Principal Amount |
Value (Note 1) |
||||||||||
CONVERTIBLE BONDS AND NOTES 59.8% |
|||||||||||
Airlines 1.3% |
|||||||||||
Hawaiian Holdings, Inc., 5.00%, Due 3/15/16, (BB) |
$ | 1,375,000 | $ | 1,527,969 | |||||||
Biotechnology 4.0% |
|||||||||||
Exelixis, Inc., 4.25%, Due 8/15/19, (BB) |
500,000 | 489,062 | |||||||||
Gilead Sciences, Inc., 1.00%, Due 5/1/14, (A) |
750,000 | 1,230,000 | |||||||||
Gilead Sciences, Inc., 1.625%, Due 5/1/16, (A) |
1,000,000 | 1,688,130 | |||||||||
Isis Pharmaceuticals, Inc., 2.75%, Due 10/1/19, (BB) (1) |
600,000 | 595,875 | |||||||||
Regeneron Pharmaceuticals, Inc., 1.875%, Due 10/1/16, (A) |
250,000 | 524,062 | |||||||||
4,527,129 | |||||||||||
Capital Markets 1.7% |
|||||||||||
Knight Capital Group, Inc., 3.50%, Due 3/15/15, (NR) |
500,000 | 499,062 | |||||||||
Prospect Capital Corp., 5.75%, Due 3/15/18, (BBB) (1) |
1,500,000 | 1,478,438 | |||||||||
1,977,500 | |||||||||||
Commercial Services & Supplies 1.0% |
|||||||||||
Encore Capital Group, Inc., 3.00%, Due 11/27/17, (AA) (1) |
1,000,000 | 1,108,125 | |||||||||
Communications Equipment 1.6% |
|||||||||||
Finisar Corp., 5.00%, Due 10/15/29, (NR) |
75,000 | 137,859 | |||||||||
Ixia, 3.00%, Due 12/15/15, (A) |
500,000 | 583,125 | |||||||||
InterDigital, Inc., 2.50%, Due 3/15/16, (BBB) |
1,000,000 | 1,068,750 | |||||||||
1,789,734 | |||||||||||
Computers & Peripherals 2.7% |
|||||||||||
EMC Corp., 1.75%, Due 12/1/13, (A) |
1,400,000 | 2,235,632 | |||||||||
NetApp Inc., 1.75%, Due 6/1/13, (BBB) |
250,000 | 282,188 | |||||||||
SanDisk Corp., 1.50%, Due 8/15/17, (BB) |
500,000 | 582,500 | |||||||||
3,100,320 | |||||||||||
Construction Materials 1.0% |
|||||||||||
CEMEX S.A.B. de C.V., 4.875%, Due 3/15/15, (NR) |
1,000,000 | 1,095,000 | |||||||||
Consumer Finance 1.2% |
|||||||||||
DFC Global Corp., 3.25%, Due 4/15/17, (B) (1) |
1,250,000 | 1,367,969 | |||||||||
Diversified Telecommunication Services 0.6% |
|||||||||||
Alaska Communications Systems Inc., 6.25%, Due 5/1/18, (BB) |
1,000,000 | 675,000 | |||||||||
Electrical Equipment 1.0% |
|||||||||||
General Cable Corp., 4.50%, Due 11/15/29, (B) (2) |
1,000,000 | 1,083,750 | |||||||||
Energy Equipment & Services 0.8% |
|||||||||||
Bristow Group Inc., 3.00%, Due 6/15/38, (BB) |
155,000 | 165,462 | |||||||||
Hornbeck Offshore Services, Inc., 1.50%, Due 9/1/19, (BB) (1) |
750,000 | 757,500 | |||||||||
922,962 |
Principal Amount |
Value (Note 1) |
||||||||||
CONVERTIBLE BONDS AND NOTES continued |
|||||||||||
Food Products 0.4% |
|||||||||||
Chiquita Brands International, 4.25%, Due 8/15/16, (B) |
$ | 581,000 | $ | 508,375 | |||||||
Health Care Equipment & Supplies 2.0% |
|||||||||||
Chemed Corp., 1.875%, Due 5/15/14, (A) |
