Three Months
ended Year ended
March 31, December 31,
2000 1999
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(unaudited)
From Operations:
Net investment income $ 1,056,548 $ 9,806,876
Net realized gain on investments 6,521,959 22,803,830
Change in unrealized appreciation on investments 53,533,337 75,425,708
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Increase in net assets resulting from operations 61,111,844 108,036,414
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Dividends to Stockholders from:
Net investment income (983,821) (9,965,792)
Net realized gain from investment transactions (1,827,096) (22,284,614)
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Decrease in net assets from distributions (2,810,917) (32,250,406)
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From Capital Share Transactions:
Value of common shares issued in payment of
optional distributions --0-- 15,851,054
Cost of common shares purchased (note 4) (13,163,096) (1,383,179)
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Change in net assets from capital share
transactions (13,163,096) 14,467,875
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Total Increase in Net Assets 45,137,831 90,253,883
Net Assets:
Beginning of period 565,075,001 474,821,118
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End of period (including undistributed net investment
income of $533,022 and $460,295, respectively) $610,212,832 $565,075,001
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