-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P4WiN6K3A2IWz9eEPUO+oz2EEQzpcNIbZ6xFI+Jxv4I1wHTqyBvEoi5G6AfJ1wJO ajJPEg1Ufm/BUCTbwQXw+g== 0000891804-08-003516.txt : 20081118 0000891804-08-003516.hdr.sgml : 20081118 20081118161806 ACCESSION NUMBER: 0000891804-08-003516 CONFORMED SUBMISSION TYPE: 40-17G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081118 DATE AS OF CHANGE: 20081118 EFFECTIVENESS DATE: 20081118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MBIA CAPITAL CLAYMORE MAN DUR INV GRD MUNI FUND CENTRAL INDEX KEY: 0001235511 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21359 FILM NUMBER: 081198533 BUSINESS ADDRESS: STREET 1: 113 KING STREET CITY: ARMONK STATE: NY ZIP: 10504 FORMER COMPANY: FORMER CONFORMED NAME: MBIA CAPITAL CLAYMORE MANAGED DURATION NATIONAL MUNICIPAL TR DATE OF NAME CHANGE: 20030523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fiduciary/Claymore MLP Opportunity Fund CENTRAL INDEX KEY: 0001305197 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21652 FILM NUMBER: 081198539 BUSINESS ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DREMAN CLAYMORE DIVIDEND & INCOME FUND CENTRAL INDEX KEY: 0001267890 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21455 FILM NUMBER: 081198531 BUSINESS ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6305053700 MAIL ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TS&W / CLAYMORE TAX-ADVANTAGED BALANCED FUND CENTRAL INDEX KEY: 0001280226 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21515 FILM NUMBER: 081198536 BUSINESS ADDRESS: STREET 1: C/O CLAYMORE SECURITIES STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Madison/Claymore Covered Call & Equity Strategy Fund CENTRAL INDEX KEY: 0001289868 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21582 FILM NUMBER: 081198534 BUSINESS ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FORMER COMPANY: FORMER CONFORMED NAME: Madison/Claymore Covered Call Fund DATE OF NAME CHANGE: 20041206 FORMER COMPANY: FORMER CONFORMED NAME: Madison Claymore Covered Call Fund DATE OF NAME CHANGE: 20040714 FORMER COMPANY: FORMER CONFORMED NAME: Madison/Claymore Covered Call Strategy Fund DATE OF NAME CHANGE: 20040511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund) CENTRAL INDEX KEY: 0001310709 IRS NUMBER: 436922646 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21681 FILM NUMBER: 081198535 BUSINESS ADDRESS: STREET 1: C/O CLAYMORE SECURITIES, INC. STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532-3622 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: C/O CLAYMORE SECURITIES, INC. STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532-3622 FORMER COMPANY: FORMER CONFORMED NAME: Old Mutual/Claymore Long-Short Premium Fund (f.k.a. Analytic Covered Call Plus Fund) DATE OF NAME CHANGE: 20050411 FORMER COMPANY: FORMER CONFORMED NAME: Old Mutual/Claymore Long-Short Premium Fund (f.k.a-Analytic Covered Call Plus Fund) DATE OF NAME CHANGE: 20050406 FORMER COMPANY: FORMER CONFORMED NAME: Analytic Covered Call Plus Fund DATE OF NAME CHANGE: 20041206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fiduciary/Claymore Dynamic Equity Fund CENTRAL INDEX KEY: 0001311877 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21687 FILM NUMBER: 081198538 BUSINESS ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FORMER COMPANY: FORMER CONFORMED NAME: Fiduciary/Claymore Dynamic Equity Income Fund DATE OF NAME CHANGE: 20050308 FORMER COMPANY: FORMER CONFORMED NAME: Fiduciary/Claymore Hedged Equity Fund DATE OF NAME CHANGE: 20050307 FORMER COMPANY: FORMER CONFORMED NAME: Fiduciary/Claymore Premium Income Opportunity Fund DATE OF NAME CHANGE: 20050218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Claymore/Guggenheim Strategic Opportunities Fund CENTRAL INDEX KEY: 0001380936 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 40-17G SEC ACT: 1940 Act SEC FILE NUMBER: 811-21982 FILM NUMBER: 081198532 BUSINESS ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FORMER COMPANY: FORMER CONFORMED NAME: Claymore Strategic Opportunities Fund DATE OF NAME CHANGE: 20061113 40-17G 1 clay44905-17g.txt CLAYMORE CLOSED END FUND ICI MUTUAL INSURANCE COMPANY INVESTMENT COMPANY BLANKET BOND RIDER NO. 4
