Form NSAR-B ABERDEEN GLOBAL INCOME For: Oct 31
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E-mailPAGE 1 000 B000000 10/31/2017 000 C000000 0000876717 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 ABERDEEN GLOBAL INCOME FUND, INC. 001 B000000 811-06342 001 C000000 2154055700 002 A000000 1735 Market Street - 32nd Floor 002 B000000 Philadelphia 002 C000000 PA 002 D010000 19103 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 ABERDEEN ASSET MANAGEMENT ASIA LIMITED 008 B000001 A 008 C000001 801-62020 008 D010001 SINGAPORE 008 D050001 SINGAPORE 008 D060001 049480 008 A000002 ABERDEEN ASSET MANAGEMENT LIMITED 008 B000002 A 008 C000002 801-25821 008 D010002 SYDNEY 008 D050002 AUSTRALIA 008 D060002 NSW 2000 008 A000003 ABERDEEN ASSET MANAGERS LIMITED 008 B000003 S 008 C000003 801-75074 008 D010003 ABERDEEN 008 D050003 UNITED KINGDOM 008 D060003 AB101YG 010 A000001 ABERDEEN ASSET MANAGEMENT INC. 010 B000001 028-11020 010 C010001 PHILADELPHIA 010 C020001 PA 010 C030001 19103 012 A000001 COMPUTERSHARE TRUST CO., N.A. 012 B000001 85-11340 012 C010001 College Station 012 C020001 TX 012 C030001 77842 PAGE 2 012 C040001 3170 013 A000001 KPMG LLP 013 B010001 PHILADELPHIA 013 B020001 PA 013 B030001 19103 014 A000001 ABERDEEN FUND DISTRIBUTORS LLC 014 B000001 8-67799 015 A000001 STATE STREET BANK AND TRUST COMPANY 015 B000001 C 015 C010001 NORTH QUINCY 015 C020001 MA 015 C030001 02171 015 A000002 CITIBANK N.A. 015 B000002 S 015 C010002 BUENOS AIRES 015 D010002 ARGENTINA 015 D020002 1036 015 E040002 X 015 A000003 HSBC 015 B000003 S 015 C010003 SYDNEY 015 D010003 AUSTRALIA 015 D020003 NSW 2000 015 E040003 X 015 A000004 CITIBANK N.A. 015 B000004 S 015 C010004 SAO PAULO 015 D010004 BRAZIL 015 D020004 01311-20 015 E040004 X 015 A000005 STATE STREET TRUST COMPANY CANADA 015 B000005 S 015 C010005 TORONTO 015 D010005 CANADA 015 D020005 M5C 3G6 015 E040005 X 015 A000006 RBC DEXIA INVESTOR SERVICES SECURITIES CAGE 015 B000006 S 015 C010006 TORONTO 015 D010006 CANADA 015 E040006 X 015 A000007 CREDIT SUISSE AG 015 B000007 S 015 C010007 ZURICH 015 D010007 SWITZERLAND 015 D020007 8070 015 E040007 X 015 A000008 DEUTSCHE BANK AG 015 B000008 S 015 C010008 ESCHBORN 015 D010008 GERMANY PAGE 3 015 D020008 D-65760 015 E040008 X 015 A000009 HSBC BANK EGYPT S.A.E. 015 B000009 S 015 C010009 CAIRO 015 D010009 EGYPT 015 D020009 306 015 E040009 X 015 A000010 DEUTSCHE BANK SAE 015 B000010 S 015 C010010 MADRID 015 D010010 SPAIN 015 D020010 28020 015 E040010 X 015 A000011 SEB MERCHANT BANKING SECURITIES SERVICES 015 B000011 S 015 C010011 HELSINKI 015 D010011 FINLAND 015 E040011 X 015 A000012 STATE STREET BANK AND TRUST CO. 015 B000012 S 015 C010012 EDINBURGH 015 D010012 SCOTLAND 015 D020012 EH52AW 015 E040012 X 015 A000013 BNP PARIBAS SECURITIES SERVICES, S.C.A. 015 B000013 S 015 C010013 ATHENS 015 D010013 GREECE 015 D020013 115 28 015 E040013 X 015 A000014 STANDARD CHARTED BANK (HONG KONG) LTD. 015 B000014 S 015 C010014 KWUN TONG 015 D010014 HONG KONG 015 E040014 X 015 A000015 UNICREDIT BANK HUNGARY ZRT. 015 B000015 S 015 C010015 BUDAPEST 015 D010015 HUNGARY 015 D020015 H-1054 015 E040015 X 015 A000016 DEUTSCHE BANK AG 015 B000016 S 015 C010016 JAKARTA 015 D010016 INDONESIA 015 D020016 10310 015 E040016 X 015 A000017 BANK HAPOALIM B.M. 015 B000017 S 015 C010017 TEL AVIV PAGE 4 015 D010017 ISRAEL 015 D020017 61000 015 E040017 X 015 A000018 DEUTSCHE BANK AG 015 B000018 S 015 C010018 MUMBAI 015 D010018 INDIA 015 D020018 400 063 015 E040018 X 015 A000019 HSBC 015 B000019 S 015 C010019 TOKYO 015 D010019 JAPAN 015 E040019 X 015 A000020 DEUTSCHE BANK AG 015 B000020 S 015 C010020 SEOUL 015 D010020 KOREA 015 D020020 110-752 015 E040020 X 015 A000021 BANCO NACIONAL DE MEXICO S.A. 015 B000021 S 015 C010021 COL. SANTA FE 015 D010021 MEXICO 015 D020021 01210 015 E040021 X 015 A000022 STANDARD CHARTERED BANK MALAYSIA BERHAD 015 B000022 S 015 C010022 KUALA LUMPUR 015 D010022 MALAYSIA 015 D020022 50250 015 E040022 X 015 A000023 STANBIC IBTC BANK PLC 015 B000023 S 015 C010023 LAGOS 015 D010023 NIGERIA 015 D020023 71707 015 E040023 X 015 A000024 DEUTSCHE BANK AG 015 B000024 S 015 C010024 AMSTERDAM 015 D010024 NETHERLANDS 015 D020024 1101 HE 015 E040024 X 015 A000025 SKANDINAVISKA ENSKILDA BANKEN AB 015 B000025 S 015 C010025 OSLO 015 D010025 NORWAY 015 D020025 NO-0123 015 E040025 X 015 A000026 HSBC LTD. PAGE 5 015 B000026 S 015 C010026 AUCKLAND 015 D010026 NEW ZEALAND 015 D020026 1010 015 E040026 X 015 A000027 CITIBANK S.A. 015 B000027 S 015 C010027 LIMA 015 D010027 PERU 015 D020027 27 015 E040027 X 015 A000028 BANK HANDLOWY W WARSZAWIE S.A. 015 B000028 S 015 C010028 WARSAW 015 D010028 POLAND 015 D020028 00-249 015 E040028 X 015 A000029 ING BANK (EURASIA) ZAO 015 B000029 S 015 C010029 MOSCOW 015 D010029 RUSSIA 015 D020029 127473 015 E040029 X 015 A000030 SKANDINAVISKA ENSKILDA BANKEN AB 015 B000030 S 015 C010030 STOCKHOLM 015 D010030 SWEDEN 015 D020030 SE-106 40 015 E040030 X 015 A000031 CITIBANK N.A. 015 B000031 S 015 C010031 SINGAPORE 015 D010031 SINGAPORE 015 D020031 486026 015 E040031 X 015 A000032 STANDARD CHARTERED BANK (THAI) PUBLIC CO LTD 015 B000032 S 015 C010032 BANGKOK 015 D010032 THAILAND 015 D020032 10500 015 E040032 X 015 A000033 CITIBANK A.S. 015 B000033 S 015 C010033 ISTANBUL 015 D010033 TURKEY 015 D020033 34394 015 E040033 X 015 A000034 DEUTSCHE BANK AG 015 B000034 S 015 