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<PER-SHARE-NAV-END> 14.13
<EXPENSE-RATIO> 1.98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000860916
<NAME> PRUDENTIAL MULTI-SECTOR FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> PRUDENTIAL MULTI-SECTOR FUND, INC. (CLASS C)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 417,351,885
<INVESTMENTS-AT-VALUE> 485,123,768
<RECEIVABLES> 8,087,161
<ASSETS-OTHER> 2,796,340
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 496,007,269
<PAYABLE-FOR-SECURITIES> 15,519,640
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,088,421
<TOTAL-LIABILITIES> 18,608,061
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 380,890,230
<SHARES-COMMON-STOCK> 33,473,389
<SHARES-COMMON-PRIOR> 19,874,878
<ACCUMULATED-NII-CURRENT> 1,845,925
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 26,572,124
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 68,090,929
<NET-ASSETS> 477,399,208
<DIVIDEND-INCOME> 4,984,093
<INTEREST-INCOME> 2,738,582
<OTHER-INCOME> 0
<EXPENSES-NET> 7,288,939
<NET-INVESTMENT-INCOME> 433,736
<REALIZED-GAINS-CURRENT> 61,581,024
<APPREC-INCREASE-CURRENT> 54,111,793
<NET-CHANGE-FROM-OPS> 116,126,553
<EQUALIZATION> 443,875
<DISTRIBUTIONS-OF-INCOME> (433,736)
<DISTRIBUTIONS-OF-GAINS> (45,014,061)
<DISTRIBUTIONS-OTHER> (2,236)
<NUMBER-OF-SHARES-SOLD> 299,516,817
<NUMBER-OF-SHARES-REDEEMED> (200,926,665)
<SHARES-REINVESTED> 42,592,536
<NET-CHANGE-IN-ASSETS> 212,303,083
<ACCUMULATED-NII-PRIOR> 22,179
<ACCUMULATED-GAINS-PRIOR> 11,387,268
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,800,143
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,288,939
<AVERAGE-NET-ASSETS> 5,056,000
<PER-SHARE-NAV-BEGIN> 13.29
<PER-SHARE-NII> 2.47
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> (1.62)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.13
<EXPENSE-RATIO> 1.98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000860916
<NAME> PRUDENTIAL MULTI-SECTOR FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> PRUDENTIAL MULTI-SECTOR FUND, INC. (CLASS Z)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 417351885
<INVESTMENTS-AT-VALUE> 485123768
<RECEIVABLES> 8087161
<ASSETS-OTHER> 2796340
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 496007269
<PAYABLE-FOR-SECURITIES> 15519640
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3088421
<TOTAL-LIABILITIES> 18608061
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 380890230
<SHARES-COMMON-STOCK> 33473389
<SHARES-COMMON-PRIOR> 19874878
<ACCUMULATED-NII-CURRENT> 1845925
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 26572124
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 68090929
<NET-ASSETS> 477399208
<DIVIDEND-INCOME> 4984093
<INTEREST-INCOME> 2738582
<OTHER-INCOME> 0
<EXPENSES-NET> 7288939
<NET-INVESTMENT-INCOME> 433736
<REALIZED-GAINS-CURRENT> 61581024
<APPREC-INCREASE-CURRENT> 54111793
<NET-CHANGE-FROM-OPS> 116126553
<EQUALIZATION> 443875
<DISTRIBUTIONS-OF-INCOME> -433736
<DISTRIBUTIONS-OF-GAINS> -45014061
<DISTRIBUTIONS-OTHER> -2236
<NUMBER-OF-SHARES-SOLD> 299516817
<NUMBER-OF-SHARES-REDEEMED> -200926665
<SHARES-REINVESTED> 42592536
<NET-CHANGE-IN-ASSETS> 212303083
<ACCUMULATED-NII-PRIOR> 22179
<ACCUMULATED-GAINS-PRIOR> 11387268
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2800143
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7288939
<AVERAGE-NET-ASSETS> 20,298,000
<PER-SHARE-NAV-BEGIN> 13.91
<PER-SHARE-NII> 0.5
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.41
<EXPENSE-RATIO> 0.98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
For the fiscal year ended (a) 04/30/96 File number (c) 811-6047
SUB-ITEM 77 I
Terms of New or Amended Securities
On July 26, 1995, the Board of Directors authorized the issuance of 500
million Class Z shares. Class Z shares are not subject to either an initial or
contingent deferred sales charge nor are they subject to any Rule 12b-1 fees.
