Securities Purchased Pursuant to Rule 10F3
High Yield Bond Fund January to March 2000
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Security Purchased Comparison Security Comparison Security
Issuer Cablevision, SA United Pan-Europe NTL Communications Corp
Communications
Underwriters Morgan Stanley, DLJ, ABN Amro, Bank of n/a -- bonds issued in
DB Securities America, CS First Boston, exchange for 144A
Goldman, ING Barings, securities
Merrill Lynch, MSDW,
Paribas, Toronto Dominion
Years of continuous
operation, including
predecessors > 3 years > 3 years > 3 years
Security CBVS 13.75%, 4/30/07 UPCNA 11.25%, 2/1/10 NTLI 9.875%, 11/15/09
Is the affiliate a
manager or co-manager
of offering? co-manager no n/a
Name of underwriter or
dealer from which
purchased Morgan Stanley n/a n/a
Firm commitment
underwriting? yes yes yes
Trade date/Date of
Offering 3/31/2000 n/a n/a
Total dollar amount
of offering sold
to QIBs $250,000,000 $600,000,000 EUR 350,000,000
Total dollar amount
of any concurrent
public offering - - -
Total $250,000,000 $600,000,000 EUR 350,000,000
Public offering price 98.869 99.25 n/a -- bonds issued in
exchange for 144A
securities
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission not available -- offering n/a -- private placement n/a -- bonds issued in
was a private placement exchange for 144A
securities
Rating B1/BB B2/B B3/B
Current yield 13.91% 11.34% n/a
Total par value
purchased $8,000,000 n/a n/a
$ amount of purchase $7,909,520 n/a n/a
% of offering purchased
by fund 3.200% n/a n/a
% of offering purchased
by associated funds 0.000% n/a n/a
Total 3.200% n/a n/a
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