C010034 TAIPEI 015 D010034 TAIWAN R.O.C. PAGE 6 015 D020034 106 015 E040034 X 015 A000035 FIRSTRAND BANK LIMITED 015 B000035 S 015 C010035 JOHANNESBURG 015 D010035 SOUTH AFRICA 015 D020035 2001 015 E040035 X 018 000000 Y 019 A000000 Y 019 B000000 13 019 C000000 ABERDEENCF 021 000000 0 022 A000001 STATE STREET BANK & TRUST COMPANY 022 B000001 04-1867445 022 C000001 30725 022 D000001 36076 022 A000002 BARCLAYS 022 B000002 06-1031656 022 C000002 2547 022 D000002 1646 022 A000003 GOLDMAN SACHS & CO. 022 B000003 13-5108880 022 C000003 2705 022 D000003 1413 022 A000004 PERSHING LLC 022 C000004 3945 022 D000004 138 022 A000005 BANK OF AMERICA 022 B000005 56-0906609 022 C000005 1837 022 D000005 845 022 A000006 MORGAN STANLEY 022 B000006 36-3145972 022 C000006 1279 022 D000006 1027 022 A000007 CREDIT SUISSE 022 B000007 02-0451017 022 C000007 1264 022 D000007 576 022 A000008 HSBC SECURITIES (USA), INC. 022 B000008 13-2650272 022 C000008 1107 022 D000008 686 022 A000009 JEFFERIES & CO. INC. 022 B000009 95-2622900 022 C000009 1000 022 D000009 792 022 A000010 CITIC GROUP 022 B000010 66-0598708 022 C000010 881 PAGE 7 022 D000010 880 023 C000000 54337 023 D000000 47119 024 000000 Y 025 A000001 STATE STREET BANK & TRUST 025 B000001 14-1867445 025 C000001 D 025 D000001 110 025 A000002 GOLDMAN SACHS & CO. 025 B000002 13-5108880 025 C000002 D 025 D000002 334 025 A000003 HSBC SECURITIES (USA), INC. 025 B000003 13-2650272 025 C000003 D 025 D000003 217 025 A000004 BANK OF AMERICA CORP. 025 B000004 56-0906609 025 C000004 D 025 D000004 332 025 A000005 BARCLAYS 025 B000005 06-1031656 025 C000005 D 025 D000005 250 025 A000006 MORGAN STANLEY 025 B000006 36-3145972 025 C000006 D 025 D000006 200 026 A000000 N 026 B000000 N 026 C000000 N 026 D000000 N 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 N 028 A010000 0 028 A020000 0 028 A030000 0 028 A040000 0 028 B010000 0 028 B020000 0 028 B030000 0 028 B040000 0 028 C010000 0 028 C020000 0 028 C030000 0 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4859 074 B000000 0 074 C000000 0 074 D000000 106348 074 E000000 0 074 F000000 0 PAGE 12 074 G000000 0 074 H000000 0 074 I000000 2151 074 J000000 0 074 K000000 0 074 L000000 2192 074 M000000 499 074 N000000 116049 074 O000000 1657 074 P000000 77 074 Q000000 31558 074 R010000 0 074 R020000 0 074 R030000 0 074 R040000 2762 074 S000000 0 074 T000000 79995 074 U010000 8725 074 U020000 0 074 V010000 9.17 074 V020000 0.00 074 W000000 0.0000 074 X000000 5410 074 Y000000 0 075 A000000 0 075 B000000 79696 076 000000 8.96 077 A000000 Y 077 B000000 Y 077 C000000 N 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 N 077 P000000 N 077 Q010000 Y 077 Q020000 Y 077 Q030000 N 078 000000 N 080 A000000 Axis Specialty Europe SE 080 C000000 1250 081 A000000 N 081 B000000 0 PAGE 13 082 A000000 N 082 B000000 0 083 A000000 N 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 0 086 A020000 0 086 B010000 20 086 B020000 158 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 087 A010000 COMMON STOCK 087 A020000 003013109 087 A030000 FCO 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 N SIGNATURE ANDREA MELIA TITLE TREASURER
Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholders of Aberdeen Global Income Fund, Inc.: In planning and performing our audit of the financial statements of Aberdeen Global Income Fund, Inc. (the "Fund") as of and for the year ended October 31, 2017, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. Management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the Fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with policies or procedures may deteriorate. A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund's annual or interim financial statements will not be prevented or detected on a timely basis. Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund's internal control over financial reporting and its operations, including controls over safeguarding securities that we consider to be a material weakness as defined above as of October 31, 2017. This report is intended solely for the information and use of management and the Board of Directors of Aberdeen Global Income Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/ KPMG LLP Philadelphia, Pennsylvania December 28, 2017
EX-99.77Q1
Sub-item 77Q1(e): Agreements on Implementing the
Guidelines on Outsourcing issued by the Monetary
Authority of Singapore 27 July 2016 with each of
Aberdeen Asset Management Limited & Aberdeen Asset
Managers Limited
15 September 2017
Aberdeen Asset Management Limited
Level 10
255 George Street
Sydney
NSW 2000
Dear Sirs
Agreement on Implementing the Guidelines on
Outsourcing issued by the Monetary Authority of
Singapore on 27 July 2016
1. Aberdeen Asset Management Asia Limited
("AAMAL") and Aberdeen Asset Management
Limited ("AAML") have entered into
investment advisory agreements (the
"Agreements") in respect of Aberdeen Asia-
Pacific Income Fund, Inc., Aberdeen Australia
Equity Fund, Inc., and Aberdeen Global
Income Fund, Inc. (collectively, the "Funds")
whereby AAMAL, as investment manager of
the Funds, appointed AAML as investment
advisor to the Funds and to make
recommendations to AAMAL as to specific
portfolio securities of the Funds, including
asset allocation and general advice on
investment strategy relating to the Funds'
overall investment objectives.
