|
bond number
|
|
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that this
Bond (other than Insuring Agreements C and D) does not cover loss resulting from or in connection
with any business, activities, or acts or omissions of (including services rendered by) any Insured
which is
not
an Insured Fund (Non-Fund) or any Employee of a Non-Fund,
except
loss, otherwise covered by the terms of this Bond, resulting from or in connection with (1)
services rendered by a Non-Fund to an Insured Fund, or to shareholders of such Fund in connection
with the issuance, transfer, or redemption of their Fund shares, or (2) in the case of a Non-Fund
substantially all of whose business is rendering the services described in (1) above, the general
business, activities or operations of such Non-Fund,
excluding
(a) the rendering of
services (other than those described in (1) above) to any person, or (b) the sale of goods or
property of any kind.
It is further understood and agreed that with respect to any Non-Fund, Insuring Agreements C and D
only cover loss of Property which a Non-Fund uses or holds, or in which a Non-Fund has an interest,
in each case wholly or partially in connection with the rendering of services by a Non-Fund to an
Insured Fund, or to shareholders of such Fund in connection with the issuance, transfer, or
redemption of their Fund shares.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN3.0-01 (1/02)
19
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 3
|
|
|
|
|
|
|
|
insured
|
|
|
|
|
|
bond number
|
|
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that
notwithstanding Section 2.Q of this Bond, this Bond is amended by adding an additional Insuring
Agreement J as follows:
Loss (including loss of Property) resulting directly from Computer Fraud;
provided
, that
the Insured has adopted in writing and generally maintains and follows during the Bond Period all
Computer Security Procedures. The isolated failure of the Insured to maintain and follow a
particular Computer Security Procedure in a particular instance will not preclude coverage under
this Insuring Agreement, subject to the specific exclusions herein and in the Bond.
|
1.
|
|
Definitions
. The following terms used in this Insuring Agreement shall have
the following meanings:
|
|
a.
|
|
Authorized User means any person or entity designated by the Insured (through
contract, assignment of User Identification, or otherwise) as authorized to use a
Covered Computer System, or any part thereof. An individual who invests in an Insured
Fund shall not be considered to be an Authorized User solely by virtue of being an
investor.
|
b. Computer Fraud means the unauthorized entry of data into, or the deletion or
destruction of data in, or change of data elements or programs within, a Covered
Computer System which:
|
(1)
|
|
is committed by any Unauthorized Third Party anywhere, alone or in
collusion with other Unauthorized Third Parties;
and
|
|
|
(2)
|
|
is committed with the conscious manifest intent (a) to cause the
Insured to sustain a loss,
and
(b) to obtain financial benefit for the
perpetrator or any other person;
and
|
20
|
(3)
|
|
causes (x) Property to be transferred, paid or delivered;
or
(y) an account of the Insured, or of its customer, to be added, deleted, debited or
credited;
or
(z) an unauthorized or fictitious account to be debited or
credited.
|
|
c.
|
|
Computer Security Procedures means procedures for prevention of unauthorized
computer access and use and administration of computer access and use as provided in
writing to the Underwriter.
|
|
|
d.
|
|
Covered Computer System means any Computer System as to which the Insured has
possession, custody and control.
|
|
|
e.
|
|
Unauthorized Third Party means any person or entity that, at the time of the
Computer Fraud, is not an Authorized User.
|
|
|
f.
|
|
User Identification means any unique user name (
i.e.
, a series of characters)
that is assigned to a person or entity by the Insured.
|
|
2.
|
|
Exclusions
. It is further understood and agreed that this Insuring Agreement J
shall not cover:
|
|
a.
|
|
Any loss covered under Insuring Agreement A, Fidelity, of this Bond;
and
|
|
|
b.
|
|
Any loss resulting directly or indirectly from Theft or misappropriation of
confidential or proprietary information, material or data (including but not limited to
trade secrets, computer programs or customer information);
and
|
|
|
c.
|
|
Any loss resulting from the intentional failure to adhere to one or more
Computer Security Procedures;
and
|
|
|
d.
|
|
Any loss resulting from a Computer Fraud committed by or in collusion with:
|
|
(1)
|
|
any Authorized User (whether a natural person or an entity);
or
|
|
|
(2)
|
|
in the case of any Authorized User which is an entity, (a) any
director, officer, partner, employee or agent of such Authorized User, or
(b) any entity which controls, is controlled by, or is under common control
with such Authorized User (Related Entity), or (c) any director, officer,
partner, employee or agent of such Related Entity;
or
|
|
|
(3)
|
|
in the case of any Authorized User who is a natural person, (a)
any entity for which such Authorized User is a director, officer, partner,
employee or agent (Employer Entity), or (b) any director, officer,
partner, employee or agent of such Employer Entity, or (c) any entity which
controls, is controlled by, or is under common control with such Employer
Entity
(Employer-Related Entity), or (d) any director, officer, partner,
employee or agent of such Employer-Related Entity;
|
21
|
|
|
and
|
|
|
e.
|
|
Any loss resulting from physical damage to or destruction of any Covered
Computer System, or any part thereof, or any data, data elements or media associated
therewith;
and
|
|
|
f.
|
|
Any loss resulting from Computer Fraud committed by means of wireless access to
any Covered Computer System, or any part thereof, or any data, data elements or media
associated therewith;
and
|
|
|
g.
|
|
Any loss not directly and proximately caused by Computer Fraud (including,
without limitation, disruption of business and extra expense);
and
|
|
|
h.
|
|
Payments made to any person(s) who has threatened to deny or has denied
authorized access to a Covered Computer System or otherwise has threatened to disrupt
the business of the Insured.
|
For purposes of this Insuring Agreement, Single Loss, as defined in Section 1.X of this Bond,
shall also include all loss caused by Computer Fraud(s) committed by one person, or in which one
person is implicated, whether or not that person is specifically identified. 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 a Single Loss.
It is further understood and agreed that nothing in this Rider shall affect the exclusion set forth
in Section 2.0 of this Bond.
Coverage under this Insuring Agreement shall terminate upon termination of this Bond. Coverage
under this Insuring Agreement may also be terminated without terminating this Bond as an entirety:
|
(a)
|
|
by written notice from the Underwriter not less than sixty (60) days prior to
the effective date of termination specified in such notice; or
|
|
|
(b)
|
|
immediately by written notice from the Insured to the Underwriter.
|
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN19.0-04 (12/03)
22
I
ci mutual insurance company,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 4
|
|
|
|
|
|
|
|
insured
|
|
|
|
|
|
bond number
|
|
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that the
Deductible Amount for Insuring Agreement E, Forgery or Alteration, and Insuring Agreement F,
Securities, shall not apply with respect to loss through Forgery of a signature on the following
documents:
|
(1)
|
|
letter requesting redemption of $50,000 or less payable by check to the
shareholder of record and addressed to the address of record; or
|
|
|
(2)
|
|
letter requesting redemption of $50,000 or less by wire transfer to the
record shareholders bank account of record; or
|
|
|
(3)
|
|
written request to a trustee or custodian for a Designated Retirement
Account (DRA) which holds shares of an Insured Fund, where such request (a)
purports to be from or at the instruction of the Owner of such DRA, and (b) directs
such trustee or custodian to transfer $50,000 or less from such DRA to a trustee or
custodian for another DRA established for the benefit of such Owner;
|
provided
, that the Limit of Liability for a Single Loss as described above shall be $50,000
and that the Insured shall bear 20% of each such loss. This Rider shall not apply in the case of
any such Single Loss which exceeds $50,000; in such case the Deductible Amounts and Limits of
Liability set forth in Item 3 of the Declarations shall control.
