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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21448
Pioneer Municipal and Equity Income Trust
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Dorothy E. Bourassa, Pioneer Investment Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 742-7825
Date of fiscal year end: November 30
Date of reporting period: August 31, 2008
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5under
the Investment Company Act of 1940 (17 CFR 270.30b-5). The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609. The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. Schedule of Investments.
Pioneer Municipal and Equity Income Trust
SCHEDULE OF INVESTMENTS 8/31/08 (unaudited)
Principal
Amount ($) Value ($)
TAX EXEMPT OBLIGATIONS - 82.7% of Net Assets
Alabama - 1.5%
5,000,000 Huntsville-Redstone Village Special Care Facilities Fi 3,970,050
1,500,000 Sylacauga Health Care Authority Revenue, 6.0%, 8/1/35 1,322,505
5,292,555
Arizona - 1.1%
1,000,000 Maricopa County Hospital Revenue, 5.0%, 4/1/35 871,470
470,000 + Pima County Industrial Development Authority, 6.375%, 539,786
530,000 Pima County Industrial Development Authority, 6.375%, 516,278
979,000 Pima County Industrial Development Authority, 6.75%, 7 983,259
925,000 + Pima County Industrial Development Authority, 7.5%, 7/ 1,108,844
4,019,637
California - 3.5%
1,000,000 California Health Facilities Authority Revenue, 5.25%, 996,360
9,000,000 Golden State Tobacco Securitization Corp., 5.125%, 6/1 6,696,180
4,000,000 + Golden State Tobacco Securitization Corp., 6.75%, 6/1/ 4,623,480
12,316,020
Colorado - 0.7%
3,000,000 Colorado Educational & Cultural Facilities Authority R 2,576,940
Connecticut - 1.0%
1,500,000 Mohegan Tribe Indians Gaming Authority, 5.25%, 1/1/33 1,198,065
2,470,000 Mohegan Tribe Indians Gaming Authority, 6.25%, 1/1/31 2,246,465
3,444,530
District of Columbia - 1.1%
4,000,000 District of Columbia Tobacco Settlement Financing Corp 3,968,440
Florida - 3.5%
1,105,000 Highlands County Health Facilities Authority Revenue, 1,078,657
5,000,000 + Highlands County Health Facilities Authority Revenue, 5,579,150
2,000,000 Lee County Industrial Development Authority Revenue, 5 1,609,920
585,000 Madison County First Mortgage Revenue, 6.0%, 7/1/25 536,568
2,025,000 Miami Beach Health Facilities Authority Revenue, 5.375 1,734,007
500,000 Miami Beach Health Facilities Authority Revenue, 6.7%, 508,230
1,400,000 Orange County Health Facilities Authority Revenue, 5.5 1,141,322
12,187,854
Georgia - 0.8%
2,500,000 + Milledgeville-Baldwin County Development Authority Rev 2,857,775
Illinois - 6.2%
3,000,000 Chicago Illinois General Obligation, 5.0%, 1/1/28 3,031,980
4,580,000 Illinois Development Finance Authority Revenue, 5.25%, 4,658,501
5,000,000 Illinois Educational Facilities Authority Revenue, 5.0 5,013,350
4,000,000 Illinois Finance Authority Revenue, 5.5%, 8/15/30 3,789,280
2,000,000 + Illinois Finance Authority Revenue, 5.5%, 8/15/43 2,250,120
2,055,000 (a) Illinois Finance Authority Revenue, RIB, 11.749%, 8/15 2,928,786
21,672,017
Indiana - 3.1%
