UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-22057 |
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Cohen & Steers Global Income Builder, Inc. |
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(Exact name of registrant as specified in charter) |
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280 Park Avenue |
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10017 |
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(Address of principal executive offices) |
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(Zip code) |
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Francis C. Poli |
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(Name and address of agent for service) |
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Registrant’s telephone number, including area code: |
(212) 832-3232 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
March 31, 2009 |
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Item 1. Schedule of Investments
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
March 31, 2009 (Unaudited)
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Number |
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of Shares |
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Value |
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COMMON STOCK 121.5% |
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AUSTRALIA 2.0% |
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BANK 0.7% |
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Australia and New Zealand Banking Group Ltd.(a),(b) |
124,361 |
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$ |
1,358,929 |
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MATERIAL 0.4% |
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BHP Billiton Ltd.(a),(b) |
35,287 |
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779,884 |
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REAL ESTATE—DIVERSIFIED 0.9% |
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Dexus Property Group (a) |
1,643,506 |
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856,209 |
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Mirvac Group (a),(b) |
1,202,699 |
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705,923 |
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1,562,132 |
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TOTAL AUSTRALIA |
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3,700,945 |
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CANADA 2.5% |
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BANK 0.6% |
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Toronto-Dominion Bank/The |
32,200 |
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1,113,476 |
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DIVERSIFIED FINANCIAL SERVICE 1.0% |
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IGM Financial |
75,711 |
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1,826,120 |
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ENERGY—OIL & GAS 0.7% |
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Petro-Canada |
49,415 |
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1,327,479 |
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REAL ESTATE MANAGEMENT/ SERVICES 0.2% |
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Parkbridge Lifestyles Communities(c) |
142,053 |
|
335,753 |
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TOTAL CANADA |
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4,602,828 |
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CHINA 1.5% |
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REAL ESTATE— RESIDENTIAL |
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China Overseas Land & Investment Ltd.(a) |
1,763,000 |
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2,772,211 |
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FINLAND 1.0% |
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TELECOMMUNICATION SERVICES |
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Nokia Oyj(a),(b) |
157,600 |
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1,843,196 |
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FRANCE 6.2% |
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BANK 0.5% |
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BNP Paribas(a),(b) |
22,700 |
|
936,523 |
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1
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Number |
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of Shares |
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Value |
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ENERGY—OIL & GAS 2.1% |
