Cohen & Steers
280 Park Avenue
New York, NY 10017
July 3, 2013
Securities and Exchange Commission
Filing Desk
100 F. Street N.E.
Washington, D.C. 20549
Re: | Joint Insured Fidelity Bond of: |
Cohen & Steers Closed-End Opportunity Fund, Inc. (File No. 811-21948) |
Cohen & Steers Dividend Majors Fund, Inc. (File No. 811-21633) |
Cohen & Steers Global Income Builder, Inc. (File No. 811-22057) |
Cohen & Steers Infrastructure Fund, Inc. (File No. 811-21485) |
Cohen & Steers Quality Income Realty Fund, Inc. (File No. 811-10481) |
Cohen & Steers REIT and Preferred Income Fund, Inc. (File No. 811-21326) |
Cohen & Steers Select Preferred and Income Fund, Inc. (File No. 811-22455) |
Cohen & Steers Total Return Realty Fund, Inc. (File No. 811-07154) |
Cohen & Steers Limited Duration Preferred and Income Fund, Inc. (File No. 811-22707) |
Ladies and Gentlemen:
Enclosed for filing on behalf of the above-referenced registered investment management companies (the Funds) pursuant to Rule 17g-1 of the Investment Company Act of 1940, as amended, are the following documents:
(i) | A copy of the endorsement to the joint Fidelity Bond (the Bond), extending coverage through December 31, 2013, issued by St. Paul Fire and Marine Insurance Company insuring the Funds is attached as Exhibit 1; |
(ii) | A copy of the joint Fidelity Bond Agreement between the joint insureds in accordance with Rule 17g-1(f) is attached as Exhibit 2; and |
(iii) | A copy of the resolutions of the Directors of each Board, a majority of whom are not interested persons of the Funds, approving the extension until December 31, 2013 of the Bond is attached as Exhibit 3. |
The premiums for the bond will be appropriately paid from June 30, 2013 through December 31, 2013.
This filing supplements the fidelity bond filing made with the Securities and Exchange Commission on August 9, 2012 (Accession number 0001193125-12-347920).
If there are any questions regarding this filing, please contact the undersigned at (212) 832-3232.
Very truly yours,
/s/ Tina M. Payne |
Tina M. Payne |
Assistant Secretary |
Exhibit 1
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if this endorsement or rider and the Bond or Policy have the same inception date. | ||||||
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. | DATE ENDORSEMENT OR RIDER EXECUTED | * EFFECTIVE DATE OF ENDORSEMENT OR RIDER | ||||
ZBN14R9141412N2 | 09/27/12 | 06/30/13 | 12:01 A.M. STANDARD TIME AS SPECIFIED IN THE BOND OR POLICY | |||
* ISSUED TO COHEN & STEERS CLOSEDEND FUND COMPLEX |
AMEND DECLARATIONS
It is agreed that: The following checked items are amended on the Declarations Page:
¨ | Item 1. | Name of Insured 1Principal Address: | ||
From: | ||||
To: | ||||
x | Item 2. | Bond Period: | ||
From: 12:01 a.m. on 06/30/2012 to 12:01 a.m. on 12/31/2013 the effective date of the termination or cancellation of the bond, standard time at the Principal Address as to each of said dates. | ||||
¨ | Item 3. | Limit of Liability is hereby amended to read as follows: |
Limit of Liability | Deductible Amount | |||
Insuring Agreement A- Fidelity | $ | $ | ||
Insuring Agreement B - Audit Expense | $ | $ | ||
Insuring Agreement C - Premises | $ | $ | ||
Insuring Agreement D - Transit | $ | $ | ||
Insuring Agreement E - Forgery or Alteration | $ | $ | ||
Insuring Agreement F - Securities | $ | $ | ||
Insuring Agreement G - Counterfeit Currency | $ | $ | ||
Insuring Agreement H - Stop Payment | $ | $ | ||
Insuring Agreement I - Uncollectible Items of Deposit | $ | $ | ||
Optional Coverages Added by Rider: | ||||
$ | $ | |||
$ | $ | |||
$ | $ | |||
$ | $ | |||
$ | $ |
¨ | Item 4. | Offices or Premises Covered: | ||
The following offices or premises are added: |
This endorsement applies to loss sustained at any time but discovered on or after the date this endorsement becomes effective.
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, provisions, agreements or limitations of the above mentioned Bond or Policy, other than as above stated.
By |
| |
Authorized Representative | ||
INSURED |
ICB028 Ed. 7-04
© 2004 The Travelers Indemnity Company. All rights reserved.
Exhibit 2
FIDELITY BOND AGREEMENT
This Agreement is made as of this 19th day of September, 2012 by and among Cohen & Steers Capital Management, Inc. (the Adviser), Cohen & Steers Closed-End Opportunity Fund, Inc. Cohen & Steers Dividend Majors Fund, Inc., Cohen & Steers Global Income Builder, Inc., Cohen & Steers Infrastructure Fund, Inc., Cohen & Steers Quality Income Realty Fund, Inc., Cohen & Steers REIT and Preferred Income Fund, Inc., Cohen & Steers Select Preferred and Income Fund, Inc., Cohen & Steers Total Return Realty Fund, Inc. and Cohen & Steers Limited Duration Preferred and Income Fund, Inc. (collectively, the Funds).
W I T N E S S E T H:
WHEREAS, each of the Funds are a registered investment company under the Investment Company Act of 1940 (the Act); and
WHEREAS, the Adviser has agreed to provide certain administrative services to the Funds, including the purchase of a bond required by the Act and Rule 17g-1 promulgated thereunder pursuant to which the Funds and the Adviser are named insureds; and
WHEREAS, Rule 17g-1 requires that the named insureds under such a bond enter into an agreement with respect to certain matters.