890,000 | 931,719 | |||||||||
Insulet Corp., 3.75%, Due 6/15/16, (A) |
750,000 | 817,969 | |||||||||
Volcano Corp., 1.75%, Due 12/1/17, (A) |
500,000 | 506,250 | |||||||||
2,255,938 | |||||||||||
Health Care Providers & Services 0.9% |
|||||||||||
Lifepoint Hospitals, Inc., 3.50%, Due 5/15/14, (B) |
1,000,000 | 1,033,125 | |||||||||
Hotels, Restaurants & Leisure 2.2% |
|||||||||||
International Game Technology, 3.25%, Due 5/1/14, (NR) (1) |
500,000 | 524,062 | |||||||||
MGM Resorts International, 4.25%, Due 4/15/15, (B) |
1,000,000 | 1,060,625 | |||||||||
Morgans Hotel Group Co., 2.375%, Due 10/15/14, (BB) |
1,000,000 | 947,500 | |||||||||
2,532,187 | |||||||||||
Household Durables 1.1% |
|||||||||||
Jarden Corp., 1.875%, Due 9/15/18, (B) (1) |
1,250,000 | 1,271,094 | |||||||||
Insurance 3.5% |
|||||||||||
AmTrust Financial Services, Inc., 5.50%, Due 12/15/21, (AAA) |
1,250,000 | 1,549,219 | |||||||||
National Financial Partners Corp., 4.00%, Due 6/15/17, (AAA) |
750,000 | 1,114,688 | |||||||||
Tower Group, Inc., 5.00%, Due 9/15/14, (A) |
1,250,000 | 1,270,312 | |||||||||
3,934,219 | |||||||||||
Internet & Catalog Retail 1.3% |
|||||||||||
Priceline.com Inc., 1.25%, Due 3/15/15, (BBB) (1) |
450,000 | 939,094 | |||||||||
Priceline.com Inc., 1.00%, Due 3/15/18, (BBB) (1) |
500,000 | 536,562 | |||||||||
1,475,656 | |||||||||||
Internet Software & Services 2.2% |
|||||||||||
Digital River, Inc., 2.00%, Due 11/1/30, (BBB) |
1,100,000 | 1,088,312 | |||||||||
Equinix, Inc., 3.00%, Due 10/15/14, (B) |
750,000 | 1,466,719 | |||||||||
2,555,031 | |||||||||||
IT Services 0.6% |
|||||||||||
CSG Systems International, Inc., 3.00%, Due 3/1/17, (A) |
650,000 | 683,312 | |||||||||
Machinery 0.5% |
|||||||||||
Chart Industries, Inc., 2.00%, Due 8/1/18, (B) |
500,000 | 618,438 | |||||||||
Marine 0.3% |
|||||||||||
DryShips Inc., 5.00%, Due 12/1/14, (BB) |
500,000 | 397,500 |
Principal Amount |
Value (Note 1) |
||||||||||
CONVERTIBLE BONDS AND NOTES continued |
|||||||||||
Metals & Mining 3.7% |
|||||||||||
A.M. Castle & Co., 7.00%, Due 12/15/17, (BB) (1) |
$ | 250,000 | $ | 401,250 | |||||||
Kaiser Aluminum Corp., 4.50%, Due 4/1/15, (BB) |
1,000,000 | 1,351,250 | |||||||||
Northgate Minerals Corp., 3.50%, Due 10/1/16, (NR) |
600,000 | 653,625 | |||||||||
RTI International Metals, Inc., 3.00%, Due 12/1/15, (BBB) |
600,000 | 654,375 | |||||||||
Stillwater Mining Company, 1.75%, Due 10/15/32, (B) |
500,000 | 585,312 | |||||||||
United States Steel Corp., 4.00%, Due 5/15/14, (BB) |
500,000 | 541,562 | |||||||||
4,187,374 | |||||||||||
Oil, Gas & Consumable Fuels 1.2% |
|||||||||||
Endeavour International Corp., 5.50%, Due 7/15/16, (CCC) |
500,000 | 375,312 | |||||||||