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Total SA(a),(b) |
77,381 |
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$ |
3,826,442 |
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MATERIALS 0.3% |
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Lafarge SA(a),(b) |
14,800 |
|
668,168 |
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REAL ESTATE— DIVERSIFIED 0.8% |
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Gecina SA(a) |
856 |
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32,837 |
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Unibail-Rodamco(a),(b) |
9,833 |
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1,391,437 |
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1,424,274 |
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UTILITIES 2.5% |
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ELECTRIC UTILITIES 1.2% |
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Electricite de France(a),(b) |
56,744 |
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2,225,435 |
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MULTI UTILITIES 1.3% |
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GDF Suez.(a) |
70,000 |
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2,400,620 |
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TOTAL UTILITIES |
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4,626,055 |
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TOTAL FRANCE |
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11,481,462 |
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GERMANY 4.5% |
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INDUSTRIAL 0.8% |
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Siemens AG(a) |
26,500 |
|
1,512,873 |
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INSURANCE 0.8% |
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Allianz SE(a) |
17,200 |
|
1,439,682 |
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UTILITIES 2.9% |
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ELECTRIC UTILITIES 1.5% |
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E.ON AG (ADR)(b) |
99,647 |
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2,758,229 |
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MULTI UTILITIES 1.4% |
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RWE AG(a) |
36,000 |
|
2,521,097 |
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TOTAL UTILITIES |
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|
5,279,326 |
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TOTAL GERMANY |
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|
8,231,881 |
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2
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Number |
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of Shares |
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Value |
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HONG KONG 3.7% |
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ENERGY—OIL & GAS 1.0% |
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CNOOC Ltd.(a),(b) |
1,834,000 |
|
$ |
1,850,110 |
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FINANCE-INVESTMENT BANKERS/BROKERS 0.3% |
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Hong Kong Exchanges and Clearing Ltd.(a) |
51,500 |
|
485,033 |
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REAL ESTATE—DIVERSIFIED 1.9% |
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Hysan Development Company Ltd.(a),(b) |
910,565 |
|
1,552,809 |
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Sun Hung Kai Properties Ltd.(a) |
229,000 |
|
2,059,253 |
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|
3,612,062 |
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TELECOMMUNICATION SERVICES 0.5% |
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|
|
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China Mobile Ltd.(a) |
96,500 |
|
842,471 |
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TOTAL HONG KONG |
|
|
6,789,676 |
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ISRAEL 2.5% |
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PHARMACEUTICAL |
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Teva Pharmaceutical Industries Ltd. (ADR) |
101,784 |
|
4,585,369 |
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ITALY 2.0% |
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BANK 0.3% |
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UniCredito Italiano S.p.A.(a),(b) |
357,200 |
|
587,902 |
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ENERGY— O1IL & GAS 1.0% |
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|