5,000,000 Indiana Health & Educational Facilities Financing Auth 4,490,050
4,135,000 Indiana State Development Finance Authority Revenue, 5 4,170,768
2,570,000 Vigo County Hospital Authority Revenue, 5.8%, 9/1/47 ( 2,144,871
10,805,689
Iowa - 0.9%
4,000,000 Iowa Financing Authority Senior Housing Revenue, 5.625 3,215,120
Kansas - 0.6%
750,000 Manhattan Health Care Facilities Revenue, 5.125%, 5/15 587,197
2,000,000 Manhattan Health Care Facilities Revenue, 5.125%, 5/15 1,540,720
2,127,917
Louisiana - 3.5%
5,000,000 Louisiana Public Facilities Authority Revenue, 5.5%, 5 4,723,000
8,335,000 Tobacco Settlement Financing Corp., 5.875%, 5/15/39 7,553,177
12,276,177
Maryland - 2.1%
3,000,000 Frederick County Educational Facilities Revenue, 5.625 2,820,540
1,000,000 Maryland State Economic Development Revenue, Series A, 945,500
660,000 Maryland State Economic Development Revenue, Series B, 624,030
1,000,000 Maryland State Economic Development Revenue, 5.0%, 12/ 745,180
2,000,000 + Maryland State Health & Higher Educational Facilities 2,194,540
7,329,790
Massachusetts - 7.8%
8,500,000 (a) Lehman Brothers Municipal Trust Receipts, RIB, 7.861%,10,333,960
4,500,000 Massachusetts Health & Educational Facilities Authorit 3,691,530
2,000,000 Massachusetts Health & Educational Facilities Authorit 2,016,100
1,550,000 Massachusetts Health & Educational Facilities Authorit 1,514,908
1,600,000 Massachusetts Health & Educational Facilities Authorit 1,566,048
2,120,000 Massachusetts Health & Educational Facilities Authorit 2,070,646
900,000 Massachusetts Health & Educational Facilities Authorit 909,801
2,750,000 Massachusetts Health & Educational Facilities Authorit 2,793,615
500,000 Massachusetts State Development Finance Agency, 5.5%, 431,130
1,100,000 Massachusetts State Development Finance Agency, 5.625% 1,095,908
1,000,000 Massachusetts State Development Finance Agency, 5.7%, 980,000
27,403,646
Michigan - 3.5%
5,000,000 + Macomb County Hospital Finance Authority Revenue, 5.87 5,629,350
1,550,000 Meridian Economic Development Corporate Ltd. Obligatio 1,399,247
3,340,000 Michigan Public Educational Facilities Authority Reven 2,866,087
2,000,000 Michigan State Hospital Finance Authority Revenue, 5.2 1,692,620
1,000,000 Michigan State Hospital Finance Authority Revenue, 5.5 825,860
12,413,164
Minnesota - 1.1%
2,000,000 + Duluth Economic Development Authority Health Care Faci 2,215,320
1,500,000 + Duluth Economic Development Authority Health Care Faci 1,661,490
3,876,810
Missouri - 0.5%
1,720,000 Missouri State Health & Educational Authority Health F 1,591,344
Montana - 0.3%
1,000,000 Montana Finance Authority Hospital Facilities Revenue, 989,820
Nevada - 0.4%
1,500,000 Henderson Nevada Health Care Facilities Revenue, 5.625 1,515,465
New Hampshire - 0.8%
1,600,000 + New Hampshire Business Finance Authority Revenue, 6.05 1,668,688
1,000,000 New Hampshire Health & Education Facilities Authority 1,006,640
2,675,328
New Jersey - 6.4%
1,250,000 Camden County Improvement Authority Revenue, 5.75%, 2/ 1,203,138
5,920,000 (a) Garden State Preservation Trust, RIB, 12.393%, 11/1/22 8,213,467
710,000 New Jersey Economic Development Authority Revenue, 5.7 655,138