2. AAMAL is regulated by Monetary Authority of
Singapore ("MAS") and has to implement the
Guidelines on Outsourcing ("MAS Outsourcing
Guidelines") issued by MAS.
3. This letter, in particular Appendix A, sets forth
the additional terms and conditions under
which AAML will provide the services under
the Agreements, in order for AAMAL to
implement the MAS Outsourcing Guidelines.
4. Please indicate your agreement to the terms
set out in this letter by signing below and
returning one copy of this letter to us.
Thank you.
Yours faithfully
for and on behalf of
Aberdeen Asset Management Asia Limited
/s/ Hugh Young /s/ Kang Puay Ju
Hugh Young Kang Puay Ju
Director Director
We, Aberdeen Asset Management Limited, hereby
accept the terms of this letter.
/s/ Shauna O'Sullivan /s/ Gil Orski
Name: Shauna O'Sullivan Gil Orski
Title: Company Secretary Director
APPENDIX A
ADDITIONAL TERMS AND CONDITIONS
Without prejudice to the terms of the Agreements
between AAMAL and AAML in respect of the Funds:
1. Confidentiality and Security
(A) AAML and AAMAL agree that in the course of
their dealing in accordance with the terms of
the Agreements, they may give each other
access to confidential or proprietary
information (collectively, "Confidential
Information"). Confidential Information may
include but is not limited to (i) proprietary and
confidential matters concerning security
arrangements, financial information, technical
data and any information relating to the pricing,
methods, processes, lists, research
development or related information to which a
party may gain access to in connection with the
Agreements; (ii) information belonging to the
customers of AAMAL, including without
limitation the names of customers and the
nature of their accounts; and (iii) information
belonging to a party's vendors or other
suppliers of services. Each party agrees that it
will not disclose, duplicate, copy or use any
Confidential Information which has or will come
into its possession in connection with the
Agreements for any purpose other than for the
performance of its obligations under the
Agreements.
(B) The parties may disclose the terms of the
Agreements to its related companies and
professional advisers. The party receiving
Confidential Information ("Receiving Party")
shall limit disclosure of Confidential Information
of the party disclosing Confidential Information
("Disclosing Party") only to its employees,
agents and/or subcontractors, or to any market
counterparty or any broker (in accordance with
market practice) in relation to transactions
undertaken for the Funds, or to the custodian
who (a) need to know such Confidential
Information for the purpose of the activities
contemplated by the Agreements and (b) are
under non-disclosure obligations at least as
protective of the Confidential Information as
those set out herein. The Receiving Party shall
be responsible for any breach of the
Agreements by the foregoing persons to whom
Confidential Information is disclosed as if such
breach were committed by the Receiving Party.
Subject to the foregoing, each party agrees that
it will not, without the prior written consent of
the other party, disclose any Confidential
Information to any third party orally or in
writing.
(C) The non-disclosure obligations set out herein
shall not apply to information which (a) is or
becomes publicly available through no fault of
the Receiving Party; (b) is or becomes in the
Receiving Party's possession prior to disclosure
by the Disclosing Party provided it is obtained
by the Receiving Party from a third party not
known to the Receiving Party to be under duties
of confidentiality in respect of such information;
(c) is independently developed by the Receiving
Party without reference or reliance on
Confidential Information; or (d) is required by
law, regulation, or by order or request of
regulatory, judicial or governmental authority,
provided that the Receiving Party shall, to the
extent legally permitted, provide prompt notice
to the Disclosing Party and shall disclose only
that portion of Confidential Information which
is legally required to be disclosed and take all
reasonable steps to preserve the confidentiality
of the Confidential Information.
(D) Each party agrees to use the same standard of
care it uses to protect its own Confidential
Information, but in any event not less than
reasonable standards, to prevent the disclosure
of such Confidential Information to third parties.
AAML acknowledges that under the MAS
Guidelines on Outsourcing, AAMAL is required
to review and monitor AAML's security
practices and control processes on a regular
basis, including commissioning audits or
obtaining expert reports on security adequacy
and compliance in respect of its operations.
AAMAL may change its confidentiality and
security requirements from time to time to
enhance protection of its Confidential
Information or as required by its regulator and
in such event, the parties shall discuss in good
faith to agree on any additional measures which
AAML may have to take in order to satisfy
AAMAL's new confidentiality and security
requirements.