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Eni S.p.A.(a),(b) |
94,500 |
|
1,829,730 |
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UTILITIES— GAS UTILITIES 0.7% |
|
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|
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Snam Rete Gas S.p.A.(a) |
250,000 |
|
1,341,411 |
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TOTAL ITALY |
|
|
3,759,043 |
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JAPAN 10.8% |
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APPAREL 0.6% |
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Fast Retailing Co., Ltd.(a) |
9,200 |
|
1,053,394 |
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Nisshinbo Industries(a) |
17,000 |
|
162,034 |
|
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|
|
|
1,215,428 |
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3
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Number |
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of Shares |
|
Value |
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AUTOMOTIVE 0.8% |
|
|
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|
Toyota Motor Corp.(a) |
46,200 |
|
$ |
1,467,490 |
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|||
|
|
|
|
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|
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BANK 0.1% |
|
|
|
|
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|
Sumitomo Trust and Banking Co., Ltd.(a) |
25,000 |
|
96,795 |
|
||||
|
|
|
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|
|
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|
ENERGY—OIL & GAS REFINING & MARKETING 0.1% |
|
|
|
|
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|
Showa Shell Sekiyu KK(a) |
21,000 |
|
192,872 |
|
||||
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|
|
|
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|
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FINANCE 0.1% |
|
|
|
|
||||
|
Daiwa Securities Group(a) |
32,000 |
|
141,813 |
|
||||
|
|
|
|
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|
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FOOD 0.7% |
|
|
|
|
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|
House Foods Corp.(a) |
42,000 |
|
585,686 |
|
||||
|
Kikkoman Corp.(a) |
77,000 |
|
649,336 |
|
||||
|
|
|
|
1,235,022 |
|
||||
|
HEALTH CARE 0.7% |
|
|
|
|
||||
|
Astellas Pharma(a) |
31,000 |
|
959,330 |
|
||||
|
Eisai Co., Ltd.(a) |
13,000 |
|
382,650 |
|
||||
|
|
|
|
1,341,980 |
|
||||
|
INDUSTRIAL 2.7% |
|
|
|
|
||||
|
Chiyoda Corp.(a) |
46,000 |
|
249,021 |
|
||||
|
Fanuc Ltd.(a) |
33,500 |
|
2,291,299 |
|
||||
|
Secom Co., Ltd.(a) |
65,300 |
|
2,417,702 |
|
||||
|
|
|
|
4,958,022 |
|
||||
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INSURANCE 0.4% |
|
|
|
|
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|
Sompo Japan Insurance(a) |
132,000 |
|
691,881 |
|
||||
|
|
|
|
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|
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|
MATERIALS 0.9% |
|
|
|
|
||||
|
Mitsubishi Materials Corp.(a) |
76,000 |
|
207,024 |
|
||||
|
Shin-Etsu Chemical Co., Ltd.(a) |
19,500 |
|
958,041 |
|
||||
|
Sumitomo Metal Mining Co., Ltd.(a) |
14,000 |
|
134,603 |
|
||||
|
Toray Industries(a) |
87,000 |
|
350,743 |
|
||||
|
|
|
|
1,650,411 |
|
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4
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Number |
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|
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of Shares |
|
Value |
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|
REAL ESTATE— DIVERSIFIED 0.1% |
|
|
|
|
||||
|
NTT Urban Development Corp.(a) |
344 |
|
$ |
278,409 |
|
|||
|
|
|
|
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|
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TECHNOLOGY 3.2% |
|
|
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|
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|
Canon(a) |
47,100 |
|
1,373,051 |
|
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|
CSK Holdings Corp.(a) |
34,000 |
|
84,673 |
|
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|
Kyocera Corp.(a) |
9,000 |
|
600,741 |
|
||||
|
NTT Data Corp.(a) |
429 |
|
1,175,227 |
|
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|
Sony Corp.(a) |
66,500 |
|
1,375,517 |
|
||||
|
TDK Corp.(a) |
24,500 |
|
926,095 |
|
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|
Tokyo Electron Ltd.(a) |
8,600 |
|
322,102 |
|
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|
|
|
|
5,857,406 |
|
||||
|
TELECOMMUNICATION SERVICES 0.4% |
|
|
|
|
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|