Goodrich Petroleum Corp., 5.00%, Due 10/1/29, (CCC) |
1,000,000 | 943,750 | |||||||||
1,319,062 | |||||||||||
Pharmaceuticals 2.2% |
|||||||||||
The Medicines Company, 1.375%, Due 6/1/17, (A) (1) |
250,000 | 275,000 | |||||||||
Mylan Inc., 3.75%, Due 9/15/15, (BBB) |
750,000 | 1,597,969 | |||||||||
Salix Pharmaceuticals Ltd., 2.75%, Due 5/15/15, (A) |
600,000 | 689,250 | |||||||||
2,562,219 | |||||||||||
Real Estate Investment Trusts 2.6% |
|||||||||||
Annaly Capital Management, Inc., 4.00%, Due 2/15/15, (BB) |
750,000 | 869,062 | |||||||||
Corporate Office Properties Trust, 4.25%, Due 4/15/30, (NR) |
500,000 | 518,438 | |||||||||
Lexington Realty Trust, 6.00%, Due 1/15/30, (AAA) |
1,000,000 | 1,542,500 | |||||||||
2,930,000 | |||||||||||
Semiconductors & Semiconductor Equipment 7.5% |
|||||||||||
GT Advanced Technologies, Inc., 3.00%, Due 10/1/17, (B) |
750,000 | 549,375 | |||||||||
Intel Corp., 2.95%, Due 12/15/35, (A) (2) |
1,500,000 | 1,562,812 | |||||||||
JinkoSolar Holding Co. Ltd., 4.00%, Due 5/15/16, (NR) |
250,000 | 111,406 | |||||||||
Micron Technology, Inc., 3.125%, Due 5/1/32, (BB) (1) |
1,000,000 | 978,750 | |||||||||
Micron Technology, Inc., 1.50%, Due 8/1/31, (BB) |
625,000 | 580,859 | |||||||||
Photronics, Inc., 3.25%, Due 4/1/16, (BBB) |
1,000,000 | 1,012,500 | |||||||||
ReneSola Ltd., 4.125%, Due 3/15/18, (NR) |
500,000 | 242,500 | |||||||||
Rudolph Technologies Inc., 3.75%, Due 7/15/16, (A) |
500,000 | 629,375 | |||||||||
SunPower Corp., 4.75%, Due 4/15/14, (BB) |
500,000 | 473,750 | |||||||||
SunPower Corp., 4.50%, Due 3/15/15, (BB) |
1,250,000 | 1,165,625 | |||||||||
Xilinx, Inc., 2.625%, Due 6/15/17, (BBB) |
866,000 | 1,183,172 | |||||||||
8,490,124 | |||||||||||
Software 6.6% |
|||||||||||
Bottomline Technologies, Inc., 1.50%, Due 12/1/17, (A) |
750,000 | 836,719 | |||||||||
Electronic Arts, 0.75%, Due 7/15/16, (BBB) |
500,000 | 463,438 | |||||||||
Mentor Graphics Corp., 4.00%, Due 4/1/31, (A) |
500,000 | 590,312 | |||||||||
Nuance Communications, Inc., 2.75%, Due 8/15/27, (BB) |
1,500,000 | 1,980,000 | |||||||||
Rovi Corp., 2.625%, Due 2/15/40, (BB) |
1,000,000 | 999,375 | |||||||||
Take-Two Interactive Software, Inc., 1.75%, Due 12/1/16, (BB) (1) |
750,000 | 717,188 | |||||||||
TeleCommunications Systems, Inc., 4.50%, Due 11/1/14, (BB) |
1,000,000 | 960,000 | |||||||||
Tibco Software Inc., 2.25%, Due 5/1/32, (BBB) (1) |
1,000,000 | 955,625 | |||||||||
7,502,657 |
Principal Amount |
Value (Note 1) |
||||||||||
CONVERTIBLE BONDS AND NOTES continued |
|||||||||||
Textiles, Apparel & Luxury Goods 0.7% |
|||||||||||
Iconix Brand Group, Inc., 2.50%, Due 6/1/16, (A) |
$ | 750,000 | $ | 780,469 | |||||||
Trading Companies & Distributors 2.2% |
|||||||||||
