Net investment income (loss) and net realized gain (loss) may differ for financial statement

and tax purposes. The character of dividends and distributions made during the fiscal year

from net investment income or net realized gains may differ from their ultimate characterization

for federal income tax purposes. Also, due to timing of dividends and distributions,

the fiscal year in which amounts are distributed may differ from the fiscal year in which

the income or net realized gain was recorded by the Fund.

Accordingly, the following amounts have been reclassified for June 30, 2011. Net assets of

the Fund were unaffected by the reclassifications.

Reduction                                          Reduction

                       to Accumulated                          to Accumulated Net

                           Increase                               Net Investment                                    Realized Gain

           to Paid-in Capital                                                  Loss                                on Investments4

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

                     $45,777,297                                    $103,976,230                                      $149,753,527

4. $45,777,297, all of which was long-term capital gain, was distributed in connection with Fund share redemptions.