Please refer to the FAQs section accessible through the link below to learn more about the distributions and possible tax implications.
2023 Tax Distributions
Baron Funds - Estimated December 2023 Per Share Distribution Amounts
Please see below for the preliminary year-end distribution estimates to be paid in December 2023 for the Baron Funds.
These estimates were prepared using income and capital gain amounts through November 16, 2023. The estimates reflect undistributed income and net capital gains, and may not include all tax adjustments. The distribution amounts provided may change, perhaps significantly, due to the following reasons:
- The Funds are required to distribute net investment income earned through December 31, 2023. As the estimates were prepared with information through November 16, 2023, additional net investment income/losses through December 31, 2023, may impact the final distribution amounts.
- The total number of shares that will receive the distributions will change by the respective distribution dates, perhaps significantly.
Distributions will not be considered final until declaration on the ex-dividend dates.
Please note that for Baron Funds that have invested in real estate investment trusts (REITs) and publicly traded partnerships during the current tax year, a portion of the income distributions may be recharacterized as return of capital or as capital gain distributions. Information to properly reflect the impact of these recharacterizations will not be available until early 2024.
Distribution Estimates as of November 16, 2023
Please note that we do not currently anticipate year-end distributions for the following Funds:
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty.
The following Fund has made a Spillback Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0053 | $0.0000 | $0.0000 | $0.0000 | $0.0053 | $15.90 |
2022 Tax Distributions
VIEW THE BARON FUNDS 2022 SHAREHOLDER TAX GUIDE
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice.
The following Fund has made a Spillback Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0818 | $0.0000 | $0.0025 | $0.3713 | $0.4556 | $14.10 | -32.59% |
2021 Tax Distributions
VIEW THE BARON FUNDS 2021 SHAREHOLDER TAX GUIDE
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice.
The following Fund has made an Annual Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0000 | $0.0000 | $0.0000 | $0.8164 | $0.8164 | $21.33 | 16.70% |
The following Fund has made a Spillback Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0049 | $0.0000 | $0.0030 | $0.3684 | $0.3763 | $21.41 | 16.70% |
2020 Tax Distributions
VIEW THE BARON FUNDS 2020 SHAREHOLDER TAX GUIDE
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice.
The following Fund has made an Annual Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0000 | $0.0000 | $0.0000 | $0.0780 | $0.0780 | $18.30 | 62.85% |
The following Fund has made a Spillback Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0000 | $0.0000 | $0.0000 | $0.1654 | $0.1654 | $15.32 | 62.85% |
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty.
2019 Tax Distributions
VIEW THE BARON FUNDS 2019 SHAREHOLDER TAX GUIDE
November 26, 2019 and December 19, 2019
Certain Baron Funds have made 2019 year-end distributions (record date 11/25/19, ex date 11/26/19, payable date 11/27/19).
The Baron Real Estate Income Fund will make a quarterly distribution (record date 12/18/19, ex date 12/19/19, payable date 12/20/19).
Baron Emerging Markets Fund- 2019 Form 8937
Tax law requires that mutual funds pay substantially all net investment income and net capital gains to their investors. Investors can opt to receive cash or reinvest in additional shares of the Fund. Both will be taxable, except to shareholders who hold their shares in tax-deferred accounts. Shareholders who purchase Fund shares before or on the record date will receive the distribution. Each Fund’s NAV will be reduced by the amount of the distribution on the ex-date. Distributions will be paid to shareholders of record on the payable date. Shares are reinvested at the NAV per share on the ex-date. Purchasers of Fund shares on the ex-date are not eligible to receive the distribution.
The following Fund has made a Spillback Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0052 | $0.0000 | $0.0001 | $0.4263 | $0.4316 | $11.01 | 36.49% |
Funds not listed made no distributions
Spillback distributions are distributions of ordinary and/or capital gains from the previous 2018 fiscal year that were not distributed by the end of that year. Spillback distributions must be declared within 9½ months (the Funds' extended tax return due date) of the Funds' fiscal year end. The extended tax return due date for the September 30, 2018 fiscal year end Funds is July 15, 2019. The extended tax return due date for the December 31, 2018 fiscal year end Funds is October 15, 2019. Even though they represent ordinary income and/or capital gains earned by the Funds in the previous fiscal year, they are taxable in 2019.
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions.
This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors.
2018 Tax Distributions
VIEW THE BARON FUNDS 2018 SHAREHOLDER TAX GUIDE
BARON REAL ESTATE INCOME FUND - 2018 FORM 8937
2018 Year-End Distributions
December 4, 2018 – Baron WealthBuilder Fund has made 2018 year-end distributions (record date 12/03/18, ex date 12/04/18, payable date 12/05/18).
November 29, 2018 – Certain Baron Funds have made 2018 year-end distributions (record date 11/28/18, ex date 11/29/18, payable date 11/30/18).
