BOND FUNDS

objective

The Rivus Bond Fund (Managed by Cutwater) and MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund are closed-end funds registered under the Investment Company Act of 1940 which are managed by Cutwater Asset Management. We invest in securities that we believe will help achieve our investment objective, pursuant to the prospectus limitations. Our closed-end funds specialize in fixed-income securities.

fund type	style	investment profile
Rivus Bond Fund (Managed by Cutwater)	Crossover	Long Duration
MBIA Capital/Claymore Municipal Fund	Investment Grade	Long Duration

Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. Please consider this information carefully before you invest.