Class Z shares will be offered to a limited group of eligible investors
effective March 1, 1996.
For the fiscal year ended (a) 04/30/96 File number (c) 811-6047
SUB-ITEM 77 0 EXHIBITS
Transactions Effected Pursuant to Rule 10f-3 1. Name of Issuer
Donaldson, Lufkin, & Jenrette
2. Date of Purchase
10/25/95
3. Number of Securities Purchased
22,500
4. Dollar Amount of Purchase
$607,500
5. Price Per Unit
$27.00
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Donaldson, Lufkin, & Jenrette
7. Other Members of the Underwriting Syndicate
Advest, Inc.
Robert W. Baird & Co. Incorporated
Smith Barney, Inc.
Bear, Stearns & Co. Inc.
J.C. Bradford & Co.
Cowen & Company
The Chicago Dearborn Company
Crowell, Weedon & Co.
Davenport & Co. Of Virginia, Inc. Dominick & Dominick, Incorporated
Donaldson, Lufkin & Jenrette Securities Corporation A.G. Edwards & Sons, Inc.
Equitable Securities Corporation Fahnestock & Co. Inc.
First of Michigan Corporation J.J.B. Hilliard, W.L. Lyons, Inc. Janney
Montgomery Scott Inc. Johnson, Lemon & Co. Incorporated Ladenburg,
Thalmann & Co. Inc. Morgan Keegan & Company, Inc.
Legg Mason Wood Walker Incorporated Lehman Brothers Inc.
McDonald & Company Securities, Inc. Brean Murray, Foster Securities, Inc.
Needham & Company, Inc.
Neuberger & Berman
The Ohio Company
Pennsylvania Merchant Group Ltd. Piper Jaffray Inc.
Principal Financial Securities, Inc. Prudential Securities Incorporated
Ragen MacKenzie Incorporated Rauscher Pierce Refsnes, Inc. Raymond James
& Associates, Inc. The Robinson-Humphrey Company, Inc. Roney & Co.
Salomon Brothers Inc.
Scott & Stringfellow, Inc.
Stephens Inc.
Sutro & Co. Incorporated
Tucker Anthony Incorporated
Unterberg Harris
Wheat First Butcher Singer
Goldman Sachs & Co.
Merrill Lynch, Pierce, Fenner & Smith Inc. Morgan Stanley and Co. Inc.
Sanford C. Bernstein & Co. Inc.
CS First Boston Corp.
Alex, Brown & Sons Inc.
Chase Securities, Inc.
Chemical Securities Inc.
Credit Lyonnais Securities (USA) Inc. Dean Witter Reynolds Inc.
Deutsche Morgan Grenfell/C.J. Lawrence Inc. Dillion, Reed & Co. Inc.
Hambrecht & Quist LLC
Lazard Freres & Co. LLC
Montgomery Securities
J.P. Morgan Securities Inc.
Oppenheimer & Co. Inc.
PaineWebber Inc.
Robertson, Stephens & Company, L.P. Schroeder Wertheim & Co. Inc. Societe
Generale Securities Corp. UBS Securities Inc.
S.G. Warburg & Co. Inc.
Allen & Company Inc.
Arnhold and S. Bleichroeder, Inc. William Blair & Company
J.W. Charles Securities, Inc. Cleary Gull Reiland & McDevitt Inc. Conning &
Company
First Albany Corporation
First Manhattan Co.
First Marathon Securities Limited First Southwest Company
Robert Fleminig Inc.
Fox-Pitt, Kelton Inc.
Furman Seiz Inc.
Gruntal & Co. Inc.
Howard, Weil, Labouisse, Friedrichs Inc. Nesbitt Burns Securities Inc.
Parker/Hunter Inc.
Richardson Greenshields Securities Inc. Ryan, Beck & Co.
ScotiaMcLeod (USA) Inc.
Toronto Dominion Securities (USA) Inc. Wedbush Morgan Seurities
Wood Gundy Corp.