(E) The Receiving Party shall notify the Disclosing
Party promptly of any actual or suspected
breaches of security or confidentiality
obligations that it is or becomes aware of. Each
party agrees and acknowledges that any breach
or threatened breach by the Receiving Party of
its covenants and agreements set out herein
may cause irreparable injury to the Disclosing
Party for which monetary damages may not
constitute an adequate remedy. In such event,
the parties agree that the Disclosing Party shall
be entitled to seek injunctive relief in addition
to any other remedies that may be available.
(F) Upon the termination or expiration of the
Agreements or upon request from the
Disclosing Party, the Receiving Party shall and
shall procure that its employees, agents
and/subcontractors, as soon as reasonably
practicable:
(a) return or destroy all copies of
Confidential Information held by it or
which is under its control; and
(b) destroy all notes, calculations or
summaries or other material which
contains or is derived from any
Confidential Information and any
electronically held records derived from
any Confidential Information,
save that the Receiving Party may retain such
copies as may be required under applicable
laws and regulations or its internal document
retention policies.
(G) The provisions of this Paragraph 1 will survive
termination of the Agreements.
(H) A breach of this Paragraph 1 will be regarded as
a material breach, pursuant to which the non-
defaulting party shall be entitled to terminate
the Agreements either (i) with prior approval by
the Board of the applicable Fund, immediately
or (ii) by notice in writing to the defaulting party
in accordance with the termination provisions
in the Agreements and this letter, whichever is
earlier.
2. Business Continuity Management
(A) AAML represents and warrants that it has back-
up facilities in place to retrieve all data
processed by AAML's computer systems for
AAMAL, and will be able to, in the event that
any such data is rendered inaccessible or is
deleted for any reason, retrieve such deleted or
inaccessible data from its back-up facilities
promptly. In the event that AAML cannot
retrieve such deleted or inaccessible data from
its back-up facilities promptly, AAMAL may,
terminate the Agreements either (i) with prior
approval by the Board of the applicable Fund,
immediately or (ii) by way of notice in writing to
AAML in accordance with the termination
provisions in the Agreements and this letter,
whichever is earlier.
(B) AAML represents and warrants all documents
and records of transactions, information and
data processed by or stored with AAML
pursuant to the performance of its duties under
the Agreements will be isolated and clearly
identified such that the same, in adverse
conditions, can be either removed from the
possession of AAML in order to continue its
business operations, or deleted, destroyed or
rendered unusable.
(C) AAML will have in place business continuity
procedures, processes and systems (the "BCP")
for the orderly and expeditious performance of
its duties under the Agreements relating to:-
(a) contingency planning;
(b) disaster recovery;
(c) back-up processing;
(d) recovery time objectives ("RTO");
(e) recovery point objectives ("RPO");
(f) resumption operating capacities;
(g) escalation;
(h) activation; and
(i) crisis management procedures.
AAML represents and warrants that the BCP will
be in place for the entire term of the
Agreements from the date of this letter. If
AAML makes any significant change(s) to the
BCP, it will notify AAMAL in writing and provide
a full description of such change(s) immediately.
Any breach of the foregoing is deemed to be a
failure to perform or observe a material
obligation by AAML under the Agreements
pursuant to which AAMAL shall be entitled to
terminate the Agreements either (i) with prior
approval by the Board of the applicable Fund,
immediately or (ii) by way of notice in writing to
AAML in accordance with the termination
provisions in the Agreements and this letter,
whichever is earlier.
(D) AAML will test the BCP and all facilities used by it
in connection with the BCP on at least an annual
basis and ensure such tests validates the
soundness and adequacy of the BCP, the
feasibility of the RTO, RPO and resumption
operating capacities and/or such facilities.
AAML will promptly notify AAMAL if any test
finding reveals a significant impairment of
AAML's ability to perform its duties under the
Agreements. In the event that AAMAL requires
AAML to be involved in connection with the
testing of its own business continuity plan,
AAML will co-operate reasonably with AAMAL
to ensure that such test(s) are carried out
promptly and accurately in accordance with
AAMAL's requirements.
(F) If any test results and/or certification leads
AAMAL to reasonably conclude that the BCP
and/or any of the facilities used by AAML in
connection with the BCP is unsound, inadequate
or deficient in any way, AAML will take
reasonable measures to correct any procedures
or practices set out in the BCP that are found by
AAMAL to be deficient within 60 days of receipt
of AAMAL's notification of such deficiency (or
such other period of time agreed with AAMAL).
3. Inspection and Audit
(A) AAML will keep complete and accurate records
of all of its work and expenses in providing the
services under the Agreements to AAMAL
during the term of the Agreements and
thereafter in accordance with AAML's
document retention policy. AAML will, upon
reasonable notice, allow AAMAL, its internal
and external auditors or its agents and the MAS
and its agents, the opportunity of inspecting,
examining and auditing AAML's operations and
the business records and to obtain records and
documents, of transactions, and information of
AAMAL given to, stored at, or processed by
AAML which are relevant to the services
provided hereunder by AAML. AAML will co-
operate fully with AAMAL, its management, its
internal and external auditors and/or the MAS
and its agents to ensure a prompt and accurate
audit. AAMAL, its internal and external auditors
and its agents and the MAS and its agents will
be permitted access to and to obtain copies of
any audit or reports and findings made on
AAML in relation to the services provided under
the Agreements.
(B) If an audit leads AAMAL to conclude that AAML
has breached the provisions of the Agreements
or that any of AAML's business or professional
practices related to the performance of its
duties under the Agreements presents a risk of
unauthorised disclosure of Confidential
Information or a risk of a breach of the
provisions of the Agreements, AAML and
AAMAL will use their best efforts to reach a
mutually satisfactory resolution. AAML will also
use its best efforts to correct any practices that
are found to be deficient as a result of any such
audit within a reasonable time after receipt of
AAMAL's audit report under this Paragraph 3.