1,000,000 New Jersey Health Care Facilities Financing Authority 934,530
5,000,000 New Jersey Health Care Facilities Financing Authority 4,693,650
3,500,000 New Jersey Health Care Facilities Financing Authority 3,450,090
3,000,000 + Tobacco Settlement Financing Corp., 6.25%, 6/1/43 3,454,380
22,604,393
New Mexico - 0.7%
1,000,000 Dona Ana County PILT Revenue, 5.25%, 12/1/25 969,250
1,500,000 Farmington New Mexico Hospital Revenue, 5.0%, 6/1/23 1,416,915
2,386,165
New York - 4.3%
2,500,000 Albany Industrial Development Agency Civic Facilities 2,316,275
2,000,000 Dutchess County Industrial Development Agency Revenue, 2,126,620
3,255,000 (a) Lehman Brothers Municipal Trust Receipts, RIB, 9.698%, 3,329,377
1,700,000 Nassau County Industrial Development Agency, 6.7% 1/1/ 1,681,317
1,000,000 New York City Industrial Development Agency, 5.0%, 7/1 1,022,790
1,000,000 New York City Industrial Development Agency, 5.25%, 7/ 1,045,380
1,000,000 Suffolk County Industrial Development Agency Civic Fac 806,770
3,000,000 Ulster County Industrial Development Agency Civic Faci 2,884,800
15,213,329
North Carolina - 0.5%
1,000,000 North Carolina Capital Facilities Finance Agency Stude 907,060
1,000,000 North Carolina Capital Facilities Finance Agency Stude 867,350
1,774,410
Ohio - 2.3%
1,500,000 Cuyahoga County Health Care & Independent Living Facil 1,316,910
1,500,000 Cuyahoga County Health Care & Independent Living Facil 1,304,880
1,000,000 Hamilton County Hospital Facilities Revenue, 5.125%, 5 904,910
3,955,000 (a) Lehman Brothers Municipal Trust Receipts, RIB, 10.158% 4,413,622
7,940,322
Oregon - 0.8%
2,935,000 Oregon State Housing & Community Services Department M 2,935,440
Pennsylvania - 3.7%
3,000,000 Allegheny County Hospital Development Authority Revenu 2,093,910
5,000,000 + Pennsylvania State Turnpike Commission Oil Franchise T 5,506,400
1,315,000 + Sayre Health Care Facilities Authority Revenue, 5.875% 1,458,151
685,000 Sayre Health Care Facilities Authority Revenue, 5.875% 693,679
700,000 Scranton-Lackawanna Health and Welfare Authority Hospi 698,803
460,000 Scranton-Lackawanna Health and Welfare Authority Hospi 458,376
2,165,000 Swarthmore Borough Authority College Revenue, 5.0%, 9/ 2,178,293
13,087,612
Puerto Rico - 1.4%
75,000 + Puerto Rico Public Buildings Authority Revenue, 5.25%, 82,205
4,925,000 Puerto Rico Public Buildings Authority Revenue, 5.25%, 4,864,029
4,946,234
Rhode Island - 1.3%
1,640,000 Tobacco Settlement Financing Corp., 6.125%, 6/1/32 1,538,615
3,100,000 Tobacco Settlement Financing Corp., 6.25%, 6/1/42 2,816,598
4,355,213
South Carolina - 3.8%
2,000,000 Berkeley County School District Installment Lease, 5.0 1,909,620
5,000,000 Florence County Hospital Revenue, 5.25%, 11/1/34 5,046,800
3,500,000 + Lexington County Health Services District, Inc., Hospi 3,876,530
540,000 + South Carolina Jobs Economic Development Authority Rev 598,714
1,960,000 South Carolina Jobs Economic Development Authority Rev 1,975,268
13,406,932
Tennessee - 0.7%
2,500,000 Knox County Health Educational & Housing Facilities Bo 2,559,750
Texas - 6.1%