- ---------------------------------------------------------------------------------------------------------- INSURED BOND NUMBER DREMAN/CLAYMORE DIVIDEND & INCOME FUND 05716208B - ---------------------------------------------------------------------------------------------------------- EFFECTIVE DATE BOND PERIOD AUTHORIZED REPRESENTATIVE SEPTEMBER 3, 2008 MARCH 31, 2008 TO MARCH 31, 2009 /S/ MATTHEW LINK ==========================================================================================================
In consideration of the premium charged for this Bond, and notwithstanding Item 1 of the Declarations, Name of Insured, or any other Rider to this Bond, it is hereby understood and agreed that the following shall not be Insureds under this Bond: Claymore/Raymond James SB-1 Equity Fund Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond. JOINT INSUREDS AGREEMENT THIS AGREEMENT is made effective as of the 21st day of April, 2008, by and between DREMAN/CLAYMORE DIVIDEND & INCOME FUND, a Delaware statutory trust ("DCS"), OLD MUTUAL/CLAYMORE LONG-SHORT, a Massachusetts business trust ("OLA"), CLAYMORE/GUGGENHEIM STRATEGIC OPPORTUNITIES FUND, a Delaware statutory trust ("GOF"), TS&W/CLAYMORE TAX-ADVANTAGED BALANCED FUND, a Delaware statutory trust ("TYW"), MADISON/CLAYMORE COVERED CALL & EQUITY STRATEGY FUND, a Delaware statutory trust ("MCN"), MBIA CAPITAL/CLAYMORE MANAGED DURATION INVESTMENT GRADE MUNICIPAL FUND, a Delaware statutory trust ("MZF"), FIDUCIARY/CLAYMORE MLP OPPORTUNITY FUND, a Delaware statutory trust ("FMO") and FIDUCIARY/CLAYMORE DYNAMIC EQUITY FUND, a Delaware statutory trust ("HCE") (DCS, OLA, GOF, TYW, MCN, MZF, FMO and HCE are collectively referred to herein as the "Trusts" or singularly as a "Trust"). The Trusts have been named as insureds under a joint Investment Company Blanket Bond issued by ICI Mutual Insurance Company (the "Bond") with a limit of liability that may be changed from time to time ("Bond Amount"). The Trusts desire to enter into this Agreement in accordance with the requirements of Rule 17g-1(f) to assure that the premium for the Bond and any proceeds received under the Bond are allocated in an equitable and proportionate manner. The Trusts, therefore, agree that: 1. Allocation of Premium. The portion of the premium paid by each Trust shall be allocated among the Trusts based upon the minimum amount of coverage required under Rule 17g-1 under the Investment Company Act of 1940, as amended, based on their respective assets under management as of the date of the Allocation Event. The current allocations are set forth in Exhibit A. From time to time adjustments may be made to the portion of the premiums theretofore paid by a Trust, based on a subsequent change or changes in the net assets of one or more Trusts or the addition or withdrawal of a Trust from the Bond. 2. Allocation Event. The allocation of the Bond premium shall be determined as of the initial date of each Bond period, as of each date when a Trust is added to this Agreement or when this Agreement is terminated as to a Trust and when the premium amount increases because of an increase in the Bond Amount during the Bond period. When a Trust is added to the Bond, the existing Trusts shall receive a reimbursement for the decreased amount of premium to be paid for the Bond period as a result of the addition of the Trust unless Claymore Advisors, LLC, the administrator for each Trust ("Administrator"), determines that the cost of refunding the excess premium would meet or exceed the amount of premium to be refunded. When Trusts are subtracted, there shall be no change in amounts owed by the Trusts. 