EX-99.77O RULE 10F-3

For period ending March 31, 2007

File number 811-7528


										EXHIBIT 77O


				FORM 10f-3
	Registered Domestic Securities and Government Securities


Fund:	 Insured Municipal Income Fund Inc.________________ _______________

Name of Adviser or Sub-Adviser UBS Global Asset Management

1.	Issuer:    University of Puerto Rico University System Revenue Bonds

2.	Date of Purchase: December 1, 2006   3. Date offering commenced:
	November 29, 2006
4.	Underwriter(s) from whom purchased: Lehman Brothers

5.	Affiliated Underwriter managing or participating in syndicate: UBS

6.	Aggregate principal amount or number of shares purchased:
	17,625,000

7.	Aggregate principal amount or total number of shares of offering:
	564,000,000

8.	Purchase price per unit or share (net of fees and expenses):
	106.920

9.	Initial public offering price per unit or share:  106.920

10.	Commission, spread or profit:  	%	$5.00

11.	Have the following conditions been satisfied?		YES	NO

	a.  The securities are part of an issue registered
	    under the Securities Act of 1933 that is being
	    offered to the public, or is part of an issue
	    of government securities (as defined in section
	    2(a)(16) of the 1940 Act).	      			__X___	_______

	b.  The securities were purchased prior to the end
	    of the first day on which any sales are made (of,
	    if a rights offering, the securities were
	    purchased on or before the fourth day preceding
	    the day on which the offering terminated).		___X___	_______

	c.  The securities were purchased at a price not more
	    than the price paid by each purchaser in the
	    offering.						___X___	_______

	d.  The underwriting was a firm commitment underwriting.___X___	_______

	e.  The commission, spread or profit was reasonable
	    and fair in relation
	    to that being received by others for underwriting
	    similar securities
	    during the same period.				___X___	_______

	f.  The issuer of the securities and any predecessor
	    has been in continuous operation for not less than
	    three years.					___X___	_______

	g.  The amount of such securities purchased by the
	    Fund and all other accounts over which the Adviser
	    (or Sub-Adviser, if applicable) exercises investment
	    discretion did not exceed 25% of the principal
	    amount of the offering.				___X___	_______

	h.  No Affiliated Underwriter was a direct or indirect
	    participant in or beneficiary of the sale.		___X___	_______

Note:  Refer to the Rule 10f-3 Procedures for the definitions of the
capitalized terms above.  In particular, Affiliated Underwriter is defined
as affiliates of the Adviser or Sub-Adviser participating in a selling
syndicate, as applicable.

Approved:  /s/Kevin McIntyre			Date:	January 12, 2007

EX-99.77O RULE 10F-3

For period ending March 31, 2007

File number 811-7528


EXHIBIT 77O


				FORM 10f-3
	Registered Domestic Securities and Government Securities


Fund:	Insured Municipal Income Fund Inc.________________ ___________________

Name of Adviser or Sub-Adviser UBS Global Asset Management

1.	Issuer:   Hudson Yards Infrastructure Corp.

2.	Date of Purchase: December 7, 2006     3.  Date offering commenced:
	December 6, 2006

4.	Underwriter(s) from whom purchased: Goldman Sachs

5.	Affiliated Underwriter managing or participating in syndicate: UBS

6.	Aggregate principal amount or number of shares purchased:
	5,000,000

7.	Aggregate principal amount or total number of shares of offering:
	2,000,000,000

8.	Purchase price per unit or share (net of fees and expenses):
	107.406

9.	Initial public offering price per unit or share:  107.406

10.	Commission, spread or profit:  	%	$5.00

11.	Have the following conditions been satisfied?		YES 	NO

	a.  The securities are part of an issue registered
	    under the Securities Act of 1933 that is being
	    offered to the public, or is part of an issue
	    of government securities (as defined in section
	    2(a)(16) of the 1940 Act).				 __X___	_______

	b.  The securities were purchased prior to the end
	    of the first day on which any sales are made (of,
	    if a rights offering, the securities were
	    purchased on or before the fourth day preceding
	    the day on which the offering terminated).		___X___	_______

	c.  The securities were purchased at a price not more
	    than the price paid by each purchaser in the
	    offering.		   				___X___	_______

	d.  The underwriting was a firm commitment underwriting.___X___	_______

	e.  The commission, spread or profit was reasonable and
	    fair in relation
	    to that being received by others for underwriting
	    similar securities
	    during the same period.				___X___	_______

	f.  The issuer of the securities and any predecessor
	    has been in continuous operation for not less than
	    three years.					___X___	_______

	g.  The amount of such securities purchased by the
	    Fund and all other accounts over which the Adviser
	    (or Sub-Adviser, if applicable) exercises investment
	    discretion did not exceed 25% of the principal
	    amount of the offering.				___X___	_______

	h.  No Affiliated Underwriter was a direct or indirect
	    participant in or beneficiary of the sale.		___X___	_______

Note:  Refer to the Rule 10f-3 Procedures for the definitions of the
capitalized terms above.  In particular, Affiliated Underwriter is defined
as affiliates of the Adviser or Sub-Adviser participating in a selling
syndicate, as applicable.