1,552,000 Houston Housing Financing Corp., 6.25%, 9/20/31 1,585,368
2,750,000 Lower Colorado River Authority, 5.0%, 5/15/31 2,759,955
5,000,000 North Texas Tollway Authority Revenue, 5.75%, 1/1/38 4,821,300
1,711,000 Panhandle Regional Housing Finance Corp., 6.6%, 7/20/3 1,777,233
3,000,000 Richardson Hospital Authority, 6.0%, 12/1/34 2,870,010
1,000,000 Seguin Higher Education Facilities Corp. Revenue, 5.0% 930,030
1,500,000 + Texas State Student Housing Revenue, 6.5%, 9/1/34 1,721,730
2,160,000 Willacy County Local Government Corp. Revenue, 6.0%, 9 2,139,502
3,000,000 Willacy County Local Government Corp. Revenue, 6.875%, 2,841,660
21,446,788
Vermont - 1.4%
3,750,000 (a) Lehman Brothers Municipal Trust Receipts, RIB, 11.29%, 3,617,550
1,295,000 Vermont Educational & Health Buildings Financing Agenc 1,192,281
4,809,831
Virginia - 1.5%
1,500,000 Prince William County Industrial Development Hospital 1,480,035
3,925,000 Prince William County Industrial Development Hospital 3,770,630
5,250,665
Washington - 2.8%
3,000,000 King County Washington Sewer Revenue, 5.0%, 1/1/35 2,995,440
7,000,000 Tobacco Settlement Authority Revenue, 6.625%, 6/1/32 6,896,190
9,891,630
Wisconsin - 1.0%
3,500,000 Wisconsin State Health & Educational Facilities Author 3,317,650
TOTAL TAX-EXEMPT OBLIGATIONS
(Cost $293,507,915) (b) 290,482,402
Shares
COMMON STOCKS - 39.3% of Net Assets
Energy - 1.7%
Oil & Gas Drilling - 0.6%
19,566 Diamond Offshore Drilling, Inc. 2,150,499
Oil & Gas Storage & Transportation - 1.1%
142,876 Spectra Energy Corp. 3,780,499
Total Energy 5,930,998
Materials - 0.7%
Diversified Chemicals - 0.7%
94,000 Olin Corp. 2,529,540
Total Materials 2,529,540
Capital Goods - 0.5%
Aerospace & Defense - 0.5%
27,334 Northrop Grumman Corp., 7.0% 1,881,946
Total Capital Goods 1,881,946
Commercial Services & Supplies - 0.6%
Commercial Printing - 0.6%
79,034 R.R. Donnelley & Sons Co. 2,203,468
Total Commercial Services & Supplies 2,203,468
Consumer Durables & Apparel - 0.1%
Home Furnishings - 0.1%
50,000 Bassett Furniture Industries, Inc. 514,000
Total Consumer Durables & Apparel 514,000
Media - 1.0%
Movies & Entertainment - 1.0%
206,487 Regal Entertainment Group 3,460,722
Total Media 3,460,722
Food, Beverage & Tobacco - 8.3%
Packaged Foods & Meats - 1.4%
257,800 B&G Foods, Inc. 2,077,868
92,828 Kraft Foods, Inc. 2,925,010
5,002,878
Tobacco - 6.9%
134,140 Altria Group, Inc. 2,820,964
172,872 Lorillard, Inc. 12,488,273
134,140 Philip Morris International, Inc. 7,203,318
29,704 Reynolds American, Inc. 1,573,718
24,086,273
Total Food, Beverage & Tobacco 29,089,151
Pharmaceuticals, Biotechnology & Life Sciences - 4.2%
Pharmaceuticals - 4.2%
329,758 Bristol-Myers Squibb Co. 7,037,036
216,536 Merck & Co., Inc. 7,723,839
Total Pharmaceuticals, Biotechnology & Life Sciences 14,760,875
Banks - 1.1%
Regional Banks - 0.5%
81,550 KeyCorp 979,416
67,800 Regions Financial Corp. 628,506
1,607,922
Thrifts & Mortgage Finance - 0.6%
222,700 TrustCo Bank Corp., NY 2,178,006
Total Banks 3,785,928
Diversified Financials - 2.0%
Other Diversified Financial Services - 0.4%
42,500 Bank of America Corp. 1,323,450
Investment Banking & Brokerage - 1.6%
134,161 Lazard, Ltd., 6.625% 5,687,085
Total Diversified Financials 7,010,535
Telecommunication Services - 10.5%
Integrated Telecommunication Services - 10.5%
187,900 AT&T, Inc. 6,010,921
7,670 FairPoint Communications, Inc. 67,880
529,946 Frontier Communications Corp. 6,661,421
406,745 Verizon Communications, Inc. 14,284,884
790,184 Windstream Corp. 9,814,085
Total Telecommunication Services 36,839,191
Utilities - 8.6%
Electric Utilities - 2.2%
285,753 Duke Energy Corp. 4,983,532
138,400 Empire District Electric Co. 2,920,240
7,903,772
Gas Utilities - 3.9%
81,249 AGL Resources, Inc. 2,686,092
395,466 Atmos Energy Corp. 10,891,134
13,577,226
Multi-Utilities - 2.5%
100,000 Consolidated Edison, Inc. 4,090,000
134,112 NSTAR 4,538,350
8,628,350
Total Utilities 30,109,348
TOTAL COMMON STOCKS
(Cost $131,149,283) 138,115,702
NON-CONVERTIBLE PREFERRED STOCKS - 3.8% of Net Assets
Banks - 1.0%
Diversified Banks - 1.0%
150,000 JPMorgan Chase Capital Trust XVI, 6.35% 3,420,000
Total Banks 3,420,000
Diversified Financials - 0.6%
Other Diversified Financial Services - 0.6%
37,300 JPMorgan Chase & Co. Series F, 5.72% 1,445,748
13,700 JPMorgan Chase & Co. Series G, 5.49% 503,612
Total Diversified Financials 1,949,360
Insurance - 0.0%
Life & Health Insurance - 0.0%
72,550 Scottish Re Group, Ltd., 7.25% 148,728
Total Insurance 148,728
Real Estate - 0.3%
Retail Real Estate Investment Trust - 0.3%
53,500 Regency Centers Corp., Series E, 6.7% 1,102,100
Total Real Estate 1,102,100
Utilities - 1.9%
Electric Utilities - 1.9%
58,400 Alabama Power Co., 5.3% 1,284,800
57,000 Alabama Power Co., 5.83% 1,311,000
78,000 Interstate Power and Light Co., Series B, 8.375% 2,147,340
7,700 PPL Electric Utilities Corp., 4.5% 612,920
73,000 Southern California Edison Co., 4.32% 1,365,100
Total Utilities 6,721,160
TOTAL NON-CONVERTIBLE PREFERRED STOCKS
(Cost $17,039,149) 13,341,348
CONVERTIBLE PREFERRED STOCKS - 0.9% of Net Assets
Commercial Services & Supplies - 0.8%
Office Services & Supplies - 0.8%
60,000 Avery Dennison Corp., 7.875% 2,821,200
Total Commercial Services & Supplies 2,821,200
Insurance - 0.1%
Property & Casualty Insurance - 0.1%
47,919 XL Capital, Ltd., Class A, 7.0% 396,769
Total Insurance 396,769
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $4,203,881) 3,217,969
TAX-EXEMPT MONEY MARKET MUTUAL FUND - 9.4% of Net Assets
33,005,000 BlackRock Liquidity Funds MuniFund Portfolio 33,005,000
TOTAL TAX-EXEMPT MONEY MARKET MUTUAL FUND
(Cost $33,005,000) 33,005,000
TOTAL INVESTMENTS IN SECURITIES - 136.1%
(Cost $478,905,228) (c) 478,162,421
OTHER ASSETS AND LIABILITIES 14.1% 49,502,647
PREFERRED SHARES AT REDEMPTION VALUE,
INCLUDING DIVIDENDS PAYABLE - (50.2%) (176,340,209)
NET ASSETS APPLICABLE TO COMMON SHAREOWNERS - 100.0% 351,324,859
RIB Residual Interest Bonds
(144A) Security is exempt from registration under Rule 144A of the
Securities Act of 1933. Such securities may be resold
normally to qualified institutional buyers in a transaction
exempt from registration. At August 31, 2008, the value of
these securities amounted $41,809,873, or 11.9% of total net
assets.
