Portfolio of Investments (Unaudited)
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|||||
Nuveen New York Municipal Value Fund 2 (NYV)
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June 30, 2013
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Principal
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Optional Call
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||||
Amount (000)
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Description (1)
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Provisions (2)
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Ratings (3)
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Value
|
|
Consumer Staples – 4.1% (4.1% of Total Investments)
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|||||
$ 1,350
|
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds,
|
No Opt. Call
|
Baa1
|
$ 1,477,373
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|
Series 2001, 6.500%, 5/15/33
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Education and Civic Organizations – 10.1% (10.3% of Total Investments)
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1,200
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter
|
4/17 at 100.00
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BB+
|
1,072,668
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|
Schools, Series 2007A, 5.000%, 4/01/37
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380
|
Buffalo and Erie County Industrial Land Development Corporation, New York, Tax-Exempt Revenue
|
No Opt. Call
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BB
|
399,369
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|
Bonds, Enterprise Charter School Project, Series 2011A, 6.000%, 12/01/19
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1,000
|
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
|
7/17 at 100.00
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Aa2
|
1,049,950
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|
Facilities, Series 2007, 5.000%, 7/01/37
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|||||
65
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn
|
12/16 at 100.00
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BB+
|
64,790
|
|
College of Aeronautics, Series 2006A, 5.000%, 12/01/28
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4,895
|
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project
|
No Opt. Call
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AA–
|
1,103,529
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|
PILOT, Series 2009A, 0.000%, 3/01/40 – AGC Insured
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|||||
7,540
|
Total Education and Civic Organizations
|
3,690,306
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|||
Financials – 0.9% (0.9% of Total Investments)
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|||||
300
|
Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series
|
No Opt. Call
|
A
|
320,877
|
|
2005, 5.250%, 10/01/35
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|||||
Health Care – 21.0% (21.2% of Total Investments)
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|||||
290
|
Albany Capital Resource Corporation, New York, St. Peter’s Hospital Project, Series 2011,
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11/20 at 100.00
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A–
|
329,266
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|
6.000%, 11/15/25
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|||||
700
|
Delaware County Hospital Authority, Indiana, Hospital Revenue Bonds, Cardinal Health System,
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8/16 at 100.00
|
Baa2
|
730,282
|
|
Series 2006, 5.000%, 8/01/24
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|||||
500
|
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, St. Luke’s Roosevelt
|
8/15 at 100.00
|
N/R
|
503,035
|
|
Hospital, Series 2005, 4.900%, 8/15/31
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|||||
50
|
Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds,
|
7/20 at 100.00
|
A2
|
52,299
|
|
Series 2010, 5.000%, 7/01/26
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1,000
|
Dormitory Authority of the State of New York, Insured Revenue Bonds, Franciscan Health
|
1/14 at 100.00
|
A3
|
1,000,460
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|
Partnership Obligated Group – Frances Shervier Home and Hospital, Series 1997, 5.500%, 7/01/27 –
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RAAI Insured
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85
|
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group
|
12/18 at 100.00
|
Ba1
|
90,509
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|
Revenue Bonds, Series 2008, 6.250%, 12/01/37
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1,500
|
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish
|
11/16 at 100.00
|
A3
|
1,525,500
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|
Obligated Group, Series 2006B, 5.000%, 11/01/34
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1,500
|
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish
|
5/19 at 100.00
|
A–
|
1,590,825
|
|
Obligated Group, Series 2009A, 5.500%, 5/01/37
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|||||
1,010
|
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series
|
7/17 at 100.00
|
A–
|
1,044,704
|
|
2007B, 5.625%, 7/01/37
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|||||
725
|
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2007A, 5.750%, 11/15/37
|
11/17 at 100.00
|
A
|
760,772
|
|
7,360
|
Total Health Care
|
7,627,652
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Housing/Multifamily – 13.3% (13.5% of Total Investments)
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1,500
|
New York City Housing Development Corporation, New York, FNMA Backed Progress of Peoples
|
11/15 at 100.00
|
AA+
|
1,526,265
|
|
Development Multifamily Rental Housing Revenue Bonds, Series 2005B, 4.950%, 5/15/36
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|||||
(Alternative Minimum Tax)
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1,800
|
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
|
11/14 at 100.00
|
AA
|
1,818,882
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|
Series 2004-H2, 5.125%, 11/01/34 (Alternative Minimum Tax)
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1,000
|
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009A,
|
5/19 at 100.00
|
Aa2
|
1,037,050
|
|
5.250%, 11/01/41
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|||||
450
|
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B,
|
5/19 at 100.00
|
Aa2
|
469,701
|
|
4.500%, 11/01/29
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|||||
4,750
|
Total Housing/Multifamily
|
4,851,898
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Long-Term Care – 0.1% (0.1% of Total Investments)
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|||||
50
|
Erie County Industrial Development Agency, New York, Revenue Bonds, Orchard Park CCRC Inc.