3. Allocation of Coverage. In the event any recovery is received under the Bond as a result of a loss sustained by any Trust and by the other named insureds, each Trust shall receive an equitable and proportionate share of the recovery but in no event less than the amount it would have received had it provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1. The remaining amount of any recovery, if any, shall then be applied to the claims of the Trusts based on the premiums paid by the respective Trusts. 4. Agent. The Administrator is hereby appointed as the agent for the Trusts for the purpose of making, adjusting, receiving and enforcing payment of all claims under the Bond and otherwise dealing with ICI Mutual Insurance Company with respect to the Bond. Any expenses incurred by the Administrator in its capacity as agent in connection with a claim shall be shared by the Trusts in proportion to the Bond proceeds received by the Trusts for the loss. All other expenses incurred by the Administrator in its capacity as agent shall be shared by the Trusts in the same portion as their premium allocation. 5. Modification and Termination. This Agreement, including Exhibit A, may be modified or amended from time to time by mutual written agreement among the Trusts. Additional registered investment companies for which the Administrator serves as the administrator may be made a party to this Agreement and upon the approval of the Board of Trustees of each party to the Agreement, will be added to the Agreement by the execution of a revised Exhibit A. The addition of a party shall trigger an Allocation Event. This Agreement may be terminated with respect to any one Trust by not less than 75 days' written notice to the other Trusts. It shall terminate as to any party as of the date that such party ceases to be an insured under the Bond; provided that such termination shall not affect such party's rights and obligations hereunder with respect to any claims on behalf of such party which are paid under the Bond by ICI Mutual Insurance Company after the date such party ceases to be an insured under the Bond. The Agreement shall continue as to the remaining parties, but shall trigger an Allocation Event. 6. Further Assurances. Each party agrees to perform such further acts and execute such further documents as are necessary to effectuate the purposes hereof. 2 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date and year first above written. DREMAN/CLAYMORE DIVIDEND & INCOME FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer OLD MUTUAL/CLAYMORE LONG-SHORT FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer MADISON/CLAYMORE COVERED CALL & EQUITY STRATEGY FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer FIDUCIARY/CLAYMORE MLP OPPORTUNITY FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer 3 FIDUCIARY/CLAYMORE DYNAMIC EQUITY FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer TS&W/CLAYMORE TAX-ADVANTAGED BALANCED FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer MBIA CAPITAL/CLAYMORE MANAGED DURATION INVESTMENT GRADE MUNICIPAL FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer CLAYMORE/GUGGENHEIM STRATEGIC OPPORTUNITIES FUND By: /s/ Steven M. Hill ---------------------------------- Steven M. Hill Chief Financial Officer, Chief Accounting Officer and Treasurer Dated: November 17, 2008 4 EXHIBIT A JOINT INSUREDS AGREEMENT
A. Bond Period: March 31, 2008 through March 31, 2009. B. Bond Amount: $6,875,000 C. ALLOCATION OF ANNUAL PREMIUM ($25,833) TRUST: Dreman/Claymore Dividend & Income Fund $4,429 Old Mutual/Claymore Long-Short Fund $2,952 Madison/Claymore Covered Call & Equity Strategy Fund $2,952 Fiduciary/Claymore MLP Opportunity Fund $4,429 Fiduciary/Claymore Dynamic Equity Fund $2,215 TS&W/Claymore Tax-Advantaged Balanced Fund $2,952 MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund $2,952 Claymore/Guggenheim Strategic Opportunities Fund $2,952