(C) AAML shall comply, as soon as reasonably
practicable, with any request from MAS or
AAMAL to AAML and its subcontractors to
submit any report on the security and control
environment of AAML and its subcontractors
and to provide any other information on AAML
in relation to the Agreements and the
outsourcing arrangement.
(D) This Paragraph 3 will survive the termination of
the Agreements.
4. Sub-Contracting
(A) AAML may not subcontract the performance of
any of its obligations under the Agreements;
however, AAML may at its own expense engage
State Street Australia Limited or (with prior
written consent of AAMAL) another third party
(State Street Australia Limited or such third
party shall be referred to as the "Servicer"
herein) to perform certain back office functions
to enable AAML to perform its services under
the Agreements and in such event, AAML will
ensure that Servicer complies with the
provisions of the Agreements (including but not
limited to the prudent practices set out in the
MAS Guidelines for Outsourcing) as if
references to AAML in the Agreements were
references to Servicer.
(B) AAML has and will continue to exercise due
diligence and care in the selection and
appointment of Servicer and remains fully
responsible for such obligations and for all acts
or omissions of Servicer. Nothing in the
Agreements will be construed to create any
contractual relationship between AAMAL and
Servicer, nor any obligation on the part of a
Fund or AAMAL to pay or see to the payment of
any money due to Servicer.
(C) AAML will be liable for the capability of Servicer
and for compliance with the provisions under
the Agreements, particularly the obligations in
relation to security and confidentiality, audit
and inspection.
(D) AAML shall inform AAMAL of any legal or
administrative restriction(s) to the performance
of the Agreements that it is aware of before
and/or after its appointment pursuant to the
Agreements. Furthermore, AAMAL reserves the
right to revoke the appointment of AAML,
either (i) with prior approval of the Board of the
applicable Fund, immediately or (ii) by way of
notice in writing to AAML in accordance with
the termination provisions in the Agreements
and this letter, whichever is earlier, if there is
any change in the economic, social, political or
regulatory conditions or any event or
development in the country in which AAML
operates which, in the opinion of AAMAL,
affects or may affect AAML's ability to perform
or to comply with the provisions of the
Agreements. In the event that AAML has access
to AAMAL's Confidential Information and a
regulator (other than MAS) seeks access to such
information, AAML shall give prior notice to
AAMAL and cooperate with AAMAL in its efforts
to prevent or limit such access. In the event
such efforts fail, AAML shall only provide such
access or such disclosure as legally required and
shall take all reasonable steps to preserve the
confidentiality of AAMAL's Confidential
Information.
(E) Each of AAML and Servicer shall inform AAMAL
of any legal or administrative restriction(s) to
the inspection and audit obligations as set out
in Paragraph 3 above that it is aware of before
and/or after AAML appoints Servicer.
Furthermore, AAMAL reserves the right to
revoke with immediate effect the approval
granted in respect of the appointment of
Servicer if there is any change in the economic,
social, political or regulatory conditions or any
event or development in the country in which
Servicer operates which, in the opinion of
AAMAL, affects or may affect Servicer's ability
to provide the services or to comply with the
provisions of the Agreements. In the event that
Servicer has access to AAMAL's Confidential
Information and a regulator (other than MAS)
seeks access to such information, AAML and
Servicer shall give prior notice to AAMAL and
cooperate with AAMAL in its efforts to prevent
or limit such access. In the event such efforts
fail, Servicer shall only provide such access or
such disclosure as legally required and shall
take all reasonable steps to preserve the
confidentiality of AAMAL's Confidential
Information.
5. Adverse Developments and Events
(A) AAML shall notify AAMAL as soon as reasonably
practicable after the occurrence of any breach
or threatened breach of the Agreements, and of
adverse developments and events that may
have a significant impact on its ability to provide
the services under the Agreements, including
but not limited to developments and events
that could potentially lead to prolonged service
failure or disruption in the performance of the
Agreements by AAML or present a risk of a
breach of the Agreements. If necessary in such
circumstances, AAML and AAMAL shall
negotiate in good faith to amend the terms of
the Agreements.
6. Meetings and Reports
(A) AAML will be available for regular meetings
with AAMAL to discuss the latest investment
report and the performance of and future
investment policy for the investments of each
Fund, as well as to review any aspect of the
services provided under the Agreements. Such
meetings shall be held at least once every three
months unless AAMAL agrees otherwise. AAML
will assist in the preparation of investment
reports for each Fund.
7. Termination
(A) Without prejudice to the terms of the
Agreements, each Agreement may be
terminated:
(i) by AAMAL giving to AAML not less than
60 days' written notice of termination;
(ii) by either party immediately, if the other
party goes into liquidation (except
voluntary liquidation for the purposes
of reconstruction or amalgamation) or is
unable to pay its debts or commits any
act of bankruptcy or if a receiver,
judicial manager or administrator is
appointed over any of its assets;
(iii) by either party immediately if the other
party fails to maintain its licence or
authorised status with the Financial
Conduct Authority or MAS, as relevant,
or its status as a U.S. registered
investment adviser with the U.S.
Securities and Exchange Commission;
(iv) by AAMAL immediately by written
notice if the MAS requires AAMAL to
terminate the Agreements or make
alternative outsourcing arrangements
provided that AAMAL shall have
provided to AAML documentary
evidence of such requirement; and
(v) in accordance with the provisions of this
Appendix A.
Termination shall not affect any action by AAML
permitted under the Agreements prior to the
date of termination or any warranty or
indemnity, given by AAML or AAMAL under the
Agreements or implied by law and shall be
without prejudice to any other rights,
obligations or remedies of either party in
respect of any matters arising under the
Agreements prior to such termination.
On termination AAMAL shall settle any
expenses due to AAML in terms hereof. Fees
due hereunder shall be apportioned to the date
of termination.
Upon notice of termination of any Agreement,
AAML shall, if required by AAMAL, provide
reasonable assistance to effect an orderly
transition of AAML's duties and responsibilities
hereunder to a new manager approved by the
relevant Fund's Board of Directors and
stockholders in accordance with applicable laws
and regulations as soon as reasonably
practicable.