KDDI Corp.(a) |
155 |
|
729,916 |
|
||||
|
TOTAL JAPAN |
|
|
19,857,445 |
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|
|
|
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MEXICO 0.9% |
|
|
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|
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|
RETAIL 0.4% |
|
|
|
|
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|
Wal-Mart de Mexico SA de CV(b) |
340,300 |
|
794,474 |
|
||||
|
|
|
|
|
|
||||
|
TELECOMMUNICATION SERVICES 0.5% |
|
|
|
|
||||
|
America Movil SAB de CV(b) |
600,700 |
|
818,037 |
|
||||
|
TOTAL MEXICO |
|
|
1,612,511 |
|
||||
|
|
|
|
|
|
||||
|
NETHERLANDS 0.3% |
|
|
|
|
||||
|
REAL ESTATE— INDUSTRIAL |
|
|
|
|
||||
|
ProLogis European Properties(a) |
307,655 |
|
551,245 |
|
||||
|
|
|
|
|
|
||||
|
SINGAPORE 0.6% |
|
|
|
|
||||
|
REAL ESTATE— DIVERSIFIED |
|
|
|
|
||||
|
CapitaLand Ltd.(a) |
662,000 |
|
1,015,098 |
|
||||
|
|
|
|
|
|
||||
|
SPAIN 2.6% |
|
|
|
|
||||
|
BANK 0.7% |
|
|
|
|
||||
|
Banco Santander Central Hispano SA(a),(b) |
186,900 |
|
1,288,634 |
|
||||
5
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
TELECOMMUNICATION SERVICES 1.2% |
|
|
|
|
||||
|
Telefonica SA(a),(b) |
111,100 |
|
$ |
2,215,479 |
|
|||
|
|
|
|
|
|
||||
|
UTILITIES— ELECTRIC UTILITIES 0.7% |
|
|
|
|
||||
|
Red Electrica de Espana(a) |
32,000 |
|
1,250,079 |
|
||||
|
TOTAL SPAIN |
|
|
4,754,192 |
|
||||
|
|
|
|
|
|
||||
|
SWEDEN 0.9% |
|
|
|
|
||||
|
RETAIL |
|
|
|
|
||||
|
Hennes & Mauritz AB(a) |
46,679 |
|
1,750,001 |
|
||||
|
|
|
|
|
|
||||
|
SWITZERLAND 3.8% |
|
|
|
|
||||
|
FOOD 2.0% |
|
|
|
|
||||
|
Nestle SA(a),(b) |
107,120 |
|
3,618,979 |
|
||||
|
|
|
|
|
|
||||
|
HEALTH CARE 1.8% |
|
|
|
|
||||
|
Novartis AG(a),(b) |
90,700 |
|
3,431,502 |
|
||||
|
TOTAL SWITZERLAND |
|
|
7,050,481 |
|
||||
|
|
|
|
|
|
||||
|
UNITED KINGDOM 8.9% |
|
|
|
|
||||
|
BANK 0.8% |
|
|
|
|
||||
|
Barclays PLC(a),(b) |
426,500 |
|
905,513 |
|
||||
|
HSBC Holdings PLC(a),(b) |
96,400 |
|
536,714 |
|
||||
|
|
|
|
1,442,227 |
|
||||
|
CONSUMER DISCRETIONARY 0.9% |
|
|
|
|
||||
|
Reckitt Benckiser Group PLC(a),(b) |
46,500 |
|
1,744,665 |
|
||||
|
|
|
|
|
|
||||
|
ENERGY— INTEGRATED OIL & GAS 1.3% |
|
|
|
|
||||
|
Royal Dutch Shell PLC(a) |
110,624 |
|
2,486,912 |
|
||||
|
|
|
|
|
|
||||
|
HEALTH CARE 2.0% |
|
|
|
|
||||
|
GlaxoSmithKline PLC(a),(b) |
234,100 |
|
3,646,038 |
|
||||
|
|
|
|
|
|
||||
|
REAL ESTATE— DIVERSIFIED 1.0% |
|
|
|
|
||||
|
British Land Co., PLC(a) |
345,631 |
|
1,785,885 |
|
||||
6
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
TELECOMMUNICATION SERVICES 1.0% |
|
|
|
|
||||
|
Vodafone Group PLC(a),(b) |
1,043,000 |
|
$ |
1,818,423 |
|
|||
|
|
|
|
|
|
||||
|
UTILITIES 1.9 % |
|
|
|
|
||||
|
ELECTRIC UTILITIES 1.3% |
|
|
|
|
||||
|
Scottish and Southern Energy PLC(a),(b) |
156,833 |
|
2,492,076 |
|
||||
|
MULTI UTILITIES 0.6% |
|
|
|
|
||||
|
United Utilities Group PLC(a) |
158,100 |
|
1,095,869 |
|
||||
|
TOTAL UTILITIES |
|
|
3,587,945 |
|
||||
|
TOTAL UNITED KINGDOM |
|
|
16,512,095 |
|
||||
|
|
|
|
|
|
||||
|
UNITED STATES 66.8% |
|
|
|
|
||||
|
BASIC MATERIALS 0.9% |
|
|
|
|
||||
|
Alcoa(b) |
49,958 |
|
366,692 |
|
||||
|
Archer-Daniels-Midland Co.(b) |
30,479 |
|
846,706 |
|
||||
|
Praxair |
7,000 |
|
471,030 |
|
||||
|
|
|
|
1,684,428 |
|
||||
|
CONSUMER—CYCLICAL 2.8% |
|
|
|
|
||||
|
APPAREL 1.0% |
|
|
|
|
||||
|
Nike |
37,637 |
|
1,764,799 |
|
||||
|
|
|
|
|
|
||||
|
RETAIL 1.6% |
|
|
|
|
||||
|
Nordstrom(b) |
28,840 |
|
483,070 |
|
||||
|
Wal-Mart Stores(d) |
46,000 |
|
2,396,600 |
|
||||
|
|
|
|
2,879,670 |
|
||||
|
TOYS/GAMES/HOBBIES 0.2% |
|
|
|
|
||||
|
Mattel(d) |
40,300 |
|
464,659 |
|
||||
|
TOTAL CONSUMER—CYCLICAL |
|
|
5,109,128 |
|
||||
|
|
|
|
|
|
||||
|
CONSUMER—NON-CYCLICAL 17.3% |
|
|
|
|
||||
|
AGRICULTURE 2.6% |
|
|
|
|
||||
|
Altria Group(d) |
81,633 |
|
1,307,761 |
|
||||
|
Monsanto Co.(b),(d) |
27,234 |
|
2,263,145 |
|
||||
|
Philip Morris International(d) |
35,633 |
|
1,267,822 |
|
||||
|
|
|
|
4,838,728 |
|
||||
7
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
BEVERAGE 1.2% |
|
|
|
|
||||
|
PepsiCo |
42,110 |
|
$ |
2,167,823 |
|
|||
|
|
|
|
|
|
||||
|
COSMETICS/PERSONAL CARE 3.2% |
|
|
|
|
||||
|
Colgate-Palmolive Co. |
29,500 |
|
1,739,910 |
|
||||
|
Procter & Gamble Co.(d) |
89,676 |
|
4,222,843 |
|
||||
|
|
|
|
5,962,753 |
|
||||
|
FOOD 0.7% |
|
|
|
|
||||
|
Kraft Foods(d) |
54,973 |
|
1,225,348 |
|
||||
|
|
|
|
|
|
||||
|
HEALTHCARE PRODUCTS 3.8% |
|
|
|
|
||||
|
Johnson & Johnson(d) |
66,436 |
|
3,494,534 |
|
||||
|
Medtronic(b) |
116,625 |
|
3,436,939 |
|
||||
|
|
|
|
6,931,473 |
|
||||
|
PHARMACEUTICAL 3.4% |
|
|
|
|
||||
|
Abbott Laboratories(b),(d) |
99,063 |
|
4,725,305 |
|
||||
|
Merck & Co.(d) |
33,329 |