A-1 SECRETARY'S CERTIFICATE The undersigned certifies that he is the duly elected Secretary of the Fiduciary/Claymore MLP Opportunity Fund and Fiduciary/Claymore Dynamic Equity Fund (the "Trusts") and that the resolutions set forth below approving the fidelity bond for the Trusts were adopted by the Boards of Trustees of the Trusts on April 23, 2008, and such resolutions have not been amended, modified or rescinded and remain in full force and effect as of the date hereof. RESOLVED, that the joint fidelity bond with ICI Mutual Insurance Company (the "Joint Fidelity Bond"), with a policy limit of $6,875,000, and an annual premium of $25,833, providing coverage for the Trusts, Dreman/Claymore Dividend & Income Fund, TS&W/Claymore Tax-Advantaged Balanced Fund, Old Mutual/Claymore Long-Short Fund, Madison/Claymore Covered Call & Equity Strategy Fund, MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund, Claymore/Raymond James SB-1 Equity Fund and Claymore/Guggenheim Strategic Opportunities Fund for the period from March 31, 2008 to March 31, 2009 be, and it hereby is, adopted and approved; and further RESOLVED, that Joint Fidelity Bond premium shall be ratably allocated to the covered funds based upon the minimum amount of coverage required for each covered fund by Rule 17g-1 under the 1940 Act; and further RESOLVED, that in accordance with Rule 17g-1(h) under the 1940 Act, the Secretary of the Trusts is hereby designated as the officer of the Trusts who is authorized and directed to make the filings with the SEC and give the notices required by Rule 17g-1(g); and further RESOLVED, that the proper officers of the Trusts be, and they hereby are, authorized and directed at all times to take all actions necessary to assure compliance with these resolutions and said Rule 17g-1. IN WITNESS WHEREOF, the undersigned has executed this certificate this 17th day of November, 2008. /s/ Mark E. Mathiasen ---------------------------- Mark E. Mathiasen Secretary SECRETARY'S CERTIFICATE The undersigned certifies that he is the duly elected Secretary of the Dreman/Claymore Dividend & Income Fund (the "Trust") and that the resolutions set forth below approving the fidelity bond for the Trust were adopted by the Board of Trustees of the Trust on June 5, 2008, and such resolutions have not been amended, modified or rescinded and remain in full force and effect as of the date hereof. RESOLVED, that the joint fidelity bond with ICI Mutual Insurance Company (the "Joint Fidelity Bond"), with a policy limit of $6,875,000, and an annual premium of $25,833, providing coverage for the Trust, Fiduciary/Claymore MLP Opportunity Fund, Fiduciary/Claymore Dynamic Equity Fund, TS&W/Claymore Tax-Advantaged Balanced Fund, Old Mutual/Claymore Long-Short Fund, Madison/Claymore Covered Call & Equity Strategy Fund, MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund, Claymore/Raymond James SB-1 Equity Fund and Claymore/Guggenheim Strategic Opportunities Fund for the period from March 31, 2008 to March 31, 2009 be, and it hereby is, adopted and approved; and further RESOLVED, that the Joint Fidelity Bond premium shall be allocated to the covered funds in accordance with the terms of the Joint Insureds Agreement based upon the minimum amount of coverage required for each covered fund by Rule 17g-1 under the 1940 Act ("Rule 17g-1") based on its respective assets under management; and further RESOLVED, that in accordance with Rule 17g-1, the Secretary of the Trust is hereby designated as the officer of the Trust who is authorized and directed to make the filings with the SEC and give the notices required by Rule 17g-1; and further RESOLVED, that the proper officers of the Trust be, and they hereby are, authorized and directed at all times to take all actions necessary to assure compliance with these resolutions and Rule 17g-1. IN WITNESS WHEREOF, the undersigned has executed this certificate this 17th day of November, 2008. /s/ Matthew J. Patterson ---------------------------- Matthew J. Patterson Secretary 2 