ITEM 8.01. OTHER EVENTS.

As part of its regular quarter-end review, the Fund's Valuation Committee made determinations regarding the fair values of the Fund's investments, resulting in a net decrease of approximately $2.8 million or $.11 per share, effective January 31, 2009. Among the reasons for the decrease was lower market multiples within certain industries. The fair values of the following portfolio companies were adjusted: Amersham Corporation, BP Clothing, LLC, Dakota Growers Pasta Company, FolioFN, Inc., PreVisor, Inc., SGDA Sanierungsgesellschaft fur Deponien und Altlasten mbH, SIA Tekers Invest, Timberland Machines & Irrigation, Inc., Turf Products, LLC, U.S Gas & Electric, Inc. and Velocitius B.V.

The Fund's net asset value as of January 31, 2009 is approximately $17.27 per share.