(Information in the below tables is per the Fund’s regulatory Form N-CSR Filings)

                   
Cumulative Cumulative
GAAP Basis Tax Basis

UNII

UNII
Inception (5/17/05 to 10/31/05) $226,733 $226,733
Fiscal year-ended 10/31/06 $267,904 $267,904
Fiscal year-ended 10/31/07 $280,403 $395,888
Fiscal year-ended 10/31/08 $1,678,984 $2,850,709
Fiscal year-ended 10/31/09 $1,237,794 $4,334,592
Fiscal year-ended 10/31/10 $4,493,077 $6,843,075
Fiscal year-ended 10/31/11 $3,958,078 $7,646,720
Fiscal year-ended 10/31/12 ($1,191,667 ) $1,006,840
 

The Fund’s distributions over the past few years have been set at levels that took into account both the earnings of the Fund, as well as the built up cushion of UNII, as illustrated in the table below.
                       
GAAP Basis Per Share
Net Inv Inc Dist From Per Share

Per Share

Net Inv Inc

Difference
Inception (5/17/05 to 10/31/05) $0.36 ($0.31 ) $0.05
Fiscal year-ended 10/31/06 $1.03 ($1.06 ) ($0.03 )
Fiscal year-ended 10/31/07 $1.04 ($1.02 ) $0.02
Fiscal year-ended 10/31/08 $1.49 ($1.12 ) $0.37
Fiscal year-ended 10/31/09 $1.57 ($1.37 ) $0.20
Fiscal year-ended 10/31/10 $2.06 ($1.65 ) $0.41
Fiscal year-ended 10/31/11 $1.69 ($2.03 ) ($0.34 )
Fiscal year-ended 10/31/12 $1.28 ($2.03 ) ($0.75 )
 

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to preserve capital. The Fund pursues these investment objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund’s investment sub-advisor, offer an attractive combination of credit quality, yield and maturity.

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