Tax law requires that mutual funds pay substantially all net investment income and net capital gains to their investors. Investors can opt to receive cash or reinvest in additional shares of the Fund. Both may be taxable. Shareholders who purchase Fund shares before or on the record date receive the distribution. Each Fund’s NAV will be reduced by the amount of the distribution on the ex-date. Distributions will be paid to shareholders of record on the payable date. Shares are reinvested at the NAV per share on the ex-date. Purchasers of Fund shares on the ex-date are not eligible to receive the distribution.
Please note that some of the Baron Funds that have invested in real estate investment trusts (REITs) and publicly traded partnerships during the current tax year may potentially re-characterize some of their income distributions as return of capital. If applicable, the re-characterization may occur in February following the current tax year.
The following Fund has made an Annual Distribution.
| Fund | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
|---|---|---|---|---|---|---|---|
| Baron WealthBuilder Fund (BWBTX) | $0.0000 | $0.0000 | $0.0000 | $0.0134 | $0.0134 | $10.16 | -6.38% |
Funds not listed made no distributions
Spillback distributions are distributions of ordinary and/or capital gains from the previous 2017 fiscal year that were not distributed by the end of that year. Spillback distributions must be declared within 9½ months (the Funds' extended tax return due date) of the Funds' fiscal year end. The extended tax return due date for the December 31, 2017 fiscal year end Funds is October 15, 2018. Even though they represent ordinary income and/or capital gains earned by the Funds in the previous fiscal year, they are taxable in 2018.
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions.
This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors.
2017 Tax Distributions
VIEW THE BARON FUNDS 2017 SHAREHOLDER TAX GUIDE
BARON EMERGING MARKETS FUND - 2017 FORM 8937
2017 YEAR-END FUND DISTRIBUTIONS
November 28, 2017 – Certain Baron Funds have made 2017 year-end distributions (record date 11/27/17, ex-date 11/28/17, payable date 11/29/17). Tax law requires that mutual funds pay substantially all net investment income and net capital gains to their investors. Investors can opt to receive cash or reinvest in additional shares of the fund. Both may be taxable. Shareholders who purchase fund shares before or on the record date receive the distribution. Each Fund’s NAV will be reduced by the amount of the distribution on the ex-date. Distributions will be paid to shareholders of record on the payable date. Shares are reinvested at the NAV per share on the ex-date. Purchasers of fund shares on the ex-date are not eligible to receive the distribution.
Please refer to our FAQs section to learn more about distributions and possible tax implications.
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions.
Investors should consider objectives, risks, and charges and expenses of the Funds carefully before investing. The Funds are described in a prospectus, which contains this and other information. You should carefully read the prospectus before investing. You can obtain a copy of it by contacting the distributor, Baron Capital, Inc. at 767 Fifth Avenue, NY, NY 10153 or calling 1-800-99BARON.
This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors.
Funds not listed made no distributions
Estimated Sources of Distribution: It is estimated that of the $0.0486 Income distribution (Ex Date 4/18/18), 6.92% is Return of Capital and 18.04% is a Long-Term Capital gain. It is estimated that of the $0.0536 Income distribution (Ex Date 6/27/18), 5.26% is Return of Capital and 16.03% is a Long-Term Capital gain. Return of Capital is when an investor receives a portion of his or her original investment. These payments are not considered taxable income. The final determination of the source and tax characteristics of all distributions will be made after year-end and reported to you on Form 1099-DIV. Please note that the final amounts may vary significantly from the estimates provided. Form 1099-DIV, which is mailed after the close of the calendar year, will specify how the distributions paid by the Fund during the year should be characterized and reported on your tax return (e.g. ordinary income, return of capital and capital gain).
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2023 Tax Distributions
Baron Funds - Estimated December 2023 Per Share Distribution Amounts
Please see below for the preliminary year-end distribution estimates to be paid in December 2023 for the Baron Funds.
These estimates were prepared using income and capital gain amounts through November 16, 2023. The estimates reflect undistributed income and net capital gains, and may not include all tax adjustments. The distribution amounts provided may change, perhaps significantly, due to the following reasons:
- The Funds are required to distribute net investment income earned through December 31, 2023. As the estimates were prepared with information through November 16, 2023, additional net investment income/losses through December 31, 2023, may impact the final distribution amounts.
- The total number of shares that will receive the distributions will change by the respective distribution dates, perhaps significantly.
Distributions will not be considered final until declaration on the ex-dividend dates.
Please note that for Baron Funds that have invested in real estate investment trusts (REITs) and publicly traded partnerships during the current tax year, a portion of the income distributions may be recharacterized as return of capital or as capital gain distributions. Information to properly reflect the impact of these recharacterizations will not be available until early 2024.
Distribution Estimates as of November 16, 2023
Please note that we do not currently anticipate year-end distributions for the following Funds:
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty.
| Record Date | 09/26/2023 |
|---|---|
| Ex Date | 09/27/2023 |
| Payable Date | 09/28/2023 |
| Income | $0.0053 |
| Return of Capital | $0.0000 |
| Short-Term Capital Gain | $0.0000 |
| Long-Term Capital Gain | $0.0000 |
| Total | $0.0053 |
| Re-Invest NAV | $15.90 |
| Calendar-Yr Return |
2022 Tax Distributions
VIEW THE BARON FUNDS 2022 SHAREHOLDER TAX GUIDE
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice.
| Record Date | 09/26/2022 |
|---|---|
| Ex Date | 09/27/2022 |
| Payable Date | 09/28/2022 |
| Income | $0.0818 |
| Return of Capital | $0.0000 |
| Short-Term Capital Gain | $0.0025 |
| Long-Term Capital Gain | $0.3713 |
| Total | $0.4556 |
| Re-Invest NAV | $14.10 |
| Calendar-Yr Return | -32.59% |
2021 Tax Distributions
VIEW THE BARON FUNDS 2021 SHAREHOLDER TAX GUIDE
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice.
| Record Date | 12/01/2021 | 10/04/2021 |
|---|---|---|
| Ex Date | 12/02/2021 | 10/05/2021 |
| Payable Date | 12/03/2021 | 10/06/2021 |
| Income | $0.0000 | $0.0049 |
| Return of Capital | $0.0000 | $0.0000 |
| Short-Term Capital Gain | $0.0000 | $0.0030 |
| Long-Term Capital Gain | $0.8164 | $0.3684 |
| Total | $0.8164 | $0.3763 |
| Re-Invest NAV | $21.33 | $21.41 |
| Calendar-Yr Return | 16.70% | 16.70% |
2020 Tax Distributions
VIEW THE BARON FUNDS 2020 SHAREHOLDER TAX GUIDE
Due to share purchase and sales activity, the actual amounts may differ from the estimated amounts. We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice.
| Record Date | 11/30/2020 | 09/23/2020 |
|---|---|---|
| Ex Date | 12/01/2020 | 09/24/2020 |
| Payable Date | 12/02/2020 | 09/25/2020 |
| Income | $0.0000 | $0.0000 |
| Return of Capital | $0.0000 | $0.0000 |
| Short-Term Capital Gain | $0.0000 | $0.0000 |
| Long-Term Capital Gain | $0.0780 | $0.1654 |
| Total | $0.0780 | $0.1654 |
| Re-Invest NAV | $18.30 | $15.32 |
| Calendar-Yr Return | 62.85% | 62.85% |
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions. This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty.
2019 Tax Distributions
VIEW THE BARON FUNDS 2019 SHAREHOLDER TAX GUIDE
November 26, 2019 and December 19, 2019
Certain Baron Funds have made 2019 year-end distributions (record date 11/25/19, ex date 11/26/19, payable date 11/27/19).
The Baron Real Estate Income Fund will make a quarterly distribution (record date 12/18/19, ex date 12/19/19, payable date 12/20/19).
Baron Emerging Markets Fund- 2019 Form 8937
Tax law requires that mutual funds pay substantially all net investment income and net capital gains to their investors. Investors can opt to receive cash or reinvest in additional shares of the Fund. Both will be taxable, except to shareholders who hold their shares in tax-deferred accounts. Shareholders who purchase Fund shares before or on the record date will receive the distribution. Each Fund’s NAV will be reduced by the amount of the distribution on the ex-date. Distributions will be paid to shareholders of record on the payable date. Shares are reinvested at the NAV per share on the ex-date. Purchasers of Fund shares on the ex-date are not eligible to receive the distribution.
| Record Date | 09/26/2019 |
|---|---|
| Ex Date | 09/27/2019 |
| Payable Date | 09/30/2019 |
| Income | $0.0052 |
| Return of Capital | $0.0000 |
| Short-Term Capital Gain | $0.0001 |
| Long-Term Capital Gain | $0.4263 |
| Total | $0.4316 |
| Re-Invest NAV | $11.01 |
| Calendar-Yr Return | 36.49% |
Funds not listed made no distributions
Spillback distributions are distributions of ordinary and/or capital gains from the previous 2018 fiscal year that were not distributed by the end of that year. Spillback distributions must be declared within 9½ months (the Funds' extended tax return due date) of the Funds' fiscal year end. The extended tax return due date for the September 30, 2018 fiscal year end Funds is July 15, 2019. The extended tax return due date for the December 31, 2018 fiscal year end Funds is October 15, 2019. Even though they represent ordinary income and/or capital gains earned by the Funds in the previous fiscal year, they are taxable in 2019.
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions.