Anderson & Strudwick, Inc.
Black & Company Inc.
Ferris, Baker, Watts, Inc.
Hazlett, Burt & Watson, Inc.
C.L. King & Associates, Inc.
Laidlaw Equities, Inc.
WR Lazard, Laidlaw & Luther
Linsco Private Ledger Financial Services, Inc. Ormes Capital Markets, Inc.
Pryor, McClendon, Counts & Co., Inc.
Sands Brothers & Co. Ltd.
Muriel Siebert & Co., Inc.
Sterne, Agee & Leach, Inc.
International Managers:
Goldman Sachs International
Merrill Lynch International Limited ABN AMRO Bank N.V.
Banque Indosuez
UBS Limited
Donaldson, Lufkin & Jenrette Securities Incorporated Morgan Stamley & Co.
International Limited
Banque Paribas
Societe Generale
BBV-Interactivos, SVB,SA
AXA Banque
BNP Capital Markets Limited
Bayerische Landesbank Girozentrale
Comerzebank Aktiengesellschaft
CPR- Compagnie Parisienne de Reesoompte Credit Commercial de France
Credit Lyonnais Securities
Daiwa Europe Limited
Robert Fleming & Co. Limited
Internationale Nedelanden Bank N.V. (ING BANK) Kleinwort Benson Limited
Lazard Brothers & Co Limited
Peregrine Capital Limited
N M Rothschild & Sons Limited
Swiss Bank Corporation
For the fiscal year ended (a) 04/30/96
File number (c) 811-6047
SUB-ITEM 77 Q
Exhibits
On February 7, 1996, the Board of Directors approved and authorized a
proposal to increase the number of Directors, which shall constitute the Board
to ten (10), pursuant to Article II, Section I of the Fund's By-Laws.
PRINT ON COMPAQ
The Board of Directors of
Prudential Multi-Sector Fund, Inc.:
In planning and performing our audit of the financial statements of Prudential
Multi-Sector Fund, Inc. for the year ended April 30, 1996, we considered its
internal control structure, including procedures for safeguarding securities, in
order 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, not to provide assurance on the internal control structure.
The management of the Fund is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
April 30, 1996.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
June 13, 1996
- 2 -
11815.DOC - Windows - 10/27/95
Board of Directors or Trustees of:
Prudential Adjustable Rate Prudential IncomeVertible Fund
Securities Fund Prudential Intermediate Global
The BlackRock Government Income Income Fund
Trust Prudential Multi-Sector Fund
Prudential California Municipal Prudential Municipal Bond Fund (3
Fund (2 Portfolios) Portfolios)
Prudential Diversified Bond Prudential Municipal Series Fund
Fund (13 Portfolios)
Prudential Equity Fund Prudential National Municipals Fund
Prudential Equity Income Fund Prudential Pacific Growth Fund
Prudential Allocation Fund (2 Prudential Short-Term Global Income
Portfolios) Fund (2 Portfolios)
Prudential GNMA Fund Prudential Structured Maturity Fund
Prudential Global Fund Prudential U.S. Government Fund
Prudential Global Genesis Fund Prudential Utility Fund
Prudential Global Natural Global Utility Fund, Inc.
Resources Fund Nicholas-Applegate Fund.
Prudential Government Income
Fund
Prudential Growth Opportunity
Fund
Prudential High Yield Fund
We have examined the accompanying description of the Prudential Multiple Class
Pricing Worksheet (the "Worksheet") application of State Street Bank and Trust
Company ("State Street"), custodian and recordkeeper for the Prudential Mutual
Funds (the "Funds"). Our examination included procedures to obtain reasonable
assurance about whether (1) the accompanying description presents fairly, in all
material respects, the aspects of State Street's policies and procedures that
may be relevant to a Fund's internal control structure relating to the
Worksheet, (2) the control structure policies and procedures included in the
description were suitably designed to achieve the control objectives specified
in the description, if those policies and procedures were complied with
satisfactorily, and (3) such policies and procedures had been placed in
operation as of June 30, 1995. The control objectives were specified by
Prudential Mutual Fund Management. Our examination was performed in accordance
with standards established by the American Institute of Certified Public
Accountants and included those procedures we considered necessary in the
circumstances to obtain a reasonable basis for rendering our opinion.
