Form N-1a - United States Securities And Exchange Commission Page 41
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54Instruction
Disclose in a footnote to the table the type of services rendered in consideration for the compensation listed under column (5).
(c) Other Payments. With respect to any payments made by the Fund to an underwriter or dealer in the Fund’s shares during the
Fund’s last fiscal year, disclose the name and address of the underwriter or dealer, the amount paid and basis for determining that
amount, the circumstances surrounding the payments, and the consideration received by the Fund. Do not include information
about:
(1)
Payments made through deduction from the offering price at the time of sale of securities issued by the Fund;
(2)
Payments representing the purchase price of portfolio securities acquired by the Fund;
(3)
Commissions on any purchase or sale of portfolio securities by the Fund; or
(4)
Payments for investment advisory services under an investment advisory contract.
Instructions
1.
Do not include in response to this paragraph information provided in response to paragraph (b) or with respect to service
fees under the Instruction to Item 12(b)(2). Do not include any payment for a service excluded by Instructions 1 and 2 to
Item 19(d) or by Instruction 2 to Item 34.
2.
If the payments were made under an arrangement or policy applicable to dealers generally, describe only the arrangement
or policy.
Item 26. Calculation of Performance Data
(a) Money Market Funds. Yield quotation(s) for a Money Market Fund included in the prospectus should be calculated according to
paragraphs (a)(1) – (4).
Yield Quotation. Based on the 7 days ended on the date of the most recent balance sheet included in the registration
(1)
statement, calculate the Fund’s yield by determining the net change, exclusive of capital changes and income other than
investment income, in the value of a hypothetical pre-existing account having a balance of one share at the beginning of the
period, subtracting a hypothetical charge reflecting deductions from shareholder accounts, and dividing the difference by
the value of the account at the beginning of the base period to obtain the base period return, and then multiplying the base
period return by (365/7) with the resulting yield figure carried to at least the nearest hundredth of one percent.
Effective Yield Quotation. Based on the 7 days ended on the date of the most recent balance sheet included in the
(2)
registration statement, calculate the Fund’s effective yield, carried to at least the nearest hundredth of one percent, by
determining the net change, exclusive of capital changes and income other than investment income, in the value of a
hypothetical pre-existing account having a balance of one share at the beginning of the period, subtracting a hypothetical
charge reflecting deductions from shareholder accounts, and dividing the difference by the value of the account at the
beginning of the base period to obtain the base period return, and then compounding the base period return by adding 1,
raising the sum to a power equal to 365 divided by 7, and subtracting 1 from the result, according to the following formula:
EFFECTIVE YIELD = [(BASE PERIOD RETURN + 1)
] - 1.
365/7
(3)
Tax Equivalent Current Yield Quotation. Calculate the Fund’s tax equivalent current yield by dividing that portion of the
Fund’s yield (as calculated under paragraph (a)(1)) that is tax-exempt by 1 minus a stated income tax rate and adding the
quotient to that portion, if any, of the Fund’s yield that is not tax-exempt.
(4)
Tax Equivalent Effective Yield Quotation. Calculate the Fund’s tax equivalent effective yield by dividing that portion of
the Fund’s effective yield (as calculated under paragraph (a)(2)) that is tax-exempt by 1 minus a stated income tax rate and
adding the quotient to that portion, if any, of the Fund’s effective yield that is not tax-exempt.
Instructions
1.
When calculating yield or effective yield quotations, the calculation of net change in account value must include:
(a)
The value of additional shares purchased with dividends from the original share and dividends declared on both the
original shares and additional shares; and
(b)
All fees, other than non-recurring account or sales charges, that are imposed on all shareholder accounts in proportion
to the length of the base period. For any account fees that vary with the size of the account, assume an account size
equal to the Fund’s mean (or median) account size.
2.
Exclude realized gains and losses from the sale of securities and unrealized appreciation and depreciation from the
calculation of yield and effective yield. Exclude income other than investment income.
3.
Disclose the amount or specific rate of any nonrecurring account or sales charges not included in the calculation of
the yield.
34
SEC 2052 (10/16)
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