Kaman Corp., 3.25%, Due 11/15/17, (A) |
500,000 | 630,625 | |||||||||
Titan International, Inc., 5.625%, Due 1/15/17, (B) |
375,000 | 894,609 | |||||||||
Titan Machinery Inc., 3.75%, Due 5/1/19, (B) (1) |
1,000,000 | 945,625 | |||||||||
2,470,859 | |||||||||||
Wireless Telecommunications Services 1.2% |
|||||||||||
SBA Communications Corp., 4.00%, Due 10/1/14, (NR) |
600,000 | 1,421,625 | |||||||||
TOTAL CONVERTIBLE BONDS AND NOTES |
68,104,722 | ||||||||||
CONVERTIBLE PREFERRED STOCK 12.9% |
|||||||||||
Shares |
|||||||||||
Commercial Banks 4.7% |
|||||||||||
Fifth Third Bancorp, 8.50%, (BB) |
12,000 | 1,697,250 | |||||||||
Huntington Bancshares, Inc., 8.50%, (BBB) |
1,000 | 1,206,000 | |||||||||
Wells Fargo & Co., 7.50%, (BBB) |
2,000 | 2,450,000 | |||||||||
5,353,250 | |||||||||||
Diversified Financial Services 1.6% |
|||||||||||
Bank of America Corp., 7.25%, (BB) |
1,600 | 1,816,000 | |||||||||
Food Products 0.7% |
|||||||||||
Bunge Ltd., 4.875%, (BB) |
7,500 | 763,125 | |||||||||
Machinery 1.1% |
|||||||||||
Stanley Black & Decker, Inc., 4.75%, (BBB) |
10,000 | 1,207,200 | |||||||||
Media 0.9% |
|||||||||||
Interpublic Group of Companies, Inc., 5.25%, (B) |
1,000 | 1,072,190 | |||||||||
Oil, Gas & Consumable Fuels 1.6% |
|||||||||||
Chesapeake Energy Corp., 5.75%, (B) |
2,050 | 1,845,000 | |||||||||
Real Estate Investment Trusts 0.5% |
|||||||||||
Health Care REIT, Inc., 6.50%, (BB) |
10,000 | 571,900 | |||||||||
Speciality Retail 0.8% |
|||||||||||
Amerivon Holdings LLC, 4.00%, (NR) (1,3,4) |
610,778 | 910,059 | |||||||||
Amerivon Holdings LLC, common equity units, (NR) (1,3,4) |
272,728 | 32,727 | |||||||||
942,786 | |||||||||||
Thrifts & Mortgage Finance 1.0% |
|||||||||||
New York Community Capital Trust V, 6.00%, (BB) |
24,000 | 1,182,000 | |||||||||
TOTAL CONVERTIBLE PREFERRED STOCK |
14,753,451 |
Shares |
Value (Note 1) |
||||||||||
MANDATORY CONVERTIBLE SECURITIES 10.3% (5) |
|||||||||||
Aerospace & Defense 2.0% |
|||||||||||
United Technologies Corp., 7.50%, Due 8/1/22, (BBB) |
40,000 | 2,228,400 | |||||||||
Automobiles 1.5% |
|||||||||||
General Motors Co., 4.75%, Due 12/1/13, (NR) |
40,000 | 1,765,200 | |||||||||
Electric Utilities 2.4% |
|||||||||||
NextEra Energy, Inc., 5.599%, Due 6/1/17, (NR) |
7,500 | 379,275 | |||||||||
NextEra Energy, Inc., 5.889%, Due 9/1/18, (BBB) |
20,000 | 1,003,400 | |||||||||
PPL Corp., 8.75%, Due 5/1/19, (NR) |
25,000 | 1,343,250 | |||||||||
2,725,925 | |||||||||||
Insurance 1.0% |
|||||||||||
MetLife, Inc., 5.00%, Due 10/8/14, (BBB) |
25,000 | 1,111,750 | |||||||||
IT Services 0.5% |
|||||||||||
Unisys Corp., 6.25%, Due 3/1/14, (B) |
10,000 | 527,000 | |||||||||
Metals & Mining 0.2% |
|||||||||||