In our opinion, the accompanying description of the aforementioned application
presents fairly, in all material respects, the relevant aspects of State
Street's policies and procedures that had been placed in operation as of
June 30, 1995. Also, in our opinion, the policies and procedures, as described,
are suitably designed to provide reasonable assurance that the specified control
objectives would be achieved if the described policies and procedures were
complied with satisfactorily.
In addition to the procedures we considered necessary to render our opinion as
expressed in the previous paragraph, we applied tests to specific policies and
procedures, listed in Section I, to obtain evidence about their effectiveness in
meeting the control objectives, described in Section I during the period from
July 1, 1994 to June 30, 1995. The nature, timing, extent, and results of the
tests are listed in Section II. In our opinion the policies and procedures that
were tested, as described in Section II, were operating with sufficient
effectiveness to provide reasonable, but not absolute, assurance that the
control objectives specified in Section I were achieved during the period from
July 1, 1994 to June 30, 1995.
The relative effectiveness and significance of specific policies and procedures
at State Street, and their effect on assessments of control risk on the Funds
are dependent on their interaction with the policies, procedures, and other
factors present at individual Funds. We have performed no procedures to
evaluate the effectiveness of policies and procedures at individual Funds in
connection with this report.
The description of policies and procedures at State Street is as of June 30,
1995, and information about tests of the operating effectiveness of specified
policies and procedures covers the period from July 1, 1994 to June 30, 1995.
Any projection of such information to the future is subject to the risk that,
because of change, the description may no longer portray the system in
existence. The potential effectiveness of specified policies and procedures at
State Street is subject to inherent limitations and, accordingly, errors or
irregularities may occur and not be detected. Furthermore, the projection of
any conclusions, based on our findings, to future periods is subject to the risk
that changes may alter the validity of such conclusions.
This report is intended solely for use by the management and Boards of
Directors/Trustees of the Funds, the independent auditors of the Funds and the
Securities and Exchange Commission.
August 21, 1995
SECTION I
Policies and Procedures Placed in Operation
Prudential Multiple Class Pricing Worksheet
The Prudential Mutual Funds (the "Funds") have adopted a multiple class pricing
system. The multiple class pricing system consists of three classes of shares
(Class A, Class B and Class C for all funds except the Florida Series of
Prudential Municipal Series Fund. This Fund offers Class A and Class D shares.)
for the Funds. The Class A shares are subject to a front-end sales load and the
Class B, Class C and Class D shares are subject to a contingent deferred sales
charge. Each of the classes of shares represent interests in the same portfolio
of investments of the respective Fund and are identical in all respects, except
that each class is subject to different distribution expenses and has exclusive
voting rights with respect to the Rule 12b-1 distribution plan pursuant to which
such distribution expenses are paid.
In order to allocate income and expenses among the classes of shares, State
Street Bank and Trust Company (the Funds' custodian and recordkeeper) utilizes
the Prudential Multiple Class Pricing Worksheet (the "Worksheet") (see Exhibit
I). The Worksheet is a manual supplementary application that extracts relevant
data from the Funds' primary accounting system, allocates income and expenses
among the classes of shares and computes the daily net asset value and, if
applicable, the dividend/distribution for each class of shares. Internal
accounting controls that are relevant to the Fund can be divided into two
components - controls related to the mutual fund accounting system resident at
State Street Bank and Trust Company (the "primary accounting system") and
controls related to the Worksheet.
The specific control objectives and policies and procedures relating to the
Worksheet are described on pages 4, 5 and 6. A description of the tests of the
policies and procedures designed to obtain evidence about the operating
effectiveness of those policies and procedures in achieving the specific control
objectives is included in Section II.
Control Objectives and Policies and Procedures
Prudential Multiple Class Pricing Worksheet
The Worksheet is a supplementary manual application to the Funds' primary
accounting system. Certain data is extracted from the primary accounting system
to allocate income and expenses and to calculate the daily net asset value and,
if applicable, dividends/distributions for each class of shares. The primary
accounting system includes the details of transactions in accordance with the
Investment Company Act of 1940, as amended.
