EXHIBIT INDEX
EXHIBIT A:
Attachment to item 77B:
Accountant's report on internal control.
EXHIBIT B:
Attachment to item 77C:
Submission of matters to a vote of security holders.
EXHIBIT C:
Attachment to item 77O:
Transactions effected pursuant to Rule 10f-3
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EXHIBIT A:
Report of Independent Auditors
To the Shareholders and
Board of Trustees of
DLJ High Yield Bond Fund
In planning and performing our audit of the financial statements of DLJ
High Yield Bond Fund for the year ended October 31, 2000, we considered
its internal control, including control activities for safeguarding
securities, to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on internal
control.
The management of DLJ High Yield Bond Fund is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of control. Generally,
internal controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those internal controls include the safeguarding of assets
against unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, misstatements due to
errors or fraud may occur and not be detected. Also, projections of any
evaluation of internal control to future periods are subject to the risk
that internal control may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or
operation of one or more of the specific internal control components does
not reduce to a relatively low level the risk that errors or fraud in
amounts that would be material in relation to the financial statements
being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions.
However, we noted no matters involving internal control, including
control activities for safeguarding securities, and its operation that we
consider to be material weaknesses as defined above at October 31, 2000.
This report is intended solely for the information and use of the Board
of Trustees and management of DLJ High Yield Bond Fund, and the
Securities and Exchange Commission and is not intended to be and should
not be used by anyone other than these specified parties.
ERNST & YOUNG LLP
December 20, 2000
EHIBIT B:
A special meeting of DLJ High Yield Bond Fund's shareholders was held on
July 17, 2000 for the purpose of considering and acting upon the matters
set forth in the Proxy Statement and summarized below. A quorum was
represented at the meeting and the voting results are set forth below:
A. ELECTION OF TRUSTEES OF THE FUND FOR EACH CLASS (I AND II):
For Against
Wilmot H. Kidd, III (Class I) 43,724,072.8040 262,144.8130
Stig Host (Class II) 43,724,072.8040 265,144.8130
Peter F. Krogh (Class I) 43,769,500.8040 269,726.8130
John J. Sheehan (Class I) 43,721,040.8040 268,176.8130
B. SELECTION OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS OF THE FUND FOR
THE FISCAL YEAR ENDING OCTOBER 31, 2000:
For Against Abstain
43,701,147.5090 211,275.0000 176,795.1080
EXHIBIT C:
Exhibit 77o
DLJ High Yield Bond Fund
10f-3 Report
PURC %OF
ISSUER/ TRADE CATE- 3 YRS SELLING FACE PRICE PER ISSUE(2)
DESCRIPTION DATE GORY(1) OPS BROKER AMOUNT SHARE
Leap 02/17/00 (iv) yes MSCO $1,000 units $50.375 .15%
Wireless,Inc.
14 1/2% 04/15/10
Leap 02/17/00 (iv) yes MSCO $3,000 units $101.375 1.33%
Wireless,Inc.
12 1/2% 04/15/10
XM Satelitte 03/10/00 (iv) yes BEST $6,000 units $100 1.85%
Radio, Inc.
14% 03/15/10
(1) Securities are (i) part of an issue registered under the Securities
Act of 1933 (the "1933 Act") that is being offered to the public, (ii)
Eligible Municipal Securities (as defined in Rule 10f-3 under the 1940
Act (the "Rule")), (iii) securities sold in an Eligible Foreign Offering
(as defined in the Rule), or (iv) securities sold in an Eligible Rule 144A
Offering (as defined in the Rule).
(2) Represents purchases by all affiliated funds: may not exceed (i) if
an offering other than an Eligible Rule 144A offering, 25% of the principal
amount of the offering or (ii) if an Eligible Rule 144A offering, 25% of the
total of (x) the principal amount of the offering of such class sold by
underwriters or members of the selling syndicate to Qualified Institutional
Buyers, as defined in Rule 144A (a)(1) under the 1933 Act, plus (y) the
principal amount of the offering of such class in any concurrent public
offering.