8. Jurisdiction
(A) The parties agree to submit to the jurisdiction of
the courts of New York. Without prejudice to
any rights and remedies available to either
party hereto, the parties agree that they will, on
a best endeavours basis, continue to observe
and carry out their respective obligations
hereunder to the maximum extent possible
pending resolution of the dispute.
15 September 2017
Aberdeen Asset Managers Limited
10 Queen's Terrace,
Aberdeen, AB10 1YG
Scotland
Dear Sirs
Agreement on Implementing the Guidelines on
Outsourcing issued by the Monetary Authority of
Singapore on 27 July 2016
5. Aberdeen Asset Management Asia Limited
("AAMAL") and Aberdeen Asset Managers
Limited ("AAML") have entered into the
Investment Advisory Agreements (the
"Agreements" and each an "Agreement") in
respect of Aberdeen Asia-Pacific Income Fund,
Inc., and Aberdeen Global Income Fund, Inc.
(collectively, the "Funds") whereby AAMAL, as
investment manager of the Funds, appointed
AAML as sub-adviser to the Funds to manage
certain assets of the Funds where AAMAL may
from time to time upon reasonable prior
notice allocate to AAML.
6. AAMAL is regulated by Monetary Authority of
Singapore ("MAS") and has to implement the
Guidelines on Outsourcing ("MAS Outsourcing
Guidelines") issued by MAS.
7. This letter, in particular Appendix A, sets forth
the additional terms and conditions under
which AAML will provide the services under
the Agreements, in order for AAMAL to
implement the MAS Outsourcing Guidelines.
8. Please indicate your agreement to the terms
set out in this letter by signing below and
returning one copy of this letter to us.
Thank you.
Yours faithfully
for and on behalf of
Aberdeen Asset Management Asia Limited
/s/ Hugh Young /s/ Kang Puay Ju
Hugh Young Kang Puay Ju
Director Director
We, Aberdeen Asset Managers Limited, hereby accept
the terms of this letter.
/s/ Gordon Brough
Name: Gordon Brough
Title: Authorised Signatory
APPENDIX A
ADDITIONAL TERMS AND CONDITIONS
Without prejudice to the terms of the Agreements
between AAMAL and AAML in respect of the Funds:
1. Confidentiality and Security
(G) AAML and AAMAL agree that in the course of
their dealing in accordance with the terms of
the Agreements, they may give each other
access to confidential or proprietary
information (collectively, "Confidential
Information"). Confidential Information may
include but is not limited to (i) proprietary and
confidential matters concerning security
arrangements, financial information, technical
data and any information relating to the pricing,
methods, processes, lists, research
development or related information to which a
party may gain access to in connection with the
Agreements; (ii) information belonging to the
customers of AAMAL, including without
limitation the names of customers and the
nature of their accounts; and (iii) information
belonging to a party's vendors or other
suppliers of services. Each party agrees that it
will not disclose, duplicate, copy or use any
Confidential Information which has or will come
into its possession in connection with the
Agreements for any purpose other than for the
performance of its obligations under the
Agreements.
(H) The parties may disclose the terms of the
Agreements to its related companies and
professional advisers. The party receiving
Confidential Information ("Receiving Party")
shall limit disclosure of Confidential Information
of the party disclosing Confidential Information
("Disclosing Party") only to its employees,
agents and/or subcontractors, or to any market
counterparty or any broker (in accordance with
market practice) in relation to transactions
undertaken for the Funds, or to the custodian
who (a) need to know such Confidential
Information for the purpose of the activities
contemplated by the Agreements and (b) are
under non-disclosure obligations at least as
protective of the Confidential Information as
those set out herein. The Receiving Party shall
be responsible for any breach of the
Agreements by the foregoing persons to whom
Confidential Information is disclosed as if such
breach were committed by the Receiving Party.
Subject to the foregoing, each party agrees that
it will not, without the prior written consent of
the other party, disclose any Confidential
Information to any third party orally or in
writing.
(I) The non-disclosure obligations set out herein
shall not apply to information which (a) is or
becomes publicly available through no fault of
the Receiving Party; (b) is or becomes in the
Receiving Party's possession prior to disclosure
by the Disclosing Party provided it is obtained
by the Receiving Party from a third party not
known to the Receiving Party to be under duties
of confidentiality in respect of such information;
(c) is independently developed by the Receiving
Party without reference or reliance on
Confidential Information; or (d) is required by
law, regulation, or by order or request of
regulatory, judicial or governmental authority,
provided that the Receiving Party shall, to the
extent legally permitted, provide prompt notice
to the Disclosing Party and shall disclose only
that portion of Confidential Information which
is legally required to be disclosed and take all
reasonable steps to preserve the confidentiality
of the Confidential Information.
(J) Each party agrees to use the same standard of
care it uses to protect its own Confidential
Information, but in any event not less than
reasonable standards, to prevent the disclosure
of such Confidential Information to third parties.
AAML acknowledges that under the MAS
Guidelines on Outsourcing, AAMAL is required
to review and monitor AAML's security
practices and control processes on a regular
basis, including commissioning audits or
obtaining expert reports on security adequacy
and compliance in respect of its operations.
AAMAL may change its confidentiality and
security requirements from time to time to
enhance protection of its Confidential
Information or as required by its regulator and
in such event, the parties shall discuss in good
faith to agree on any additional measures which
AAML may have to take in order to satisfy
AAMAL's new confidentiality and security
requirements.
(K) The Receiving Party shall notify the Disclosing
Party promptly of any actual or suspected
breaches of security or confidentiality
obligations that it is or becomes aware of. Each
party agrees and acknowledges that any breach
or threatened breach by the Receiving Party of
its covenants and agreements set out herein
may cause irreparable injury to the Disclosing
Party for which monetary damages may not
constitute an adequate remedy. In such event,
the parties agree that the Disclosing Party shall
be entitled to seek injunctive relief in addition
to any other remedies that may be available.