Approved:  /s/Kevin McIntyre			Date:	January 12, 2007

EX-99.77Q2 ITEM 405

For period ending March 31, 2007

File number 811-7528
								Exhibit 77Q-2

	Section 16(a) Beneficial Ownership Reporting Compliance

The registrant is not aware of any report required to be filed pursuant to
Section 16(a) of the Securities Exchange Act of 1934, as amended, which was
not timely filed.

EX-99.77Q1 OTHR EXHB

For period ending  March 31, 2007

File number  811-7528

							Exhibit 77Q-1


		GLOBAL HIGH INCOME FUND INC.
		INSURED MUNICIPAL INCOME FUND INC.
		INVESTMENT GRADE MUNICIPAL INCOME FUND INC.
		MANAGED HIGH YIELD PLUS FUND INC.
		STRATEGIC GLOBAL INCOME FUND, INC


CERTIFICATE OF VICE PRESIDENT AND ASSISTANT SECRETARY FOR BOARD
	RESOLUTIONS APPROVING BYLAW AMENDMENTS


	I, Keith A. Weller, Vice President and Assistant Secretary of Global
High Income Fund Inc., Insured Municipal Income Fund Inc., Investment Grade
Municipal Income Fund Inc., Managed High Yield Plus Fund Inc., and Strategic
Global Income Fund, Inc. (each a Fund and, collectively, the Funds), each
a Maryland corporation and listed on the New York Stock Exchange, hereby
certify that, at a duly convened meeting of the Board of Directors of each
Fund held on November 15, 2006, the Board of Directors duly and unanimously
approved the following preambles and resolution:


		WHEREAS, the Nominating and Corporate Governance Committee of
	the Board has recommended to the full Board that the Boards mandatory
	retirement age be changed from 72 to 74; and

		WHEREAS, the Board has accepted the Nominating and Corporate
	Governance Committees recommendation and has determined that it is in
	the best interest of the Fund to change the Boards retirement age
	policy;

		NOW, THEREFORE, BE IT

		RESOLVED, that pursuant to the relevant section of the Funds
	Amended and Restated Bylaws (the Bylaws) concerning amendments to
	the Funds Bylaws, Article III, Section 13 of the Funds Bylaws be,
	and it hereby is, amended to read as follows:

			Section 13. Retirement. Each Director who has attained
			the age of seventy-four (74) years shall retire from
			service as a Director on the last day of the month in
			which he or she attains such age.  Notwithstanding
			anything in this Section, a Director may retire at any
			time as provided for in the governing instrument of the
			Fund.



	IN WITNESS WHEREOF, I have signed this certificate as of the 21st day
of November, 2006.

				GLOBAL HIGH INCOME FUND INC.
				INSURED MUNICIPAL INCOME FUND INC.
				INVESTMENT GRADE MUNICIPAL INCOME FUND INC.
				MANAGED HIGH YIELD PLUS FUND INC.
				STRATEGIC GLOBAL INCOME FUND, INC


					By:		/s/ Keith A. Weller
					Name:	        Keith A. Weller
					Title:	        Vice President and
							Assistant Secretary

EX-99

	Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of
Insured Municipal Income Fund Inc.

In planning and performing our audit of the financial statements of Insured
Municipal Income Fund Inc. (the Fund), for the year ended March 31, 2007,
in accordance with the standards of the Public Company Accounting Oversight
Board (United States), we considered its internal control over financial
reporting, including control activities for safeguarding securities, as a
basis for designing our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the requirements
of Form N-SAR, but not for the purpose of expressing an opinion on the
effectiveness of the Funds internal control over financial reporting.
Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A companys internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles. Such internal control includes policies and
procedures that provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of a companys
assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of any
evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a control does
not allow management or employees, in the normal course of performing their
assigned functions, to prevent or detect misstatements on a timely basis. A
significant deficiency is a control deficiency, or combination of control
deficiencies, that adversely affects the companys ability to initiate,
authorize, record, process or report external financial data reliably in
accordance with generally accepted accounting principles such that there
is more than a remote likelihood that a misstatement of the companys annual
or interim financial statements that is more than inconsequential will not be
prevented or detected. A material weakness is a significant deficiency, or
combination of significant deficiencies, that results in more than a remote
likelihood that a material misstatement of the annual or interim financial
statements will not be prevented or detected.

Our consideration of the Funds internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might be
significant deficiencies or material weaknesses under standards established
by the Public Company Accounting Oversight Board (United States). However, we
noted no deficiencies in the Funds internal control over financial reporting
and its operation, including controls for safeguarding securities that we
consider to be a material weakness as defined above as of March 31, 2007.

This report is intended solely for the information and use of management, the
Shareholders and the Board of Directors of Insured Municipal Income Fund Inc.,
and the Securities and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified parties.

      						ERNST & YOUNG LLP

May 14, 2007