AngloGold Ashanti Ltd., 6.00%, Due 9/15/13, (NR) |
5,900 | 220,483 | |||||||||
Oil, Gas & Consumable Fuels 1.2% |
|||||||||||
Apache Corp., 6.00%, Due 8/1/13, (A) |
30,000 | 1,371,000 | |||||||||
Road & Rail 1.6% |
|||||||||||
Genesee & Wyoming, Inc., 5.00%, Due 10/1/15, (NR) |
10,000 | 1,121,300 | |||||||||
2010 Swift Mandatory Common Exchange Security Trust, 6.00%, Due 12/31/13, (NR) |
70,000 | 652,267 | |||||||||
1,773,567 | |||||||||||
TOTAL MANDATORY CONVERTIBLE SECURITIES (5) |
11,723,325 | ||||||||||
PREFERRED STOCK 0.4% |
|||||||||||
Metals & Mining 0.4% |
|||||||||||
Vale/P, (NR) |
20,145 | 408,944 | |||||||||
COMMON STOCK 13.5% |
|||||||||||
Diversified Telecommunication Services 4.3% |
|||||||||||
AT&T Inc. |
70,000 | 2,359,700 | |||||||||
Verizon Communications Inc. |
60,000 | 2,596,200 | |||||||||
4,955,900 | |||||||||||
Financial Services 0.7% |
|||||||||||
Citigroup Inc. |
19,547 | 773,271 |
Shares |
Value (Note 1) |
||||||||||
COMMON STOCK continued |
|||||||||||
Media 0.7% |
|||||||||||
Walt Disney Co. |
15,000 | 746,850 | |||||||||
Metals & Mining 0.7% |
|||||||||||
Newmont Mining Corp. |
18,000 | 835,920 | |||||||||
Oil, Gas & Consumable Fuels 1.4% |
|||||||||||
ConocoPhillips |
26,782 | 1,553,088 | |||||||||
Pharmaceuticals 3.9% |
|||||||||||
Abbott Laboratories |
18,000 | 1,179,000 | |||||||||
Bristol Myers Squibb Co. |
30,000 | 977,700 | |||||||||
Merck & Co., Inc. |
32,651 | 1,336,732 | |||||||||
Pfizer Inc. |
40,000 | 1,003,200 | |||||||||
4,496,632 | |||||||||||
Semiconductors & Semiconductor Equipment 0.5% |
|||||||||||
Intel Corp. |
25,000 | 515,750 | |||||||||
Software 1.4% |
|||||||||||
Microsoft Corp. |
58,600 | 1,566,378 | |||||||||
TOTAL COMMON STOCK |
15,443,789 | ||||||||||
Total Convertible Bonds and Notes 59.8% |
68,104,722 | ||||||||||
Total Convertible Preferred Stock 12.9% |
14,753,451 | ||||||||||
Total Mandatory Convertible Securities 10.3% |
11,723,325 | ||||||||||
Total Preferred Stock 0.4% |
408,944 | ||||||||||
Total Common Stock 13.5% |
15,443,789 | ||||||||||
Total Investments 96.9% |
110,434,231 | ||||||||||
Other Assets and Liabilites 3.1% |
3,505,135 | ||||||||||
Total Net Assets 100.0% |
$ | 113,939,366 |
Security |
Acquisition Date |
|
Shares |
|
Cost |
|
Price per Share |
|
Value |
|
% Net Assets |
|||||||||||||
Amerivon Holdings LLC series A 4.00% cv. pfd. |
April 1, 2010 |
610,778 | $ | 1,500,000 | $ | 1.328 | $ | 910,059 | 0.8 | % | ||||||||||||||
Amerivon Holdings LLC common equity units |
April 1, 2010 |
272,728 | 0 |
0.010 | 32,727 | 0.0 | % |
AAA |
2 | % | ||||
AA |
1 | % | ||||
A |
16 | % | ||||
BBB |
20 | % | ||||
BB |
18 | % | ||||
B |
18 | % | ||||
CCC & below |
2 | % | ||||
Not Rated |
23 | % |
* |