The following represents the internal accounting control objectives and policies
and procedures for the allocation of income and expenses and the computation of
the net asset value and, if applicable, the dividend/distribution for each class
of shares utilizing the Worksheet. It does not cover the internal accounting
control policies and procedures surrounding the processing of information into
the Funds' primary accounting system.
CONTROL POLICIES CONTROL
OBJECTIVES AND PROCEDURES
A. Capital share activity as reported by the
1. Daily, the transfer agent forwards reports
of
Fund's transfer agent is recorded for each capital share activity
for each class which
class in an accurate and timely manner by includes a summary of
subscriptions,
the Fund. redemptions, exchanges and other
information (the "Supersheet"). The
opening day's balance for shares
outstanding
and current day activity is recorded
on the Worksheet.
2. Estimated interim share
activity for the current day not
recorded in the Supersheet is received
via telefax from the transfer agent and
is recorded for each class on the
Worksheet.
3. A report of outstanding shares
eligible for dividends is received from
the transfer agent and is recorded for
each class on the Worksheet.
B. Net Asset Value ("NAV") and, if
applicable, 1. The prior days
ending NAV per share
the dividend/distribution for each class
(unrounded) for each class is agreed to
the
are accurately computed on a daily
basis. prior day's Worksheet.
2. The daily net capital stock
activity for each class for the current
day is agreed to the Supersheet as
described in Control Procedures A.1, 2.
and 3., above.
CONTROL POLICIES
CONTROL OBJECTIVES AND PROCEDURES
3. Percentage Assets by Class and
Percentage Dividend Assets by Class are
calculated for each class based upon
information from the prior day
Worksheet, the Supersheet and the
telefax from the transfer agent.
4. Allocate investment income
among classes based on the appropriate
asset allocation percentage for each
class.
5. Agree composite income
accounts, management fees, other
expenses, realized gains and losses, and
unrealized appreciation/depreciation to
the primary accounting system of the
Fund.
6. Allocate expenses among
classes as follows:
a. Expenses directly
attributable
to each class (12b-1
distribution
expenses) are
calculated and
recorded to that
class.
b. Expenses attributable to
both classes
are allocated in
accordance with the
appropriate asset
allocation
percentage for each
class.
7. Allocate realized and
unrealized gains and losses
among the classes in accordance with the
appropriate asset allocation percentage
of each class.
8. Record dividends/distributions to
shareholders of each class in the
primary accounting system.
9. Aggregate the net assets for each
class and agree to the total net assets
per the primary accounting system.
10. For each class, reconcile the
current day's NAV and, if applicable,
the dividend/distribution to the
previous day's NAV and
dividend/distribution for each class.
CONTROL POLICIES
CONTROL OBJECTIVES AND PROCEDURES
11. The above procedures are reviewed
by the Fund supervisor or manager.
SECTION II
Tests of Operating Effectiveness
Prudential Multiple Class Pricing Worksheet
July 1, 1994 to June 30, 1995
We reviewed the methodology and procedures for calculating the daily net asset
value and, if applicable, the dividends/distributions of the classes of shares
and the allocation of income and expenses among the classes of shares.
The following are the detailed procedures which we performed with respect to the
Worksheet. These procedures were performed for selected days encompassing all
Funds subject to multiple class pricing during the year ended June 30, 1995,
which we believe is a representative sample, to test compliance with the control
policies and procedures as described in Section I.
Prudential Mutual Fund Management, Inc. is the manager of the Funds and has
represented to us that adequate facilities are in place to ensure implementation
of the methodology and procedures for calculating the net asset value and
dividends/distributions of the classes of shares and the allocation of income
and expenses among the classes of shares. Based on our review of the
description of the policies and procedures of the Worksheet, as described in
Section I, and performance of tests of operating effectiveness as described in
Section II, we concur with such representation.
Agreed "Prior Day NAV Per Share" to the previous day's Worksheet.
Agreed "Shares Outstanding Beginning of the Day" to the previous day's
Worksheet and to the transfer agency records for each class.
Recalculated "Activity/Estimate" by adding the estimated interim share
activity reported via fax from the transfer agent and the current day's
"Capital Stock Activity" reported on the Supersheet for each class.
