X0101 EFFECT 33 LIVE 2008-08-12 15:45:00

N-14

0001420040 Dunham Funds 333-150950 0001420040 Dunham Funds S000022888 Dunham Monthly Distribution Fund C000066378 Dunham Monthly Distribution Fund- Class A 0001073791 KELMOORE STRATEGIC TRUST S000001050 KELMOORE STRATEGY FUND C000002817 CLASS A 0001420040 Dunham Funds S000022888 Dunham Monthly Distribution Fund C000066378 Dunham Monthly Distribution Fund- Class A 0001073791 KELMOORE STRATEGIC TRUST S000001051 KELMOORE STRATEGY EAGLE FUND C000002819 CLASS A 0001420040 Dunham Funds S000022888 Dunham Monthly Distribution Fund C000066378 Dunham Monthly Distribution Fund- Class A 0001073791 KELMOORE STRATEGIC TRUST S000001052 KELMOORE STRATEGY LIBERTY FUND C000002821 CLASS A 0001420040 Dunham Funds S000022888 Dunham Monthly Distribution Fund C000066379 Dunham Monthly Distribution Fund- Class C 0001073791 KELMOORE STRATEGIC TRUST S000001050 KELMOORE STRATEGY FUND C000002818 CLASS C 0001420040 Dunham Funds S000022888 Dunham Monthly Distribution Fund C000066379 Dunham Monthly Distribution Fund- Class C 0001073791 KELMOORE STRATEGIC TRUST S000001051 KELMOORE STRATEGY EAGLE FUND C000002820 CLASS C 0001420040 Dunham Funds S000022888 Dunham Monthly Distribution Fund C000066379 Dunham Monthly Distribution Fund- Class C 0001073791 KELMOORE STRATEGIC TRUST S000001052 KELMOORE STRATEGY LIBERTY FUND C000002822 CLASS C