|
891,551 |
|
||||
|
Pfizer(d) |
53,784 |
|
732,538 |
|
||||
|
|
|
|
6,349,394 |
|
||||
|
RESTAURANT 2.4% |
|
|
|
|
||||
|
McDonald’s Corp.(b),(d) |
82,039 |
|
4,476,868 |
|
||||
|
TOTAL CONSUMER— NON-CYCLICAL |
|
|
31,952,387 |
|
||||
|
ENERGY 10.0% |
|
|
|
|
||||
|
OIL & GAS 7.2% |
|
|
|
|
||||
|
Chevron Corp.(b),(d) |
53,730 |
|
3,612,805 |
|
||||
|
Devon Energy Corp.(b),(d) |
43,573 |
|
1,947,277 |
|
||||
|
Exxon Mobil Corp.(b),(d) |
87,347 |
|
5,948,331 |
|
||||
|
Marathon Oil Corp.(b),(d) |
70,300 |
|
1,848,187 |
|
||||
|
|
|
|
13,356,600 |
|
||||
|
OIL & GAS SERVICES 1.8% |
|
|
|
|
||||
|
Schlumberger Ltd.(b),(d) |
42,998 |
|
1,746,579 |
|
||||
8
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
Transocean Ltd(c),(d) |
24,986 |
|
$ |
1,470,176 |
|
|||
|
|
|
|
3,216,755 |
|
||||
|
OIL & GAS STORAGE & TRANSPORTATION 1.0% |
|
|
|
|
||||
|
Energy Transfer Partners LP(d) |
24,488 |
|
903,362 |
|
||||
|
Enterprise Products Partners LP(d) |
41,700 |
|
927,825 |
|
||||
|
|
|
|
1,831,187 |
|
||||
|
TOTAL ENERGY |
|
|
18,404,542 |
|
||||
|
|
|
|
|
|
||||
|
FINANCIAL 5.6% |
|
|
|
|
||||
|
BANK 1.5% |
|
|
|
|
||||
|
Bank of New York Mellon Corp. |
36,000 |
|
1,017,000 |
|
||||
|
US Bancorp(d) |
63,000 |
|
920,430 |
|
||||
|
Wells Fargo & Co.(b) |
63,087 |
|
898,359 |
|
||||
|
|
|
|
2,835,789 |
|
||||
|
DIVERSIFIED FINANCIAL SERVICE 2.1% |
|
|
|
|
||||
|
Goldman Sachs Group(d) |
13,000 |
|
1,378,260 |
|
||||
|
JPMorgan Chase & Co.(b),(d) |
92,994 |
|
2,471,780 |
|
||||
|
|
|
|
3,850,040 |
|
||||
|
INSURANCE 2.0% |
|
|
|
|
||||
|
Aflac(d) |
49 |
|
949 |
|
||||
|
HCC Insurance Holdings(b),(d) |
108,981 |
|
2,745,231 |
|
||||
|
MetLife(d) |
37,000 |
|
842,490 |
|
||||
|
|
|
|
3,588,670 |
|
||||
|
TOTAL FINANCIAL |
|
|
10,274,499 |
|
||||
|
|
|
|
|
|
||||
|
HEALTH CARE 1.0% |
|
|
|
|
||||
|
Becton Dickinson & Co.(d) |
27,000 |
|
1,815,480 |
|
||||
|
|
|
|
|
|
||||
|
INDUSTRIAL 6.5% |
|
|
|
|
||||
|
AEROSPACE & DEFENSE 4.6% |
|
|
|
|
||||
|
Boeing Co.(b),(d) |
38,143 |
|
1,357,128 |
|
||||
|
General Dynamics Corp.(b),(d) |
60,419 |
|
2,512,826 |
|
||||
|
L-3 Communications Holdings(d) |
13,000 |
|
881,400 |
|
||||
|
Lockheed Martin Corp. |
14,000 |
|
966,420 |
|
||||
9
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
United Technologies Corp.(b),(d) |
62,273 |
|
$ |
2,676,494 |
|
|||
|
|
|
|
8,394,268 |
|
||||
|
DIVERSIFIED MANUFACTURING 0.9% |
|
|
|
|
||||
|
General Electric Co.(b) |
170,530 |
|
1,724,058 |
|
||||
|
|
|
|
|
|
||||
|
TRANSPORTATION 1.0% |
|
|
|
|
||||
|
United Parcel Service(d) |
39,160 |
|
1,927,455 |
|
||||
|
TOTAL INDUSTRIAL |
|
|
12,045,781 |
|
||||
|
|
|
|
|
|
||||
|
MEDIA 0.7% |
|
|
|
|
||||
|
The Walt Disney Co.(b),(d) |
73,800 |
|
1,340,208 |
|
||||
|
|
|
|
|
|
||||
|
REAL ESTATE 3.9% |
|
|
|
|
||||
|
DIVERSIFIED 0.0% |
|
|
|
|
||||
|
Vornado Realty Trust |
497 |
|
16,520 |
|
||||
|
|
|
|
|
|
||||
|
HEALTH CARE 0.4% |
|
|
|
|
||||
|
Nationwide Health Properties |
31,616 |
|
701,559 |
|
||||
|
|
|
|
|
|
||||
|
OFFICE 0.7% |
|
|
|
|
||||
|
Mack-Cali Realty Corp. |
70,483 |
|
1,396,268 |
|
||||
|
|
|
|
|
|
||||
|
RESIDENTIAL 0.6% |
|
|
|
|
||||
|
American Campus Communities |
46,930 |
|
814,705 |
|
||||
|
Home Properties |
11,531 |
|
353,425 |
|
||||
|
|
|
|
1,168,130 |
|
||||
|
RETAIL 1.5% |
|
|
|
|
||||
|
Federal Realty Investment Trust |
29,909 |
|
1,375,814 |
|
||||
|
Simon Property Group |
39,782 |
|
1,378,049 |
|
||||
|
|
|
|
2,753,863 |
|
||||
|
SPECIALTY 0.7% |
|
|
|
|
||||
|
Digital Realty Trust |
37,723 |
|
1,251,649 |
|
||||
|
TOTAL REAL ESTATE |
|
|
7,287,989 |
|
||||
|
|
|
|
|
|
||||
|
TECHNOLOGY 12.0% |
|
|
|
|
||||
|
COMPUTERS 3.4% |
|
|
|
|
||||
|
Garmin Ltd.(d) |
23,000 |
|
487,830 |
|
||||
|
Hewlett-Packard Co. |
57,574 |
|
1,845,823 |
|
||||
10
|
|
|
Number |
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
International Business Machines Corp.(b),(d) |
|
41,433 |
|
$ |
4,014,443 |
|
|
|
|
|
|
6,348,096 |
|
|
|
SEMICONDUCTORS 2.9% |
|
|
|
|
||
|
Intel Corp. |
|
182,501 |
|
2,746,640 |
|
|
|
Microchip Technology(b),(d) |
|
124,248 |
|
2,632,815 |
|
|
|
|
|
|
|
5,379,455 |
|
|
|
SOFTWARE 2.1% |
|
|
|
|
||
|
Microsoft Corp.(b) |
|
204,915 |
|
3,764,289 |
|
|
|
|
|
|
|
|
||
|
TELECOMMUNICATION EQUIPMENT 3.6% |
|
|
|
|
||
|
Corning(b) |
|
163,700 |
|
2,172,299 |
|
|
|
Harris Corp.(d) |
|
68,700 |
|
1,988,178 |
|
|
|
QUALCOMM(b),(d) |
|
65,000 |
|
2,529,150 |
|
|
|
|
|
|
|
6,689,627 |
|
|
|
TOTAL TECHNOLOGY |
|
|
|
22,181,467 |
|
|
|
|
|
|
|
|
||
|
TELECOMMUNICATION SERVICES 1.9% |
|
|
|
|
||
|
AT&T(b) |
|
86,277 |
|
2,174,181 |
|
|
|
Verizon Communications(d) |
|
44,686 |
|
1,349,517 |
|
|
|
|
|
|
|
3,523,698 |
|
|
|
UTILITIES 4.2% |
|
|
|
|
||
|
ELECTRIC UTILITIES 2.3% |
|
|
|
|
||
|
Exelon Corp.(d) |