NOW, THEREFORE, in consideration of the premises and the terms and provisions hereinafter set forth, the parties hereto agree as follows:
1. Procurement of Bond. The Adviser agrees to procure a Bond on behalf of the Funds from a reputable fidelity insurance company, designating the Adviser and the Funds as named insureds (the Bond).
2. Amount. The Bond shall be in the amount based upon the total assets of each Fund, which are equal to or in excess of the minimum coverage required for each Fund under Rule 17g-1 and federal statutes and regulations.
3. Minimum Recovery. In the event recovery is received under the Bond as a result of a loss sustained by the Adviser or one or more of the Funds, each Fund shall receive an equitable and proportionate share of the recovery, which shall be at least equal to the amount that each Fund would have received had it provided and maintained a single insured bond with the minimum coverage required by Rule 17g-1(d)(1).
4. Term. The term of this Agreement shall be through December 31, 2013 and shall continue thereafter so long as the continuance is specifically approved annually by a majority of the independent directors of each Fund and a majority of the entire Board of Directors of each Fund.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date first written above.
COHEN & STEERS CAPITAL MANAGEMENT, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Senior Vice President |
2
COHEN & STEERS CLOSED END OPPORTUNITY FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS DIVIDEND MAJORS FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS GLOBAL INCOME BUILDER, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS INFRASTRUCTURE FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS QUALITY INCOME REALTY FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary |
3
COHEN & STEERS SELECT PREFERRED AND INCOME FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS TOTAL RETURN REALTY FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary | ||
COHEN & STEERS LIMITED DURATION PREFERRED AND INCOME FUND, INC. | ||
By: | /s/ Tina M. Payne | |
Tina M. Payne | ||
Assistant Secretary |
4
Exhibit 3
COHEN & STEERS CLOSED-END OPPORTUNITY FUND, INC.
COHEN & STEERS DIVIDEND MAJORS FUND, INC.
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
COHEN & STEERS INFRASTRUCTURE FUND, INC.
COHEN & STEERS QUALITY INCOME REALTY FUND, INC.
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
COHEN & STEERS SELECT PREFERRED AND INCOME FUND, INC.
COHEN & STEERS TOTAL RETURN REALTY FUND, INC.
COHEN & STEERS LIMITED DURATION PREFERRED AND INCOME FUND, INC.
(collectively, the Funds)
Certificate of Assistant Secretary
The undersigned, being the duly elected Assistant Secretary of the above-referenced Funds, each a Fund organized under the laws of the State of Maryland, hereby certifies that the following are the true and complete resolutions approved by the Board of Directors at a meeting held on September 19, 2012, and that said resolutions have not been revoked or amended and are now in full force and effect.
RESOLVED, that it is the determination of the Board, including a majority of the Independent Directors, that the extension until December 31, 2013 of the joint insured fidelity bond among the closed-end registered Funds (the Closed-end Bond) written by St. Paul Fire and Marine Insurance Company in the amount of $7,825,000, insuring the Fund and the other parties named as insured parties under the Closed-end Bond (the Parties) for covered acts or omissions of the Funds officers and employees, in accordance with the requirements of Rule 17g-1 under the 1940 Act, as previously approved at the June 19, 2012 Meeting of the Boards of Directors and as presented at this meeting, is reasonable in form and amount after having given due consideration to all relevant factors including, but not limited to, the value of the aggregate assets of the Fund to which any such covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of such assets and the nature of the securities in the Funds portfolio; and
RESOLVED, that the Board, including a majority of the Independent Directors, hereby approves the payment by each Fund of the portion of the extension premium for coverage under the Closed-end Bond, as the case may be, in the amount described at this meeting, having given due consideration to all relevant factors including, but not limited to, the number of other Parties, the nature of the business activities of such other Parties, the amount of the relevant Bond, and the ratable allocation of the premium among all the relevant Parties and the extent to which the share of the premium allocated to such Fund is less than the premium the Fund would have had to pay if it had provided and maintained a single insured bond; and
RESOLVED, that each of the appropriate officers of the Fund hereby is authorized to take such actions as may be required to amend the Bonds to include in the coverage new funds advised, sub-advised or administered by CSCM or its affiliates, as of the date each is declared effective by the Securities and Exchange Commission (the SEC); and
RESOLVED, that each of the President, any Vice President, the Secretary, any Assistant Secretary and the Treasurer hereby is designated as the officer responsible for making all filings with the SEC and giving all notices on behalf of the Fund with respect to the Bonds required by paragraph (g) of Rule 17g-1 under the 1940 Act; and
RESOLVED, that the form, terms and conditions of each Joint Fidelity Bond Agreement (each an Agreement) between and among the Fund and the relevant Parties, substantially in the form discussed at this meeting, hereby are adopted and approved, and that each of the President, any Vice President, the Secretary, any Assistant Secretary and the Treasurer hereby is authorized and directed to execute and deliver the Agreement on behalf of the Fund with such changes therein as such officer determines is necessary or desirable, the execution thereof to be conclusive evidence of such determination; and
RESOLVED, that the actions taken by the appropriate officer or officers in respect of the matters referred to in the preceding resolutions hereby are ratified, adopted, and confirmed in all respects.
IN WITNESS WHEREOF, the undersigned has executed this certificate as Assistant Secretary of the above mentioned Funds on this 3rd day of July, 2013.
/s/ Tina M. Payne |
Tina M. Payne |
Assistant Secretary |