|
11/16 at 100.00
|
N/R
|
49,500
|
|
Project, Series 2006A, 6.000%, 11/15/36
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Tax Obligation/General – 5.6% (5.7% of Total Investments)
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|||||
1,500
|
New York City, New York, General Obligation Bonds, Fiscal 2009 Series J1, 5.000%, 5/15/36
|
5/19 at 100.00
|
AA
|
1,611,090
|
|
400
|
Yonkers, New York, General Obligation Bonds, Series 2011A, 5.000%, 10/01/24 – AGM Insured
|
10/21 at 100.00
|
AA–
|
436,984
|
|
1,900
|
Total Tax Obligation/General
|
2,048,074
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Tax Obligation/Limited – 28.5% (28.8% of Total Investments)
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1,200
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds,
|
3/19 at 100.00
|
AAA
|
1,255,068
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|
Education Series 2009A, 5.000%, 3/15/38
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1,200
|
Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.750%, 12/01/34
|
12/19 at 100.00
|
BBB+
|
1,265,724
|
|
1,710
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47
|
2/17 at 100.00
|
A
|
1,728,960
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|
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local
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Government Assistance Corporation, Series 2004A:
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750
|
5.000%, 10/15/26 – AGM Insured
|
10/14 at 100.00
|
AAA
|
785,820
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|
1,000
|
5.000%, 10/15/32 – AGM Insured
|
10/14 at 100.00
|
AAA
|
1,042,470
|
|
1,500
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
|
1/19 at 100.00
|
AA–
|
1,587,840
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|
Series 2009-S5, 5.250%, 1/15/39
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25
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
|
11/20 at 100.00
|
AAA
|
27,784
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|
Subordinate Lien Series 2011C, 5.500%, 11/01/35
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1,000
|
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Tender
|
3/17 at 100.00
|
AAA
|
1,096,140
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|
Option Bond Trust 09-6W, 13.452%, 3/15/37 (IF) (4)
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1,500
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
8/19 at 100.00
|
A+
|
1,560,302
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|
2009A, 6.000%, 8/01/42
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9,885
|
Total Tax Obligation/Limited
|
10,350,108
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Transportation – 10.5% (10.7% of Total Investments)
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New York City Industrial Development Agency, New York, American Airlines-JFK International
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Airport Special Facility Revenue Bonds, Series 2005:
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500
|
7.500%, 8/01/16 (Alternative Minimum Tax)
|
No Opt. Call
|
N/R
|
526,170
|
|
500
|
7.750%, 8/01/31 (Alternative Minimum Tax)
|
8/16 at 101.00
|
N/R
|
569,070
|
|
2,000
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx
|
10/17 at 100.00
|
N/R
|
839,940
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|
Parking Development Company, LLC Project, Series 2007, 5.750%, 10/01/37 (5)
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155
|
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project,
|
11/21 at 100.00
|
A+
|
157,646
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|
Series 2011, 5.000%, 11/15/44
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Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
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Terminal LLC Project, Eighth Series 2010:
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180
|
6.500%, 12/01/28
|
12/15 at 100.00
|
BBB–
|
193,923
|
|
140
|
6.000%, 12/01/36
|
12/20 at 100.00
|
BBB–
|
156,874
|
|
1,325
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
|
5/18 at 100.00
|
AA–
|
1,388,547
|
|
Series 2008A, 5.000%, 11/15/33
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4,800
|
Total Transportation
|
3,832,170
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U.S. Guaranteed – 0.6% (0.7% of Total Investments) (6)
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225
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc.
|
2/14 at 100.00
|
A+ (6)
|
234,038
|
|
Obligated Group, Series 2009, 6.625%, 2/15/32 (Pre-refunded 2/18/14)
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Utilities – 1.4% (1.4% of Total Investments)
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25
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
25,537
|
|
505
|
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue
|
No Opt. Call
|
BB+
|
464,752
|
|
Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42
|
|||||
530
|
Total Utilities
|
490,289
|
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Water and Sewer – 2.6% (2.6% of Total Investments)
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900
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
|
12/21 at 100.00
|
AA+
|
949,518
|
|
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44
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$ 39,590
|
Total Investments (cost $32,904,724) – 98.7%
|
35,921,803
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Other Assets Less Liabilities – 1.3% (7)
|
456,238
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Net Assets Applicable to Common Shares – 100%
|
$ 36,378,041
|
Investments in Derivatives at June 30, 2013
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Swaps outstanding:
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Fund
|
Fixed Rate
|
Unrealized
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||||||
Notional
|
Pay/Receive
|
Floating Rate
|
Fixed Rate
|
Payment
|
Effective
|
Termination
|
Appreciation
|
|
Counterparty
|
Amount
|
Floating Rate
|
Index
|
(Annualized)
|
Frequency
|
Date (8)
|
Date
|
(Depreciation) (7)
|
Barclays Bank PLC
|
$2,750,000
|
Receive
|
3-Month USD-LIBOR
|
3.190%
|
Semi-Annually
|
4/30/14
|
4/30/34
|
$132,891
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Long-Term Investments:
|
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Municipal Bonds
|
$ —
|
$35,921,803
|
$ —
|
$35,921,803
|
Derivatives:
|
||||
Swaps*
|
—
|
132,891
|
—
|
132,891
|
Total
|
$ —
|
$36,054,694
|
$ —
|
$36,054,694
|
Gross unrealized:
|
|
Appreciation
|
$3,598,214
|
Depreciation
|
(379,005)
|
Net unrealized appreciation (depreciation) of investments
|
$3,219,209
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common
|
|
shares unless otherwise noted. | ||
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
|
|
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
|
||
may be subject to periodic principal paydowns.
|
||
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
|
|
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or
|
||
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any
|
||
of these national rating agencies.
|
||
(4)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
|
|
investments in inverse floating rate transactions.
|
||
(5)
|
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income
|
|
producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on
|
||
the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the
|
||
Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and
|
||
has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
|
||
(6)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
|
|
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
|
||
agency securities are regarded as having an implied rating equal to the rating of such securities.
|
||
(7)
|
Other Assets Less Liabilities includes Unrealized Appreciation (Depreciation) of derivative instruments as
|
|
listed within Investments in Derivatives as of the end of the reporting period.
|
(8)
|
Effective date represents the date on which both the Fund and Counterparty commence interest payment
|
|
accruals on each swap contract.
|
||
N/R
|
Not rated.
|
|
(IF)
|
Inverse floating rate investment.
|
|
USD-LIBOR
|
United States Dollar-London Inter-Bank Offered Rate.
|
a.
|
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
|