2012 Preliminary Capital Gains

Mutual funds are required by federal tax law to distribute, prior to December 31, virtually all the net capital gains realized through the date indicated in the tables below.  Mutual funds with a fiscal year ending November 30 may elect to distribute the net capital gains realized through the fiscal year end.  The tax law imposes an excise tax on amounts not distributed by the mutual funds.

The preliminary capital gain per share was determined based on net capital gains realized at the date indicated in the tables below, and shares outstanding at the date indicated in the tables below.  The actual capital gain per share may be greater or lesser due to fund trading activity through October 31 (or November 30, if applicable), and also due to possible adjustments to the capital gains realized, some of which are required by tax law.  Furthermore, the actual capital gain per share will be calculated based on the shares outstanding at each fund's record date, which will differ from the the date indicated in the tables below, shares outstanding.