|
16,405 |
|
744,623 |
|
|
|
Northeast Utilities(d) |
|
12,500 |
|
269,875 |
|
|
|
NV Energy |
|
148,000 |
|
1,389,720 |
|
|
|
Southern Co.(b),(d) |
|
60,885 |
|
1,864,299 |
|
|
|
|
|
|
|
4,268,517 |
|
|
|
MULTI UTILITIES 1.9% |
|
|
|
|
||
|
CMS Energy Corp.(d) |
|
100,000 |
|
1,184,000 |
|
|
|
Sempra Energy(d) |
|
24,000 |
|
1,109,760 |
|
|
|
Wisconsin Energy Corp. |
|
32,000 |
|
1,317,440 |
|
|
|
|
|
|
|
3,611,200 |
|
|
11
|
|
|
Number |
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
TOTAL UTILITIES |
|
|
|
$ |
7,879,717 |
|
|
TOTAL UNITED STATES |
|
|
|
123,499,324 |
|
|
|
TOTAL COMMON STOCK |
|
|
|
224,369,003 |
|
|
|
|
|
|
|
|
||
|
CLOSED-END FUNDS— UNITED STATES 11.4% |
|
|
|
|
||
|
CONVERTIBLE 1.5% |
|
|
|
|
||
|
Advent Claymore Global Convertible Securities & Income Fund(b) |
|
118,610 |
|
584,747 |
|
|
|
Calamos Convertible and High Income Fund(b) |
|
185,670 |
|
1,513,211 |
|
|
|
Nicholas-Applegate Convertible & Income Fund(d) |
|
78,700 |
|
367,529 |
|
|
|
Nicholas-Applegate Convertible & Income Fund II(d) |
|
95,900 |
|
397,985 |
|
|
|
|
|
|
|
2,863,472 |
|
|
|
COVERED CALL 2.2% |
|
|
|
|
||
|
Dow 30 Enhanced Premium and Income Fund(b),(d) |
|
107,772 |
|
852,477 |
|
|
|
Eaton Vance Tax-Managed Buy-Write Opportunities Fund(d) |
|
35,400 |
|
373,470 |
|
|
|
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund(d) |
|
88,700 |
|
834,667 |
|
|
|
ING Risk Managed Natural Resources Fund |
|
136,531 |
|
1,873,205 |
|
|
|
NFJ Dividend Interest & Premium Strategy Fund |
|
13,000 |
|
130,000 |
|
|
|
|
|
|
|
4,063,819 |
|
|
|
EQUITY TAX-ADVANTAGED 4.5% |
|
|
|
|||
|
Eaton Vance Tax-Managed Diversified Equity Income Fund |
|
391,488 |
|
3,820,923 |
|
|
|
Eaton Vance Tax-Managed Global Diversified Equity Income Fund(b),(d) |
|
514,364 |
|
4,423,530 |
|
|
|
|
|
|
|
8,244,453 |
|
|
|
GLOBAL EQUITY DIVIDEND 1.4% |
|
|
|
|
||
|
Evergreen Global Dividend Opportunity Fund(d) |
|
321,701 |
|
2,592,910 |
|
|
12
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
GLOBAL HYBRID (GROWTH & INCOME) 1.2% |
|
|
|
|
||||
|
Clough Global Opportunities Fund(d) |
|
|
|
242,585 |
|
$ |
2,231,782 |
|
|
|
|
|
|
|
||||
|
US GENERAL EQUITY 0.6% |
|
|
|
|
||||
|
Nasdaq Premium Income & Growth Fund(d) |
|
|
|
118,700 |
|
1,140,707 |
|
|
|
TOTAL CLOSED-END FUNDS |
|
|
|
|
|
21,137,143 |
|
|
|
|
|
|
|
|
||||
|
PREFERRED SECURITIES—$25 PAR VALUE 3.8% |
|
|
|
|
||||
|
BERMUDA 0.7% |
|
|
|
|
||||
|
INSURANCE |
|
|
|
|
|
|
|
|
|
PROPERTY CASUALTY 0.4% |
|
|
|
|
||||
|
Arch Capital Group Ltd., 7.875%, Series B |
|
|
|
33,577 |
|
625,875 |
|
|
|
|
|
|
|
|
||||
|
REINSURANCE 0.3% |
|
|
|
|
||||
|
Axis Capital Holdings Ltd., 7.50%, Series B ($100 par value) |
|
|
|
10,000 |
|
618,125 |
|
|
|
|
|
|
|
|
|
1,244,000 |
|
|
|
GERMANY 1.3% |
|
|
|
|
||||
|
BANK 0.4% |
|
|
|
|
||||
|
Deutsche Bank Contingent Capital Trust III, 7.60% |
|
|
|
55,000 |
|
714,450 |
|
|
|
|
|
|
|
|
||||
|
INSURANCE— MULTI-LINE 0.9% |
|
|
|
|
||||
|
Allianz SE, 8.375% |
|
|
|
100,000 |
|
1,685,000 |
|
|
|
TOTAL GERMANY |
|
|
|
|
|
2,399,450 |
|
|
|
|
|
|
|
|
||||
|
NETHERLANDS 0.6% |
|
|
|
|
||||
|
INSURANCE— MULTI-LINE |
|
|
|
|
|
|
|
|
|
ING Groep N.V., 7.375% |
|
|
|
126,591 |
|
1,181,094 |
|
|
|
|
|
|
|
|
||||
|
SPAIN 0.2% |
|
|
|
|
||||
|
BANK |
|
|
|
|
|
|
|
|
|
Santander Finance, 7.60% |
|
|
|
27,900 |
|
390,321 |
|
|
13
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
Value |
|
|
|
UNITED STATES 1.0% |
|
|
|
|
||||
|
REAL ESTATE— RESIDENTIAL 0.3% |
|
|
|
|
||||
|
Apartment Investment & Management Co., 7.75%, Series U |
|
|
|
57,000 |
|
$ |
575,700 |
|
|
|
|
|
|
|
||||
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
||||
|
Telephone & Data Systems, 7.60%, due 12/1/41, Series A |
|
|
|
73,498 |
|
1,286,950 |
|
|
|
TOTAL UNITED STATES |
|
|
|
|
|
1,862,650 |
|
|
|
TOTAL PREFERRED SECURITIES—$25 PAR VALUE |
|
|
|
|
|
7,077,515 |
|
|
|
|
|
|
|
|
||||
|
PREFERRED SECURITIES—CAPITAL SECURITIES 3.4% |
|
|
|
|
||||
|
BERMUDA 0.2% |
|
|
|
|
||||
|
INSURANCE—MULTI-LINE |
|
|
|
|
|
|
|
|
|
Catlin Insurance Co., 7.249%, due 12/31/49, 144A(e) |
|
|
|
1,000,000 |
|
271,357 |
|
|
|
|
|
|
|
|
||||
|
FRANCE 0.7% |
|
|
|
|
||||
|
BANK |
|
|
|
|
|
|
|
|
|
BNP Paribas, 7.195%, due 12/31/49, 144A(e) |
|
|
|
2,450,000 |
|
1,255,258 |
|
|
|
|
|
|
|
|
||||
|
UNITED KINGDOM 0.3% |
|
|
|
|
||||
|
FINANCE—INVESTMENT MANAGEMENT |
|
|
|
|
|
|
|
|
|
Aberdeen Asset Management, 7.90%, due 12/31/49 |
|
|
|
1,200,000 |
|
618,000 |
|
|
|
|
|
|
|
|
||||
|
UNITED STATES 2.2% |
|
|
|
|
||||
|
FINANCE 0.2% |
|
|
|
|
||||
|
CREDIT CARD |
|
|
|
|
|
|
|
|
|
Capital One Capital III, 7.686%, due 8/15/36 |
|
|
|
1,000,000 |
|
341,276 |
|
|
|
|
|
|
|
|
||||
|
INSURANCE— PROPERTY CASUALTY 1.0% |
|
|
|
|
||||