(L) Upon the termination or expiration of the
Agreements or upon request from the
Disclosing Party, the Receiving Party shall and
shall procure that its employees, agents
and/subcontractors, as soon as reasonably
practicable:
(a) return or destroy all copies of
Confidential Information held by it or
which is under its control; and
(b) destroy all notes, calculations or
summaries or other material which
contains or is derived from any
Confidential Information and any
electronically held records derived from
any Confidential Information,
save that the Receiving Party may retain such
copies as may be required under applicable
laws and regulations or its internal document
retention policies.
(G) The provisions of this Paragraph 1 will survive
termination of the Agreements.
(H) A breach of this Paragraph 1 will be regarded as
a material breach, pursuant to which the non-
defaulting party shall be entitled to terminate
the Agreements either (i) with prior approval by
the Board of the applicable Fund, immediately
or (ii) by notice in writing to the defaulting party
in accordance with the termination provisions
in the Agreements and this letter, whichever is
earlier.
2. Business Continuity Management
(A) AAML represents and warrants that it has back-
up facilities in place to retrieve all data
processed by AAML's computer systems for
AAMAL, and will be able to, in the event that
any such data is rendered inaccessible or is
deleted for any reason, retrieve such deleted or
inaccessible data from its back-up facilities
promptly. In the event that AAML cannot
retrieve such deleted or inaccessible data from
its back-up facilities promptly, AAMAL may,
terminate the Agreements either (i) with prior
approval by the Board of the applicable Fund,
immediately or (ii) by way of notice in writing to
AAML in accordance with the termination
provisions in the Agreements and this letter,
whichever is earlier.
(B) AAML represents and warrants all documents
and records of transactions, information and
data processed by or stored with AAML
pursuant to the performance of its duties under
the Agreements will be isolated and clearly
identified such that the same, in adverse
conditions, can be either removed from the
possession of AAML in order to continue its
business operations, or deleted, destroyed or
rendered unusable.
(C) AAML will have in place business continuity
procedures, processes and systems (the "BCP")
for the orderly and expeditious performance of
its duties under the Agreements relating to:-
(a) contingency planning;
(b) disaster recovery;
(c) back-up processing;
(d) recovery time objectives ("RTO");
(e) recovery point objectives ("RPO");
(f) resumption operating capacities;
(g) escalation;
(h) activation; and
(i) crisis management procedures.
AAML represents and warrants that the BCP will
be in place for the entire term of the
Agreements from the date of this letter. If
AAML makes any significant change(s) to the
BCP, it will notify AAMAL in writing and provide
a full description of such change(s) immediately.
Any breach of the foregoing is deemed to be a
failure to perform or observe a material
obligation by AAML under the Agreements
pursuant to which AAMAL shall be entitled to
terminate the Agreements either (i) with prior
approval by the Board of the applicable Fund,
immediately or (ii) by way of notice in writing to
AAML in accordance with the termination
provisions in the Agreements and this letter,
whichever is earlier.
(D) AAML will test the BCP and all facilities used by it
in connection with the BCP on at least an annual
basis and ensure such tests validates the
soundness and adequacy of the BCP, the
feasibility of the RTO, RPO and resumption
operating capacities and/or such facilities.
AAML will promptly notify AAMAL if any test
finding reveals a significant impairment of
AAML's ability to perform its duties under the
Agreements. In the event that AAMAL requires
AAML to be involved in connection with the
testing of its own business continuity plan,
AAML will co-operate reasonably with AAMAL
to ensure that such test(s) are carried out
promptly and accurately in accordance with
AAMAL's requirements.
(F) If any test results and/or certification leads
AAMAL to reasonably conclude that the BCP
and/or any of the facilities used by AAML in
connection with the BCP is unsound, inadequate
or deficient in any way, AAML will take
reasonable measures to correct any procedures
or practices set out in the BCP that are found by
AAMAL to be deficient within 60 days of receipt
of AAMAL's notification of such deficiency (or
such other period of time agreed with AAMAL).
3. Inspection and Audit
(A) AAML will keep complete and accurate records
of all of its work and expenses in providing the
services under the Agreements to AAMAL
during the term of the Agreements and
thereafter in accordance with AAML's
document retention policy. AAML will, upon
reasonable notice, allow AAMAL, its internal
and external auditors or its agents and the MAS
and its agents, the opportunity of inspecting,
examining and auditing AAML's operations and
the business records and to obtain records and
documents, of transactions, and information of
AAMAL given to, stored at, or processed by
AAML which are relevant to the services
provided hereunder by AAML. AAML will co-
operate fully with AAMAL, its management, its
internal and external auditors and/or the MAS
and its agents to ensure a prompt and accurate
audit. AAMAL, its internal and external auditors
and its agents and the MAS and its agents will
be permitted access to and to obtain copies of
any audit or reports and findings made on
AAML in relation to the services provided under
the Agreements.
(B) If an audit leads AAMAL to conclude that AAML
has breached the provisions of the Agreements
or that any of AAML's business or professional
practices related to the performance of its
duties under the Agreements presents a risk of
unauthorised disclosure of Confidential
Information or a risk of a breach of the
provisions of the Agreements, AAML and
AAMAL will use their best efforts to reach a
mutually satisfactory resolution. AAML will also
use its best efforts to correct any practices that
are found to be deficient as a result of any such
audit within a reasonable time after receipt of
AAMAL's audit report under this Paragraph 3.
(C) AAML shall comply, as soon as reasonably
practicable, with any request from MAS or
AAMAL to AAML and its subcontractors to
submit any report on the security and control
environment of AAML and its subcontractors
and to provide any other information on AAML
in relation to the Agreements and the
outsourcing arrangement.
(D) This Paragraph 3 will survive the termination of
the Agreements.
4. Sub-Contracting
(A) AAML may not subcontract the performance of
any of its obligations under the Agreements;
however, AAML may at its own expense engage
BNP Paribas Securities Services or (with prior
written consent of AAMAL) another third party
(BNP Paribas Securities Services or such third
party shall be referred to as the "Servicer"
herein) to perform certain back office functions
to enable AAML to perform its services under
the Agreements and in such event, AAML will
ensure that Servicer complies with the
provisions of the Agreements (including but not
limited to the prudent practices set out in the
MAS Guidelines for Outsourcing) as if
references to AAML in the Agreements were
references to Servicer.
(B) AAML has and will continue to exercise due
diligence and care in the selection and
appointment of Servicer and remains fully
responsible for such obligations and for all acts
or omissions of Servicer. Nothing in the
Agreements will be construed to create any
contractual relationship between AAMAL and
Servicer, nor any obligation on the part of a
Fund or AAMAL to pay or see to the payment of
any money due to Servicer.
(C) AAML will be liable for the capability of Servicer
and for compliance with the provisions under
the Agreements, particularly the obligations in
relation to security and confidentiality, audit
and inspection.
(D) AAML shall inform AAMAL of any legal or
administrative restriction(s) to the performance
of the Agreements that it is aware of before
and/or after its appointment pursuant to the
Agreements. Furthermore, AAMAL reserves the
right to revoke the appointment of AAML,
either (i) with prior approval of the Board of the
applicable Fund, immediately or (ii) by way of
notice in writing to AAML in accordance with
the termination provisions in the Agreements
and this letter, whichever is earlier, if there is
any change in the economic, social, political or
regulatory conditions or any event or
development in the country in which AAML
operates which, in the opinion of AAMAL,
affects or may affect AAML's ability to perform
or to comply with the provisions of the
Agreements. In the event that AAML has access
to AAMAL's Confidential Information and a
regulator (other than MAS) seeks access to such
information, AAML shall give prior notice to
AAMAL and cooperate with AAMAL in its efforts
to prevent or limit such access. In the event
such efforts fail, AAML shall only provide such
access or such disclosure as legally required and
shall take all reasonable steps to preserve the
confidentiality of AAMAL's Confidential
Information.
(E) Each of AAML and Servicer shall inform AAMAL
of any legal or administrative restriction(s) to
the inspection and audit obligations as set out
in Paragraph 3 above that it is aware of before
and/or after AAML appoints Servicer.
Furthermore, AAMAL reserves the right to
revoke with immediate effect the approval
granted in respect of the appointment of
Servicer if there is any change in the economic,
social, political or regulatory conditions or any
event or development in the country in which
Servicer operates which, in the opinion of
AAMAL, affects or may affect Servicer's ability
to provide the services or to comply with the
provisions of the Agreements. In the event that
Servicer has access to AAMAL's Confidential
Information and a regulator (other than MAS)
seeks access to such information, AAML and
Servicer shall give prior notice to AAMAL and
cooperate with AAMAL in its efforts to prevent
or limit such access. In the event such efforts
fail, Servicer shall only provide such access or
such disclosure as legally required and shall
take all reasonable steps to preserve the
confidentiality of AAMAL's Confidential
Information.
5. Adverse Developments and Events
(A) AAML shall notify AAMAL as soon as reasonably
practicable after the occurrence of any breach
or threatened breach of the Agreements, and of
adverse developments and events that may
have a significant impact on its ability to provide
the services under the Agreements, including
but not limited to developments and events
that could potentially lead to prolonged service
failure or disruption in the performance of the
Agreements by AAML or present a risk of a
breach of the Agreements. If necessary in such
circumstances, AAML and AAMAL shall
negotiate in good faith to amend the terms of
the Agreements.
6. Meetings and Reports
(A) AAML will be available for regular meetings
with AAMAL to discuss the latest investment
report and the performance of and future
investment policy for the investments of each
Fund, as well as to review any aspect of the
services provided under the Agreements. Such
meetings shall be held at least once every three
months unless AAMAL agrees otherwise. AAML
will assist in the preparation of investment
reports for each Fund.
7. Termination
(A) Without prejudice to the terms of the
Agreements, each Agreement may be
terminated:
(i) by AAMAL giving to AAML not less than
60 days' written notice of termination;
(ii) by either party immediately, if the other
party goes into liquidation (except
voluntary liquidation for the purposes
of reconstruction or amalgamation) or is
unable to pay its debts or commits any
act of bankruptcy or if a receiver,
judicial manager or administrator is
appointed over any of its assets;
(iii) by either party immediately if the other
party fails to maintain its licence or
authorised status with the Financial
Conduct Authority or MAS, as relevant,
or its status as a U.S. registered
investment adviser with the U.S.
Securities and Exchange Commission;
(iv) by AAMAL immediately by written
notice if the MAS requires AAMAL to
terminate the Agreements or make
alternative outsourcing arrangements
provided that AAMAL shall have
provided to AAML documentary
evidence of such requirement; and
(v) in accordance with the provisions of this
Appendix A.
Termination shall not affect any action by AAML
permitted under the Agreements prior to the
date of termination or any warranty or
indemnity, given by AAML or AAMAL under the
Agreements or implied by law and shall be
without prejudice to any other rights,
obligations or remedies of either party in
respect of any matters arising under the
Agreements prior to such termination.
On termination AAMAL shall settle any
expenses due to AAML in terms hereof. Fees
due hereunder shall be apportioned to the date
of termination.
Upon notice of termination of any Agreement,
AAML shall, if required by AAMAL, provide
reasonable assistance to effect an orderly
transition of AAML's duties and responsibilities
hereunder to a new manager approved by the
relevant Fund's Board of Directors and
stockholders in accordance with applicable laws
and regulations as soon as reasonably
practicable.
8. Jurisdiction
(A) The parties agree to submit to the jurisdiction of
the courts of New York. Without prejudice to
any rights and remedies available to either
party hereto, the parties agree that they will, on
a best endeavours basis, continue to observe
and carry out their respective obligations
hereunder to the maximum extent possible
pending resolution of the dispute.
FCO ITEM 77Q1 EXHIBIT
EX-99.Q2: Section 16(a) Beneficial Ownership Reporting Compliance A Form 3 for the below individuals was not filed within the required regulatory timeframe (each a director of the Registrant's sub-adviser): Stephen Docherty Katherine Malcolm FCO ITEM 77Q2 EXHIBIT
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