EX-99.77J REVALUATN 3 reval.htm REVALUATION reval.htm

 
EX-99.77J REVALUATN
 
 
Exhibit 77(j)(b) – Restatement of Capital Accounts

For the year ended June 30, 2013, the Davidson Funds made the following permanent tax adjustments on the statements of assets and liabilities:

 
Undistributed
Net Investment
Income/(Loss)
Accumulated Net
Realized
Gain/(Loss)
 
Paid-in
Capital
Davidson Multi-Cap Equity
$     708
$             -
$ (708)
Davidson Small/Mid Equity
$17,090
$ (17,090)
$        -

The reclassifications have no effect on net assets or net asset value per share.