Excludes common stocks and cash. |
Level 1 |
|
Level 2 |
|
Level 3 |
|
Totals |
|||||||||||||||||||||
Investments in Securities: |
|||||||||||||||||||||||||||
Common Stock: |
|||||||||||||||||||||||||||
Diversified Telecommunications Services |
$ | 4,955,900 | $ | | $ | | $ | 4,955,900 | |||||||||||||||||||
Financial Services |
773,271 | | | 773,271 | |||||||||||||||||||||||
Media |
746,850 | | | 746,850 | |||||||||||||||||||||||
Metals and Mining |
835,920 | | | 835,920 | |||||||||||||||||||||||
Oil, Gas & Consumable Fuels |
1,553,088 | | | 1,553,088 | |||||||||||||||||||||||
Pharmaceuticals |
4,496,632 | | | 4,496,632 | |||||||||||||||||||||||
Semiconductors & Semiconductors Equipment |
515,750 | | | 515,750 | |||||||||||||||||||||||
Software |
1,566,378 | | | 1,566,378 | |||||||||||||||||||||||
Total Common Stock |
15,443,789 | | | 15,443,789 | |||||||||||||||||||||||
Convertible Bonds and Notes |
| 68,104,722 | | 68,104,722 | |||||||||||||||||||||||
Convertible Preferred Stock |
| 13,810,665 | 942,786 | 14,753,451 | |||||||||||||||||||||||
Mandatory Convertible Securities |
| 11,723,325 | | 11,723,325 | |||||||||||||||||||||||
Preferred Stock |
| 408,944 | | 408,944 | |||||||||||||||||||||||
Total Investments |
$ | 15,443,789 | $ | 94,047,656 | $ | 942,786 | $ | 110,434,231 |
Convertible Preferred Stocks |
|||||
Beginning balance |
$ | 918,396 | |||
Change in unrealized appreciation (depreciation) |
24,390 | ||||
Net transfers in/out of Level 3 |
| ||||
Ending balance |
$ | 942,786 |
By: |
/s/Thomas H. Dinsmore Thomas H. Dinsmore Chairman of the Board and Chief Executive Officer (Principal Executive Officer) |
By: |
/s/Thomas H. Dinsmore Thomas H. Dinsmore Chairman of the Board and Chief Executive Officer (Principal Executive Officer) |
By: |
/s/Gary I. Levine Gary I. Levine Chief Financial Officer (Principal Financial Officer) |
1. |
I have reviewed this report on Form N-Q of Ellsworth Fund Ltd.; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. |
The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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; |
(c)
|
Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
(d)
|
Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. |
The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
1. |
I have reviewed this report on Form N-Q of Ellsworth Fund Ltd.; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. |
The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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; |
(c)
|
Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
(d)
|
Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. |
The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |