Short Statement

Pursuant to Rule 30b1-5, a registered management investment company is required to file its complete portfolio schedule, along with certain certifications, as of the end of its first and third fiscal quarters. Under our proposed amendments to Rule 30b1-5, funds that are regulated as money market funds under rule 2a-7 would be exempt from the requirement to file a portfolio schedule. Therefore, our proposed amendments would reduce the paperwork burden associated with rule 30b1-5. For purposes of the Paperwork Reduction Act analysis, however, the burden associated with the requirements of Rule 30b1-5 has been included in the collection of information requirements of Form N-Q, rather than the rule.