Common use of Economies of Scale Clause in Contracts

Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund and whether the Fund benefits from any economies of scale. The Board noted that the Fund’s investment management fee schedule includes fee breakpoints. The Board concluded that the Fund’s fee schedule represents an appropriate sharing between the Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.

Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund and whether the Fund benefits from any economies of scale. The In this regard, the Board noted observed that while the Fund’s current investment management fee schedule includes fee does not include breakpoints. The Board concluded that , the Fund’s fee schedule represents an appropriate sharing between the Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.

Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund Funds and whether the Fund benefits Funds benefit from any economies of scale. The In this regard, the Board noted observed that the while each Fund’s current investment management fee schedule includes fee does not include breakpoints. The Board concluded that the , each Fund’s fee schedule represents an appropriate sharing between the each Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.