+ Prerefunded bonds have been collateralized by U.S. Treasury
securities or U.S. Government Agencies, which are held in escrow
to pay
interest and principal on the tax exempt issue and to retire the
bonds in full at the earliest refunding date.
(a) The interest rate is subject to change periodically and inversely
based
upon prevailing market rates. The interest rate shown
is the coupon rate at August 31, 2008.
(b) The concentration of tax-exempt investments by type of
obligation/market sector is as follows:
Insured:
FSA 8.2%
Radian 2.8
MBIA 1.7
FGIC 1.2
AMBAC 0.9
14.8%
General Obligation 4.0
Revenue Bonds:
Health Revenue 30.4
Tobacco Revenue 15.1
Other Revenue 10.2
Development Revenue 9.2
Education Revenue 7.2
Facilities Revenue 3.0
Housing Revenue 2.9
Transportation Revenue 1.5
Gaming Revenue 1.1
Other Revenue 0.0
School District Revenue 0.6
100.0%
(c) At August 31, 2008, the net unrealized loss on investments
based on cost for federal income tax purposes
of $478,645,019 was as follows:
Aggregate gross unrealized gain for all investments in
which there is an excess of value over tax c $27,515,009
Aggregate gross unrealized loss for all investments in
which there is an excess of tax cost over val (27,997,607)
Net unrealized loss $(482,598)
For financial reporting purposes net unrealized loss on
investments was $742,807 and cost of
investments aggregated $478,905,228.
Various inputs are used in determining the value of the Fund's
investments. These inputs are summarized in the three broad
levels listed below.
Highest priority is given to Level 1 inputs and lowest priority
is given to Level 3.
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted
prices for similar securities, interest rates, prepayment speeds,
credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund's
own assumptions in determining fair value of investments)
The following is a summary of the inputs used as of August
31, 2008, in valuing the Fund's assets:
Valuation Inputs Investments Other Financial
in Securities Instruments
Level 1 - Quoted Prices $154,675,019 $ -
Level 2 - Other Significant Observable Inputs 323,487,402 (942,512)
Level 3 - Significant Unobservable Inputs - -
Total $478,162,421 $(942,512)
ITEM 2. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant's principal executive officer or
officers and principal financial officer or officers, or persons performing
similar functions, about the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR
270.30a-3(c))) as of a date within 90 days of the filing date of the report
that includes the disclosure required by this paragraph, based on their
evaluation of these controls and procedures required by Rule 30a-3(b)
under the Act (17 CFR270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b)
under the Exchange Act (17 CFR240.13a-15(b) or 240.15d-15(b)).
The registrant's principal executive officer and principal financial officer
have concluded that the registrant's disclosure controls and procedures are
effective based on their evaluation of these controls and procedures as of
a date within 90 days of the filing date of this report.
(b) Disclose any change in the registrant's internal controls over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR270.30a-3(d))
that occurred during the registrant's last fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting.
There were no significant changes in the registrant's internal control over
financial reporting that occurred during the second fiscal quarter of the
period covered by this report that have materially affected, or are
reasonably likely to materially affect, the registrant's internal control
over financial reporting.
ITEM 3. EXHIBITS.
(a) A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2 under the Act
(17 CFR 270.30a-2).
Filed herewith.
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Pioneer Municipal and Equity Income Trust
By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr, President
Date October 29, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr., President
Date October 29, 2008
By (Signature and Title)* /s/ Mark Bradley
Mark Bradley, Treasurer
Date October 29, 2008
* Print the name and title of each signing officer under his or her signature.