EX-99.77B

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D000000 N SIGNATURE JASON MOORE TITLE ACCOUNTANT EX-99.77B 2 d780836dex9977b.htm EX-99.77B EX-99.77B

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of

American Strategic Income Portfolio Inc.

In planning and performing our audit of the financial statements of American Strategic Income Portfolio Inc.(the Fund) as of and for the period ended June 30, 2014, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund’s internal control over financial reporting, including controls over 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 Fund’s 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 fund’s 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. A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and directors of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s 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 deficiency in internal control over financial reporting 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 material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s 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 material weaknesses under standards established by the Public Company Accounting Oversight Board (United States).

However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of June 30, 2014.

This report is intended solely for the information and use of management and the Board of Directors of American Strategic Income Portfolio 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.

/s/ Ernst & Young LLP

Chicago, Illinois

August 22, 2014

EX-99.77C 3 d780836dex9977c.htm EX-99.77C EX-99.77C

SHAREHOLDER MEETING RESULTS

A Special Meeting of the fund’s shareholders was held on August 15, 2014 for ASP, BSP, CSP, and SLA. Each matter voted upon at the meeting, as well as the number of votes cast for, against or withheld, the number of abstentions, and the number of broker non-votes (if any) with respect to such matters, are set forth below.

(1)

For each fund, to approve an Agreement and Plan of Merger pursuant to which each fund will merge with and into DRAIF Merger Sub, LLC (the “Merger Sub”), a Massachusetts limited liability company and a wholly-owned subsidiary of Diversified Real Asset Income Fund, a newly organized Massachusetts business trust (the “Acquiring Fund”), with shareholders of each fund receiving newly issued common shares of the Acquiring Fund in exchange for their fund shares (with cash being distributed in lieu of any fractional Acquiring Fund common shares). The following votes were cast regarding this matter:


Fund	Shares Voted “For”		Shares Voted “Against”		Abstentions		Broker Non-Votes
ASP		2,189,927		85,018		44,043		—
BSP		10,505,256		330,188		80,882		—
CSP		14,125,350		260,660		108,453		—
SLA		5,917,874		212,413		114,264		—

(2)	(a) To approve a new sub-advisory agreement between USBAM and Nuveen Fund Advisors, LLC. The following votes were cast regarding this matter:


Fund	Shares Voted “For”		Shares Voted “Against”		Abstentions		Broker Non-Votes
ASP		2,202,011		74,236		42,741		—
BSP		10,517,660		307,643		91,023		—
CSP		14,156,364		216,737		121,362		—
SLA		5,944,506		182,407		117,638		—

(2)	(b) To approve a new sub-advisory agreement between USBAM and Nuveen Asset Management, LLC. The following votes were cast regarding this matter:


Fund	Shares Voted “For”		Shares Voted “Against”		Abstentions		Broker Non-Votes
ASP		2,200,135		72,812		46,041		—
BSP		10,521,217		302,058		93,051		—
CSP		14,158,427		217,067		118,969		—
SLA		5,944,460		187,403		112,688		—

Also on August 15, 2014, ASP, BSP, CSP, and SLA each held an annual meeting of shareholders to consider the election of directors. The number of votes cast for and the number of votes withheld are set forth below.


	ASP				BSP
	Shares Voted “For”		Shares Withholding Authority to Vote		Shares Voted “For”		Shares Withholding Authority to Vote
Roger A. Gibson		3,109,795		158,100		12,785,623		589,179
John P. Kayser		3,111,026		156,869		12,784,856		589,946
Leonard W. Kedrowski		3,109,757		158,138		12,792,837		581,965
Richard K. Riederer		3,109,795		158,100		12,775,103		599,699
James M. Wade		3,109,757		158,138		12,778,628		596,174

	CSP				SLA
	Shares Voted “For”		Shares Withholding Authority to Vote		Shares Voted “For”		Shares Withholding Authority to Vote
Roger A. Gibson		17,985,838		363,539		8,600,962		304,848
John P. Kayser		17,984,748		364,629		8,594,147		311,663
Leonard W. Kedrowski		17,985,057		364,320		8,596,999		308,811
Richard K. Riederer		17,977,985		371,392		8,593,669		312,141
James M. Wade		17,979,723		369,654		8,593,789		312,021