For purposes of this Rider:
|
(A)
|
|
Designated Retirement Account means any retirement plan or account
described or qualified under the Internal Revenue Code of 1986, as amended, or a
subaccount thereof.
|
|
|
(B)
|
|
Owner means the individual for whose benefit the DRA, or a subaccount
thereof, is established.
|
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN27.0-02 (10/08)
23
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 5
|
|
|
|
|
|
|
|
insured
|
|
|
|
|
|
bond number
|
|
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that this
Bond does not cover any loss resulting from or in connection with the acceptance of any Third Party
Check, unless
|
(1)
|
|
such Third Party Check is used to open or increase an account which is registered
in the name of one or more of the payees on such Third Party Check, and
|
|
|
(2)
|
|
reasonable efforts are made by the Insured, or by the entity receiving Third Party
Checks on behalf of the Insured, to verify all endorsements on all Third Party Checks
made payable in amounts greater than $100,000 (provided, however, that the isolated
failure to make such efforts in a particular instance will not preclude coverage,
subject to the exclusions herein and in the Bond),
|
and then only to the extent such loss is otherwise covered under this Bond.
For purposes of this Rider, Third Party Check means a check made payable to one or more parties
and offered as payment to one or more other parties.
It is further understood and agreed that notwithstanding anything to the contrary above or
elsewhere in the Bond, this Bond does not cover any loss resulting from or in connection with the
acceptance of a Third Party Check where:
|
(1)
|
|
any payee on such Third Party Check reasonably appears to be a corporation or other
entity; or
|
|
|
(2)
|
|
such Third Party Check is made payable in an amount greater than $100,000 and does
not include the purported endorsements of all payees on such Third Party Check.
|
It is further understood and agreed that this Rider shall not apply with respect to any coverage
that may be available under Insuring Agreement A, Fidelity.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN30.0-01 (1/02)
24
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 6
|
|
|
|
|
|
|
|
insured
|
|
|
|
|
|
bond number
|
|
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that,
notwithstanding anything to the contrary in General Agreement A of this Bond, Item 1 of the
Declarations shall include any Investment Company advised, distributed, or administered by Van
Kampen Advisors Inc., Van Kampen Asset Management Inc., or Van Kampen Funds Inc. (individually
and/or collectively referred to as Van Kampen), whether such Investment Companies are considered
active, inactive, or dissolved, and for which Van Kampen has responsibility for placing investment
company fidelity bond insurance coverage, provided that a list of such Funds is submitted to the
Underwriter on at least an annual basis.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RNV33.0-06-096 (1/05)
25
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 7
|
|
|
|
|
|
insured
|
|
|
|
bond
number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration for the premium charged for this Bond, it is hereby understood and agreed that
notwithstanding anything to the contrary in this Bond (including Insuring Agreement I), this Bond
does not cover any loss resulting from any On-Line Redemption(s) or On-Line Purchase(s) involving
an aggregate amount in excess of $250,000 per shareholder account per day, unless before such
redemption(s) or purchase(s), in a procedure initiated by the Insured or by the entity receiving
the request for such On-Line Redemption(s) or On-Line Purchase(s):
(i) the Shareholder of Record verifies, by some method other than an Electronic
Transmission effected by computer-to-computer over the Internet or utilizing modem or
similar connections, that each such redemption or purchase has been authorized, and (ii) if
such redemption or purchase is to be effected by wire to or from a particular bank account,
a duly authorized employee of the bank verifies the account number to or from which funds
are being transferred, and that the name on the account is the same as the name of the
intended recipient of the proceeds;
or
It is further understood and agreed that, notwithstanding the Limit of Liability set forth herein
or any other provision of this Bond, the Limit of Liability with respect to any Single Loss caused
by an On-Line Transaction shall be Ten Million Dollars ($10,000,000) and the On-Line Deductible
with respect to Insuring Agreement I is Fifty Thousand Dollars ($50,000).
It is further understood and agreed that notwithstanding Section 8, Non-Reduction and
Non-Accumulation of Liability and Total Liability, or any other provision of this Bond, the
Aggregate Limit of Liability of the Underwriter under this Bond with respect to any and all loss or
losses caused by On-Line Transactions shall be an aggregate of Ten Million Dollars ($10,000,000)
for the Bond Period, irrespective of the total amount of such loss or losses.
For purposes of this Rider, the following terms shall have the following meanings:
On-Line Purchase means any purchase of shares issued by an Investment Company, which purchase is
requested by computer-to-computer transmissions over the Internet (including any connected or
associated intranet or extranet) or utilizing modem or similar connections.
26
On-Line Redemption means any redemption of shares issued by an Investment Company, which
redemption is requested by computer-to computer transmissions over the Internet (including any
connected or associated intranet or extranet) or utilizing modem or similar connections.
On-Line Transaction means any Phone/Electronic Transaction requested by computer-to-computer
transmissions over the Internet (including any connected or associated intranet or extranet) or
utilizing modem or similar connections.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN38.0-02 (8/02)
27
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 8
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration for the premium charged for this Bond, it is hereby understood and agreed that,
with respect to Insuring Agreement I only, the Deductible Amount set forth in Item 3 of the
Declarations (Phone/Electronic Deductible) shall not apply with respect to a Single Loss,
otherwise covered by Insuring Agreement I, caused by:
|
(1)
|
|
a Phone/Electronic Redemption requested to be paid or made payable by check to
the Shareholder of Record at the address of record; or
|
|
|
(2)
|
|
a Phone/Electronic Redemption requested to be paid or made payable by wire
transfer to the Shareholder of Records bank account of record,
|
provided
, that the Limit of Liability for a Single Loss as described in (1) or (2) above
shall be the lesser of 80% of such loss or $40,000 and that the Insured shall bear the remainder of
each such Loss. This Rider shall not apply if the application of the Phone/Electronic Deductible
to the Single Loss would result in coverage of greater than $40,000 or more; in such case the
Phone-initiated Deductible and Limit of Liability set forth in Item 3 of the Declarations shall
control.
For purposes of this Rider, Phone/Electronic Redemption means any redemption of shares issued by
an Investment Company, which redemption is requested (a) by voice over the telephone, (b) through
an automated telephone tone or voice response system, (c) by Telefacsimile, or (d) by
computer-to-computer transmission over the Internet (including any connected or associated intranet
or extranet) or utilizing modem or similar connections.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN39.0-02 (8/02)
28
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 9
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that
notwithstanding anything to the contrary in this Bond (including Insuring Agreement I), this Bond
does not cover loss caused by a Phone/Electronic Transaction requested:
|
|
|
by wireless device transmissions over the Internet (including any connected or
associated intranet or extranet),
|
except insofar as such loss is covered under Insuring Agreement A Fidelity of this Bond.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN48.0-00 (1/02)
29
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 10
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration for the premium charged for this Bond, it is hereby understood and agreed that
notwithstanding anything to the contrary in this Bond (including Insuring Agreement I), for
purposes of On-Line Transactions only, the third paragraph under EXCLUDING loss resulting from:
is hereby amended by adding the following at the end of the existing paragraph:
(iii) in the case of a pre-existing registered account of a Fund shareholder, a bank account
designated through a secured on-line form, provided that (aa) a 15-day hold is placed on all
redemptions for such a bank account designated on-line, and (bb) a written (hard-copy) confirmation
of such on-line designation is mailed to the shareholder(s) to whose account the account 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 on-line designation; or
For purposes of this Rider, the following term shall have the following meanings:
On-Line Transactions means Phone/Electronic Transactions requested by computer-to-computer
transmissions over the Internet (including any connected or associated intranet or extranet) or
utilizing modem or similar connections.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RNM72.0-00-096 (5/02)
30
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 11
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that
Section 5 of this Bond is amended to read as follows:
For all purposes under this Bond, a loss is discovered, and discovery of a loss occurs, when the
Legal Department of Van Kampen Investments Inc., the Chief Compliance Officer of Van Kampen Funds,
the Legal Department of Morgan Stanley or the Risk and Insurance Department of Morgan Stanley:
|
(1)
|
|
becomes aware of facts, or
|
|
|
(2)
|
|
receives 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 loss covered by this Bond has been or is
likely to be incurred even though the exact amount or details of loss may not be known.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RNM27.0.0-02-096 (12/96)
31
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 12
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
uthorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
Most property and casualty insurers, including ICI Mutual Insurance Company, a Risk Retention Group
(ICI Mutual), are subject to the requirements of the Terrorism Risk Insurance Act of 2002 (the
Act). The Act establishes a Federal insurance backstop under which ICI Mutual and these other
insurers will be partially reimbursed for future
insured losses
resulting from certified
acts of
terrorism.
(Each of these
bolded terms
is defined by the Act.) The Act also places certain
disclosure and other obligations on ICI Mutual and these other insurers.
Pursuant to the Act, any future losses to ICI Mutual caused by certified
acts of terrorism
will
be partially reimbursed by the United States government under a formula established by the Act.
Under this formula, the United States government will reimburse ICI Mutual for 90% of ICI Mutuals
insured losses
in excess of a statutorily established deductible until total insured losses of
all participating insurers reach $100 billion. If total insured losses of all property and
casualty insurers reach $100 billion during any applicable period, the Act provides that the
insurers will not be liable under their policies for their portions of such losses that exceed such
amount. Amounts otherwise payable under this bond may be reduced as a result.
This bond has no express exclusion for
acts of terrorism.
However, coverage under this bond
remains subject to all applicable terms, conditions and limitations of the bond (including
exclusions) that are permissible under the Act. The portion of the premium that is attributable to
any coverage potentially available under the bond for
acts of terrorism
is one percent (1%).
RN53.0-00 (3/03)
32
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 13
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that:
|
1.
|
|
In the event that a loss is covered under more than one bond issued to
Van Kampen Investments Inc. or any affiliates thereof issued by ICI Mutual
Insurance Company, the total liability of ICI Mutual Insurance Company under
all implicated bonds in combination shall not exceed the applicable Limit of
Liability of the largest of the implicated bonds. In no event shall the
applicable Limits of Liability of each of the implicated bonds be added
together or otherwise combined to determine the total liability of ICI Mutual
Insurance Company.
|
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RN23.0-01 (11/03)
33
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 14
|
|
|
|
|
|
insured
|
|
|
|
bond number
|
|
|
|
|
|
Van Kampen Investments Inc.
|
|
|
|
87096109B
|
|
effective date
|
|
bond period
|
|
authorized representative
|
|
|
|
|
|
June 5, 2009
|
|
June 5, 2009 to June 5, 2010
|
|
/S/ Maggie Sullivan
|
|
In consideration of the premium charged for this Bond, it is hereby understood and agreed that
Section 1.G shall be amended to read as follows:
Dishonest or Fraudulent Act means any dishonest or fraudulent act, including larceny and
embezzlement as defined in Section 37 of the Investment Company Act of 1940, committed with the
conscious manifest intent (1) to cause the Insured to sustain a loss or (2) to obtain financial
benefit for the perpetrator or any other person (other than salaries, commissions, fees,
bonuses, awards, profit sharing, pensions or other employee benefits). A Dishonest or Fraudulent
Act does not mean or include a reckless act, a negligent act, or a grossly negligent act.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of
this Bond.
RNM5.0-00-096 (1/02)
34
EXHIBIT 2
ASSISTANT SECRETARYS CERTIFICATE
OF THE
VAN KAMPEN FUNDS:
VAN KAMPEN U.S. MORTGAGE FUND,
a series of
VAN KAMPEN U.S. GOVERNMENT TRUST
;
VAN KAMPEN CALIFORNIA INSURED TAX FREE FUND,
VAN KAMPEN INSURED TAX FREE INCOME FUND,
VAN KAMPEN INTERMEDIATE TERM MUNICIPAL INCOME FUND,
VAN KAMPEN MUNICIPAL INCOME FUND,
VAN KAMPEN NEW YORK TAX FREE INCOME FUND,
VAN KAMPEN STRATEGIC MUNICIPAL INCOME FUND,
each being a series of
VAN KAMPEN TAX FREE TRUST
;
VAN KAMPEN CORE PLUS FIXED INCOME FUND,
each being a series of
VAN KAMPEN TRUST
;
VAN KAMPEN GLOBAL TACTICAL ASSET ALLOCATION FUND,
VAN KAMPEN GLOBAL BOND FUND,
each being a series of
VAN KAMPEN TRUST II
;
VAN KAMPEN MID CAP GROWTH FUND,
VAN KAMPEN SMALL CAP GROWTH FUND,
VAN KAMPEN SMALL CAP VALUE FUND,
VAN KAMPEN UTILITY FUND,
VAN KAMPEN VALUE OPPORTUNITIES FUND,
VAN KAMPEN LEADERS FUND,
VAN KAMPEN ASSET ALLOCATION CONSERVATIVE FUND,
VAN KAMPEN ASSET ALLOCATION MODERATE FUND,
VAN KAMPEN ASSET ALLOCATION GROWTH FUND,
VAN KAMPEN CORE EQUITY FUND,
VAN KAMPEN GLOBAL GROWTH FUND,
each being a series of
VAN KAMPEN EQUITY TRUST
;
VAN KAMPEN AMERICAN FRANCHISE FUND,
VAN KAMPEN TECHNOLOGY FUND,
VAN KAMPEN INTERNATIONAL ADVANTAGE FUND,
VAN KAMPEN INTERNATIONAL GROWTH FUND,
VAN KAMPEN EQUITY PREMIUM INCOME FUND,
VAN KAMPEN CORE GROWTH FUND,
each being a series of
VAN KAMPEN EQUITY TRUST II
;
VAN KAMPEN OSHAUGHNESSY LARGE CAP GROWTH FUND
VAN KAMPEN OSHAUGHNESSY ALL CAP CORE FUND
VAN KAMPEN OSHAUGHNESSY ENHANCED DIVIDEND FUND
VAN KAMPEN OSHAUGHNESSY SMALL / MID CAP GROWTH FUND
VAN KAMPEN OSHAUGHNESSY GLOBAL FUND
VAN KAMPEN OSHAUGHNESSY INTERNATIONAL FUND
each a series of
VAN KAMPEN PARTNERS TRUST
1
VAN KAMPEN PENNSYLVANIA TAX FREE INCOME FUND;
VAN KAMPEN TAX FREE MONEY FUND;
VAN KAMPEN COMSTOCK FUND;
VAN KAMPEN CORPORATE BOND FUND;
VAN KAMPEN ENTERPRISE FUND;
VAN KAMPEN EQUITY AND INCOME FUND;
VAN KAMPEN EXCHANGE FUND;
VAN KAMPEN LIMITED DURATION FUND;
VAN KAMPEN GOVERNMENT SECURITIES FUND;
VAN KAMPEN GROWTH AND INCOME FUND;
VAN KAMPEN HARBOR FUND;
VAN KAMPEN HIGH YIELD FUND;
MID CAP GROWTH PORTFOLIO,
COMSTOCK PORTFOLIO,
CAPITAL GROWTH PORTFOLIO,
GLOBAL TACTICAL ASSET ALLOCATION PORTFOLIO,
GOVERNMENT PORTFOLIO,
GROWTH AND INCOME PORTFOLIO,
MONEY MARKET PORTFOLIO,
each being a portfolio of
VAN KAMPEN LIFE INVESTMENT TRUST
;
VAN KAMPEN CAPITAL GROWTH FUND;
VAN KAMPEN REAL ESTATE SECURITIES FUND;
VAN KAMPEN MONEY MARKET FUND;
VAN KAMPEN HIGH YIELD MUNICIPAL FUND,
a series of
VAN KAMPEN TAX-EXEMPT TRUST
;
VAN KAMPEN 2050 RETIREMENT STRATEGY FUND
VAN KAMPEN 2045 RETIREMENT STRATEGY FUND
VAN KAMPEN 2040 RETIREMENT STRATEGY FUND
VAN KAMPEN 2035 RETIREMENT STRATEGY FUND
VAN KAMPEN 2030 RETIREMENT STRATEGY FUND
VAN KAMPEN 2025 RETIREMENT STRATEGY FUND
VAN KAMPEN 2020 RETIREMENT STRATEGY FUND
VAN KAMPEN 2015 RETIREMENT STRATEGY FUND
VAN KAMPEN 2010 RETIREMENT STRATEGY FUND
VAN KAMPEN IN RETIREMENT STRATEGY FUND
each of a series of
VAN KAMPEN RETIREMENT STRATEGY TRUST
VAN KAMPEN AMERICAN VALUE FUND;
VAN KAMPEN EMERGING MARKETS FUND;
VAN KAMPEN EQUITY GROWTH FUND;
VAN KAMPEN GLOBAL EQUITY ALLOCATION FUND;
VAN KAMPEN GLOBAL VALUE EQUITY FUND;
VAN KAMPEN GLOBAL FRANCHISE FUND;
each a series of
VAN KAMPEN SERIES FUND, INC
.
VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II;
VAN KAMPEN BOND FUND;
VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST;
VAN KAMPEN HIGH INCOME TRUST II;
VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST;
VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST;
|
|
|
*
|
|
has not yet commenced investment operations
|
2
VAN KAMPEN MUNICIPAL TRUST;
VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST;
VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST;
VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST;
VAN KAMPEN SENIOR LOAN FUND;
VAN KAMPEN SENIOR INCOME TRUST;
VAN KAMPEN TRUST FOR INSURED MUNICIPALS;
VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS;
VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS;
VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS;
VAN KAMPEN DYNAMIC CREDIT OPPORTUNITIES FUND
The undersigned hereby certifies that, as of the date of this Certificate: (a) she is a duly
elected Assistant Secretary of each of the above referenced Trusts (the Trusts), (b) she has
custody and control of the Trusts seals and the Trusts records, including the minutes of meetings
of said Trusts; and (c) the following resolutions were adopted on behalf of each Trusts respective
investment companies (individually a Fund and collectively the Funds), agreed by the Board of
Trustees/Directors and Managing General Partners of the Van Kampen Funds, at a meeting held on May
20, 2009, by a majority the Board, including a majority of the members of the Board who are not
interested persons, said resolutions are in full force and effect and have not been modified,
altered or superseded by any subsequent action. No action has been taken with reference to the
matters referred to in said resolutions, except as therein reflected and said resolutions are the
only resolutions adopted by the Board of Trustees/Directors and Managing General Partners of each
of the respective Trusts with reference to the matters contained therein. Further, said resolutions
are in conformity with the Declaration of Trust or Articles of Incorporation, as applicable, and
the By-Laws of each of the Trusts.
Joint Directors and Officers Errors and Omissions Policy
RESOLVED
, that the Trustees, including those Trustees who are not
interested persons of each Fund within the meaning of the Investment
Company Act hereby determine that, in accordance with Section 17(d) of
the Investment Company Act and Rule 17d-1(d)(7) thereunder, each Funds
Participation in the Joint Directors and Officers Errors and Omissions
Policy (Joint DO/EO Policy) with a commercial insurance group as
discussed at the meeting for the one-year period commencing June 5, 2009
be, and it hereby is, deemed to be in the best interests of each
respective Fund; and be it
FURTHER RESOLVED
, that the Trustees, including those Trustees who are not
interested persons of each Fund within the meaning of the Investment
Company Act, hereby determine that, in accordance with Section 17(d) of
the Investment Company Act and Rule 17d-1(d)(7) thereunder, the payment
for each respective Fund of the premium for the Joint DO/EO Policy as set
forth in the payment provision of the Joint DO/EO Policy Agreement (the
Joint Policy Agreement) be, and it hereby is, deemed to be fair and
reasonable to each respective Fund and its shareholders; and be it
FURTHER RESOLVED
, that the officers of each respective Fund be, and they
hereby are, authorized in the name and on behalf of such Fund to execute
and deliver to each party to the proposed Joint DO/EO Policy and the
Joint Policy Agreement, substantially in the same forms and content as
previously submitted to the Trustees, with such changes therein as such
officers, upon advice of counsel, shall determine to be necessary,
appropriate or desirable, and such determination to be conclusively
evidenced by the execution and delivery of the Joint DO/EO Policy and the
Joint Policy Agreement.
Joint Fidelity Bond
RESOLVED
, that the Trustees, including those Trustees who are not
interested persons of each Fund within the meaning of the Investment
Company Act, hereby determine that, in accordance with Section 17(g) of
the Investment Company Act and Rule 17g-1 thereunder, each Funds
participation in the Joint Fidelity Bond (the Joint Fidelity Bond) with
ICI
|
|
|
*
|
|
has not yet commenced investment operations
|
3
Mutual in the amount of $45 million in coverage for the one-year period
commencing June 5, 2009 be, and it hereby is, deemed to be in the best
interests of each respective Fund; and be it
FURTHER RESOLVED
, that the Trustees, including those Trustees who are not
interested persons of each Fund within the meaning of the Investment
Company Act, have determined that, in accordance with Section 17(g) of
the Investment Company Act and Rule 17g-1 thereunder, the payment for
each respective Fund of the premium for the Joint Fidelity Bond as set
forth in the payment provision of the Joint Fidelity Bond Agreement (the
Joint Bond Agreement) be, and hereby is, deemed to be fair and
reasonable to each respective Fund and its shareholders; and be it
FURTHER RESOLVED
, that the Trustees, including those Trustees who are not
interested persons of the Funds within the meaning of the Investment
Company Act, hereby agree with the other insureds covered by the Joint
Fidelity Bond that in the event recovery is received under the Joint
Fidelity Bond as a result of a loss sustained by any of the Funds and one
or more other named insureds, each respective Fund shall receive an
equitable and proportionate share of the recovery, and in an amount at
least equal to the amount which it would have received had it provided
and maintained a single insured bond with the minimum amount of coverage
required under Rule 17g-1 under the Investment Company Act; and be it
FURTHER RESOLVED
, that the officers of each respective Fund be, and they
hereby are, authorized in the name and on behalf of such Fund to execute
and deliver to each party to the proposed Joint Fidelity Bond and Joint
Bond Agreement, substantially in the same form and content as previously
submitted to the Trustees, with such changes therein as such officers,
upon advice of counsel, shall determine to be necessary, appropriate or
desirable, and such determination to be conclusively evidenced by the
execution and delivery of the Joint Fidelity Bond and Joint Bond
Agreement; and be it
FURTHER RESOLVED
, that the officers of each respective Fund be, and they
hereby are, authorized in the name and on behalf of such Fund to make all
filings with the Securities and Exchange Commission or other regulatory
entities as required and give all notices on behalf of such Fund with
respect to the Joint Fidelity Bond and the Joint Bond Agreement; and be
it
FURTHER RESOLVED
, that the officers of the Fund be and they hereby are
authorized to obtain the letter of credit through Morgan Stanleys Equity
Financing Services Group Department and in that regard to negotiate and
enter into such agreements as they deem necessary or appropriate to
obtain such letter of credit.
Broker Fee and Insurance Premium Allocations
RESOLVED,
that the Trustees, including those Trustees who are not
interested persons of each Fund within the meaning of the Investment
Company Act hereby approve the payment of a broker fee for placement of
the DO/EO policy among various insurance companies, the payment of which
will be allocated 43.3% payable by the Funds and 56.7% payable by the
Adviser; and
FURTHER RESOLVED
, that the Trustees, including those Trustees who are not
interested persons of each Fund within the meaning of the Investment
Company Act, hereby determine that the premium allocation of 43.3%
payable by the Funds and 56.7% payable by the Adviser for the $100
million Joint DO/EO policy and the fidelity bond be, and it hereby is,
deemed to be fair and reasonable to each respective Fund and its
shareholders;
|
|
|
*
|
|
has not yet commenced investment operations
|
4
Joint DO/EO Policy Excess Layer
RESOLVED,
that the excess insurance layer in the amount of $10 million,
as discussed at this meeting, of the D&O/E&O Policy previously approved
by the Board of Trustees/Directors and Managing General Partners of the
Van Kampen Funds, be, and it hereby is, approved on behalf of the
independent trustees and Mr. Whalen, with the premium for such excess
layer to be borne by the Funds.
General Authorization
RESOLVED
, that the officers of the Funds be, and each of them hereby is,
authorized and directed, in the name and on behalf of each Fund, to take
all actions to cause to be prepared and filed all other documents, to
make all expenditures and to execute all instruments by them to be
necessary or desirable in carrying out the purposes of the foregoing
resolutions, including, without limitation, the employment or retention
of all such counsel, accountants and experts as may be deemed advisable
by them, and the taking of such actions, the execution and filing or
delivery of such documents, and the performance of such acts by them
shall be conclusive evidence of their approval thereof and the approval
thereof and the authority therefor by and from each Fund.
IN WITNESS WHEREOF, the undersigned has hereunto set his hand as Assistant Secretary of each
respective Trust this 29th day of July, 2009.
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Elizabeth Nelson
Elizabeth Nelson
|
|
|
|
|
|
|
Assistant Secretary
|
|
|
|
|
|
*
|
|
has not yet commenced investment operations
|
5
EXHIBIT 3
JOINT FIDELITY BOND
A G R E E M E N T
AGREEMENT, dated as of June 5, 2003, by and between the parties as set forth in Schedule 1,
attached hereto and incorporated by reference, Van Kampen Investment Advisory Corp., Van Kampen
Asset Management Inc., Van Kampen Investments Inc., Van Kampen Investor Services Inc., Van Kampen
Funds Inc., Van Kampen Advisors Inc., Van Kampen Exchange Corp., Morgan Stanley Investment
Management Inc., Morgan Stanley Investments LP, Morgan Stanley Asset & Investment Trust Management
Co., Ltd., Morgan Stanley Investment Management Co., and Morgan Stanley Investment Management Ltd.
In consideration of the mutual agreements set forth below, and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows:
1. The parties agree to obtain an Investment Companies Joint Fidelity Bond from an insurer or
group of insurers, as required by the Securities and Exchange Commission (the Commission)
pursuant to Rule 17g-1 (the Rule) under Section 17(g) of the Investment Company Act of 1940, as
amended, in an amount equal to at least the sum of the minimum fidelity bonds required for each of
them from time to time under the Rule.
2. The parties agree that each party shall pay that proportion of the total annual premium for
such joint bond equal to the proportion that the gross assets of such party (with consideration to
its individual series, if any) bear to the aggregate of the gross assets of the parties (with
consideration to their individual series, if any) at the annual renewal of the joint fidelity bond.
3. The parties agree that any increase in the total premium of the joint fidelity bond shall
be paid by the party or parties whose increase in gross assets has resulted in such premium
increase.
4. The parties agree that if any recovery is received under such bond as a result of a loss
sustained by each of the parties, each party shall receive an equitable and proportionate share of
the recovery equal at least to the amount it would have received if it had maintained a separate
fidelity bond in an amount equal to the minimum fidelity bond required for it from time to time
under the Rule.
5. Each party shall file a copy of this Agreement and any amendment hereto with the Commission
in accordance with the requirements of the Rule.
6. This Agreement shall supersede any prior agreement between the parties.
Disclaimer of Liability
. Notwithstanding anything to the contrary contained in this
Agreement, the parties hereto acknowledge and agree that this Agreement is executed by the
Directors, Trustees and/or Officers of each entity by them not individually but as such Directors,
Trustees and/or Officers of each entity, and the obligations hereunder are not binding upon any of
the Directors, Trustees, Officers or Shareholders individually but bind only the estate of such
entity.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by duly
authorized officers as of the date first stated above.
1
ALL OF THE PARTIES SET FORTH IN SCHEDULE 1
ATTACHED HERETO
|
|
|
|
|
By:
|
|
/s/ A. Thomas Smith III
A. Thomas Smith III
|
|
|
|
|
Vice President and Secretary
|
|
|
|
|
|
|
|
VAN KAMPEN INVESTMENT ADVISORY CORP.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
VAN KAMPEN ASSET MANAGEMENT INC.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
VAN KAMPEN INVESTMENTS INC.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
VAN KAMPEN INVESTOR SERVICES INC.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Carsten Otto
|
|
|
|
|
|
|
|
|
|
Carsten Otto
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
VAN KAMPEN FUNDS INC.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
VAN KAMPEN ADVISORS INC.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Secretary
|
|
|
2
|
|
|
|
|
VAN KAMPEN EXCHANGE CORP.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
Morgan Stanley Investment Management Inc.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Stefanie Chang Yu
|
|
|
|
|
|
|
|
|
|
Stefanie Chang Yu
|
|
|
|
|
Executive Director and Assistant Secretary
|
|
|
|
|
|
|
|
Morgan Stanley Investments LP
|
|
|
|
|
|
|
|
By:
|
|
/s/ A. Thomas Smith III
|
|
|
|
|
|
|
|
|
|
A. Thomas Smith III
|
|
|
|
|
Managing Director and Assistant Secretary
|
|
|
|
|
|
|
|
Morgan Stanley Asset & Investment Trust Management Co., Ltd.
|
|
|
|
|
|
|
|
By:
|
|
/s/ John R. Alkire
|
|
|
|
|
|
|
|
|
|
John R. Alkire
|
|
|
|
|
Representative Director, President
|
|
|
|
|
|
|
|
Morgan Stanley Investment Management Co.
|
|
|
|
|
|
|
|
By:
|
|
/s/ Jeffrey Alam
|
|
|
|
|
|
|
|
|
|
Jeffrey Alam
|
|
|
|
|
Director
|
|
|
|
|
|
|
|
Morgan Stanley Investment Management Ltd.
|
|
|
|
|
|
|
|
By:
|
|
/s/Robert Sargent
|
|
|
|
|
|
|
|
|
|
Robert Sargent
|
|
|
|
|
Managing Director
|
|
|
|
|
|
|
|
EXECUTED IN COUNTERPART.
|
|
|
3
SCHEDULE 1
|
|
|
|
|
|
1.
|
|
|
Van Kampen U.S. Government Trust
, on behalf of its series
|
|
|
|
|
Van Kampen U.S. Government Fund
|
|
|
|
|
|
|
2.
|
|
|
Van Kampen Tax Free Trust
, on behalf of its series
|
|
|
|
|
Van Kampen Insured Tax Free Income Fund
|
|
|
|
|
Van Kampen Strategic Municipal Income Fund
|
|
|
|
|
Van Kampen California Insured Tax Free Fund
|
|
|
|
|
Van Kampen Municipal Income Fund
|
|
|
|
|
Van Kampen Intermediate Term Municipal Income Fund
|
|
|
|
|
Van Kampen New York Tax Free Income Fund
|
|
|
|
|
Van Kampen California Municipal Income Fund
|
|
|
|
|
Van Kampen Michigan Tax Free Income Fund
|
|
|
|
|
Van Kampen Missouri Tax Free Income Fund
|
|
|
|
|
Van Kampen Ohio Tax Free Income Fund
|
|
|
|
|
|
|
3.
|
|
|
Van Kampen Trust
, on behalf of its series
|
|
|
|
|
Van Kampen Managed Short Term Income Fund
|
|
|
|
|
Van Kampen Core Plus Fixed Income Fund
|
|
|
|
|
Van Kampen Inflation-Linked Fixed Income Fund
|
|
|
|
|
|
|
4.
|
|
|
Van Kampen Equity Trust
, on behalf of its series
|
|
|
|
|
Van Kampen Utility Fund
|
|
|
|
|
Van Kampen Mid Cap Growth Fund
|
|
|
|
|
Van Kampen Small Cap Value Fund
|
|
|
|
|
Van Kampen Small Company Growth Fund
|
|
|
|
|
Van Kampen Select Growth Fund
|
|
|
|
|
Van Kampen Small Cap Growth Fund
|
|
|
|
|
Van Kampen Value Opportunities Fund
|
|
|
|
|
Van Kampen Leaders Fund
|
|
|
|
|
Van Kampen Asset Allocation Conservative Fund
|
|
|
|
|
Van Kampen Asset Allocation Moderate Fund
|
|
|
|
|
Van Kampen Asset Allocation Growth Fund
|
|
|
|
|
Van Kampen Core Equity Fund
|
|
|
|
|
Van Kampen Global Growth Fund
|
|
|
|
|
|
|
5.
|
|
|
Van Kampen Pennsylvania Tax Free Income Fund
|
|
|
|
|
|
|
6.
|
|
|
Van Kampen Tax Free Money Fund
|
|
|
|
|
|
|
7.
|
|
|
Van Kampen High Income Trust II
|
|
|
|
|
|
|
8.
|
|
|
Van Kampen Senior Loan Fund
|
|
|
|
|
|
|
9.
|
|
|
Van Kampen Senior Income Trust
|
|
|
|
|
|
|
10.
|
|
|
Van Kampen Municipal Trust
|
|
|
|
|
|
|
11.
|
|
|
Van Kampen Ohio Quality Municipal Trust
|
|
|
|
|
|
|
12.
|
|
|
Van Kampen Trust For Insured Municipals
|
|
|
|
|
|
|
13.
|
|
|
Van Kampen Trust For Investment Grade Municipals
|
|
|
|
|
|
|
14.
|
|
|
Van Kampen Trust For Investment Grade New Jersey Municipals
|
|
|
|
|
|
|
15.
|
|
|
Van Kampen Trust For Investment Grade New York Municipals
|
4
|
|
|
|
|
|
16.
|
|
|
Van Kampen Municipal Opportunity Trust
|
|
|
|
|
|
|
17.
|
|
|
Van Kampen California Value Municipal Income Trust
|
|
|
|
|
|
|
18.
|
|
|
Van Kampen Massachusetts Value Municipal Income Trust
|
|
|
|
|
|
|
19.
|
|
|
Van Kampen Pennsylvania Value Municipal Income Trust
|
|
|
|
|
|
|
20.
|
|
|
Van Kampen Advantage Municipal Income Trust II
|
|
|
|
|
|
|
21.
|
|
|
Van Kampen Select Sector Municipal Trust
|
|
|
|
|
|
|
22.
|
|
|
Van Kampen Comstock Fund
|
|
|
|
|
|
|
23.
|
|
|
Van Kampen Corporate Bond Fund
|
|
|
|
|
|
|
24.
|
|
|
Van Kampen Enterprise Fund
|
|
|
|
|
|
|
25.
|
|
|
Van Kampen Equity and Income Fund
|
|
|
|
|
|
|
26.
|
|
|
Van Kampen Limited Duration Fund
|
|
|
|
|
|
|
27.
|
|
|
Van Kampen Government Securities Fund
|
|
|
|
|
|
|
28.
|
|
|
Van Kampen Growth and Income Fund
|
|
|
|
|
|
|
29.
|
|
|
Van Kampen Harbor Fund
|
|
|
|
|
|
|
30.
|
|
|
Van Kampen High Yield Fund
|
|
|
|
|
|
|
31.
|
|
|
Van Kampen Life Investment Trust
, on behalf of its series
|
|
|
|
|
Mid Cap Growth Portfolio
|
|
|
|
|
Comstock Portfolio
|
|
|
|
|
Global Tactical Asset Allocation Portfolio
|
|
|
|
|
Capital Growth Portfolio
|
|
|
|
|
Government Portfolio
|
|
|
|
|
Growth and Income Portfolio
|
|
|
|
|
Money Market Portfolio
|
|
|
32.
|
|
|
Van Kampen Capital Growth Fund
|
|
|
|
|
|
|
33.
|
|
|
Van Kampen Real Estate Securities Fund
|
|
|
|
|
|
|
34.
|
|
|
Van Kampen Money Market Fund
|
|
|
|
|
|
|
35.
|
|
|
Van Kampen Tax-Exempt Trust,
on behalf of its series
|
|
|
|
|
Van Kampen High Yield Municipal Fund
|
|
|
|
|
|
|
36.
|
|
|
Van Kampen Equity Trust II
, on behalf of its series
|
|
|
|
|
Van Kampen International Advantage Fund
|
|
|
|
|
Van Kampen Technology Fund
|
|
|
|
|
Van Kampen American Franchise Fund
|
|
|
|
|
Van Kampen International Growth Fund
|
|
|
|
|
Van Kampen Equity Premium Income Fund
|
|
|
|
|
|
|
37.
|
|
|
Van Kampen Series Fund, Inc.,
on behalf of its series
|
|
|
|
|
Van Kampen Emerging Markets Debt Fund
|
5
|
|
|
|
|
|
|
|
|
Van Kampen American Value Fund
|
|
|
|
|
Van Kampen Equity Growth Fund
|
|
|
|
|
Van Kampen Global Equity Allocation Fund
|
|
|
|
|
Van Kampen Global Value Equity Fund
|
|
|
|
|
Van Kampen Emerging Markets Fund
|
|
|
|
|
Van Kampen Growth & Income Fund II
|
|
|
|
|
Van Kampen Global Franchise Fund
|
|
|
|
|
|
|
38.
|
|
|
Van Kampen Bond Fund
|
|
|
|
|
|
|
39.
|
|
|
Van Kampen Exchange Fund
|
|
|
|
|
|
|
40.
|
|
|
Van Kampen Dynamic Credit Opportunities Fund
|
|
|
|
|
|
|
41.
|
|
|
Van Kampen Retirement Series Trust,
on behalf of its series
|
|
|
|
|
Van Kampen 2050 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2045 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2040 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2035 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2030 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2025 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2020 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2015 Retirement Strategy Fund
|
|
|
|
|
Van Kampen 2010 Retirement Strategy Fund
|
|
|
|
|
Van Kampen In Retirement Strategy Fund
|
|
|
|
|
|
|
42.
|
|
|
Van Kampen Partners Trust,
on behalf of its series
|
|
|
|
|
Van Kampen OShaughnessy Large Cap Growth Fund
|
|
|
|
|
Van Kampen OShaughnessy All Cap Core Fund
|
|
|
|
|
Van Kampen OShaughnessy Enhanced Dividend Fund
|
|
|
|
|
Van Kampen OShaughnessy Small / Mid Cap Growth Fund
|
|
|
|
|
Van Kampen OShaughnessy Global Fund
|
|
|
|
|
Van Kampen OShaughnessy International Fund
|
|
|
|
|
|
|
43.
|
|
|
Van Kampen Trust II,
on behalf of its series
|
|
|
|
|
Van Kampen Global Tactical Asset Allocation Fund
|
|
|
|
|
Van Kampen Global Bond Fund
|
6
Exhibit 4
|
REVIEW OF FIDELITY BOND COVERAGE
June 30, 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GROSS ASSETS
|
|
|
GROSS ASSETS
|
|
|
MINIMUM
|
|
|
|
PORTFOLIO
|
|
|
REGISTRANT
|
|
|
COVERAGE
|
|
INVESTMENT COMPANY
|
|
(in mils)
|
|
|
(in mils)
|
|
|
REQUIRED
|
|
VAN KAMPEN FUNDS
|
|
|
|
|
|
|
|
|
|
|
|
|
Van Kampen U.S. Government Trust
|
|
|
|
|
|
|
1,174.3
|
|
|
|
1,000,000
|
|
US Mortgage Fund
|
|
|
1,174.3
|
|
|
|
|
|
|
|
|
|
Van Kampen Tax Free Trust
|
|
|
|
|
|
|
3,019.30
|
|
|
|
1,900,000
|
|
California Insured Tax Free Fund
|
|
|
179.8
|
|
|
|
|
|
|
|
|
|
California Municipal Income Fund*
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Insured Tax Free Income Fund
|
|
|
849.7
|
|
|
|
|
|
|
|
|
|
Intermediate Term Muni Income Fund
|
|
|
236.5
|
|
|
|
|
|
|
|
|
|
Municipal Income Fund
|
|
|
638.3
|
|
|
|
|
|
|
|
|
|
New York Tax Free Income Fund
|
|
|
97.7
|
|
|
|
|
|
|
|
|
|
Strategic Municipal Income Fund
|
|
|
1,017.3
|
|
|
|
|
|
|
|
|
|
Van Kampen Trust
|
|
|
|
|
|
|
339.7
|
|
|
|
600,000
|
|
Core Plus Fixed Income Fund
|
|
|
339.7
|
|
|
|
|
|
|
|
|
|
Managed Short Term Income Fund
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Inflation-Linked Fixed Income Fund
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Van Kampen Trust II
|
|
|
|
|
|
|
48.0
|
|
|
|
300,000
|
|
Global Bond Fund
|
|
|
25.4
|
|
|
|
|
|
|
|
|
|
Global Tactical Asset Allocation Fund
|
|
|
22.6
|
|
|
|
|
|
|
|
|
|
Van Kampen Equity Trust
|
|
|
|
|
|
|
3,683.2
|
|
|
|
2,100,000
|
|
Asset Allocation Conservative Fund
|
|
|
103.6
|
|
|
|
|
|
|
|
|
|
Asset Allocation Moderate Fund
|
|
|
193.0
|
|
|
|
|
|
|
|
|
|
Asset Allocation Growth Fund
|
|
|
124.9
|
|
|
|
|
|
|
|
|
|
Core Equity Fund
|
|
|
34.7
|
|
|
|
|
|
|
|
|
|
Global Growth Fund
|
|
|
5.6
|
|
|
|
|
|
|
|
|
|
Leaders Fund
|
|
|
193.7
|
|
|
|
|
|
|
|
|
|
Mid Cap Growth Fund
|
|
|
1,483.5
|
|
|
|
|
|
|
|
|
|
Small Cap Growth Fund
|
|
|
751.1
|
|
|
|
|
|
|
|
|
|
Small Company Growth Fund*
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Small Cap Value Fund
|
|
|
477.7
|
|
|
|
|
|
|
|
|
|
Utility Fund
|
|
|
207.5
|
|
|
|
|
|
|
|
|
|
Value Opportunities Fund
|
|
|
107.9
|
|
|
|
|
|
|
|
|
|
Van Kampen Equity Trust II
|
|
|
|
|
|
|
1,420.5
|
|
|
|
1,000,000
|
|
American Franchise Fund
|
|
|
229.2
|
|
|
|
|
|
|
|
|
|
Core Growth Fund
|
|
|
4.4
|
|
|
|
|
|
|
|
|
|
Equity Premium Income Fund
|
|
|
200.6
|
|
|
|
|
|
|
|
|
|
International Advantage Fund
|
|
|
64.4
|
|
|
|
|
|
|
|
|
|
International Growth Fund
|
|
|
803.2
|
|
|
|
|
|
|
|
|
|
Technology Fund
|
|
|
118.7
|
|
|
|
|
|
|
|
|
|
Van Kampen Series Fund, Inc.
|
|
|
|
|
|
|
2,504.5
|
|
|
|
1,700,000
|
|
American Value Fund
|
|
|
478.4
|
|
|
|
|
|
|
|
|
|
Emerging Markets Debt Fund*
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Emerging Markets Fund
|
|
|
312.7
|
|
|
|
|
|
|
|
|
|
Equity Growth Fund
|
|
|
278.0
|
|
|
|
|
|
|
|
|
|
Global Equity Allocation Fund
|
|
|
198.2
|
|
|
|
|
|
|
|
|
|
Global Franchise Fund
|
|
|
1,068.9
|
|
|
|
|
|
|
|
|
|
Global Value Equity Fund
|
|
|
168.3
|
|
|
|
|
|
|
|
|
|
Growth and Income Fund II*
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Japanese Equity Fund*
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Van Kampen Life Investment Trust
|
|
|
|
|
|
|
4,297.8
|
|
|
|
2,300,000
|
|
LIT Mid Cap Growth Portfolio
|
|
|
33.0
|
|
|
|
|
|
|
|
|
|
LIT Comstock Portfolio
|
|
|
2,228.8
|
|
|
|
|
|
|
|
|
|
LIT Capital Growth Portfolio
|
|
|
147.7
|
|
|
|
|
|
|
|
|
|
LIT- Global Tactical Asset Allocation Portfolio
|
|
|
49.9
|
|
|
|
|
|
|
|
|
|
LIT Government Portfolio
|
|
|
399.5
|
|
|
|
|
|
|
|
|
|
LIT Growth and Income Portfolio
|
|
|
1,369.4
|
|
|
|
|
|
|
|
|
|
LIT Money Market Portfolio
|
|
|
69.5
|
|
|
|
|
|
|
|
|
|
Van Kampen Tax-Exempt Trust
|
|
|
|
|
|
|
4,002.3
|
|
|
|
2,300,000
|
|
High Yield Municipal Fund
|
|
|
4,002.3
|
|
|
|
|
|
|
|
|
|
Van Kampen Retirement Strategy Trust
|
|
|
|
|
|
|
29.6
|
|
|
|
250,000
|
|
2050 Retirement Strategy Fund
|
|
|
0.9
|
|
|
|
|
|
|
|
|
|
2045 Retirement Strategy Fund
|
|
|
0.9
|
|
|
|
|
|
|
|
|
|
2040 Retirement Strategy Fund
|
|
|
1.2
|
|
|
|
|
|
|
|
|
|
2035 Retirement Strategy Fund
|
|
|
1.8
|
|
|
|
|
|
|
|
|
|
2030 Retirement Strategy Fund
|
|
|
3.3
|
|
|
|
|
|
|
|
|
|
2025 Retirement Strategy Fund
|
|
|
4.1
|
|
|
|
|
|
|
|
|
|
2020 Retirement Strategy Fund
|
|
|
4.4
|
|
|
|
|
|
|
|
|
|
2015 Retirement Strategy Fund
|
|
|
5.8
|
|
|
|
|
|
|
|
|
|
2010 Retirement Strategy Fund
|
|
|
3.6
|
|
|
|
|
|
|
|
|
|
In Retirement Strategy Fund
|
|
|
3.6
|
|
|
|
|
|
|
|
|
|
REVIEW OF FIDELITY BOND COVERAGE
June 30, 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GROSS ASSETS
|
|
|
GROSS ASSETS
|
|
|
MINIMUM
|
|
|
|
PORTFOLIO
|
|
|
REGISTRANT
|
|
|
COVERAGE
|
|
INVESTMENT COMPANY
|
|
(in mils)
|
|
|
(in mils)
|
|
|
REQUIRED
|
|
Van Kampen Partners Trust
|
|
|
|
|
|
|
12.7
|
|
|
|
175,000
|
|
All Cap Core Fund
|
|
|
1.3
|
|
|
|
|
|
|
|
|
|
Enhanced Dividend Fund
|
|
|
1.5
|
|
|
|
|
|
|
|
|
|
Global Fund
|
|
|
3.5
|
|
|
|
|
|
|
|
|
|
International Fund
|
|
|
3.7
|
|
|
|
|
|
|
|
|
|
Large Cap Core Fund
|
|
|
1.3
|
|
|
|
|
|
|
|
|
|
Small/Mid Cap Growth Fund
|
|
|
1.4
|
|
|
|
|
|
|
|
|
|
Comstock Fund
|
|
|
|
|
|
|
7,395.3
|
|
|
|
2,500,000
|
|
Corporate Bond Fund
|
|
|
|
|
|
|
769.4
|
|
|
|
900,000
|
|
Enterprise Fund
|
|
|
|
|
|
|
700.4
|
|
|
|
750,000
|
|
Equity and Income Fund
|
|
|
|
|
|
|
10,914.3
|
|
|
|
2,500,000
|
|
Exchange Fund
|
|
|
|
|
|
|
56.1
|
|
|
|
350,000
|
|
Government Securities Fund
|
|
|
|
|
|
|
1,295.1
|
|
|
|
1,000,000
|
|
Growth & Income Fund
|
|
|
|
|
|
|
5,216.7
|
|
|
|
2,500,000
|
|
Harbor Fund
|
|
|
|
|
|
|
246.6
|
|
|
|
525,000
|
|
High Yield Fund
|
|
|
|
|
|
|
461.0
|
|
|
|
600,000
|
|
Limited Duration
|
|
|
|
|
|
|
121.9
|
|
|
|
450,000
|
|
Capital Growth Fund (FKA Pace Fund)
|
|
|
|
|
|
|
2,940.5
|
|
|
|
1,700,000
|
|
Pennsylvania Tax Free Income Fund
|
|
|
|
|
|
|
142.4
|
|
|
|
450,000
|
|
Real Estate Securities Fund
|
|
|
|
|
|
|
260.6
|
|
|
|
600,000
|
|
Money Market Fund (FKA Reserve Fund)
|
|
|
|
|
|
|
798.0
|
|
|
|
900,000
|
|
Tax Free Money Fund
|
|
|
|
|
|
|
30.3
|
|
|
|
250,000
|
|
Advantage Municipal Income Trust II (VKI)
|
|
|
|
|
|
|
882.2
|
|
|
|
900,000
|
|
Bond Fund
|
|
|
|
|
|
|
205.6
|
|
|
|
525,000
|
|
California Value Municipal Income Trust (VCV)
|
|
|
|
|
|
|
380.1
|
|
|
|
600,000
|
|
Debt Opportunity Fund
|
|
|
|
|
|
|
0.0
|
|
|
|
50,000
|
|
Dynamic Credit Opportunities Fund (VTA)
|
|
|
|
|
|
|
1,050.1
|
|
|
|
1,000,000
|
|
High Income Trust II (VLT)
|
|
|
|
|
|
|
82.0
|
|
|
|
400,000
|
|
Massachusettes Value Municipal Income Trust (VMV)
|
|
|
|
|
|
|
50.3
|
|
|
|
350,000
|
|
Municipal Opportunity High Income Fund
|
|
|
|
|
|
|
0.0
|
|
|
|
50,000
|
|
Municipal Opportunity Trust (VMO)
|
|
|
|
|
|
|
739.1
|
|
|
|
750,000
|
|
Municipal Trust (VKQ)
|
|
|
|
|
|
|
705.7
|
|
|
|
750,000
|
|
Ohio Quality Municipal Trust (VOQ)
|
|
|
|
|
|
|
130.1
|
|
|
|
450,000
|
|
Pennsylvania Value Municipal Income Trust (VPV)
|
|
|
|
|
|
|
477.0
|
|
|
|
600,000
|
|
Select Sector Municipal Trust (VKL)
|
|
|
|
|
|
|
256.0
|
|
|
|
600,000
|
|
Senior Loan Fund
|
|
|
|
|
|
|
1,159.7
|
|
|
|
1,000,000
|
|
Senior Income Trust (VVR)
|
|
|
|
|
|
|
1,132.8
|
|
|
|
1,000,000
|
|
Trust for Insured Municipals (VIM)
|
|
|
|
|
|
|
205.5
|
|
|
|
525,000
|
|
Trust for Investment Grade Municipals (VGM)
|
|
|
|
|
|
|
1,201.8
|
|
|
|
1,000,000
|
|
Trust for Investment Grade New Jersey Municipals (VTJ)
|
|
|
|
|
|
|
152.9
|
|
|
|
525,000
|
|
Trust for Investment Grade New York Municipals (VTN)
|
|
|
|
|
|
|
346.9
|
|
|
|
600,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMBINED TOTAL
|
|
|
|
|
|
|
61,038.3
|
|
|
|
41,275,000
|
|
|
|
|
*
|
|
Funds have not yet commenced Investment Operations.
|
(CURRENT AMOUNT OF FIDELITY BOND IN EFFECT IS $45 MILLION)
Van Kampen Tax Free Money (NASDAQ:VTFXX)
Historical Stock Chart
From Sep 2024 to Oct 2024
Van Kampen Tax Free Money (NASDAQ:VTFXX)
Historical Stock Chart
From Oct 2023 to Oct 2024