|
Liberty Mutual Group, 7.80%, due 3/15/37, 144A(e),(f) |
|
|
|
5,000,000 |
|
1,906,470 |
|
|
|
|
|
|
|
|
||||
|
OIL & GAS STORAGE & TRANSPORTATION 1.0% |
|
|
|
|
||||
|
Enbridge Energy Partners LP, 8.05%, due 10/1/37 |
|
|
|
1,000,000 |
|
530,649 |
|
|
14
|
|
|
|
|
Number |
|
|
|
||
|
|
|
|
|
of Shares |
|
Value |
|
||
|
Enterprise Products Operating LP, 8.375%, due 8/1/66 |
|
|
|
2,000,000 |
|
$ |
1,341,608 |
|
|
|
|
|
|
|
|
|
1,872,257 |
|
||
|
TOTAL UNITED STATES |
|
|
|
|
|
4,120,003 |
|
||
|
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES (Identified cost—$12,625,497) |
|
|
|
|
|
6,264,618 |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
Principal |
|
|
|
||
|
|
|
|
|
Amount |
|
|
|
||
|
CORPORATE BONDS 3.6% |
|
|
|
|
|||||
|
FRANCE 0.4% |
|
|
|
|
|||||
|
BANK |
|
|
|
|
|||||
|
Natixis, 10.00%, due 4/30/49, 144A(e) |
$ |
2,500,000 |
|
751,295 |
|
||||
|
|
|
|
|
|
|||||
|
UNITED STATES 3.2% |
|
|
|
|
|||||
|
BANK 0.7% |
|
|
|
|
|||||
|
JPMorgan Chase & Co., 7.90%, due 4/29/49 |
1,940,000 |
|
1,249,265 |
|
|||||
|
|
|
|
|
|
|||||
|
INDUSTRIAL 0.5% |
|
|
|
|
|||||
|
TOOLS-HAND HELD |
|
|
|
|
|||||
|
Black & Decker, 8.95%, due 4/15/14 |
1,000,000 |
|
988,070 |
|
|||||
|
|
|
|
|
|
|||||
|
INSURANCE— PROPERTY CASUALTY 0.4 % |
|
|
|
|
|||||
|
Liberty Mutual Group, 10.75%, due 6/15/58, 144A(e) |
1,500,000 |
|
735,847 |
|
|||||
|
|
|
|
|
|
|||||
|
MEDIA 0.5% |
|
|
|
|
|||||
|
CSC Holdings, 8.50%, due 6/15/15, 144A(e) |
1,000,000 |
|
982,500 |
|
|||||
|
|
|
|
|
|
|||||
|
OFFICE/INDUSTRIAL 0.3% |
|
|
|
|
|||||
|
Staples, 9.75%, due 1/15/14 |
500,000 |
|
523,928 |
|
|||||
|
|
|
|
|
|
|||||
|
TELECOMMUNICATION SERVICES 0.8% |
|
|
|
|
|||||
|
Citizens Communications Co., 9.00%, due 8/15/31 |
2,000,000 |
|
1,382,500 |
|
|||||
15
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
|
Amount |
|
Value |
|
|
|
TOTAL UNITED STATES |
|
|
|
|
|
$ |
5,862,110 |
|
|
TOTAL CORPORATE BONDS |
|
|
|
|
|
6,613,405 |
|
|
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
of Rights |
|
|
|
|
RIGHTS 0.0% |
|
|
|
|
|||
|
UNITED KINGDOM |
|
|
|
|
|
|
|
|
HSBC Holdings PLC,expire 4/03/09(c) |
|
|
|
40,166 |
|
81,261 |
|
|
|
|
|
|
Number |
|
|
|
|
|
|
|
|
|
of Shares |
|
|
|
|
|
SHORT-TERM INVESTMENT 0.2% |
|
|
|
|
||||
|
MONEY MARKET FUND |
|
|
|
|
|
|
|
|
|
Fidelity Institutional Money Market Treasury Only Fund, 0.26%(g) (Identified cost—$298,908) |
|
|
|
298,908 |
|
298,908 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS (Identified cost—$401,486,541) |
|
143.9 |
% |
|
|
265,841,853 |
|
|
|
|
|
|
|
|
|
|
|
|
|
WRITTEN CALL OPTIONS |
|
(1.8 |
)% |
|
|
(3,402,059 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
|
(18.8 |
)% |
|
|
(34,692,212 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
LIQUIDATION VALUE OF PREFERRED SHARES |
|
(23.3 |
)% |
|
|
(43,000,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS APPLICABLE TO COMMON SHARES |
|
|
|
|
|
|
|
|
|
(Equivalent to $8.04 per share based on 22,965,950 shares of common stock outstanding) |
|
100.0 |
% |
|
|
$ |
184,747,582 |
|
16
|
|
|
|
|
Number of |
|
|
|
|
|
|
|
|
|
Contracts |
|
Value |
|
|
|
WRITTEN CALL OPTIONS (1.8)% |
|
|
|
|
||||
|
EUROPE (0.3)% |
|
|
|
|
||||
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,150 4/17/09 |
|
|
|
4,560 |
|
$ |
(196,293 |
) |
|
Dow Jones Stoxx 50 Index, EUR Strike Price 1,836 4/17/09 |
|
|
|
6,861 |
|
(423,690 |
) |
|
|
TOTAL EUROPE |
|
|
|
|
|
(619,982 |
) |
|
|
|
|
|
|
|
||||
|
JAPAN (0.2)% |
|
|
|
|
||||
|
Nikkei 225 Index, JPY Strike Price 8,401 4/17/09 |
|
|
|
157,000 |
|
(292,077 |
) |
|
|
|
|
|
|
|
||||
|
UNITED STATES (1.3)% |
|
|
|
|
||||
|
S&P 500 Index, USD Strike Price 805 4/17/09 |
|
|
|
50,000 |
|
(1,050,000 |
) |
|
|
S&P 500 Index, USD Strike Price 815 4/17/09 |
|
|
|
80,000 |
|
(1,440,000 |
) |
|
|
|
|
|
|
|
|
(2,490,000 |
) |
|
|
TOTAL WRITTEN CALL OPTIONS |
|
|
$ |
(3,402,059 |
) |
|||
|
Glossary of Portfolio Abbreviations |
||
|
|
||
|
|
ADR |
American Depositary Receipt |
|
|
EUR |
Euro |
|
|
JPY |
Japanese Yen |
|
|
USD |
United States Dollar |
17
Note: Percentages indicated are based on the net assets applicable to common shares of the Fund.
(a) Fair valued security. This security has been valued at its fair value as determined in good faith under procedures established by and under the general supervision of the Fund’s Board of Directors. Aggregate fair value securities represent 47.3% of net assets applicable to common shares of the Fund, all of which have been fair valued pursuant to foreign security fair value pricing procedures approved by the Board of Directors.
(b) All or a portion of the security is held in connection with the revolving credit agreement; $73,701,898 has been pledged as collateral.