This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors.
2018 Tax Distributions
VIEW THE BARON FUNDS 2018 SHAREHOLDER TAX GUIDE
BARON REAL ESTATE INCOME FUND - 2018 FORM 8937
2018 Year-End Distributions
December 4, 2018 – Baron WealthBuilder Fund has made 2018 year-end distributions (record date 12/03/18, ex date 12/04/18, payable date 12/05/18).
November 29, 2018 – Certain Baron Funds have made 2018 year-end distributions (record date 11/28/18, ex date 11/29/18, payable date 11/30/18).
Tax law requires that mutual funds pay substantially all net investment income and net capital gains to their investors. Investors can opt to receive cash or reinvest in additional shares of the Fund. Both may be taxable. Shareholders who purchase Fund shares before or on the record date receive the distribution. Each Fund’s NAV will be reduced by the amount of the distribution on the ex-date. Distributions will be paid to shareholders of record on the payable date. Shares are reinvested at the NAV per share on the ex-date. Purchasers of Fund shares on the ex-date are not eligible to receive the distribution.
Please note that some of the Baron Funds that have invested in real estate investment trusts (REITs) and publicly traded partnerships during the current tax year may potentially re-characterize some of their income distributions as return of capital. If applicable, the re-characterization may occur in February following the current tax year.
| Record Date | 12/03/2018 |
|---|---|
| Ex Date | 12/04/2018 |
| Payable Date | 12/05/2018 |
| Income | $0.0000 |
| Return of Capital | $0.0000 |
| Short-Term Capital Gain | $0.0000 |
| Long-Term Capital Gain | $0.0134 |
| Total | $0.0134 |
| Re-Invest NAV | $10.16 |
| Calendar-Yr Return | -6.38% |
Funds not listed made no distributions
Spillback distributions are distributions of ordinary and/or capital gains from the previous 2017 fiscal year that were not distributed by the end of that year. Spillback distributions must be declared within 9½ months (the Funds' extended tax return due date) of the Funds' fiscal year end. The extended tax return due date for the December 31, 2017 fiscal year end Funds is October 15, 2018. Even though they represent ordinary income and/or capital gains earned by the Funds in the previous fiscal year, they are taxable in 2018.
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions.
This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors.
2017 Tax Distributions
VIEW THE BARON FUNDS 2017 SHAREHOLDER TAX GUIDE
BARON EMERGING MARKETS FUND - 2017 FORM 8937
2017 YEAR-END FUND DISTRIBUTIONS
November 28, 2017 – Certain Baron Funds have made 2017 year-end distributions (record date 11/27/17, ex-date 11/28/17, payable date 11/29/17). Tax law requires that mutual funds pay substantially all net investment income and net capital gains to their investors. Investors can opt to receive cash or reinvest in additional shares of the fund. Both may be taxable. Shareholders who purchase fund shares before or on the record date receive the distribution. Each Fund’s NAV will be reduced by the amount of the distribution on the ex-date. Distributions will be paid to shareholders of record on the payable date. Shares are reinvested at the NAV per share on the ex-date. Purchasers of fund shares on the ex-date are not eligible to receive the distribution.
Please refer to our FAQs section to learn more about distributions and possible tax implications.
We strongly urge shareholders to consult with their tax advisers regarding the tax consequences of these distributions.
Investors should consider objectives, risks, and charges and expenses of the Funds carefully before investing. The Funds are described in a prospectus, which contains this and other information. You should carefully read the prospectus before investing. You can obtain a copy of it by contacting the distributor, Baron Capital, Inc. at 767 Fifth Avenue, NY, NY 10153 or calling 1-800-99BARON.
This information does not constitute tax, legal or accounting advice and neither Baron Funds nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors.
| Record Date |
|---|
| Ex Date |
| Payable Date |
| Income |
| Return of Capital |
| Short-Term Capital Gain |
| Long-Term Capital Gain |
| Total |
| Re-Invest NAV |
| Calendar-Yr Return |
Funds not listed made no distributions
Estimated Sources of Distribution: It is estimated that of the $0.0486 Income distribution (Ex Date 4/18/18), 6.92% is Return of Capital and 18.04% is a Long-Term Capital gain. It is estimated that of the $0.0536 Income distribution (Ex Date 6/27/18), 5.26% is Return of Capital and 16.03% is a Long-Term Capital gain. Return of Capital is when an investor receives a portion of his or her original investment. These payments are not considered taxable income. The final determination of the source and tax characteristics of all distributions will be made after year-end and reported to you on Form 1099-DIV. Please note that the final amounts may vary significantly from the estimates provided. Form 1099-DIV, which is mailed after the close of the calendar year, will specify how the distributions paid by the Fund during the year should be characterized and reported on your tax return (e.g. ordinary income, return of capital and capital gain).