SECRETARY'S CERTIFICATE The undersigned certifies that he is the duly elected Secretary of the TS&W/Claymore Tax-Advantaged Balanced Fund and Old Mutual/Claymore Long-Short Fund (the "Trusts") and that the resolutions set forth below approving the fidelity bond for the Trusts were adopted by the Boards of Trustees of the Trusts on April 22, 2008, and such resolutions have not been amended, modified or rescinded and remain in full force and effect as of the date hereof. RESOLVED, that the joint fidelity bond with ICI Mutual Insurance Company (the "Joint Fidelity Bond"), with a policy limit of $6,875,000, and an annual premium of $25,833, providing coverage for the Trusts, Dreman/Claymore Dividend & Income Fund, Fiduciary/Claymore MLP Opportunity Fund, Fiduciary/Claymore Dynamic Equity Fund, Madison/Claymore Covered Call & Equity Strategy Fund, MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund, Claymore/Raymond James SB-1 Equity Fund and Claymore/Guggenheim Strategic Opportunities Fund for the period from March 31, 2008 to March 31, 2009 be, and it hereby is, adopted and approved; and further RESOLVED, that Joint Fidelity Bond premium shall be ratably allocated to the covered funds based upon the minimum amount of coverage required for each covered fund by Rule 17g-1 under the 1940 Act; and further RESOLVED, that in accordance with Rule 17g-1(h) under the 1940 Act, the Secretary of the Trusts is hereby designated as the officer of the Trusts who is authorized and directed to make the filings with the SEC and give the notices required by Rule 17g-1(g); and further RESOLVED, that the proper officers of the Trusts be, and they hereby are, authorized and directed at all times to take all actions necessary to assure compliance with these resolutions and said Rule 17g-1. IN WITNESS WHEREOF, the undersigned has executed this certificate this 17th day of November, 2008. /s/ Matthew J. Patterson ---------------------------- Matthew J. Patterson Secretary 3 SECRETARY'S CERTIFICATE The undersigned certifies that he is the duly elected Secretary of the Madison/Claymore Covered Call & Equity Strategy Fund (the "Trust") and that the resolutions set forth below approving the fidelity bond for the Trust were adopted by the Board of Trustees of the Trust on April 22, 2008, and such resolutions have not been amended, modified or rescinded and remain in full force and effect as of the date hereof. RESOLVED, that the joint fidelity bond with ICI Mutual Insurance Company (the "Joint Fidelity Bond"), with a policy limit of $6,875,000, and an annual premium of $25,833, providing coverage for the Trust, Fiduciary/Claymore MLP Opportunity Fund, Fiduciary/Claymore Dynamic Equity Fund, Dreman/Claymore Dividend & Income Fund, TS&W/Claymore Tax-Advantaged Balanced Fund, Old Mutual/Claymore Long-Short Fund, MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund, Claymore/Raymond James SB-1 Equity Fund and Claymore/Guggenheim Strategic Opportunities Fund for the period from March 31, 2008 to March 31, 2009 be, and it hereby is, adopted and approved; and further RESOLVED, that Joint Fidelity Bond premium shall be ratably allocated to the covered funds based upon the minimum amount of coverage required for each covered fund by Rule 17g-1 under the 1940 Act; and further RESOLVED, that in accordance with Rule 17g-1(h) under the 1940 Act, the Secretary of the Trust is hereby designated as the officer of the Trust who is authorized and directed to make the filings with the SEC and give the notices required by Rule 17g-1(g); and further RESOLVED, that the proper officers of the Trust be, and they hereby are, authorized and directed at all times to take all actions necessary to assure compliance with these resolutions and said Rule 17g-1. IN WITNESS WHEREOF, the undersigned has executed this certificate this 17th day of November, 2008. /s/ Matthew J. Patterson ---------------------------- Matthew J. Patterson Secretary 4 SECRETARY'S