Recalculated "Current Shares Outstanding" by adding "Shares
Outstanding Beginning of the Day" and "Activity/Estimate" for each class.
Recalculated for each class "Adjusted Total Assets" by multiplying
"Prior Day NAV Per Share" by "Current Shares Outstanding".
Recalculated "Percentage Assets-Class A/Front End" by dividing
"Adjusted Total Assets-Class A/Front End" by "Adjusted Total Assets
Composite".
Recalculated "Percentage Assets-Class B(D)/Back End" by dividing
"Adjusted Total Assets-Class B(D)/Back End" by "Adjusted Total Assets
Composite".
Agreed "Dividend Shares" to the transfer agency records for each
class.
Recalculated "Current Dividend Shares" by adding "Dividend Shares
Beginning of Day" and "Activity/Estimate" for each class.
Recalculated for each class "Adjusted Dividend Assets" by multiplying
"Prior Day NAV Per Share" by "Current Dividend Shares".
Recalculated "Percentage Dividend Assets-Class A/Front End" by
dividing "Adjusted Dividend Assets-Class A/Front End" by "Adjusted Dividend
Assets Composite".
Recalculated "Percentage Dividend Assets-Class B(D)/Back End" by
dividing "Adjusted Dividend Assets-Class B(D)/Back End" by "Adjusted
Dividend Assets Composite".
Agreed composite total of each component of income to the primary
accounting system.
Recalculated the allocation for each class of each component of income
for daily dividend funds by multiplying the composite total by "Percentage
Dividend Assets-Class A/Front End" and "Percentage Dividend Assets-Class
B(D)/Back End," and for non-daily dividend funds by multiplying the
composite total by "Percentage Assets-Class A/Front End" and "Percentage
Assets-Class B(D)/Back End".
Recalculated "Daily Income," composite and for each class, by totaling
each component of income.
Agreed composite total "Management Fee" and "Other Fixed Expenses" to
the primary accounting system.
Recalculated the allocation for each class of "Management Fee" and
"Other Fixed Expenses" for daily dividend funds by multiplying the
composite total by "Percentage Dividend Assets-Class A/Front End" and
"Percentage Dividend Assets-Class B(D)/Back End," and non-daily dividend
funds by multiplying the composite total by "Percentage Assets-Class
A/Front End" and "Percentage Assets-Class B(D)/Back End".
Agreed the "12b-1 Fee-Class A/Front End" and "12b-1 Fee-Class
B(D)/Back End" to the respective "PC Expense Worksheet".
Recalculated "Daily Expense," composite and for each class, by
totaling "Management Fee," "12b-1 Fee" and "Other Fixed Expenses".
Recalculated "Daily Net Income" for each class by subtracting "Daily
Expense" from "Daily Income".
Recalculated "Dividend Rate" for each class for daily dividend funds
by dividing "Daily Net Income" by "Dividend Shares Beginning of Day-Class
A/Front End" and "Dividend Shares Beginning of Day-Class B(D)/Back End".
Agreed "Daily Income" and "Income Distribution" for each class to the
primary accounting system.
Agreed the "Capital Gain Distribution" to the amount recorded in the
primary accounting system.
Agreed composite total "Realized Gain/Loss" and "Unrealized
Appreciation/Depreciation" to the primary accounting system.
Recalculated the allocation for each class of "Realized Gain/Loss" and
"Unrealized Appreciation/Depreciation" by multiplying the composite amount
by the "Percentage Assets-Class A/Front End" and "Percentage Assets-Class
B(D)/Back End".
Agreed "Prior Days Net Assets" to the previous day's Worksheet.
Recalculated "Net Assets", composite and for each class, by totaling
"Daily Net Income", "Income Distributed", "Capital Stock Activity",
"Capital Gain Distribution", "Realized Gain/Loss", "Unrealized
Appreciation/Depreciation", and "Prior Days Net Assets".
Recalculated "NAV Per Share" dividing the "Net Assets-Class A/Front
End" and "Net Assets - Class B(D)/Back End" by "Current Shares Outstanding
- Class A/Front End" and "Current Shares Outstanding - Class B(D)/Back
End", respectively.
Recalculated "Offering Price" for Class A shares by applying the
"Load" percentage as stated in the fund's prospectus.