(c) Non-income producing security.
(d) A portion or all of the security is held in connection with written option contracts: $28,729,325 has been pledged to brokers.
(e) Resale is restricted to qualified institutional investors. Aggregate holdings equal 3.2% of net assets applicable to common shares of the Fund.
(f) Illiquid security. Aggregate holdings equal 1.0% of net assets applicable to common shares of the Fund.
(g) Rate quoted represents the seven day yield of the fund.
18
Note 1 Portfolio Valuation: Investments in securities that are listed on the New York Stock Exchange are valued, except as indicated below, at the last sale price reflected at the close of the New York Stock Exchange on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and asked prices for the day or, if no asked price is available, at the bid price. Exchange traded options are valued at their last sale price as of the close of options trading on applicable exchanges. In the absence of a last sale, options are valued at the average of the quoted bid and asked prices as of the close of business. Over-the-counter options quotations are provided by the respective counterparty.
Securities not listed on the New York Stock Exchange but listed on other domestic or foreign securities exchanges or admitted to trading on the National Association of Securities Dealers Automated Quotations, Inc. (Nasdaq) national market system are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price on the business day as of which such value is being determined as reflected on the tape at the close of the exchange representing the principal market for such securities.
Readily marketable securities traded in the over-the-counter market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment manager) to be over-the-counter, but excluding securities admitted to trading on the Nasdaq National List, are valued at the official closing prices as reported by Nasdaq, the Pink Sheets, or such other comparable sources as the Board of Directors deem appropriate to reflect their fair market value. If there has been no sale on such day, the securities are valued at the mean of the closing bid and asked prices for the day, or if no asked price is available, at the bid price. However, certain fixed-income securities may be valued on the basis of prices provided by a pricing service when such prices are believed by the Board of Directors to reflect the fair market value of such securities. Where securities are traded on more than one exchange and also over-the-counter, the securities will generally be valued using the quotations the Board of Directors believes most closely reflect the value of such securities.
Portfolio securities primarily traded on foreign markets are generally valued at the closing values of such securities on their respective exchanges or if after the close of the foreign markets, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain foreign securities may be fair valued pursuant to procedures established by the Board of Directors.
Securities for which market prices are unavailable, or securities for which the investment manager determines that bid and/or asked price does not reflect market value, will be valued at fair value pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include recent transactions in comparable securities, information relating to the specific security and developments in the markets.
The Fund’s use of fair value pricing may cause the net asset value of Fund shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.
Short-term debt securities, which have a maturity date of 60 days or less, are valued at amortized cost, which approximates value.
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”), effective January 1, 2008. In accordance with FAS 157, fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. FAS 157 establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Fund’s investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below.
· Level 1 — quoted prices in active markets for identical investments
· Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
· Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of March 31, 2009 in valuing the Fund’s investments carried at value:
|
|
|
|
|
Fair Value Measurements at March 31, 2009 Using |
|
||||||||
|
|
|
|
|
Quoted Prices In |
|
Significant |
|
Significant |
|
||||
|
|
|
|
|
Active Market for |
|
Other Observable |
|
Unobservable |
|
||||
|
|
|
|
|
Identical Assets |
|
Inputs |
|
Inputs |
|
||||
|
|
|
Total |
|
(Level 1) |
|
(Level 2) |
|
(Level 3) |
|
||||
|
Investments in Securities |
|
$ |
265,841,853 |
|
$ |
164,736,056 |
|
$ |
101,105,797 |
|
$ |
— |
|
|
Other Financial Instruments* |
|
(3,402,059 |
) |
(2,686,293 |
) |
(715,766 |
) |
— |
|
||||
* Other financial instruments are written call options.
Note 2. Derivative Investments: The Fund has adopted the provisions of Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (FAS 161). This new standard requires funds to disclose information intended to enable financial statement users to understand how and why the fund uses derivative instruments, how derivative instruments are accounted for under FAS 133 and how derivative instruments affect the company’s financial position, results of operations, and cash flows. All changes to the disclosures required in this report have been made in accordance with FAS 161.
The following is a summary of the market valuations of the Fund’s derivative instruments:
|
Equity Contracts |
|
$ |
(3,402,059 |
) |
Options: The Fund may write covered call options on an index or a security with the intention of earning option premiums. Option premiums generate current income and may help increase distributable income. When a Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded in the Statement of Assets and Liabilities as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain or loss on the option to the extent of the premiums received. Premiums received from writing options which are exercised or are closed, are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying index or security. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contract.
Note 3. Income Tax Information
As of March 31,2009, the federal tax cost and net unrealized depreciation were as follows:
|
Gross unrealized appreciation |
|
$ |
5,434,551 |
|
|
Gross unrealized depreciation |
|
(141,079,239 |
) |
|
|
Net unrealized depreciation |
|
$ |
(135,644,688 |
) |
|
|
|
|
|
|
|
Cost for federal income tax purpose |
|
$ |
401,486,541 |
|
Item 2. Controls and Procedures
(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act as of a date within 90 days of the filing of this report.
(b) During the last fiscal quarter, there were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits.
(a) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
COHEN & STEERS GLOBAL INCOME BUILDER, INC. |
|||
|
|
|||
|
|
|||
|
By: |
/s/ Adam M. Derechin |
|
|
|
|
Name: |
Adam M. Derechin |
|
|
|
Title: |
President |
|
|
|
|
|
|
|
|
Date: |
May 28, 2009 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
/s/ Adam M. Derechin |
|
By: |
/s/ James Giallanza |
||
|
|
Name: |
Adam M. Derechin |
|
|
Name: |
James Giallanza |
|
|
Title: |
President and principal executive officer |
|
|
Title: |
Treasurer and principal financial officer |
|
|
|
|
|
|
|
|
|
|
Date: |
May 28, 2009 |
|
|
|
|