CERTIFICATE The undersigned certifies that she is the duly elected Secretary of the MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund (the "Trust") and that the resolutions set forth below approving the fidelity bond for the Trust were adopted by the Board of Trustees of the Trust on April 23, 2008, and such resolutions have not been amended, modified or rescinded and remain in full force and effect as of the date hereof. RESOLVED, that the joint fidelity bond with ICI Mutual Insurance Company (the "Joint Fidelity Bond"), with a policy limit of $6,875,000, and an annual premium of $25,833, providing coverage for the Trust, Dreman/Claymore Dividend & Income Fund, TS&W/Claymore Tax-Advantaged Balanced Fund, Old Mutual/Claymore Long-Short Fund, Madison/Claymore Covered Call & Equity Strategy Fund, Fiduciary/Claymore MLP Opportunity Fund, Fiduciary/Claymore Dynamic Equity Fund, Claymore/Raymond James SB-1 Equity Fund and Claymore/Guggenheim Strategic Opportunities Fund for the period from March 31, 2008 to March 31, 2009 be, and it hereby is, adopted and approved; and further RESOLVED, that Joint Fidelity Bond premium shall be ratably allocated to the covered funds based upon the minimum amount of coverage required for each covered fund by Rule 17g-1 under the 1940 Act; and further RESOLVED, that in accordance with Rule 17g-1(h) under the 1940 Act, the Secretary of the Trust is hereby designated as the officer of the Trust who is authorized and directed to make the filings with the SEC and give the notices required by Rule 17g-1(g); and further RESOLVED, that the proper officers of the Trust be, and they hereby are, authorized and directed at all times to take all actions necessary to assure compliance with these resolutions and said Rule 17g-1. IN WITNESS WHEREOF, the undersigned has executed this certificate this 17th day of November, 2008. /s/ Melissa J. Nguyen ---------------------------- Melissa J. Nguyen Secretary 5 SECRETARY'S CERTIFICATE The undersigned certifies that he is the duly elected Secretary of the Claymore/Raymond James SB-1 Equity Fund and Claymore/Guggenheim Strategic Opportunities Fund (the "Trusts") and that the resolutions set forth below approving the fidelity bond for the Trusts were adopted by the Boards of Trustees of the Trusts on April 21, 2008, and such resolutions have not been amended, modified or rescinded and remain in full force and effect as of the date hereof. RESOLVED, that the joint fidelity bond with ICI Mutual Insurance Company (the "Joint Fidelity Bond"), with a policy limit of $6,875,000, and an annual premium of $25,833, providing coverage for the Trusts, Dreman/Claymore Dividend & Income Fund, TS&W/Claymore Tax-Advantaged Balanced Fund, Old Mutual/Claymore Long-Short Fund, Madison/Claymore Covered Call & Equity Strategy Fund, MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund, Fiduciary/Claymore MLP Opportunity Fund and Fiduciary/Claymore Dynamic Equity Fund for the period from March 31, 2008 to March 31, 2009 be, and it hereby is, adopted and approved; and further RESOLVED, that Joint Fidelity Bond premium shall be ratably allocated to the covered funds based upon the minimum amount of coverage required for each covered fund by Rule 17g-1 under the 1940 Act; and further RESOLVED, that in accordance with Rule 17g-1(h) under the 1940 Act, the Secretary of the Trusts is hereby designated as the officer of the Trusts who is authorized and directed to make the filings with the SEC and give the notices required by Rule 17g-1(g); and further RESOLVED, that the proper officers of the Trusts be, and they hereby are, authorized and directed at all times to take all actions necessary to assure compliance with these resolutions and said Rule 17g-1. IN WITNESS WHEREOF, the undersigned has executed this certificate this 17th day of November, 2008. /s/ Mark E. Mathiasen ---------------------------- Mark E. Mathiasen Secretary 6 -----END PRIVACY-ENHANCED MESSAGE-----